TE-FOOD’s FoodChain Ranks 8th Largest Blockchain in Terms of Activity
TE-FOOD’s FoodChain is among the top 10 largest blockchains in the world, based on a blockchain activity matrix. The company confirmed this in an official tweet, which states that:
TE-FOOD's FoodChain is right now the 8th largest blockchain in terms of activity, just behind @ethereum!
It is worth mentioning that although FoodChain is the 8th largest blockchain in terms of activity, it currently ranks 9 in a 7-day average, just behind Komodo.
TE-FOOD released the beta version of their blockchain, FoodChain, on October 13. An official launch happened November 10. The company has recorded a lot of significant partnerships geared towards promoting farm-to-table food traceability solutions within this period. Some worthy mentions are its partnership with Tier 1, the Laurel Group and the University of Debrecen, Auchan, and New Zealand Trade Center, amongst others. There is little wonder how FoodChain has grown to become one of the top blockchains in less than 3 months since its launch.
The ranking was done by blocktivity, a business that focuses on “the real value of blockchains”. The blockchain activity matrix is one of the ways to grade the performance of a blockchain project, beyond its market cap. According to them, several factors such as FUD and HYPE can mask the true value of a blockchain, since the market cap may be manipulated. They noted that the blockchain activity matrix observes “which project is actually being used by people.” This is arguably the best predictive indicator of value.