Smart contracts play an increasing role of importance in the blockchain and cryptocurrency industry. Numerous ecosystems provide access to such services, with Ethereum still considered to be the go-to solutions. Now that over 204,000 token contracts exist on this blockchain, it has become apparent the total market cap of a token doesn’t necessarily correlate to the number of token holders.
Most people might not even know XENON exist. This project deems itself to be an alternative blockchain forked from EOS, yet its XNN tokens were first issued on the Ethereum blockchain through a smart contract. It is a token which generates no volume as of right now, despite there being nearly 747,000 token holders. With a market cap of $710,690, it is a matter of time until the project peters out completely. Even so, it will take some time until a different token contract surpasses the project in terms of unique token holders.
The first contender to XENON’s user base comes in the form of OmiseGO, or OMG. This…