Compare Elongate (ELONGATE) vs BitBay (BAY)

Market Cap and Valuation

First things first: the market capitalization. It's always better to invest in a well-established coin than a relatively new project. A large market cap means low volatility, whereas a small market cap means the coin will be extremely volatile and risky to trade – but can also bring huge rewards.

See if the coin has reasonable market cap and valuation for now – sometimes people speculate with coins which don't deserve a single dollar spent on them.

Blockchain Network Consensus

Proof-of-Work, Proof-of-Stake, or any other algorithm. Every protocol uses a specific algorithm for consensus – and therefore it brings some particular traits and advantages. Compare both coins by the consensus mechanism to find similarities and differences. Does it fit your preferences?

Scalability: TPS & Layer-2

Every blockchain has a particular transaction throughput (TPS) level. The higher the transaction speed, the better – but do not consider this to be a primary factor in choosing a blockchain. Layer-2 solutions are also essential for scalability.

Tokenomics: Max Supply and Distribution

Supply and emission schedule play a crucial role in determining the price of any coin on the market. See how many coins will ever exist and how many are already in circulation. How are new coins emitted? Will there be any further halvings or supply increases?

On-Chain Activity: Users and Developers

Finally, it all comes down to real adoption. What real-world problems does the coin help solve? How active is the community around it? Does it have real use cases and on-chain activity statistics?

The Conclusion

Neither of these coins is a better option in every possible situation – they serve different users. Determine which of them matches your preferences and needs the most, and make your decision accordingly.