There is tons of news surrounding the crypto space today.
Bitcoin is merely a part of the cryptocurrency market. There are various other cryptocurrencies which are finding interest among investors. Many experts believe that while most of the countries and authorities concentrate on Bitcoin, the other cryptocurrencies will also flourish.
This is the reason why investors are hoarding up Ripple as well as Ethereum in this downturn. Analysts, enthusiasts, and industry figures have very diverging opinions and bitcoin price predictions for both long and short-term. Optimism is still high in many quarters—reports of a new survey among British financials suggest a broad majority will buy more coins in the hope of price resurgence later this year.
So you may be wondering…which cryptocurrency to buy now?
Cardano (ADA) is currently ranked as one of the top 10 coins by Coin Market Cap, with an individual coin valuation (at the time of going to press) of 30 cents. It’s an entirely open-sourced, decentralized public blockchain project. The creators of Cardano claim the technology is evolving to be a smart contract platform which will deliver more advanced features than any other blockchain protocol. Like Ethereum, it offers the potential for additional cryptocurrencies to be built on top of it – something which crypto speculators see as a positive feature in any new or relatively new project.
Dash is something we can’t ignore. This is another more private version of Bitcoin; branded as a privacy-centric digital currency with instant transactions. It offers more anonymity than Bitcoin as it works on a decentralized master node network that makes transactions almost untraceable. Dash is also another entirely fungible cryptocurrency.
Dash is very fast in its standard transactions, and its “Instead” and “Privasend” features have even more functionality for a higher transaction fee, making it an ideal cryptocurrency in a retail setting. “Privasend” is a currency “mixing” feature that breaks down and shuffles your transaction with other transactions as a means of retaining payment anonymity. “Instead” is the other prime Dash feature that makes use of a “transaction locking” protocol within the master nodes to prevent the dreaded “double spending” predicament, while moving your Dash coin from point A to point B in a matter of seconds.
To spice things up, Dash has partnered with multiple companies to implement a “crypto-to-fiat” debit card that you can use to make purchases anywhere you would regularly use a debit card. True to its name, Dash coin is one of the fastest transacting cryptocurrencies around.
This coin aims to make blockchain easier for everyone to understand. The project offers affordable solutions for blockchain development, testing, and deployment of applications. An aspect of the Stratis project is their enterprise development platform. It is quite complicated to get involved in building blockchain-based applications, but the team has created a user-friendly solution with the goal of allowing almost anyone to do it.
Many companies and corporations existing outside of the tech world will massively benefit from this. One of the most attractive traits of the Stratis platform is its focus on native C# and .NET applications. Stratis wants to make the transition for software developers a lot smoother. Rather than using a very “heavy” and less known coding language like Ethereum’s Solidity, Stratis chose to develop its platform on C# and .NET because they are both extremely well known in the business enterprise world and already used by every computer running Windows, making it a prevalent and well-known language amongst developers. Moreover, the proprietary blockchain offered by the platform uses the latest advances in stability and security found in the Bitcoin protocol. So far, the company has partnered with leading blockchain platforms including Ledger, Microsoft Azure.
This is a platform built on a peer-to-peer network which allows users to market their computer hardware in a decentralized manner creating a global market for computation. They call it the “worldwide supercomputer,” for which anyone can supply, and anyone can buy.
Today, the cloud computing space is dominated by corporate giants like Amazon, Microsoft, and IBM. Due to a general lack of competition, the prices for these services are hugely inflated. Golem aims to disrupt this status quo and provide an extremely affordable and competitive alternative in the face of these corporate giants.
With Golem, everyday computer users, even those with low-end computer hardware, will have access to sophisticated applications such as computer-generated imagery (CGI) rendering, big-data analytics, and machine learning.
The platform will also provide an “Application Registry” which enables anyone to deploy software to the network, along with a “Transaction Framework” which allows for user-deployed applications to be distributed and sold. Together, these two components aim to create an environment for the rapid growth of community-driven innovations and applications.
The dream of Golem is to utilize and unite every available piece of hardware on the planet into one giant web of decentralized computing power: “The World’s Decentralized Super-Computer.”
Another blockchain application platform combining a fork of the “bitcoin core,” and an “Account Abstraction Layer” allowing it to run multiple Virtual Machines including Ethereum’s EVM as well as Proof of Stake protocols.
This robust hybrid blockchain implementation will allow for various smart contract and app possibilities while offering a lovely platform for developers. Their “Account Abstraction Layer” acts as a merger-bridge between Ethereum’s smart contract capabilities and Bitcoin’s Unspent Transaction Output model.
Qtum will also incorporate Oracle and Datafeed functionalities allowing the creation of original contracts built around verifiable automated sources of information.
Essentially, Qtum runs much like Bitcoin design with the added ability to execute multi-layered smart-contract functions through the abstraction layer. They propose this model is more secure than either platform and will allow businesses to protect their business secrets in smart contract executions.
Qtum will also benefit from the upcoming Bitcoin scaling solutions (like the Lightning Network) without suffering the scalability problems currently seen in Ethereum. They will avoid these problems by both implementing less demanding Proof of Stake algorithms and being compatible with future Ethereum protocol upgrades.
“Unbank the Banked with Ethereum”
OmiseGo is an Ethereum-based financial technology produced by Omise for the mainstream, providing digital wallets and enabling real-time peer-to-peer value exchanges across jurisdictions in both fiat currencies and cryptocurrencies. It is designed explicitly for financial inclusion and to disrupt existing financial institutions. Currently operating primarily in Asian countries: Thailand, Japan, Singapore, and Indonesia, OmiseGo plans to go full-scale on the entire Asia-Pacific region.
OmiseGo is an “in-development” mobile wallet device platform partnered with a physical debit card to merge the gap between “cutting-edge” blockchain cryptocurrencies and “current generation” infrastructure.
OmiseGo received $20mil in startup funding from Sinar Mas Digital Ventures, Ascend Money, and Golden Gate Ventures. Parent company Omise has contributed a lot to multiple blockchain projects like Ethereum’s DEVGRANTS initiative, Raiden, Hydrachain, Golem, Tendermint, and Cosmos. Omise is a very successful existing online payment platform with a very dominant base in the Asian markets.
Formerly Ant shares, NEO’s focus, much like Ethereum, is on “smart-contracts”: tentative agreements set in code into the blockchain ensuring everything once agreed upon happens as intended.
However, NEO’s approach to this is much different than Ethereum’s. Instead of operating their system on their cryptocurrency backed by the use of their platform, their cryptocurrencies (NEO, and GAS) are supported by fiat. Instead of representing permission-of-utility in the NEO system, their crypto-assets are just company securities. Not what you would expect from a blockchain company. However, they operate this way arguably for a useful purpose.
This coin is also hailed as the China bitcoin. Although Blockchain has been getting massive amounts of mainstream attention and countless investors of late, many traditional institutions and investment firms are intimidated by the “lack of tangible backing,” that is to say: cryptocurrencies are not backed by a physical asset and are therefore too risky for businesses and investments. Seeing this every day “traditional business” perspective, NEO devised a solution. By backing their cryptocurrencies and platform and performing their business transactions with real fiat currency, they may have opened the door to opportunities and investors many blockchain platforms will not see. This gives these traditional businesses and investors the familiarity and security associated with fiat currency they are looking for, as well as allowing them the countless benefits we know and love with blockchain.
When we discussed some viable Bitcoin alternatives back in December 2017, Monero was high on the list. The significant advantage of Monero is that it aims to be completely anonymous, which is beneficial for those that are operating in some of the murkier places on the internet.
Its more mainstream adoption will require some of the brand entities that start using blockchain and crypto technologies to invest in it and use it as their primary means of moving value around – the privacy will be the most important aspect to them. I can see Monero having a good year, especially if the mainstream press starts banging on about regulation, tax crackdowns and the same – total anonymity will be sought.
ETH has remained number two for a long time in the crypto space and with good reason. It’s a strong contender to have one of the best years in crypto based purely on its applications – every single time you hear about a new Initial Coin Offering; there’s a good chance that it’s based on Ethereum’s blockchain. That’s mainly powerful, but it can also be harmful in the long run depending on how much crazy coins start jumping on the network.
But, unlike Bitcoin, Ethereum was developed as a “world computer” super network of sorts, for the decentralized development of apps that would do away with third-party companies like Google and Apple. All of the apps developed on Ethereum are on a distributed public platform where miners work to earn Ether to fuel the network. Ethereum co-founder Joseph Lubin argued that bitcoin laid the foundation for blockchain technology, but ETH has the potential to be “more programmable money.”
10) Ripple XRP
Ripple seemingly came out of nowhere towards the end of 2017, when it briefly shot past Ethereum and then settled in third place in January 2018. Despite appearing to be a competitor to bitcoin, Ripple serves a different purpose and is, in fact, a centralized transaction network used by banks for money transfers just like SWIFT. Money sent on the Ripple network is converted into the XRP token on one end and then back into the currency of choice at the other end. Ripple’s management is sure that XRP offers a faster and reliable alternative to other tokens like bitcoin.
In conclusion, there are many coins to watch out in 2018. Moreover, the ICO industry is also expanding at a rapid pace. With ICOs like telegram raising about $700 million, it is a niche of the cryptocurrency market which can no longer be ignored. Keeping all of these factors in mind, experts believe that this can well be the year of Bitcoin and it will be able to recover the losses. Moreover, many experts think that it will be able to make new highs due to which it can be the best year for Bitcoin.
For crypto investors out there, it is wise to take calculated risks. Crypto investments are new and super-risky. Remember the Ethereum founder said that cryptos are so risky the price might drop to zero. Well, that doesn’t seem practical, but the message was clear. Do not invest your life savings in bitcoin or cryptocurrencies generally. Just like John Draper noted, you still need to buy stuff in fiat. So while bitcoin will likely worth a lot more in the future, it’s advisable to invest just as much as one can afford to lose.
This is indeed an exciting time and place to be in, knowing that the limited supply of bitcoin—a fixed supply 21 million BTCs—will play a role in its price; if not now, in the future!