Cryptosomniac selects their best cryptocurrencies 2019, the upcoming year. Selections were made on sound fundamnetals, realistic expections & use case.
Written by Jason Randle
5) Tron- TRX
Initially not taken very seriously by the crypto community, Tron has recently garnered attention for making moves this year. Allegations of plagiarism on the white paper led to much public outcry, yet the ICO was one of the best returns on investment on late 2017. Over the course of 2018, Tron has partnered with PornHub, acquired BitTorrent, and continued their public outreach as Justin Sun has promised from the outset. Additionally, Tron is integrated with the Peiwo app, China's premier audio content community with over 10,000,000 users. The integration of the Tron wallet into the Peiwo app significantly increased the number of users almost overnight.
The Pumpmaster Abides
Justin Sun is a marketing powerhouse. A graduate of UPenn, he is also considered Alibaba CEO Jack Ma's protege, and extremely well connected in China. Due to his affiliation with Jack Ma he was able to obtain several developers from Alibaba, which is the equivalent of getting programmers from Amazon to help work on your web store. As EOS displays serious governance issues, and Etherem demonstrated scalability concerns Justin Sun has been extremely vocal about getting devs who were using those blockchains to move to the Tron platform. If they continue the way they have been
4) Monero- XMR
Of all the privacy tokens on the market we think Monero has the strongest anonymity protocol. It uses a combination of ring signatures, stealth addresses, and confidential transactions and there is no way to accidentally broadcast a transaction without enabling privacy as there is with projects like Dash. With the recent addition of Bulletproofs XMR's transactions times have increased significantly, and there has been an 80% reduction in network fees.
How Bullet Proof Is It?
The US government has recently announced the Dept. of Homeland Security has issued a pre-solicitation announcement regarding a grant to crack Monero and ZCash respective privacy protocols.
This is essentially a request for hackers worldwide to submit proposals for how they would hack the protocol, which would then be funded with the full support of the US Government, which has very deep pockets.
Utilizing ring signatures obfuscates the address funds are sent from, confidential transactions to conceal the amount sent, and stealth addresses to camouflage the receiver, Monero fully anonymizes all user information from prying eyes. While this is attractive to individuals concerned with their sovereignty, this is anathema to the US government and flouts KYC and AML regulations.
If the DHS project is successful it could spell doom for the privacy token space, however if it fails it is likely we will see a surge in the valuation of several privacy tokens. The likelihood the public will become aware of the success of the project is slim, as this would make a powerful weapon for law enforcement officials looking to crack down on those using XMR for criminal activity. Whether or not there are any hackers savvy enough to complete the task remains to be seen...
3) Stellar- XLM
Stellar Lumens was designed from the outset to be a financial platform. It has a number of advantages in the space including extremely low network fees, it is more decentralized than it's cousin XRP, and it has recently overtaken many other cryptocurrencies to hold the #4 spot by market cap. It is very impressive to see Stellar remain competitive in a market where many other cryptocurrencies are falling to the wayside.
XLM has also aligned itself with several large name companies. Most notably is IBM, who has historically backed Hyperledger. Stellar has also partnered with payment processor Stripe, and startup focused Angel List. Additionally there are already several DEXs and a forthcoming STO platform, making stellar a contender for the upcoming 2019 Security Token market.
2) Ethereum- ETH
Ethereum is the first major blockchain to allow for decentralized apps that use smart contracts to build on it. The ICO craze of 2017 was due in large part, to Ethereum and the ERC20 protocol. Hundreds, perhaps thousands, of projects are built on Ethereum. Even while many cryptocurrencies have migrated to their own blockchain, more still remain and were built with the intention to stay on Ethereum. Now as various ERC protocols are being developed to solve specific problems like non-fungibility or issuing digital stock certificates, Ethereum is poised to move into tokenizing all sorts of assets, from fine art to concert tickets.
The largest name in cryptocurrency in all likelihood, Satoshi Nakamoto aside, is Vitalik Buterin. He is for many, the first public figure people point to when speaking in the cryptocurrency space. He has also parlayed his success into several other large blockchain organizations including OmiseGo and Kyber. Rumors he was being courted by Google earlier this year in 2018 led many to fear he would leave Ethereum, but he publicly decried their efforts shortly after, proving his dedication to the crypto space.
Ethereum Enterprise Alliance
The Ethereum Enterprise Alliance (EEA) was set up in order to establish connections with already existing and major corporate companies. The EEA is widely recognized as one of the largest community of active developers, and subject matter experts in the blockchain ecosystem.
1) Bitcoin- BTC
Lastly, and it should be no surprise, to see Bitcoin at the top of our list. Bitcoin, by far and away, has the most liquidity and largest market capitalization. Additionally, it is no secret that nearly all of the altcoins follow the direction of Bitcoin. Typically when Bitcoin goes up, altcoins go up. Conversely, when Bitcoin goes down, altcoins tend to follow. Until more coins and tokens decouple their valuations from BTC, this remains the one coin to rule them all.
More so, Bitcoin also has the longest blockchain, as it has established itself as the longest standing cryptocurrency and first to date. Bitcoin's blockchain first began on Jane 3rd 2009 and has proven itself as the most robust, secure, payment protocol on the planet. It has never been hacked, despite repeated attempts to do so in 10 years.
To name a few other reasons:
- * Proof of work is more durable than any other alternative
- * Has most fiat pairs of all cryptocurrency
- * It has the brand recognition - it is the first cryptocurrency anyone will learn about
- * Supported by every major wallet
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