The Top 10 Cryptocurrencies of 2018

As we all gear up for the new year, there has been a lot of buzz here and there, cryptocurrencies being an integral element of the buzz. We all have a lot of new year resolutions and goals set out to achieve. However, one sure thing is that we want to make more money. We can do that either by investing our time, energy or even money. But one thing that leaves us confused is where to invest these resources. This is not mainly due to the scarcity of investment opportunities, but difficulty in identifying the right investment opportunities. Since, we know which resources can be invested, we will be educating you in where to invest these resources.   

 

In 2017, we came across a lot of investment opportunities,but one thing that experienced huge growth is Cryptocurrencies. Cryptocurrencies went from what most people considered as another Ponzi scheme to something a lot of investors are interested in. Just in case you will also like to invest in cryptocurrencies, these are the top ones you should watch out for in 2018.   

1. Bitcoin

It shouldn’t be at all surprising that topping this list, is the first conceptualisation of the blockchain technology. In 2009, the anonymous Satoshi Nakamoto mined the first bitcoin and ever since, it has experienced huge growth. It went from just a community of few users in 2009 to millions of users in 2017. In less than a decade, this digital currency have moulded the industry from an idea most people are skeptical about, to something a lot of people want to be a part of.   

However, even with the promising future of bitcoin it also had it challenges in the past. In 2010, a major vulnerability was discovered in the bitcoin protocol. This lead to the creation of an indefinite number of bitcoin and further exploitations. The bug was fixed within hours, and all illegal transactions were retracted.   

The bitcoin security have increased ever since and it has been adopted by a lot of people. As at 2015, over 100,000 merchants and vendors had accepted bitcoin as payment. The numbers have since increased, and is going to further increase in 2018. Also, with the huge increase in the price of bitcoin in 2017, it’s not something that should be overlooked in 2018.  

2. Ethereum

Another cryptocurrencies to look out for in 2018 is Ethereum. Ethereum is one of the fastest growing cryptocurrencies. It is an open-source distributed computing platform built on top of the blockchain technology. Apart from the Ethereum Virtual Machine, it also provides a cryptocurrency called Ether, which is similar to bitcoin. It is currently valued at over $700 per ether.     

It was first proposed in 2013 by Vitalik Buterin, a programmer who was involved in Bitcoin Magazine. He went ahead to develop Ethereum with other people, when he failed to convince people that Bitcoin needs another scripting language for developing applications. It was funded in 2014 through an online crowdsale and was finally launched in the second half of 2015.   

Pioneering the blockchain-based decentralised application platform, ethereum has grown ever since and there’s clearly no going back.   

3. Litecoin

Litecoin is more or less Bitcoin with a little more spice in it. It is same as bitcoin, but with a little modification to make it better for both developers and users. With a 2.5 minutes block processing interval, it is said to have faster transaction confirmation. Also, with its price at $371 per LTC, it makes it easier for people to invest with little amount of money. Although, it is cheaper for users, but we can’t say the same for developers. With its usage of scrypt, a memory-hard function in its proof of work algorithm, the devices made for mining Litecoin are more expensive.    

Ever since it’s debut in 2011, it has experienced immense growth. Including a 100% 24 hour leap in 2013, reaching a billion dollars are the capitalisation. As the first cryptocurrency to adopt segregated interest, it was able to complete the first lightning Network transaction.   

4. Dash Dash,

which is formerly known as Darkcoin and Xcoin, is also an open source peer-to-peer cryptocurrency. Just like Litecoin, it is also an extended form of Bitcoin. In addition to what bitcoin offers, it has InstantSend, which is used to perform instant transactions. It also allow the performance of private transaction with its PrivateSend, while operating a self-governing and self-funding model.    

The name, Dash is a blend of the words in “Digital Cash”. Making its initial presence in January, 2014 with the name XCoin. After which it changed its name to DarkCoin within a month after its release. After which it was rebranded as Dash.  

Starting out very slim, it has been able to grow its team of developers to 30 full-time and 20 part-time employees, and a huge number of unpaid volunteers. Currently priced at approximately $1103, it appears to be more expensive than Litecoin  

5. NEO

Neo, just like Ethereum, is a blockchain platform which allows for the development of digital assets and smart contracts. Formerly known as Antshares, Neo has been qualified by many as the Ethereum of China. Supporting up to 10,000 transactions per second, it describes itself as a “distributed network for smart economy”.    

It is a China-based project which was originally launched in 2014 as Antshares. Although, still in its infant stage with a bright future, it is currently priced at approximately $16 per unit. With about 12 main community members, Neo has a current market cap of over 1 billion dollars.   

The NEO token is the investment token of the Neo Blockchain. With a total of 100 million tokens pre-mined in the initial block creation. Unlike other cryptocurrencies, it is non-divisible, with the smallest unit being 1.    

6. Lisk

Another decentralised Blockchain platform is Lisk. Lisk follows Ethereum in creating a decentralised application platform, with a difference in its development process. Unlike Ethereum’s Pos, Lisk uses DPoS. Although, Ethereum has plans to switch to PoS soon. Also, Ethereum uses solidity (which is quite similar to JavaScript) as opposed to JavaScript used by Lisk. Some other notable differences which can be said to be due to the fact that Lisk is still in development are listed below. ● Ethereum’s applications are run through a virtual machine. However, Lisk still has its virtual machine in development. ● The error handling in Lisk is still quite substandard compared to Ethereum,due to its lack of a virtual machine. However, it is in development. So, that will be fixed soon. ● Unlike Lisk applications which are stored on  the side chain, Ethereum applications are stored on the main chain. Starting as a fork of Cryptic with an ICO, it went ahead to 14,000 BTC, making it the second most successful cryptocurrency crowdfund at that time.    

Taking up its position as the second most successful thing in the popular cryptocurrency traded against Bitcoin list, it generated a lot of buzz after its debut in 2016. Currently price at $22 per unit, and a market cap of over 2 billion dollars, it is gradually moving towards its goal of becoming the first successful modular cryptocurrency of its kind.   

7. Tezos

According to the Tezos website, it is a new decentralized blockchain that governs itself by establishing a true digital commonwealth. It is a decentralised Blockchain platform like Ethereum. It debuted in 2017, with a white paper release. After then, it launched a fundraiser, getting a lot of contribution. Just like Ethereum, it offers an incentive for users. However, Tezos went a step further from the regular incentives Ethereum offer, by allowing developers contribute to decision making. Tezos allows for the creation of bounties to implement specific features, thereby taking their incentives further.   

Unlike other blockchains which offer financial incentives for maintaining ledger consensus, Tezos take a different approach. They allow developers to attach an invoice to be paid out to their address upon approval and inclusion of a proposed upgrade.   

Although, Tezos is set to begin transactions in 2018, they are one of the top Blockchain based platforms you should look out for. Their team, governance and technology has a new and promising feel to it.  

8. OmiseGo

OmiseGo is an open payment platform and decentralised exchange issued on Ethereum. With its”Unbank the Banked” slogan, its goal is to provide everyone with better financial services. Focusing on both traditional bank users and those who lack traditional banking systems. OMG,theOmoseGo token broke the record as the first Ethereum project to exceed 1 billion US dollars valuation. Not only that, it is currently the fourth highest Ethereum project market cap in the world.   

For a project which was founded in 2017, it has broken many grounds. This feat is not surprising,as it is backed by Ethereum co-founders, Vitalik Buterin and Gavin Wood. Founded by Jun Hasegawa and Donnie Harinsut, the founders of an already existing company named Omise. Raising over USD $25 million and turning down over USD $100 million, it is one of the world’s highest market cap ERC 20 cryptocurrency.  

“OmiseGO offers a solution to the co-ordination problem between payment processors; financial gateways and financial institutions. It enables financial transactions, including “payments, remittances, payroll deposit, B2B commerce, supply-chain finance, loyalty programs, asset management and trading, and other on-demand services.”  One exciting news for all is that​ ​ the OmiseGo completed network will be made publicly available without claim of ownership by the founding company, Omise. The OmiseGO White-label Wallet SDK is set to the released in Q1, 2018.   

9. Binance

Binance, a portmanteau from Binary and Finance, is a cryptocurrency- only trading platform. It allows over 50 different cryptocurrencies to be traded on its platform. Gradually updating its list as new cryptocurrencies are released. It also has its own digital currency known as the Binance Coin.   

This Chinese- based platform uses the standard from Ethereum (i.e the ERC 20 token). The Binance Coin can be used to pay exchange expenses on the Binance trade. This exchange expenses include exchange charges, posting expenses etc. As part of their incentives,they give a rebate when the charges are paid in BNB. The rebate reduces yearly till the fifth year when it stops.  

In the first year, there is a 50% rebate. It is halved in the second year,coming down to 25%. Further halved in the third year, making it 12.5%. Next is 6.75% in the fourth year, and a 0% rebate in the fifth year upward.   

If you haven’t considered purchasing or trading BNB earlier, now is the right time to do so. There is still a lot of time to enjoy the rebates. With its declaration of a buyback arrange of up to 100 million BNB in Q1 2018. This arrangement is set to devalue the purchases in other to build other coins.   

 Some of the things that make Binance standout is its strong team, proven products and superior technology.  

10.Stellar

Lumens Stellar is an open-source money exchange protocol. It is a global value exchange network, formed by servers running a software implementation of the protocol with the use of internet to aid connection and communication with other stellar servers. It enables transaction proposal in other to make changes to the network accounts in the ledger.   

After its launch in 2015, it has been implemented by various business as a financial infrastructure. One of its users is Praeklet Foundation, a non-profit foundation in Africa. Praeklet will be integrating it into its open-source messaging app named Vumi. After the implementation, Vumi is set to let young girls in sub-saharan Africa save money in airtime credits. Amongst other partnerships in the Philippines, West Africa and India, Oradian also plans to use it to connect Microfinance Institutions in Nigeria. Oradian is a cloud-based banking soft company.   

Also partnering with IBM, it is set to transform the global payment system. With its development growth, it is no surprise that it’s getting a lot of attention globally. It went from a forked Ripple protocol, to a new consensus algorithm with a completely different code.