What Is Antshares?
Antshares is another promising concept that is receiving a lot of attention. The token is referred to as the "Ethereum of China" and has captured the attention of both Chinese and American markets.
That said, the growth has been fairly dynamic — especially on the tail of Ethereum, which initiated a wave of buying for altcoins.
Antshares is currently up 2,207% — moving from a starting price of $0.39 in September 2016 to a high of $9 in June 2017. Like the rest of the crypto market, the price entered a lull in late June.
A four-digit growth is nothing to shake a stick at.
But, in the case of an Ethereum look-alike, it prompts a lot of questions.
Is Antshares just another altcoin that's benefiting from Ethereum's popularity? Or does it have a unique technology that will ensure its own success?
Is Antshares a Good Buy?
It's hard to take a digital currency named after an insect seriously. But Antshares is actually a fairly interesting technology.
Sidenote: Antshares is undergoing new branding. You can check that out here.
It's very comparable to Ethereum and acts as a decentralized peer-to-peer network. And it allows individual investors to take part in decentralized financial exchanges. Like Ethereum, the token can be used for raising equity or crowdfunding.
Antshares is already tackling many of the scaling issues that tripped up Ethereum. Tackling issues before massive market exposure will be a positive for the digital currency in the future. Ethereum's grapple with scaling issues has shaken overall investor confidence.
Antshares also has a lot of power behind it, which is usually an indicator of good utility. Google backs Ripple, and Ethereum has an entire alliance — the Enterprise Ethereum Alliance (EEA). Both support systems indicate that the currencies will do well (and they have).
For Antshares, the support list is impressive, with multiple multimillion-dollar Chinese companies — including Alibaba, China's central e-commerce retailer.
Of course, with all digital currencies, finding this support is like falling down a rabbit hole. There is hard proof that the digital token is being used to improve email systems and tracking for these e-commerce sites. Other than that, I struggled to find anything solid. But that might be partially my own fault. I am often thwarted by Antshares's biggest problem: its language barrier.
You may wonder why a revolutionary technology like Antshares hasn't been adopted by the mainstream world yet.
The main issue is the language barrier. Murmurs of this digital currency just started in the U.S. market. And the currency isn't as readily available as Ethereum. The only American exchange you can buy on it Bittrex by using Bitcoin as payment.
Antshares Takeaway
Antshares is a cool concept that's had more market exposure than EOS. It's already producing functioning technology and is being adopted by Chinese companies. It may continue to grow with more exposure to the western market (particularly the adoption of other exchanges). But whether or not that will happen is still up in the air.