Virtual currencies are considered not in vain to be the most profitable asset of 2017 and their attraction for investors is out of being doubt for everyone. While we can track non-standard tendency within last few months: investors pay their attention to new cryptocurrencies more frequently due to completely various reasons. Taking into account this issue topicality let us set a brief review of new cryptocurrencies, which became popular in 2017.
Bitcoin Cash (BCH) is the Bitcoin version which has been formed due to hardfork of original blockchain.
Bitcoin Cash and Bitcoin protocols are almost identical:
PoW on the basis of SHA-256 hashing algorithm;
emission is limited by 21 million of coins;
similar rewards system.
The key BCH differences are the blocks of 8MB (1MB for Bitcoin network) and changes of mining complexity via each 6 blocks (not via each 2016 blocks, like it goes about Bitcoin).
Bitcoin Cash has appeared on August 01, 2017. BTC holders who had private keys from their Bitcoin wallets and stock exchange users have managed to get it free of charge.
EOS.IO is the software which presents blockchain architecture, which has been developed specifically for vertical and horizontal scaling of decentralized projects. This software enables users to get access to accounts, data bases, authentication means, asynchrone connection, applications simultaneous planning at several cores of central processor or clusters.
This results at the issuance of blockchain architecture, capable to be scales for millions of transactions per second without commission fees and with the option of fast and light launching of decentralized applications.
Bitcoin Gold has been developed by the team under the guidance of Jack Lao- SEO of LightningASIC company located in HK. According to the authors statements the project main idea is at the development of improved protocol, which is capable to compete Bitcoin Cash and to overcome original Bitcoin.
This new currency seems extremely attractive for miners as its mining is possible only via GPU video-charts. Moreover taking into account Bitcoin forks variety the coins mining via graphic adapters is possible only at BTG network.
This asset specific trait is the functioning on the basis of Equihash algorithm functioning. This asset has been developed for GPU-miners operation. Bitcoin Gold system is also characterized by the consistence to ASIC-devices.
IOTA – is the protocol of distributed assets with open source code, coming outside blockchain frames at the account of off-block technology Tangle. This technology is a directed acyclic graph with the protection from quantum interference, without commission fees for transactions and limitations of transactions amount confirmed within couple of seconds. The more cryptocurrency network is active the greater capacity it has, the faster system works.
IOTA does not have the division between validators and users, which is topical for blockchain architecture. This network considers under “validation” the inner capacity to work with register allowing centralization avoiding. IOTA acts as the basis of becoming popular IOT.
NEO – is the platform via which users can issue and sell digital assets. This cryptocurrency has appeared due to re-branding of Antshares coins and tokenizes the proof of asset ownership, but not the asset itself. Such approach allows avoiding various legal limitations, including the ones related to the transfer of assets, shares and bonds.
NEO token is the share at the platform with the same name. Its holders can participate at all discussions related to the changes of cryptocurrency blockchain.
OmiseGO is public financial technology on the basis of Ethereum, which is available for usage at popular wallets in order to provide peering trade with digital assets in real-time mode. At the same time this project can be successfully used in jurisdictions, where available services are not developed well enough.
OmiseGO allows successful operation both with digital and fiat money. The access to platform is provided via OmiseGO system and digital wallet capsule
OTN (Open Trading Network) – is the project which is designed for the unification of isolated blockchains in order to develop totally new services, products and activity spheres. OTN is a decentralized network with the option of transparent, fast and secure exchange of digital money.
Open Trading Network uses original token OTN token, which is required for cross chain transactions, rewards and insurance for system users. One can get OTN tokens only during CFD and cryptographic instruments trade at IQ Option.
Storj – is decentralized platform of cloud mining storage allowing each user to earn at the provision of non-used space rental at hard disc of their PCs. End users using Storj can benefit from the information storage at one range network, which differs by the protection from servers’ failure, hacking and censorship.
The payment for the usage of platform is done inside network in via own ERC20-tokens, created at Ethereum basis.
Civic is a decentralized identification eco-system allowing system verification by low cost and safe way. This digital identification platform enables the possibility to create own digital identity and its storage with personal data at device. Such information is initially checked by validators and then added to blockchain and afterwards the verified service provides can check it having verified their identities as network participants.
Service providers use CVC tokens created at Ethereum basis for getting information about the users. in other words organizations user this cryptocurrency tokens as payment mode.
TenX – is cryptocurrency platform, which includes debit card, wallet, access to cash dispenser and other options. Unlike most modern popular applications, allowing to spend Bitcoin, TenX only. It provides the possibility to use as a mode of payment altcoins like ETH, DASH и т.п.
Currently the platform can be downloaded from Play Market. Afterwards it should appear at AppStore. The application is at the initial development stage, causing various bugs to appear, but the developers are constantly working on its improvement.
The holders of PAY- tokens get 0.5% back from each transaction, made via TenX-card or application. This concept has been assessed by lot of users of cryptocurrency sphere, as the perspective index grows makes 10% and seems rather realistic. According to platform developers it will become possible in case of growth of the amount of TenX users and transactions amount increase.
Tether – is the project, which connects technology, which is used at Bitcoin network to fiat currencies. This technology makes possible to use all the advantages of blockchain technology, using money connected to European Central bank or US treasury. According to Reeve Kollins statement project CEO, Tether transfers US dollar to virtual form and moves obtained “digital dollar” to blockchain.
Tether makes USD, JPY and euro conversion to appropriate Tether-tokens. Reviewed coins are completely backed up by traditional fiat money at organizations account, which remain 100% transparent and available for by audits. This option warrants complete correspondence to the stipulated reserves. Tether tokens can be exchanged via platform to appropriate currencies any time.
They use mastercoin/omni protocols for the creation of Tether tokens. These protocols provide transactions hashing at Tether network and their getting to Bitcoin blockchain, where they are verified by miners together with other transactions.
Monaco – is the cryptocurrency debit card which is fully compatible to Bitcoin and Ethereum. This payment system has the following peculiarities:
internal transactions without commission fees
information about exchange rate and currency price in real time mode via mobile application;
biometric identification;
free conversion of USD to euro and back;
BTC and ETH conversion to fiat currencies is subject to 1% commission fee;
commission fees are accumulated in specific pool and forwarded for the purchase of MCO-tokens.
AdEx focuses at entertainment industry and is a decentralized advertising stock exchange, functioning at Ethereum network. This platform supposes replacement of traditional digital advertisement types, having implemented transparent solution via which advertisers can directly contact advertising distributors without mediators and all accompanying difficulties and commission fees.
ADX tokens are used in frames of platform for the purchase and sales of advertising time and space.
BAT (Basic Attention Token) is the token made at Ethereum basis and providing access to various advertisement service and resources located at Brave platform. The latter is new digital advertising system implemented on the basis of blockchain technology.
The users’ behavior is monitored via Brave browser. Users publishing original content get reward in BAT tokens.
Qtum is a decentralized blockchain platform, which is designed for the creation and launching of decentralized solutions and complete Turing smart contracts. The platform supports UTXO. Qtum has implemented consensus mechanism Proof-of-Stake, while QTUM is a basic token of cryptonetwork blockchain.
Summing up we would like to pay attention to the most brand new cryptocurrencies of 2017:
GNT: it has been implemented by “Golem” company. The project essence lies at the creation of decentralized super PC at the account of connection of connected users PCs power.
SNT: its goes about tokens placed by Status start-up. These tokens have shown the price growth amounting to 193% within a week. They currently act as perspective investment asset for a future.
TaaS: this cryptocurrency has been created by the professionals and its network reminds so called closed club. This cryptocurrency developers’ main task has been to minimize holders risk and remove all brokerage barriers.
BRANCHE.IO: this digital asset specific trait lies at the fact that it provides basis for the usage of banking services, like getting micro loans.
DINARDIRHAM: it goes about one of the popular micro platforms opening various investment options. This cryptosystem provides the possibility to purchase gold and various fiat currencies.
Cryptocurrencies become more popular and widespread investment asset. This fact is not surprising as the projects perspectives are rather high. There are no doubts that cryptocurrency sphere will keep providing new solutions, differing one from each other by various advantages for investors. It is up to you to decide where to invest! The only thing we can say that each investment of such type is sure to bring profit.
I'd also look into WaBi, Cardano, and NexusEarth. This list could go on and on since there are quite a few cryptocurrencies to look out for.
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