Crypto

Top Cryptocurrencies with A Great Growth Potential in 2018 – Part VII

If you’re new to the crypto world and you’re searching for a coin that will be the next big hit, it can be a pretty daunting task to filter out all the fake ICOs and copycat forks.

This is a follow-up article to the list:   

OmiseGo

OmiseGo (OMG) is ranked 21st by CoinMarketCap, having a cap of $959,015,290, with a current value of $9.40. It has a total supply of 140,245,398 with only 102,042,552 tokens currently in circulation.

Omise is a venture-backed payment services company founded in 2013 that operates in Thailand, Japan, Singapore, and Indonesia. The company offers a payment management system for businesses to receive payments via their mobile app or online store.

The company created OmiseGo, an extension platform that is operated separately. It is not operated by Omise, but instead, it is owned and managed by its users and token holders. OmiseGO is an open payment platform and decentralized exchange that was built on top of the Ethereum blockchain.

OmiseGO uses a Proof-of-Stake (PoS) algorithm and is also the first implementation of Plasma, an Ethereum scaling solution created by Joseph Poon (Lightning Network co-founder) and Vitalik Buterin.

The platform aims to help the unbanked get banking services (through their open-wallet infrastructure), thus enabling first-time interchangeability between the many popular payment systems (ACH, VISA, and Paypal) and blockchains.

OmiseGo2

OMG is an ERC-20 token that describes smart contract code functions through the Ethereum network. These include token transfers or general token data access (supply, balance). This quickens the development by allowing developers to control pre-existing components and code blocks.

This blockchain enables a user to have unilateral control of traditional payment networks and financial services. OMG holders receive tokens for confirming transactions via a Proof-of- Stake (PoS) model.

The OMG wallet application stores OMG tokens that have the important role of confirming blocks as valid and then adding them to the blockchain. Keeping a certain amount of OMG tokens gives you the right to execute the confirmation process.

Each transaction that takes place on the OMG blockchain will need a transaction fee. The said transaction fee will be split among OMG holders as a “stake.” The more coins a user holds in the wallet; the more fees he will receive.

A big problem, not just for OMG, but for all cryptocurrencies, is the number of transactions the network can process. As seen with Bitcoin’s constant bottlenecks, this is a critical issue that plagues blockchain networks. OmiseGo aims to solve this problem with Plasma.

OmiseGo is backed by some of the leading financial institutions and advisors such as Ethereum founder Vitalik Buterin along with many other noteworthy individuals. This makes OmiseGo a very competitive player amongst its ERC-20 peers, and in the cryptocurrency world as well.

OmiseGo

ICON

Icon (ICX) is ranked 23rd by CoinMarketCap, having a cap of $829,058,445, with a current value of $2.14. It has a total supply of 400,228,740 ICX with a current number of 387,231,348 ICX tokens currently in circulation.

A South Korean-based company, ICON developed a blockchain technology and an in-platform token called ICX. The company advertises itself as an interconnected blockchain network that enables members from a decentralized system to meet at a central point. This is achieved by linking a community with other communities through the use of ICON Republic and Citizen Nodes.

The ICX token is a blockchain project which has the purpose of becoming the biggest blockchain network the world has ever seen by connecting all other blockchains. The price for the ICX token has been increasing gradually since its launch last year in October.

The coin is supported by some of the most important exchanges on the market including Bithumb and Binance.

Its market capitalization is nearing one billion dollars, although it still stands below $900,000,000. There are many that believe the token will make a steady comeback this year.

ICON

Ethereum Classic

Ethereum Classic (ETC) is ranked 18th on CoinMarketCap, with a market cap of $1,316,389,866, being priced at $12.88. It has a circulating supply of 102,209,737 ETC.

Ethereum Classic was created after the Ethereum blockchain went through a hard fork. The two blockchains are identical in every aspect up until block number 1,920,000. The hard fork was implemented so that DAO token holders would be refunded, meaning that all the balances, wallets, and transactions that were recorded on Ethereum before the hard-fork can still be found and are valid on the Ethereum Classic blockchain. Following the hard-fork, the blockchains were divided and decided to function independently from each other.

When the hard-fork was executed, users that did not approve of it opted not to upgrade their software and to keep on mining on the blockchain that lacked this implementation. Since the hard-fork makes the new version of the blockchain incompatible with the previous one, users that chose to stay on the “original” blockchain have moved away on their own blockchain which is identical to Ethereum in every aspect until the fork.

Ethereum Classic still provides the same features as Ethereum, such as acting as an environment for smart contract creation and deployment, along with support for decentralized applications. It also retains the same specifications, including the average block time, size and mining reward.

Even though ETC is forty times smaller compared to ETH, what most investors have come to realize is that in spite of their huge value discrepancy, they are the same coin. It’s the same coin in the sense that it shares the same code, and it can support the same dApps. The only thing that differentiates Ethereum from its newer counterpart, Ethereum Classic, is that they don’t have the same developers.

One of main reasons why the Ether’s price increased so much was due to the flood of coin offerings (ICOs) on the Ethereum blockchain. Should a wave of ICOs make its way onto the Ethereum Classic blockchain, then the value of ETC could also experience similar growth.

EthereumClassic

This is our list of cryptos that are most likely to capture the attention of prospective investors and traders this year.