2017 can rightfully be considered the year of the cryptocurrency breakthrough. Bitcoin has proven to the whole world that to exchange assets and make purchases abroad, you don’t need arrogant banks with their high transfer fees and requirements for customer reliability. Now you can transfer money to anyone, anywhere, without asking anyone for permission. This advantage over aristocratic financial institutions made Bitcoin also attractive as an investment opportunity. Its rate is growing and it is pulling other cryptocurrencies along with it. This is what our article is about. Today we are talking about cryptocurrencies suitable for investment in 2022.
Which cryptocurrencies are worth investing in?
We have received several messages from our users with a similar question: “Which cryptocurrency is promising for investing right now?” We really thought about these questions, but decided not to settle on any one currency. As a result, we have formed a top list of the most promising currencies for investment in the outgoing 2022 with the expectation of growth of the formed crypto portfolio in 2022.
Stellar Lumens
Stellar has been in the shadows for a long time. More precisely, it didn’t shoot like some other currencies. By the end of 2022, its power becomes truly noticeable.
This is a payment infrastructure development project supported by IBM. And this fact alone speaks volumes. Companies of this level do not take anyone under their wing.
Moreover, Stellar is focused on working within the banking system, has already been tested in the field, and is in contact with some banks.
It is also a platform for application development - like Ethereum. Only with scalability, Stellar is completely fine...
Which cryptocurrencies will grow actively in 2022?
When compiling the top promising cryptocurrencies, we studied the technologies behind each cryptocurrency, who controls the issue, and whether new coins can be created out of thin air. When compiling the rating of cryptocurrencies, data from coinecko was also taken into account, including: public interest, development activity, community support.
Preface: the value of cryptocurrencies is dictated by a speculative component, the market is inflated in hopes of a promising future for blockchain technology. The deflationary nature of cryptocurrencies eliminates the possibility of inflation. The value of a particular cryptocurrency depends on the current number of coins in circulation relative to their market capitalization.
Bitcoin price as of November 29, 2017: $11,441 (capitalization 191,164,946,042 / number of coins 16,708,762).
List of the most promising cryptocurrencies:
- Ethereum Classic (ETC)
- IOTA (MIOTA)
- Lisk (LSK)
- NEM (XEM)
- Golem (GNT)
- EOS (EOS)
- PIVX (PIVX)
- OmiseGO (OMG)
- Metaverse ETP (ETP)
- Ubiq (UBQ)
- ZenCash (ZEN)
Ethereum Classic (ETC)
At his presentations, Vitalik Buterin, founder of the Ethereum Foundation, often uttered the slogan: “Code is the law.” The entire Ethereum ecosystem is built on the basis of smart contracts. The concept of this platform, built on “smart contracts,” appealed to many programmers. The rapid growth of cryptocurrency capitalization has begun.
In the wake of the success of Ethereum, The DAO project was created. At its core, DAO is a smart contract on the Ethereum platform that allows you to vote, if there are tokens of the same name on the user’s balance, for financing new applications from the DAO fund. To allow investors to leave the project, a special function was created - split. On June 17, 2016, hackers requested a split by adding a recursive function to the request, so the split began to happen an infinite number of times. In a short period of time, a third of all system tokens ended up in the hands of scammers. This resulted in a sharp drop in the price of The DAO tokens and, of course, a collapse in the price of Ethereum (ETH). The hacker’s wallet with the fund’s assets was frozen, and subsequently it was decided to carry out a hardfork, which meant creating a copy of the Ethereum network with a return of funds to investors.
Against the backdrop of the above events, Ethereum Classic (ETC) was born, which preserved the original Ethereum network, without outside interference. So, roughly speaking, ETC is ETH in its early stages. Ethereum is distributed under the General Public License and its source code is open, therefore Ethereum Classic can take only the best and already proven ones from there, avoiding erroneous decisions of the Ethereum Foundation.
At a recent summit, the classic ether team raised the issue of removing the so-called complexity bomb from the code. They refused to switch to PoS by updating the diehard protocol, which made the currency promising for mining. The slogan on the summit website: “We look forward to uniting the ETC community in 2018!”
Steem
Steem is a token belonging to the Steemit platform. This is a decentralized blogosphere where authors receive compensation for their posts in the internal currency - Steem dollars. These dollars are then exchanged for the public token Steem, which in turn can be converted into fiat (dollars, euros...) on a cryptocurrency exchange.
The potential of the Steem token lies in the value of the platform itself. Participants are focused on creating quality content, as they receive monetary rewards for this. The better and more you write, the higher your earnings. Inside the platform there is Steem Power (the power of Steemit), which allows members to vote. To obtain it, you also need to use the dollars you earn.
The idea of the blogosphere with monetization of author's content turned out to be very innovative. Without Steemit, projects like Golos or Nimses would not have appeared. There are now about 400,000 registered users on the platform, and daily traffic exceeds 10,000.
The potential for growth is enormous. When searching for content in search engines, materials from Steemit are often in the first search results. The blogosphere was launched in March 2016, and in 2018 it could reach its millionth user.
IOTA (MIOTA)
The name of this currency rests on the term IoT (“Internet of things”). Cryptocurrency allows for a large number of micropayments. Even if they are performed several thousand times, the system will still not have any failures or problems. The main advantage of IOTA is that it makes it easy to carry out microtransactions, since fees usually make small money transfers too expensive. The MIOTA network does not require miners; it is based on a directed acyclic graph. The owner of tokens can approve the transfers of other community members. The IOTA code is based on the BTC code, but at the same time eliminates some of the disadvantages of Bitcoin: centralization, due to the pooling of miners into giant pools; high commission fees, allowing micropayments; scalability limitation, network complexity will not increase due to the influx of miners.
Cryptocurrency startup IOTA announced the launch of a new data monetization platform based on its own Tangle distributed ledger technology. Microsoft, Fujitsu, Bosch, Deutsche Bank Telekom and other companies are taking part in the development of the project. Experts predict that by 2022 the number of connections using IoT technology will exceed one billion. Therefore, the need for a low-cost, scalable and completely secure micro-transaction mechanism is completely clear to everyone.
Lisk (LSK)
The Lisk project is the first modular cryptocurrency based on sidechain technology.
Let's figure it out: what is sidechain? Imagine, you transferred bitcoins from your wallet to the account of the exmo exchange, in fact, the participation of the blockchain at this stage is completed, but at the same time, a record with your name and the number of coins in the account appeared on the exchange in the centralized database. Now you have the opportunity to move funds between users within the system instantly and without commission using EX-CODE. At this moment, in the real Bitcoin blockchain, these coins are “frozen”; subsequently, the new owner can receive these coins and transfer them to his “cold” wallet. Eksmo acted as a “black box” (intermediary) and all operations were based on trust in this exchange. Lisk offers a similar experience, only this time the middleman is removed from the interaction. To confirm a transaction on the Bitcoin network it takes one hour, 6 blocks of 10 minutes. And now. send bitcoins to a special Bitcoin address, which will then become inaccessible to anyone. They will become completely frozen until someone can prove that they are no longer used anywhere. When the frozen transaction receives this confirmation, you send a message to the other blockchain - the one you are going to use - saying that the advance is frozen. If a second blockchain has agreed to be a Bitcoin sidechain, it does something very special - it will exchange those coins for coins on its network. In fact, we simply moved coins from one network to another. You can start using these coins in another blockchain according to their rules (for example, Ripple rules with instant transactions). Thus, the sidechain allows you to “freeze” funds in the main blockchain and transfer them to the child one. This allows not only to increase the speed of transactions, but also eliminates the need for developers to create their own currency.
In simple words, what a sidechain can be used for: suppose there is a certain cryptocurrency CardCoin, which allows you to pay for goods with a bank card, you replenish the account of this semi-centralized system using the main blockchain and calmly pay in the store with a CardCoin card.
The official website of the project provides a list of related projects:
- BlockData (smart home prototype based on Lisk)
- Criterion (concept - proof of existence)
- Discovr (social network for artists)
- MarketPlace (decentralized store powered by Lisk)
There is a widespread belief on the network that this fork can effectively compete with the well-known Ethereum platform. Indeed, at first many analysts viewed them as competing platforms.
Some believe that it appeared too early and society is not yet ready to accept such technologies into their daily lives.
As for users interested in the topic of cryptocurrencies, for the most part they believe in the future of Lisk, as they consider the development team to be very professional. Especially after Hoskinson and Nerayef joined her. Many, in unison with analysts, note the fact that the new development represents a unique platform for creativity and consider it an evolutionary breakthrough based on the analysis of past mistakes. Both developers worked on the Ethereum project.
conclusions
This article contains a collection of new promising cryptocurrencies in 2018. I cannot look into the future and know what the price of these coins will be, but I think that the technologies or ideas that they represent are very interesting, these promising unknown cryptocurrencies are not yet being promoted much, and therefore the coins can grow. What coins do you buy? Which ones do you consider promising? Write in the comments!
If you find an error, please select a piece of text and press Ctrl+Enter.
NEM (XEM)
The New Economy Movement is Asia's answer to Ripple, with a few differences. Unlike XRP, which does not require mining, XEM uses a proof-of-importance (POI) algorithm. Any user who has at least 10,000 XEM in their account can participate in mining the NEM cryptocurrency. At the same time, not only the wallet balance is taken into account, but also the number of completed transactions. Such a system is considered more fair and innovative.
NEM blockchain software is used on the open blockchain network Mainet and the commercial blockchain network Mijin, which is being tested by financial institutions and private companies in Japan. NEM's first client was the largest Japanese trust bank SBI Sumishin Net Bank. NEM has strong connections with Dragonfly Fintech and Tech Bureau. Both companies have integrated NEM code into their projects. The same people participated and are participating in the development of NEM and Mijin.
Mijin was tested for 3 months by the NRI research group and showed its best performance, meeting all the hopes of its creators. 2.5 million accounts were involved in the verification, and almost the same number of transactions were carried out per day. With such a busy schedule, the network withstood the load, proved its security, did not succumb to any external influences and did not make mistakes. Mijin guarantees privacy, KYC procedure, and transactions are carried out at very high speed. Such a high result forced a number of financial organizations to take a closer look at the network.
Fundamental analysis shows that this cryptocurrency has good prospects, it is developing, and many new and interesting things are expected.
Golem (GNT)
Golem is the first truly decentralized supercomputer, creating a global marketplace for computing resources. It connects computers in a p2p network, allowing one user to rent resources from other users' computers. The network runs on smart contracts and the Ethereum blockchain.
Thanks to its microservice architecture and asynchronous task execution, Golem should become the basis for future Internet service providers and software developers. And due to the fact that the cost of computing is significantly reduced, complex programs (CGI rendering), scientific calculations and machine learning become more accessible to everyone. Today, such resources are provided by centralized cloud service providers, but they have the disadvantages of closed networks, proprietary payment systems and strict restrictions on program code. In addition, Golem is based on a special transaction system based on Ethereum, which allows direct payments between customers, suppliers and software developers.
Some of the Golem team members have worked together on projects such as Ethereum, Hydrachain and Morfa.
Thus, the prospects for the Golem cryptocurrency look promising. If the developers' plans come true, then we are on the verge of great opportunities in the field of computer computing and microservices.
Ripple
Ripple (XRP) has borrowed SWIFT technology from the banking industry and introduced a small but very useful improvement. Inside Ripple, all transactions occur many times faster than with bank transfers. At the same time, commissions are also several times lower.
The benefits of Ripple have become evident in recent years for a number of major global banks: Abu Dhabi Bank, Standard Chartered, Santander, Shanghai Huarui Bank, Unicredit, SBS, Reisebank, ATB Financial and many others.
Ripple is not exactly a cryptocurrency, but rather a super-powerful payment system with elements of cryptography. The coin is far from new on the market, but has enormous potential due to its ability to integrate into the banking system. We expect that in 2022 Ripple will cease to be a cent coin.
EOS (EOS)
The EOS project was announced in May of this year at the Consensus 2022 conference in New York, and one of its inspirations is the notorious Dan Larimer, who was behind the creation of BitShares and Steemit. As you know, EOS is based on the DPoS (Delegated Proof of Ownership) consensus algorithm, in which community members delegate responsibility for verifying transactions to selected “witnesses.” EOS is a cryptocurrency platform based on blockchain technology and created for the versatile scaling of decentralized services. The network is capable of expanding to accommodate millions of transactions per second, eliminates the need to pay commissions and facilitates the rapid launch of any decentralized service.
Larimer argues that each of his projects solved a key problem preventing large-scale commercial use of blockchain. BitShares introduced the concept of horizontal scalability, allowing the transaction processing speed to increase to 100,000 per second. Steem sought to solve the problem of transaction costs by providing ways for users to interact with the application without incurring any fees.
EOS, in turn, is built on the ability to simultaneously execute smart contracts and process transactions (asynchronous proof-of-stake platform). EOS is not just another cryptocurrency, but a serious business platform embedded in the blockchain.
Where to look for new coins
You can always find out for yourself which coins have been recently released using the website coinmarketcap.com. Here you need to open the list “Trading” , and then select “Recently added” . The coins recently added to the site are displayed here:
PIVX (PIVX)
The PIVX cryptocurrency belongs to a new generation of cryptocurrencies based on the PoS algorithm. As has already been mentioned several times, this algorithm allows you to receive % on your account balance. However, PoS coins should have an optimal interest rate of around 5%, so as not to turn into a means of profiting from cryptocurrency holders.
Pivix, as Russian-speaking users call this cryptocurrency, originally appeared under a different name. For almost a year, the coin was called Darknet, until at the very beginning of 2017, as part of a rebranding, the name was changed to PIVX. The coin is a fork of the well-known DASH cryptocurrency; inserts from the BTC core code are also used. Unlike DASH, in which only masternode owners have voting rights, PIVX is led by a redistribution of powers between all participants who own coins.
Having seen the light under the name Darknet, the cryptocurrency soon attracted the attention of the crypto community. Over time, it became clear that for further qualitative development it was necessary to make changes to the concept of the project, including its ideology. A professional rebranding was required, which was carried out in a fairly short time. Piaiviex's main goal is to achieve near-instantaneous, confidential private transactions, which helps maintain the network for the benefit of all users involved.
OmiseGO (OMG)
OmiseGO is a publicly accessible financial technology based on Ethereum. In fact, an electronic wallet linked to a bank card, designed for transfers, purchases and payment for services. In practice, it looks like this: the buyer pays for a certain product or service using any currency he has (crypto or fiat), and the seller will receive funds in the units he needs. To do this, OmiseGO will have national currencies in reserve in its account.
Omise was founded in mid-2013. Location: Thailand. The direction of activity until mid-2022 is the provision of services for domestic and international transfers of fiat (national) currencies. Using the Omise service, you can also safely pay for goods and services in multi-currency mode.
The developers of the OmiseGO system are completely unknown in the world of cryptocurrencies, but have proven themselves to be successful in implementing projects in the field of national (fiat) currencies. The company has a high trust rating in the world of fiat money and today it already has serious loads and a considerable client base, which will make it easier to enter the cryptocurrency market. This significantly distinguishes the project from similar ones. The seriousness of OmiseGO’s intentions is confirmed by the involvement of many prominent developers of the cryptocurrency world as advisors and, to a certain extent, guarantors. First of all, this is the Ethereum development team - Vitalik Buterin, Gavin Wood, Vlad Zamfir, Martin Betse and others. Also in connection with OmiseGO there are names known from the Golem and Cosmos projects. Such serious information support indicates the trust of cryptocurrency business professionals, which allows us to make favorable forecasts.
Sumocoin
A confidential coin, a Japanese fork of Monero (Monero, XMR), which still lags behind the more experienced Dash (Digital Cash), ZEC (ZCash) and the same Monero. But at the end of last year, Sumokoin unexpectedly announced itself, increasing 15 times and thereby showing considerable potential. Today, the community is expressing concern about the plans of many governments to take control of the cryptocurrency market. When the anonymity of payment transactions is broken and all activities become the property of the relevant authorities, then the value of confidential currencies will increase hundreds of times.
Metaverse ETP (ETP)
Metaverse is quickly becoming China's Ethereum. Just like in China there is a search engine called Baidu instead of Google.
The network allows for the digitization of various types of assets and personal data, followed by the determination of their value in conditions of unprecedented security and confidentiality. Items that are available for transfer to virtual space include rare goods (works of art), products of intellectual labor, rights to profit from financial activities, and so on. Created digital assets can be backed by gold and instantly sent anywhere in the world via the ZenGold Metaverse blockchain app, and the ZenDao DApp can be used to verify and provide proof of ownership of real-world items. Metaverse blockchains make it easier to transfer personal data and assets between each other.
The Meta verse project is led by ViewFin.com, a Chinese company specializing in digital blockchain assets and blockchain news in China. The project was founded by Eric Gu, one of the leading figures in the Chinese blockchain industry. The goal of Meta verse is to create a new economic model. The public, open-source blockchain project revolves around the use of Entropy tokens (ETPs).
We consider this cryptocurrency to be very promising for investment in 2017-2018.
Ubiq (UBQ)
UBIQ is a decentralized platform that allows you to create and implement smart contracts and decentralized applications. Built on an improved Ethereum codebase, the Ubiq blockchain acts as a large, globally distributed ledger and supercomputer, allowing developers to create decentralized and automated solutions for thousands of tasks that are currently typically performed through intermediaries.
The use of currency occurs in a fairly simple way and without intermediaries. For example, a user wants to rent an apartment using a blockchain coin. To do this, he creates a smart contract, which includes a weekly payment (say 100 thousand UBIK coins). The operation is completed instantly, since everything is taken into account in the block chain. It will not be possible to make any changes or mark the transaction at all. This is extremely convenient, since the user avoids the risk of losing their home, and the landlord is guaranteed to receive his money.
One of the innovations of the Ubiq network is the Flux difficulty algorithm. The algorithm reacts to changes in the hashrate of each block by analyzing the timestamps of the previous two hours or blocks. By providing difficulty recalculation so that the block creation time is 80 seconds.
The team includes: Julian Yap, works with projects: Bittrex, Blocktech and Decred.
