5 must have altcoins for 2018

5 must have altcoins for 2018

Altcoin Blockchain Cryptocurrency
February 22, 2018 by IBC Staff
436
5 must have Altcoins for 2018

After losing ground over the holiday season, cryptocurrencies are on the up again. This year the best action will be found in coins which offer real utility. Even if you missed out on the 2017 Bitcoin bull market, here are some coins which promise great returns in the year ahead:

NEM

What is the Coin?

NEM calls itself a better way to implement an enterprise-grade blockchain data system that minimizes complexity and implements seamlessly with existing systems. NEM’s smart assets blockchain is configurable to handle almost anything, from currencies to supply chains to notary services. NEM was recently the target of a high-profile cryptocurrency hack, where criminals lifted nearly $700m of coins (XEM) from Japanese Coincheck.

What’s cool about it?

NEM is API-driven, so any application is compatible; from mobile apps to mission-critical business infrastructure. NEM claims to have carried out tests across millions of accounts. Its XEM coin rose from less than $0.01 at the start of 2017, to a high of $1.87 at the start of this year. The current circulation supply of XEM totals 9 billion coins, which is 23% of the number of Ripple (XRP) and just under half the amount of Stellar (XLM). This means that XEM supply is relatively low compared to two of the most famous altcoins, so if demand grows NEM can enjoy exponential growth.

DMarket

What is the coin?

DMarket is a decentralized marketplace for turning every virtual item into a real asset. Its founder and CEO is Volodymyr Panchenko, who is the biggest private seller of games in the world. Gamers collect virtual items such as armour, cars and crystals in the course of their hobby. With DMarket, these items are no longer locked in the silo of one particular game but can be traded with the platform’s DMarket Coin (DMC).

What’s cool about it?

More than 2 billion people now play games. By many metrics, gaming is now a bigger industry than movies, making $100bn in 2016. At its core, DMarket is a perfect example of the value of the blockchain as a distributed ledger – a technologically elegant solution for perfectly tracking ownership and trades of gaming assets with the possibility to make real money. Think of it as the grown-up version of trading football stickers in the schoolyard. By the way, to date DMarket is the first and only blockchain-based project in gaming that has signed up some of the top AAA game dev companies as partners willing to join the marketplace with their games after the full-fledged launch.

0X

What is the coin?

The 0X (think “zero x” rather than the bovine singular of oxen) project is creating a decentralized cryptocurrency exchange for ERC20 tokens on top of the Ethereum blockchain. It seeks to tackle security issues linked to the centralization of current exchanges which makes them vulnerable to the attacks we have seen in recent months. With 0x protocol, orders are transported off-chain, reducing gas costs and eliminating blockchain bloat. Relayers help broadcast orders and collect a fee each time they facilitate a trade. Anyone can build a relayer and the project already boasts an impressive list of partners.

What’s cool about it?

Attacks on high-profile centralized exchanges have put cybersecurity issues at the forefront of investors’ attention.  The ZRX coin has strengths such as being trustless and therefore there is no counterparty risk. ZRX also allows for high levels of liquidity so there can be limitless exchanges built upon the protocol. These attributes have fuelled rumors that ZRX will be added to Coinbase. While Coinbase says it has no plans to add any new assets, ZRX meets all the key criteria for such a listing.

Salt Lending

What is the coin?

Salt (“Secured Automated Lending Technology”) allows crypto investors to hold onto their Bitcoin while having fiat currency to spend at the same time. This is done by SALT holding users’ crypto assets in exchange for issuing a loan in fiat currency. So long as the loan is paid back, this crypto collateral is returned to the user. In the past, the difficulty and costs of transferring and storing assets required lenders to focus on the creditworthiness of borrowers as well as conservative estimates of the value of the borrower’s assets. This inefficiency results in limited accessibility to cash and high interest rates for borrowers.

What’s cool about it?

SALT allows the value of a borrower’s assets to be fully recognized and credit history thus becomes made irrelevant.  The project is developing rapidly and in the coming months plans to launch a credit card. SALT tokens give users membership access to the platform, which could develop into the primary tool for people who are “crypto rich but cash poor”. SALT claims that they do not lend out your collateral and even if SALT were to go out of business customers’ collateral would still be safe and accessible. SALT could also help to bring lenders into the crypto world by providing the infrastructure, compliance, and security they need to accept crypto collateral.

Civic

What is the coin?

Civic is an identity management service that allows you to protect and authorize the use of your identity in real time. Civic also offers additional features to protect your identity such as credit report alerting, identity fraud coverage and access to 24/7 fraud support. Identity is verified using decentralised architecture and biometrics. Each time you use your Civic identity this is independently validated on the blockchain.

What’s cool about it?

Civic doesn’t require a 3rd party authenticator, physical token, username or password. Information sits on your devices so nobody can use your information without your express consent. Civic last year partnered with giant consumer credit reporting agency TransUnion. With identity fraud increasingly being recognised as a major expense for individuals and businesses, the companies which successfully deploy blockchain to solve these issues are set to profit handsomely.

This article is written by a guest author and this is not investment advice. The opinions of the author, though well educated and researched, do not necessarily represent itsblockchain.com’s views. 

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