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ERC20 Tokens to Look Out for in 2018: EOS, TRX, VEN, IOST and BTM

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ERC20
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ERC20 tokens are instances of smart contracts that operate on the Ethereum blockchain. The abbreviation of Ethereum Request for Comments is ERC and 20 is the unique proposal ID number. The term ERC20 actually defines the rules that Ethereum tokens have to follow, that is, it helps the developers to understand how the new tokens will fare in the larger Ethereum system. As all the ERC20 tokens have to follow a set of rules, the developers do not need to redo their project once a new token is released. In fact, these tokens are designed to accommodate the newly released tokens.

The ERC20 specifies six different functions that include the process by which the tokens are transferred and the way the users can access information regarding a particular token. ERC20 also gives two dissimilar signals to a token and they do not match the signals of other tokens. One advantage is that the wallets that support ETH will also support the ERC20 compatible tokens. The ERC20 tokens like any cryptocurrency can be sent and received and have real value. The difference is that these tokens are hosted by Ethereum addresses and the transactions are done with the help of Ethereum transactions. Therefore, the receiving address for the ERC20 assets is the same as the Ethereum address.

ERC20 Tokens one should hold onto in 2018

  • EOS (EOS)

The developers of EOS are focused on making the ERC20 token more accessible to the traders. The introduction of Dawn 3.0 to solve scalability issues and inter-blockchain communication will make the coin more and more popular among the investors. With inter-blockchain communication now the users do not have to go through the whole block when processing transactions. EOS getting listed on ZebPay and the partnership with WAX (Worldwide Asset Exchange) are interesting developments that have helped EOS to progress on the green line. The recent adventures of EOS have successfully raised the rank of EOS on coinmarketcap.com to the 5th position. At the time of writing, the price of EOS is $14.23 USD (4.53%) and the market cap has crossed $11 billion USD. (As of 25th April 2018. It seems that EOS is on a bullish run in the second quarter of this year.

  • Tron (TRX)

Tron has gained immense popularity among the investors with its partnerships, collaborations, and eagerness to find a solution to internet censorship, and security issues in the entertainment ecosystem. The Tron network eliminates the intermediaries by allowing the users to have the fundamental ownership of data and content related to the entertainment industry. Also, Tron is going to launch its own Mainnet and will stop being an ERC20 token. According to the founder of Tron, Justin Sun, the Tron network will focus on solving the challenges faced by the Ethereum blockchain. Other factors for holding onto Tron (TRX) include its partnership with the gaming giant BitGuild and its well-planned out Roadmap. At the time of writing, according to coinmarketcap.com, the market cap is over $4 billion USD and the price is approximately $0.06 USD (4.25%).

  • VeChain (VEN)

The upcoming launch of VeChain’s own Mainnet and its partnership with AssetLink and Shanghai eGrid Consulting Co. LTD are most likely to draw the attention of the traders/investors. The decision made by the VeChain team to award the users the rights to own Authority Masternodes will also attract investors. VeChainThor, the full node that is supported by Authority Masternodes will generate blocks and will provide an extra layer of security to the produced blocks. According to coinmarketcap.com, VeChain stands at the 16th position and its market cap shows approximately $1,989,248,563 USD. (As of 25th April 2018)

  • IOStoken (IOST)

The developers of IOStoken introduced proof-of-believability that is considered to save more energy than the proof-of-work or proof-of-stake algorithm. The aim of the project is to develop on the scalability front and take blockchain technology to the mass. ‘Hyper Universe Distributed Systems’ and ‘Efficient Distributed Sharding’ along with proof-of-believability enhance the process of online hosting of services. Another unique feature of IOStoken that captures the investors’ attention is the concept of ‘Servi’ that can determine how much a user contributed. The ‘Servi’ tokens are non-tradable, self-destructive and self-issued. IOStoken has already been listed on popular cryptocurrency exchanges like Binance and Bitfinex. Currently, according to coinmarketcap.com, this ERC20 token is ranked at 56 and the market cap is approximately $397,422,480 USD. (As of 25th April 2018)

  • Bytom (BTM)

Bytom was developed with the objective of making atomic assets, dividends and bonds registered and exchangeable through a contract supported operation. Bytom offers the users to separate their transaction signature from the rest of the data to make the process more secure. Bytom’s contribution in China includes cross-chain asset distribution, developing proof of work consensus mechanism that differs from that of Bitcoin, and providing solutions like high-speed algorithm to reduce wastage of resources. The proof of work of Bytom will allow AI to enhance the mining process of Bytom. According to coinmarketcap.com, the market cap of Bytom is approximately $902,870,094 USD and ranks 29. (As of 25th April 2018)

All the above-mentioned ERC20 tokens are considered to have a bright future due to their well-written whitepaper and unique features. At the moment, when most of the cryptocurrencies are struggling to remain green after the drop in the first quarter of 2018, it is best to buy these tokens with a promising future and holding onto them. Trading them in future will probably see higher returns.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Damian Morys via Flickr

Altcoins

HODLing Stellar Is A Good Plan For 2019

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HODLing
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HODLing, or holding on to a certain asset or assets has always been an extremely useful investment strategy, even before cryptocurrencies were even imagined. Now, with the market being more uncertain than ever, many are wondering what is the right thing to do with the coins in their possession.

Of course, things change depending on the coin in question, but today, we are going to talk about why it is a good idea to hold on to your Stellar (XLM) in 2019.

Why You Should Hodl Stellar (XLM)

The crypto market is rich with hundreds, and even thousands of different projects at this point, and separating valuable ones from those that are destined to slowly fade away can be tricky. However, even the biggest skeptics believe that Stellar is a coin that is here to stay.

XLM was first launched in 2014, and for a long time now, it has been among the top 10 cryptos by market cap. It is an open-source, decentralized protocol that allows users to send fiat currencies by using cryptocurrency as a method of transport. In a lot of ways, it is very similar to XRP. However, the biggest difference is that Stellar aims to offer its services to regular people, while XRP is more interested in working with banks and financial institutions.

Nevertheless, sending money, especially when it comes to cross-border…

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Altcoins

Reasons To Invest In Electroneum In 2019

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Electroneum
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2018 has been quite a rollercoaster for the crypto space. Coins went up and down more times than anyone could have guessed, not to mention two massive market crashes. However, in a few short weeks, the year will be over, and a new, positive period for the crypto world is expected to arrive.

While there are many predictions for 2019, today we are only interested in one thing — Electroneum (ETN). A lot of people quickly took notice of this coin, and many believe that it is among the coins of the future. Indeed, it has received a lot of attention, and many are interested in why that is, and why investing in it is a good idea. So, let’s take a look at a few reasons why you should invest in ETN in 2019.

1) It is fast

Speed and precision of any service have always been very important to people. This importance is even greater when making a profit depends on it. Electroneum developers were aware of this when they created it, and the coin is up to 5 times faster than Bitcoin. This means that ETN transactions can be confirmed much faster, which in turn reduces fees and waiting time.

Furthermore, there are also plans to create Electroneum Virtual Currency Exchange, which will allow the project to act as an exchange. However, the even…

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Bitcoin

SEC Postpones Bitcoin ETF Decision Once Again

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Bitcoin ETF
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The new announcement by the US SEC (Securities and Exchange Commission) states that the decision regarding the potential approval of several applications for a Bitcoin ETF (exchange-traded funds) is once again postponed. This time, the SEC declared that the decision will be made by February 27th, 2019.

The application requesting that VanExk SolidX BTC fund get s listed on Cboe BZx Exchange that was published on July 2nd needs to be given order by the commission within 180 days. Originally, the deadline for doing so was December 29th. However, the SEC decided to extend the period for another 60 days, effectively moving it to February 27th.

The SEC stated that designating a longer period for making a decision was found appropriate, as more time is needed in order to properly consider the rule change.

Cryptocurrencies need a sufficient monitoring mechanism, claims SEC chairman

Recent reports claim that the SEC received over 1,600 comments after requesting the public opinion regarding the ETF applications issue. In the past, the SEC rejected many such applications, some of which were even submitted by SolidX itself. In addition, they also rejected the applications submitted by Gemini, the exchange owned by Winklevoss twins. Brothers were attempting to gain ETF approval ever since 2013, although to no avail.

Other applications were also submitted by Direxion, ProShares, as well as GraniteShares. The SEC rejected them…

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