With the advancement of the technology front, blockchain and various cryptocurrencies are gaining huge popularity. Despite witnessing the bearish trend in 2018, the concepts behind a few strong market players in cryptocurrency are so impactful that they keep soaring in popularity.
Decentralization is innovatively used to bring around an unregulated environment that is private, anonymous, and secure enough. The top cryptocurrencies of 2018 predominantly are:
- Bitcoin (BTC)
Popularly known as the gold-bearer of cryptocurrencies, development of Bitcoin was a historic event and it garners the first mover’s advantage. Owing to the increasing global financial crises, the Bitcoin value has been increasing strikingly. Starting from a value of $1, the Bitcoin prices have soared to $15K in 2017. The Bitcoin ecosystem is very strong and is evolving continuously. With the latest addition of Bitcoin Lightning Network that allows iApps development for more mainstream usages, Bitcoin is making it use-case-based as well as a store of value currency.
NEO is among the fastest growing platform and within the next two years we will see a heavy market demand for the NEO platform. NEO’s Trinity – a layer-2 scaling solution is under development where more ICO’s will add to the value of the root blockchain. Additionally, NEO is on good terms with Chinese regulatory bodies, making it stand out even stronger.
EOS focuses on offering decentralized web solutions to its users, wherein a social media channel or an app like Uber can be built on its platform. EOS comes across as a high-performance blockchain that can entertain enterprise-level volumes. It utilizes consensus algorithm as a Proof of Stake, making it a green and sustainable project. EOS is quite close to how Ethereum works, which makes the transition from Ethereum to EOS easy and quick.
- Ethereum (ETH)
Primarily known as the silver body of the crypto market, Ethereum is losing its shine to emerging blockchains that are built with high-performance and lightning fast productivity. However, the Ethereum developer’s community is working continuously in an expedited manner to offer a platform that is ready to support DApps development. At present, EOS is posing to be a big competitor for Ethereum.
- Litecoin (LTC)
Litecoin is built upon Bitcoin, thus any advancement in the bitcoin space is automatically followed by the Litecoin blockchain. Litecoin has a massively growing community support as it acts as a load sharing blockchain for Bitcoins. Hence, whenever the gates open for Bitcoin, Litecoin follows suit.
Bitcoin and Litecoin are all set to take over the cryptocurrency market as the atomic swap of Lightning networks are set to make them superiorly versatile. With more enterprises adopting and supporting cryptocurrencies, we may witness these five cryptocurrencies maintain a predominance in its business adaption too. While NEO and EOS are targeting to overtake ETH, we may witness a drop in ETH ranking as it will lose a big amount of market share to these two rapidly growing cryptocurrencies if it does not scale up its processing speed for DApps.
The future is highly unpredictable as no one knows what innovation can a new blockchain bring-forward or when one can soar up in popularity. But according to latest reports, the above-listed currencies are stated to maintain their stand as the leading players in the market.
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