Top Cryptocurrencies for 2018: What Are the Best Bitcoin Alternatives?
Important: this position should not be considered as an investment advice. The author focuses on the best currencies in terms of real use and adoption, not from a financial or investment perspective.
In 2017, cryptographic markets set the new standard for simple gains. Almost every piece or chip got incredible returns. "A rising tide throws all the boats", as they say, and the end of 2017 was a flood. The increase in prices has created a positive feedback loop, which is attracting more and more capital to Crypto. Unfortunately, but inevitably, this galloping market is leading to massive investment. Money has been thrown indiscriminately into all kinds of dubious projects, many of which will not bear fruit.
In the current bearish environment, hype and greed are replaced by critical evaluation and prudence. Especially for those who have lost money, marketing promises, endless shillings and charismatic oratories are no longer enough. Well, fundamental reasons to buy or hold a currency are Paramount once again.
Fundamental factors in the evaluation of a cryptocurrency-
There are some factors that tend to conquer the hype and the price of pumps, at least in the long term:
Although the technology of a Cryptocurrency or an ICO business plan may seem surprising without users, they are simply dead projects. It is often forgotten that widespread acceptance is an essential feature of money. In fact, it is estimated that more than 90% of the Bitcoin value is a function of the number of users.
While the acceptance of Fiat is entrusted by the State, the acceptance of cryptography is purely voluntary. Many factors influence the decision to accept a currency, but perhaps the most important consideration is the probability that others accept the currency.
Decentralization is essential for the I push model of a true cryptocurrency. Without decentralization, we have a little closer to a Ponzi scheme than a real cryptocurrency. Trust in individuals or institutions is the problem: a cryptocurrency tries to solve it.
If the dismantling of a currency or a central controller can change the transaction record, it is questioning its basic security. The same applies to parts with unverified code that have not been thoroughly tested over the years. The more you can count on the code to function as described, regardless of human influence, the greater the security of a currency.
Valid currencies strive to improve their technology, but not at the expense of security. Real technological progress is rare because it requires a lot of experience and wisdom. Although there are always new ideas that can be screwed in, if doing so puts vulnerabilities or criticisms of the original purpose of a coin, it ignores it.
Innovation can be a difficult factor to evaluate, especially for non-technical users. However, if a currency code is stagnant or does not receive updates that address important issues, it may be a sign that developers are weak about ideas or motivations.
The economic incentives inherent in a coin are easier to grasp for the average person. If a coin had a large pre-mine or an ICO (initial part offer), the team had a significant portion of chips, so it is quite obvious that the main motivation is profit. By buying what the team offers, you play your game and enrich it. Be sure to provide tangible and reliable value in return.
5 cryptocurrencies to buy in 2018
There has never been a better time to re-evaluate and balance a cryptographic portfolio. Based on its solid base, here are five pieces that I think are worth keeping or buying at their current depressed prices (which, as a warning, could go down).
# 1. Bitcoin (due to its decentralization)
The number one belongs to Bitcoin (BTC), which remains the market leader in all categories. Bitcoin has the highest price, the widest assumption, most of the security (due to the phenomenal energy consumption of Bitcoin mining), the most famous brand identity (the holders have tried to be appropriate) and most of the Active and rational development. It is also the only piece to date represented in traditional markets in the form of Bitcoin futures trading in American CME and CBOE.
Bitcoin is still the main engine; The performance of all other parts is highly correlated with the performance of Bitcoin. My personal expectation is that the gap between Bitcoin and most, if not all, other parts will expand.
Bitcoin has several promising innovations in the pipeline that will soon be installed as additional layers or soft forks. Examples are the Flash system (LN), the tree, the Schnorr signatures Mimblewimbleund much more.
In particular, we plan to open a new range of applications for Bitcoin, since it allows large-scale microtransactions and instant and secure payments. LN is increasingly stable as users test their different possibilities with real Bitcoin. As it becomes easier to use, it can be assumed that it greatly benefits from the adoption of Bitcoin.
# 2. Litecoin (due to its persistence)
Litecoin (LTC) is a Bitcoin clone with a different hash algorithm. Although Litecoin no longer has the Bitcoin anonymity technology, surprising reports have shown that the adoption of Litecoin in the dark markets is now the second, the only bitcoin. Although it is a currency that I have much more appropriate for the role of acquiring illegal goods and services, this may present itself as a result of Litecoin's longevity: it was launched at the end of 2011.
Another factor in favor of Litecoin is that It integrates Bitcoin SegWit technology, which means that Litecoin is ready for LN. Litecoin can benefit from an atomic string exchange. In other words, ensure the commercialization of coins as equals without the participation of third parties (that is, exchange). Since Litecoin keeps its code largely synchronized with Bitcoin, it is well positioned to benefit from Bitcoin's technical progress.
# 3. Ethereum (due to intelligent contracts)
Ethereum (ETH) has some major problems at this time. First, governments are attacking ICO, and rightly so: many have turned out to be fraudulent or bankrupt. Since most ico's run on the Ethereum network as an ERC 20 token, the ICO craze has brought great value to Ethereum in recent years. If the right standards are taken to protect investors, Ethereum project scams can claim some legitimacy as a crowdfunding platform.
The second major problem facing Ethereum is the delayed transition to a new hybrid work and battery detection system. The Ethereum mining GPU is currently profitable, but Bitmain has just announced Ethereum ASIC minor, which is likely to have an impact on the lower lines of the GPU miners. It remains to be seen if this will change the prisoner of war and how successful this change will be.
If Ethereum can survive, these two main problems – regulation and mining – will have shown a great capacity for recovery. Otherwise, there are several competing currencies that track their shadows, such as Ethereum Classic (etc.), Cardano (ADA) and EOS.
# 4. Monero (due to its anonymity)
Although its adoption in the dark markets is not all that could be expected, I (XMR) remains the Prime Minister's privacy. Their reputation and market capitalization are still above their rivals, and for good reason.
Monero's code requires less confidence than the "loyal" Zcash key ceremony, and had a fair start, unlike Dash. That Monero recently changed his Pow to beat the development of a small ASIC for his algorithm confirms the commitment of the mining decentralization. A significant drop in the hash rate is due to the new version, which is constantly reported against ASIC. This could also be an opportunity for GPUs and even smaller CPUs to respond to me. The new version of Monero, 0.12, also includes other improvements that show that Monero continues to grow along sensitive lines.
# 5. iPRONTO (A decentralized incubation platform)
iPRONTO is an incubation platform of the Ethereum chain dedicated to investors looking for a secure and reliable platform to invest in new ideas and future innovators that can present their ideas and receive opinions from users. Experts in the field in the practice and implementation of derived ideas.
The ideas of the innovators are compatible since the NES in Smart Contract format will be signed between the expert platform and the client if the client's business idea for the Committee for the examination and registration in the platform. The idea will not be published for all users on the public platform of the chain, but only for selected members of the target community who are willing to sign the Smart contract to maintain the confidentiality of the idea.