Cryptocurrencies are picking up steam, becoming extremely popular and heavily traded markets. Being aware of this, we are adding new crypto-against-crypto pairs featuring the 11 crypto coins below. Explore them before trading!
EOS is a blockchain-based platform designed to enable the development, hosting, and execution of decentralised applications (dApps). Initially, the project was launched by Dan Larimer, creator of Bitshares and co-founder of Steem. Currently, EOS is owned by block.one, a Cayman-based organisation with offices in Hong Kong and the USA.
The people behind EOS haven’t offered any definition of the abbreviation.
The EOS ecosystem is made up of two key elements: EOS.IO, a blockchain-based architecture capable of supporting thousands of dApps, and EOS tokens, the cryptocurrency within the network compatible with ERC20.
This is a decentralised platform that enables the sharing content for the digital entertainment industry in a cost effective manner. The system helps eliminate the middleman in distributing the entertainment content from the creator to the consumer.
Tron was established in September 2017 by the Tron Foundation – a non-profit organisation based in Singapore. The company’s key figure is Justin Sun, founder and CEO of Tron.
The Tron crypto coin is called Tronix (TRX), an ERC20 token based on the Ethereum blockchain.
Launched by a Singapore-based organisation the ‘Quantum Foundation’, the Qtum project aims to be the ‘bridge between the Bitcoin and Ethereum communities.’ In other words, it combines advantages of the two within one system – the UTXO model (Bitcoin) and the Ethereum Virtual Machine (EVM).
Overall, Qtum is designed to facilitate the use of smart contracts for inter-business operations, making them more secure thanks to bitcoin’s transactions.
The tokens within the ecosystem have the same name – Qtum.
Cardano is a fully open source crypto project and a decentralised blockchain, launched by ‘Input Output Hong Kong’ in September 2017.
What distinguishes the Cardano platform is that it includes two layers. The Cardano Settlement Layer (CSL) supports blockchain transactions that use ADA tokens – the cryptocurrency within Cardano’s environment. The Cardano Computation Layer (CCL) is designed to power the use of smart contracts and to run dApps.
NEO is another decentralised and open-source platform inspired by Ethereum. Commonly referred to as the ‘Chinese Ethereum’, NEO was the first blockchain to be released in China.
The founders Da Hongfei and Erik Zhan launched the project in 2014 as AntShares, which was rebranded itself into NEO on 22 June 2017. At its core, NEO is a blockchain-powered platform which enables the development of digital assets and smart contracts.
The ecosystem operates two tokens – NEO, the 100% pre-mined investment token, and GAS, an operational token, a fuel that powers smart contracts running on the blockchain.
Stellar was introduced in 2014 by Kim Joyce and Jed McCaleb, co-creator of Ripple. In fact, Stellar was originally built on the Ripple protocol and model, which can explain why the two have a lot of common features.
Just like Ripple, Stellar enables the exchanges between fiat and cryptocurrencies, as well as trims the cost and increases the speed needed for cross-border transfers.
The Stellar cryptocurrency is called the lumen (XLM), which is traded on a number of exchanges.
NEM appeared as a fork-out version of another blockchain platform – NXT – in March 2015. It is managed by NEM.io Foundation – a non-profit organisation based in Singapore. The NEM platform tags itself as a Smart Asset System, meaning that it provides an efficient and cost-effective way to manage assets and data.
The NEM’s major innovation is that unlike other blockchains, it uses the Proof of Importance (POI) consensus algorithm, which takes into account the participant’s overall support of the network and assigns ‘importance’ scores. The higher the score, the more a participant is likely to be chosen to add, or ‘harvest’ a block.
The NEM cryptocurrency used to pay for transactions is called XEM.
8. Ethereum Classic
Ethereum Classic emerged after the DAO hack attack in June 2016. This resulted in an ideological split of the original Ethereum into Ethereum and Ethereum Classic. Both are focused on smart contracts and decentralised application development.
Ethereum Classic functions on the same protocol as that of Ethereum.
The Ethereum Classic coin is called ‘Classic ether.’
9. Bitcoin Gold
Bitcoin Gold is a decentralised platform that emerged on 24 October 2017 as a hard fork of the Bitcoin blockchain. The hard fork happened on block 491,407.
The developers of Bitcoin Gold aimed to make Bitcoin mining more decentralised and available to miners. With this purpose, they proposed switching from the SHA-256 hashing algorithm to Equihash.
The Bitcoin Gold coin is traded on various exchanges under the currency symbol BTG.
Originally known as ProtoShares (PTS), BitShares was founded by Daniel Larimer, co-founder of EOS and Steemit, in July 2014. This is a decentralised and anonymous blockchain-based crypto exchange, which allows for the conversion cryptocurrencies into stable assets, or BitAssets, pegged to real-life markets.
The BitShares exchange operates the BTS token as a collateral for smart contracts, exchanges, and derivatives.
This native digital currency is used to power Steemit – a content-driven platform built on a blockchain. The network has a social media structure which enables users to create, vote on, and curate content. The most active contributors are rewarded the Steem tokens for their work by community voting.
The content-driven blogging platform was launched by Dan Larimer, founder of BitShares and EOS, in March 2016.
In addition to the tradable Steem token, the network runs another two – Steem dollars and Steem power.