Bubbles happen. The cryptocurrency market went through an undeniable hype cycle.The moment that the statement “Hey, we can all mint our own currency!” was uttered, you knew that this was all going to end badly. Bitcoin, the Ur crypto-currency, went all the way up to within spitting distance of $20,000, and then crashed back to $6,300. Not surprisingly, a lot of people lost a lot of money. Yet since then, Bitcoin has managed to rise 33%, fluctuating around $8000 a coin.
Two things have happened since the Bitcoin crash in 2017. The first is that blockchain went through a trial by fire, and in the process it spurred a lot of people at all levels to think about hard about trust-chains in general.
The second thing is that it has given time for governments and banks to start coming to grips with the implications of ICOs for the stability of the economic system, and to start shaping up some form of regulatory framework around them to make sure that future instability is not quite so extreme. Had the broader economy crashed the same way Bitcoin did, we would be in a worse recession than the one that hit in 1929.
Cryptocurrency companies today have emerged from the carnage of 2017, using the lessons learned to create a more stable, secure and safe framework. These companies are also taking advantage of recent advances in machine language and AI to start using the core trust-chain technologies to support platforms that will make crypto-currencies more acceptable moving forward. Among them are a number of significant new players:
Online.io is a blockchain technology company with a pretty smart angle. They knew that the internet is something that human beings would never be willing to give up and they knew that the biggest fear is that of privacy. Someone said and I quote, “privacy is the biggest currency.” Now if we take a look there are many internet businesses out there already making money by securing privacy. The biggest example would be a VPN – we know that they cash fear and they sell privacy. Online is offering a spying free internet and asking people to try their unique algorithm: Proof of Online.
Rise is a company that is not into AI, machine learning and blockchain for only selling its coins, but for making investments safer with these technologies. This is a Fintech venture skyrocketing because of offering a professional product that allows the businesses and investors to manage capital sanely and make only safe investments. Stats is only the least of all things on the back of this business and it will be interesting to see how they progress in 2020.
Skycoin is a company offering its mining setups as well as its unique algorithm. For those crypto enthusiasts, who know what blockchain can make possible, but still dream to own a traditional crypto business with its own mining technology and own coin offering, Skycoin is the company to follow in 2020.
Skycoin is also selling what Online sells – an internet, a network, safe, decentralized and not controlled by countries or corporations. People can buy their miners from their website or get indulged in their unique consensus algorithm: Obelisk.
8Pay is close to the fin-tech venture Rise. However, 8Pay is not about making investments easy, but a simpler task. People with Cryptocurrency in wallets have seen everything that could happen to an internet currency, including the hackers hacking the entire exchanges to steal people’s sweat and blood. This company makes it sure that you pay for whatever you want to pay, from your cryptocurrency and that too with a push of a button. The admissible currencies are Ethereum and all other ERC20 currencies.
It is tough to pay attention to one particular venture, while there are so many new blockchain ventures are initiated every year, but it is a matter of fact that these 5 have some serious chance to growth – and time will tell.
Forex.Academy is a free educational website, offering valuable information to those who are interested in Forex and Crypto trading. Francisco Salgado, He is the Managing Director of Forex.Academy says, “our mission is to be the most comprehensive online resource on currencies, cryptocurrencies, commodities, metals, and indices.”
Bithumb Global is a new crypto exchange that has recently spun out from Bithumb Korea, Korea’s largest digital asset exchange. Within less than a year, Bithumb Global has become one of the most popular and trusted crypto exchanges in the blockchain industry. With their new BG Staging initative, Bithumb Global has become very popular for blockchain projects to debut as the BG Staging differs from the IEO with real sustainable audiences and large liquidity pools. Bithumb Global has also recently announced their brand new Bithumb Chain, a new open trading protocol that provides Bithumb’s chain infrastructure and resources to the rest of the development and crypto community.
Bybit is the fastest growing cryptocurrency derivatives trading platform debuting mid-2018. With over 150,000 users worldwide, users have been attracted due to their state of the art matching engine with over 100,000 TPS per contract. Currently users can select from a variety of trading pairs including BTC/USD, ETH/USD, XRP/USD and EOS/USD perpetual contracts with 100x leverage.
With the founding team hailing from Forex, investment banking and blockchain along with their development team with backgrounds from Morgan Stanley, Tencent, Ping’an Bank and Nuoya Fortune, Bybit is defintely one of the must watch blockchain companies in 2020. Recently, Bybit has introduced the “Coin Swap”, “Drag and Drop Order Adjustment” and ” Flexible Stop-Loss and Take-Profit orders” features.
These features are a big step in transparency for users and greatly reduce the risk of malicious traders attempting to engage in market manipulation on Bybit. Bybit is also launching a new mobile app on both iOS and Android to allow more convenience for traders on-the-go and will continually offer the most advanced derivative trading platform with all the bells and whistles.
Cryptocurrencies are still very speculative, and as recent scrutiny by Congress over Facebook and its plan to launch its own cryptocurrency platform have shown, it may still end up taking years before the smoke clears and people have a better idea about how this industry will shake out, but there are signs that we’re moving past the Wild West days of crypto. Companies such as these may very well be the leading edge of this shift.