2018 has somewhat been a great year for the aspects of blockchain technology. With increased awareness and preferences, cryptocurrencies demand and undertaking is now more than ever. While prices and concepts are taking their humble time to get into balance and cater to the public, the development of this technology has been remarkable. Finally being accepted with open arms, having acquired the correct and intimate knowledge about the same, it’s safe to say that the people are finally ready for it, completely and whole heatedly. The bars are high, the wild race has just picked up it’s pace. Here’s what the coming year holds for the top 5 cryptocurrencies, unfiltered and unimaginable.
1. Bitcoin: We just had to begin with bitcoin, one that has been setting itself up for all the new dawns to come and its here to stay. One of the primary reasons this technological advancement will set us all into the bull market is the rising speed and scalability of transactions. More so, with the increasing number of institutional investors dishing on their approval of it, it’s only time before it takes over this year. A stronger edge to the competition, going for the throne, the seven second transaction will lead to a lot of new aspects and changes including increased transaction fees and introducing a lightning network, which allows the former to take place outside the main blockchain. Having an impact on institutions, many of them, mostly financial, are also trying to stand their course and introduce new products into the market. Bitcoin really has its year coming up.
2. Ripple (XRP): With not much of a plan or information available to the public eye, we need to dig deep and understand what XRP has planned for the New Year. Much like most alt coins, it’s working, for most it is unknown, it’s on us to try to understand what they’re aiming for. Bringing numbers on the table, the speed and scalability of ripple is quite impressive I.e 1500 transactions per second, thus, leading the group. Much like the alpha of the pack, its focus being in reason liquidity and somewhat reducing the fees, with collaborations with other institutions and gaining a global platform, it’s gateway is opening up to various new aspects and leading the path. Establishing significant partnerships will eventually help it gain it’s international business through an asset able to handle global volume. Hoping to see incentivized partners in the coming year, ripple will most likely be rising even higher through power and strategy.
3. Ethereum (ETH): Introduced in 2014, a great piece in the game has a bright future in 2019. Being the first to enable smart contracts and daps to be built, 94 of the 100 coins have been built here. However with progressing times and new players, the issues of scalability have been increasing. An update requiring a hard fork, namely Constantinople, has been scheduled as of January 2019, having the backing and unwavering confidence of the creator, Vitalik Buterin. Followed by casper protocol and sharing, in the latter half of the 2019. Creation of an entirely new chain, an update called Serenity, is a multi update plan to raise it to the top. Ethereum has big plans for this year; let’s hope they reach the summit they wish to.
4. Bitcoin Cash (BCH): Standing strong at the fourth position despite the boiling wars and harsh competition, bitcoin cash has come up with a perfectly organized website providing a roadmap and a set of goals for 2019, divided into 3 sections, namely scaling, usability and extensibility. While their product is great, it’s not perfect, which the team is aware of. Hoeveel their primary goal still stands to be that it should be usable for everyone throughout the world. Their major goals include reducing transaction time to 3 seconds each and have a protocol in place to make implementation of future elements and upgrades easier. A new upgrade, called the Coin shuffle, following May’19 is also about to enter the picture. A happening and eventful year awaits Bitcoin cash, let’s see how they do.
5. Stellar (XLM): With constant storms hitting new technology in the form of rising businesses and harsh competition, it’s important to have a survival kit ready and in this case, having a string foundation. That is to make developmental changes and bear consequences of partnerships and products, that are subject to change as and when. While we might not have a steady plan or map from their side, we do know based on their 2018 accomplishments, they have something huge in store for us. Being similar to Ripple in a few aspects, majorly as both of them venture into partnerships and collaborations with major companies and corporations, we hope and believe there’s a lot to it that we don’t yet know and we certainly can’t wait!
The market is quite the chaotic and happening place right now, technological advancements paving the way for spinning the wheel of progress towards a brighter horizon. These major seven cryptocurrencies have an important and crucial time coming up, with storms only a few will survive and come out of, even stronger. Let the year and the games begin!