While some cryptocurrencies were soaring in 2018, many others have not had the same story to tell.
Bitcoin Diamond (BCD)
Bitcoin Diamond was forked off from Bitcoin blockchain on 24th November 2017. The Bitcoin Diamond sets to solve problems such as lack of privacy, slow transaction confirmations, and a high threshold for new members. The pseudonym names of the Bitcoin Diamond are Team Evey and Team 007. BCD was selling for as high as USD 109, but the story seems to have changed in 2018, as the price has plummeted to USD 2.56 and its fall is mainly due to Bitcoin’s dip.
Bitcoin Gold (BGD)
Bitcoin Gold is a digital currency and a hard fork of Bitcoin. The hard fork occurred on October 24th, 2017. Bitcoin Gold once traded at USD 500 but as at 2018, it is well in the red at USD 52.14. Bitcoin Gold was created to “return to the decentralized nature” of the BTC, and give ordinary users an opportunity to mine the new digital currency.
The cryptocurrency, Qtum, is a hybrid of Ethereum and Bitcoin. While Ethereum is primarily a smart contract platform, Bitcoin was designed to be a value transfer tool, and Qtum is a bridge between these two. Qtum was launched in March 2017, with a crowdfunding campaign that lasted 30 days. It sold over USD 10 million worth of its token in the first 90 minutes, raising a total value of USD 15.7 million and stopped the campaign after five days.
Released in 2012, Ripple is a technology that acts as a cryptocurrency and digital payment network for financial transactions. The digital currency, XRP, acts as a bridge to other currencies, as it does not discriminate between one crypto and another. This makes it easy for any currency to be exchanged for one another. In 2017, Ripple was one of the best performing digital assets, but they are not having it easy in 2018, as the price has nosedived, despite the hype in 2017 and the announcements of new partnerships and projects.
Bitcoin Cash (BCH)
Bitcoin Cash developers aims to “increase confidence in cryptocurrency”, as Bitcoin was criticized for slow transaction times, high mining fees and high energy consumption, factors that BCH’s supporters feel it combats. The fork from Bitcoin occurred on August 1, 2017.
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