Crypto 2019: Experts Predict Adoption But Also Losses

Investors will have more realistic expectations.

 

2018 was a thin harvest, but leaders of the crypto space are forecasting a bumper year in 2019. Leading executives at several blockchain startups expect adoption replacing speculation in the coming year, with regulatory clarity bringing in institutional players to create a stable market.  That said, some cautioned that the good harvest would only come after a harsh winter.

Xinshu Dong, CEO of Zilliqa, a Singapore-based blockchain platform, expects cryptocurrencies to find use in a diverse range of use cases. There will also be the opportunity to find solutions for operational pain-points, such as scalability, he says.

We will see a wave of widespread use cases in 2019 as organizations looking to implement and develop blockchain applications become more focused,” Dong told Crypto Briefing via email. “[It] may indeed be the year we address the existing challenges, see traction for the technology beyond the testnet phase, and welcome many far-reaching dApps.”

“So it is very likely that we will see some compelling use cases emerge,” he added.

Institutional adoption

Predictions at the start of 2018 had been particularly bullish. In a period of intense market euphoria, analysts were quick to forecast a trillion-dollar crypto market; Tom Lee from Fundstradt even predicted that Bitcoin (BTC) could trade for $25,000.

Needless to say, that didn’t happen, and a series of slides took the market down by approximately 84%, at the time of writing.

But price may not count for as much next year. “2018 has been a rollercoaster of a year for blockchain and crypto, with the focus being very much on market movements and the need for increased regulation in the space,” said Gabriele Giancola, CEO and Co-founder of qiibee, a blockchain-based loyalty project. “Moving into 2019, and further down the line, I believe we will begin to see a separation between hype and reality.”

Many see 2019 as the year institutional players make their move. Max Kordek, co-founder and CEO of Lisk (LSK), a blockchain platform, said that technological progress will mean blockchain can be slowly accepted by big business and governments. He believed that increasing adoption will lead to a change in views;  cryptocurrency will be treated less like a pariah and more as an alternative asset.

This was reflected by Craig Mc Gregor, CEO of the DSTOQ exchange, who argued cryptocurrency could become an ideal independent store of value. With greater regulatory clarity and a mature market, institutional investors could see cryptocurrencies as an ideal investment opportunity.

“Investors are looking for alternative opportunities to make profits and need alternative asset classes. This is why, the new asset class and technology is an attractive opportunity,” Mc Gregor said. “We see many big projects form some of the biggest players in the pipeline and expect 2019 to be a major year for cryptocurrencies as well as blockchain in general.”

Crypto 2019: It’s not all positive

Many figures see cryptocurrencies moving from the generalized function of ‘one coin to rule them all’, to a more industry-specific utility. Roger Lim, head of NEO Global Capital, said sophisticated projects will begin to target specific industries. But he also said there would likely be a cull: “With competitiveness rising, the blockchain industry is bound to undergo some sort of consolidation and the projects best equipped with a “survival of the fittest” mentality are the most likely to succeed,” he said.

Lim was not alone in emphasizing that the coming year will be mostly uphill. “Contrary to popular opinion, 2019 will not be about exciting new ways to use blockchains,” said Decred co-founder Jake Yocom-Piatt. “It will be about which cryptocurrencies get the fundamentals right, organize their collective intelligence, and can endure the gyrations induced by ignorant prospecting. Just like during the dot com bubble, endurance matters.”

Some businesses are already suffering from the extended bear market; Binance halved its profit forecasts to $500m. As Crypto Briefing extensively reported, ETCDev – the core developer for Ethereum Classic (ETC) – ceased operations last week by keeping all its assets in virtual currencies.

2018 was a transformative year for cryptocurrencies. Expectations have been lowered but long term, this will be beneficial. The sector doesn’t need hubris; it needs tangible products. Otherwise, what’s the point?


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Author: Paddy Baker
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EOS Again Ranked #1 Cryptocurrency by Chinese Government

The Chinese government has once again named EOS the world’s top cryptocurrency in a ranking that prioritizes innovation and application over market capitalization. Bitcoin, the world’s largest cryptocurrency by market cap and trading volume, jumped seven spots compared with June.

LIONBIT

Crypto Market Ranking

China’s Center for Information Industry Development (CCID) has published the third edition of its Global Public Chain Technology Evaluation Index, which ranks dozens of cryptocurrencies on technology, application and innovation. EOS topped the list for the second consecutive edition despite concerns over the platform’s botched mainnet launch in June.

EOS’ strong performance likely reflects its scalability solutions. The platform’s proof-of-stake protocol is capable of processing a huge number of transactions when compared with leading blockchains bitcoin and Ethereum.

Like the previous edition, Ethereum was ranked second. NEO was bumped out of the top-three in favor of Komodo, which failed to crack the top-15 in June.

The top-ten are ranked as follows:

  1. EOS
  2. Ethereum
  3. Komodo
  4. Nebulas
  5. NEO
  6. Stellar
  7. Lisk
  8. GXChain
  9. Steem
  10. Bitcoin

The first version of the report, released in May, ranked Ethereum as the world’s top blockchain.

TIP

Bitcoin’s Rise

Although bitcoin did not perform particularly well in the first two CCID reports, it has risen through the rankings following a major structural shift in the cryptocurrency market. As Hacked previously reported, bitcoin’s dominance rate has risen more than 40% over the past three months. Bitcoin now accounts for more than 52% of the entire market capitalization for cryptocurrencies after hitting a high of 54.5% last week.

EOS and Ethereum have seen their market values plummet over the same period. Ether’s dramatic fall, which culminated in last week’s 14-month low, has raised alarm bells over the health of initial coin offerings (ICOs) in the wake of last year’s record funding amounts.

Bitcoin’s growing market share essentially means other digital assets will rise and fall on its whim. Although non-correlation with bitcoin is seen as necessary for a healthy, dynamic cryptocurrency market, recent price developments suggest investors are dropping more speculative bets for an asset with a proven track record. According to Ethereum founder Vitalik Buterin, this will ultimately lead to a new era of ICOs with better protocols and more proven business models. This paradigm, known as “Tokens 2.0,” could materialize as early as next year.



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Author: Sam Bourgi
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Why Lisk (LISK) Can Yield A 30x Return On Investment In 2018

Lisk Chart With Values

Lisk (LSK) is the popular fork of a crypto project known as Crypti. The ambitious cofounder of Lisk, Max Koredk now leads the forked version with a vision to create a userfriendly blockchain for smart contracts and Dapp development.Lisk (LSK) came into existence in 2016, the same year Microsoft partnered up with the project for help with its Microsoft Azure Service. Lisk (LSK) recently lost its place in the top 20 league but we believe that is temporary as Lisk (LSK) is a coin with immense potential.


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The basic purpose of Lisk (LSK) is to enable even non tech entrepreneurs to build their own decentralized application on top of the Lisk platform. The interface is extremely user-friendly and very easy to use. What separates Lisk (LSK) from competitors like Ethereum (ETH) is that it uses sidechains. Presently we seem to not have much need for sidechains but as blockchain technology evolves and more and more Dapps are built on a blockchain, the chances of errors will increase.

Lisk Chart With Values

The problem with single blockchain platforms like Ethereum (ETH) is that if a Dapp running of Etheruem (ETH) blockchain runs into trouble due to poor coding or external attacks, it will compromise the whole blockchain and all the Dapps built on. This is a very serious concern when you consider that the likelihood of that happening is even more significant as Ethereum developers first have to learn Solidity language. Solidity being a new language may even have problems of its own and it may not even be the Dapp developers fault while the whole blockchain is compromised.

Lisk (LSK) eliminates that problem by using independent sidechains for every Dapp which will not affect operations of the main blockchain. In addition to that, Lisk is written in JavaScript which is a very popular and widely understood language. This means a lot of experts already exist for this language and if any problems do arise with independent Dapps, they can rely on outside support for a quick and effective fix.

Lisk Chart With Values

While the technology might be appealing, that is not all that makes Lisk (LSK) such a great investment. Lisk (LSK) is currently trading at the bottom of the channel on weekly logarithmic chart, LSK/USD. If Lisk (LSK) follows the same growth as it did in 2017, the price can reach a high of $377 before the end of 2018. This is a stunning 30x return on a relatively safe investment like Lisk. This also makes Lisk (LSK) the best risk/reward investment in the market right now with potential for astronomical gains. The thing with cryptocurrencies like Lisk (LSK) is that the most gains are made in the shortest time frame, in the form of big long candles. It is hard to anticipate the catalyst of such a stunning rally but it will most likely be Lisk’s SDK launch which will truly change the game for a lot of cryptocurrencies in the smart contracts space as Lisk (LSK) regains its lost stature.


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Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Battle Of The Blockchains: Rival Cryptocurrencies And Who Comes Out On Top

Alexander Hamilton and Aaron Burr, Thomas Edison and Nikola Tesla, Taylor Swift and Kanye West – history is full of legendary feuds and rivalries, and the world of cryptocurrency is no different.

While some insist the competition is good for progress and innovation, too much can be counterproductive, with large amounts of time and resources being wasted on undermining the rival’s efforts. Still, the repercussions of a good competition are always fun to watch from the sidelines, so without further ado we present our 5 favourite cryptocurrency rivalries.

1. Bitcoin vs. Litecoin

While Bitcoin, the undisputed monarch of cryptocurrency, could technically be paired off against any altcoin for this list, we decided to go with Litecoin, the “silver” to Bitcoin’s “gold.” Created by Charlie Lee in 2011, Litecoin was intended to have all of the same functionalities of Bitcoin while improving on its shortcomings.

A bold claim. And given Litecoin’s meteoric rise in value of over 4,000% in 2017, for a while it seemed like it might actually overtake Bitcoin.

But how well does Litecoin actually follow through on its ambitions?

First of all, there are a few key differences between the 2 cryptocurrencies. In keeping with the gold/silver analogy, there is a much smaller supply of Bitcoin (21 million) than Litecoin (84 million). Litecoin, a hard fork of Bitcoin, was intentionally made this way to keep prices down. Thus, while Bitcoin is currently valued primarily as an investment asset, Litecoin may achieve its goal of being used for small purchases a lot sooner – so Litecoin has practicality in its favour.

Second, Bitcoin is notorious for being slow and currently suffers from scalability problems. When it comes to processing transactions, Litecoin is a lot faster and more versatile – it takes Litecoin users 2.5 minutes to generate a block, while it takes 10 minutes with Bitcoin.

When it comes to mining algorithms, Bitcoin uses the SHA-256 algorithm, which is highly complex and has led to the development of prohibitively expensive mining hardware (such as ASICs), effectively putting Bitcoin mining out of the reach of the little guy. Litecoin, on the other hand, uses the much simpler Scrypt algorithm, making mining far more accessible to the average users.

Functionally, Litecoin has in many ways the superior technology. It’s quicker, more useful in daily life, and its creator Charlie Lee has high hopes for where it’s headed. However, when it comes to a coin with political clout and first mover’s advantage, Bitcoin is still the name most people recognise and flock to. Plus, Charlie Lee selling all his LTC towards the end of December 2017 was a blow the Litecoin community is still recovering from.

So in terms of coming closer to filling the role of fiat currency, Bitcoin is currently the winning coin. Just as long as it doesn’t get too comfortable on that throne…

2. NEO vs. Ethereum

Here is another obvious comparison, with NEO often being referred to as “China’s Ethereum.” But is it really as simple as that?

After Bitcoin, Ethereum is the mostly highly valued and recognizable name in the crypto world. It came early to the game, launching in 2015, and made waves by offering users the capacity to write their own smart contracts on top of their open-source blockchain. Like Bitcoin, it suffers from scalability problems, but slowness and its older technology have not stopped Ethereum from becoming the second most in-demand cryptocurrency.

While NEO is a relative newcomer to the crypto scene, launching in December 2016, its price has risen steadily, and in a little over a year it has already accrued a robust ecosystem of dapps and partnerships within the fintech industry. And it certainly mirrors Ethereum in many ways: they’re both decentralised platforms that run dapps and smart contracts. They both host ICOs and have their own native token.

Ethereum might be the obvious giant – their market cap (at the time of writing) is US$65 billion to NEO’s US$5 billion. Nearly every ICO is built on the ERC-20 token platform, and “Vitalik Buterin” is as legendary a name as “Satoshi Nakamoto.” However, NEO has enormous potential that shows all signs of it being able to blow Ethereum out of the water.

First of all, NEO’s technology is faster, more secure, and overall superior to Ethereum’s. It can process 10,000 transactions per second, while Ethereum can only process 15. NEO supports different programming languages – C+ and Java, and eventually Python and Go – and uses the more energy-efficient Proof-of-Stake (PoS) validation to Ethereum’s Proof-of-Work (PoW). And, while Ethereum seeks to dominate the dapp market, NEO has a much grander ambition: to be the platform of the smart economy.

A smart economy is an economy based entirely on smart contracts, which will involve all physical assets and user identities represented digitally. To work properly, this will require strict identity verification, and NEO – crucially – has support from Chinese state-backed banks to make this happen. This is enormous in terms of the future development of NEO; getting on the good side of the Chinese government, who are notorious crypto-sceptics, means NEO will have more or less sole access to the Chinese market.

It’s difficult to say who has the edge in this rivalry. In terms of technology, speed, and ambition, NEO is superior to Ethereum. But does that mean NEO is going to “take over” all of Ethereum’s dapp-hosting functions?

Not at all. It’s still very much localised in China, whose market is robust enough to keep any blockchain occupied for a good while. Plus, Ethereum is firmly entrenched as vice regent of the crypto realm in the West, where NEO is still on the fringes of people’s awareness. So for all practical purposes, we’ll have to declare this one a tie.


ICO of the week:
Vanywhere.com:
Working product – ✅
Major player involved – ✅
Experienced team – ✅
Active community and social channels – ✅
Potential of mass adoption – ✅


3. Monero vs. Dash

Monero and Dash are both privacy coins, which tend to raise a few eyebrows, reminding people of darknet and the black market. In fact, privacy coins are coming to the forefront in the digital age, as anti-censorship and protection of our online identities and personal data becomes a hot topic.

Unlike Bitcoin, which is traceable and merely pseudo anonymous, true privacy coins are untraceable and completely anonymous. The market has a long list of privacy coins, some more reputable than others, but at the top of the list in terms of untraceability and fungibility are Monero and Dash.

Dash, to begin with, is a fork of Bitcoin – so it has much of the same function, but with an eye to pick up where Bitcoin left off in terms of privacy, security, and usability. Unlike Bitcoin, whose network is maintained by miners, Dash has a multi-faceted masternode network.

This allows for InstantSend and PrivateSend transactions, which are impossible to be traced by third parties – it is important to note, the PrivateSend function is something users can opt into, rather than private transactions being the default. While privacy is an important feature of Dash, its primary concern is to create a digital currency that people can use easily to make everyday purchases.

Monero, on the other hand, is a fork of Bytecoin, and from a different family tree altogether. It’s fungible, untraceable, and completely anonymous. And Monero is not holding back when it comes to cutting edge privacy features.

Monero runs on the CryptoNote protocol, which makes transactions truly untraceable, as opposed to Bitcoin and its forks, where all transactions and metadata are kept on a public ledger for anyone to look up. Monero ensures complete anonymity using stealth addresses, in which sender and receiver addresses plus amount of currency sent are cryptographically scrambled to anyone except the two parties involved.

Monero also uses ring signature technology, in which funds sent are randomly selected from a group signing pool, making it difficult to decipher who actually sent the transaction.

There isn’t really a contest when it comes to these two coins. While both coins serve their purpose for making transactions, with robust communities and placings in the top 50 cryptocurrencies by market cap, Monero goes all the way in terms of the privacy and anonymity that Dash only dabbles in.

As a fork of Bytecoin, which is itself a fork of the CryptoNote protocol, Monero’s very existence is devoted to honing its privacy features until they’re the very best they can be. So, in the sphere of privacy coins, at least, Monero beats Dash.

4. IOTA vs. ByteBall

In the biz, the term “blockchain” is often used synonymously with “cryptocurrency,” but that is not necessarily the case. In a move away from blockchain, we’re starting to see cryptocurrencies built on a different technology. This is the case with IOTA and ByteBall, which are both built on Directed Acyclic Graph (DAG), a distributed ledger without blocks.

IOTA and ByteBall were both launched in 2016 (July and December, respectively) but they have a few key differences. For example, IOTA runs on DAG technology known as the Tangle, which allows users making transactions to confirm previous transactions in lieu of a transaction fee. ByteBall, on the other hand, charges a transaction fee of 1 BYTE per Byte of data.

But their fundamental difference lies in their scope: ByteBall interests itself in peer-to-peer smart contracts, providing a platform for peer-to-peer insurance or prediction markets (gambling, essentially). ByteBall has also taken a big step towards making cryptocurrency transactions more user-friendly, by offering a feature on their wallet where users can send crypto to an actual email address instead of a long, cryptic alphanumeric address.

IOTA, on the other hand, deals with the Internet of Things (IoT), the exponentially increasing network of inter connectivity between humans and smart devices. IOTA is developing an IoT marketplace, a network of secure, efficient data exchange for the large companies working in the industry – and their zero transaction fees make them a pretty valuable partner.

After a stellar 2017, the upcoming launch of their new desktop Trinity Wallet, and exciting news about joining forces with venture capital companies to build smart cities in China, it’s clear IOTA has enormous potential.

IOTA is still very much in the raw form. With ambitious capabilities in the works such as hardware-as-a-service and data-as-a-service, they’re set to dominate the IoT market once they’re fully fledged. However, their Tangle is not yet stable, and their cryptography is still new to the market.

Therefore, at the moment, ByteBall has the edge, just for its sound technology and features (IOTA doesn’t even offer smart contracts yet). But come back and ask us again this time next year, and we might have a different answer.

5. Lisk vs. Ark

Here we have another pair of parent blockchain (Lisk) and hard fork (Ark). Both platforms have the end goal of bringing about mass adoption of blockchain technology, but they set about doing that in different ways: Lisk by applications, and Ark by SmartBridges.

Lisk, being the original blockchain, has something of a head start on Ark. They already have a few impressive partnerships under their belt, including one with Microsoft Azure. Essentially, Lisk seeks to act as the conduit between companies and blockchain technology, providing an accessible blockchain written in JavaScript as opposed to more esoteric coding languages.

This, in fact, was the driving concept behind Lisk, and it achieves it with a two-punch approach: it offers businesses a main blockchain as well as various sidechains to run dapps. Their ICO at the beginning of 2016 was the 7th most successful in blockchain history, raking in US$5.8 million for a total of 100 million Lisk tokens. Lisk also has a few other winning factors in its corner, including being registered in a crypto-friendly country (Switzerland) and a stellar team, boasting Senior Advisors who previously worked on the Ethereum team.

Ark, on the other hand, has the ambition of creating a web to connect all cryptocurrencies, ultimately building a vast ecosystem of different blockchain platforms. Essentially, Ark’s SmartBridge technology acts as an inter-blockchain translator: once a particular blockchain connects a piece of its code to the Ark system, it is automatically connected to the SmartBridge and can then interact with all the other blockchains on the system.

For example, assuming both of these blockchains are SmartBridge compatible, directions sent over the Monero blockchain could trigger a smart contract on Ethereum. By enabling different cryptocurrencies to act cooperatively, Ark effectively amplifies each of their capacities, as well as the audiences they reach.

While both platforms have innovative technology and sound framework, we give Ark an edge here because of its capacity for linking different blockchains, and for providing the infrastructure for blockchain platforms to work cooperatively. It is Ark, more than any of the other cryptocurrencies mentioned above, that provides credence to the idea that the blockchain revolution truly is more than the sum of its parts, and that blockchains have a lot more to offer in communication with each other than acting alone.

That said, Lisk has had some great momentum in 2018 so far. After a much-anticipated re branding, they have continued to show progress with releases and updates in their tech and ecosystem. If they keep at this pace, they could be setting up Lisk for success in the future.

It remains to be seen how this match-up will turn out.

 


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: Anna Snyder
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