What Altcoins are Worth to Invest?
The size of global cryptocurrency market is expected to reach USD 1,758 million by 2027 with a CAGA of 11.2% (2020–2027), according to report published by Fortune Business Insights. The rising popularity of cryptocurrencies among population in developed countries will have a tremendous impact on the market.
Ethereum is the second largest cryptocurrency by market capitalization after Bitcoin, Ethereum has saw an over 17000% grow in return from January 2017 ($9) to January 2018 ($1,389).
Ethereum was the first to provide blockchain platform for developer to build their own smart contracts and decentralized apps. However, one of the challenges Ethereum face is its scalability, as the Ethereum’s network currently supports around 15 transactions per second.
Ethereum is expected to upgrade its network from Proof-of-Work to Proof-of-Stake in 2020. The upgrade is aim to increase its scalability.
Litecoin was created by an ex-Google employee, Charlie Lee in 2011. It was created with an aim to overcome some of the shortcoming of Bitcoin such as its slow transaction speed. The market capitalization of Litecoin has grown over 9 years and now it is around $3.28 billion.
Litecoin is 4 times faster than Bitcoin in term of the speed of transactions. Since Litecoin was built based on Bitcoin’s technology, it is considered to be the closest competitor of Bitcoin.
Litecoin saw a return of 8000% in 2017 when it grew from $4 in January 2017 to $350 in December 2017.
EOS was launched in June 2017 by Dan Larimer, who also was one of the co-founders of cryptocurrency exchange Bitshares and blockchain-based blogging site Steemit.
EOS is similar to Ethereum where EOS is both a digital currency and a blockchain-based platform for DApps and smart contracts. However, EOS employ a technology called Delegated Proof-of-Stake (DPoS) against Ethereum’s Proof-of-Work (PoW). It makes EOS more scalable than Ethereum.
EOS hit an all-time high at $22.89 on 2018 with ROI of 244%. It shows EOS has a lot of potential to reach its previous high.
Dash was launched in 2014 by Evan Duffield, it was called Xcoin when it was first launched, and later rebranded to Dash in 2015.
Dash was forked from Litecoin, with its mechanism was built on Bitcoin’s technology. Dash has made major improvement compare to Bitcoin in term of privacy and transaction speed.
One of the major improvements is that Dash hide the public address of the sender and receiver, whereas the public address is known in Bitcoin’s transaction, making Bitcoin’s transactions traceable while Dash’s transaction cannot be traced back.
There was a return of 15,000% in 2017 when Dash grew from $10 at the beginning of 2017 to its all-time-high of $1540 at the end of 2017.
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