Bottom Line: Is Eos Worth An Investment
EOS is one of the biggest challengers of Ethereum to crown the best dApp platform. Both technologies differ significantly. However, EOSs approach is also very interesting. However, the initial phase of EOS has shown that the project is not yet mature. Ethereum has a clear time advantage here, as the Ethereum Mainnet has been live since July 2015. Which platform will become the No. 1 dApp platform, however, will only be shown in the next few years.
Does Coinmarketcapcom List All Cryptocurrencies
No, we do not list all cryptocurrencies at CoinMarketCap. As a company and team, we are very aware that not all coins and projects have good intentions. While we cannot guarantee to exclude them all, we have a vetting process that each coin goes through before it is listed on the site. If we suspect that a coin or project is a scam, it does not get listed.
Why Invest In Ripple
Ripple has a partnership with American Express which made many believe it would be a solid investment as it was backed by a solid company. But this is also where Ripple is likely to meet its downfall.
Theres some discussion that Ripple will eventually fall to more large banks and corporations which is a good security measure but doesnt offer any real difference from our current financial system.
Ripple is a low-cost investment compared to Bitcoin or Ether due to its current price but that has skyrocketed and then plummeted in the past. That being said, it is still one of the top ten cryptocurrencies. But for investment purposes, Ripple should be thought of as a cryptocurrency equivalent to a penny stock which is exactly where its trading.
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Why You Should Invest In Tron
This is a relatively new and generally well-accepted crypto, which would seem to give it more potential than most of its competitors. That said, its very difficult to gauge price performance on any crypto trading at less than a dime.
But within that low price range, TRON takes wild price swings. If youre a trader, with a good nose and stomach for tracking the dramatic price swings, it might be a good short-term hold. But thats speculating, not investing, so I dont recommend this for the faint-at-heart.
Bitcoin’s Biggest Potential Competitor Discussed At Mit Conference
Applied cryptography consultant Peter Todd speaks on a panel at the 2019 MIT Bitcoin Expo.
MIT Bitcoin club
At the recent 2019 MIT Bitcoin Expo, there was a debate, which turned out to be more of a discussion, about the usefulness of permissioned blockchains versus permissionless cryptocurrency networks like Bitcoin.
Much like a similar panel at SXSW, a key distinction made during the conversation had to do with the utility of something like Bitcoin for financial activity that would normally be suppressed or censored in the traditional financial system.
This point leads to the conclusion that Bitcoin does not compete with Visa or Mastercard. Instead, Bitcoin should be compared to other systems that are used for regulatory arbitrage.
Bitcoin Doesnt Compete with Visa or Mastercard
Although the early advocates of Bitcoin who were working on startups in Silicon Valley were raving about the peer-to-peer digital cash system as mainly a payments innovation back in 2013, things havent really panned out that way.
Visa and Mastercard already won in many respects, said applied cryptography consultant and former Bitcoin Core contributor Peter Todd during the recent panel at the MIT Bitcoin Expo. When youre talking about the sort of things already compete well in, Bitcoin doesnt have a hope.
Todd added that Bitcoin shines brightest in areas where regulations are restricting the flow of money.
What is Bitcoins Real Competition?
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What Is An Altcoin
The very first cryptocurrency was Bitcoin. Since it is open source, it is possible for other people to use the majority of the code, make a few changes and then launch their own separate currency. Many people have done exactly this. Some of these coins are very similar to Bitcoin, with just one or two amended features , while others are very different, with varying models of security, issuance and governance. However, they all share the same moniker every coin issued after Bitcoin is considered to be an altcoin.
Ethereum: How It Started
Even though Bitcoin will always be remembered for introducing the blockchain technology and the concept of cryptocurrency in the world, it can be said that Ethereum has transcended Bitcoin by revolutionising finance in the world. It was created by a 27 year old Russian programmer named Vitalik Buterin, who named it after Ether, a scientific term from the 19th century.
As soon as smart contracts were made available on Ethereum, it became a revelation in the world of crypto. As Bitcoin was considered to be an alternative to currencies, Ethereum became an alternative to that and everything beyond. Ethereum empowered the developers to utilize the technology of blockchain and build things that would revolutionize the future.
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Most Altcoins Are Tiny
If you add up the value of all Bitcoins, the total comes to around $7.6 billion. That’s more than 10 times the value of all other cryptocurrencies put together.
Bitcoin’s biggest competitor is one of the first altcoins to come on the scene: Litecoin. Litecoins are worth around $274 million. The next-largest, Nxt, is worth just $60 million.
New Altcoins Keep Popping Up
In recent months mature altcoins have been losing value more rapidly than Bitcoin. However, every few months a new altcoin catches the public imagination and leaps into the top 10. The latest example is Darkcoin, a privacy-focused cryptocurrency that was officially announced in January. Its market value skyrocketed in May from $1.50 to $11.75. Today, the value of all Darkcoins in circulation is about $45 million.
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Ethereum Has A Bright Future But Rising Competition Will Cap Its Near
Ether, the second-biggest cryptocurrency in the world and the native token of the ethereum blockchain, has long been the default alternative to bitcoin.
Farooq is a big fan of the token in the long term, and predicted that its market capitalization, currently sitting at $500 billion, will surpass that of bitcoin in the next three to four years in an event known as “the flippening.” However, in the near-term Farooq believes that ether will spend the next year and a half “range-bound” between $3,500 and $4,800, as it has for the past few months.
In response, a slew of competitors have sprouted up in hopes of becoming “ethereum killers:” cardano , solana , terra , avalanche , and polkadot . These tokens gained fans because they promise more functionality and scalability, Farooq said.
Though the long-term picture for ethereum is intact, Farooq said there could be “near-term pressure” as the token’s top competitors gain momentum, hence his tempered price target.
Why You Should Invest In Monero
Due to the security concerns with Monero, its highly recommended that you avoid investingin it.
That being said, its an important cryptocurrency to know about. Monero demonstrates what can go wrong when you attempt to have an entirely anonymous cryptocurrency. It begs the question: can cryptocurrencies survive without the backing of banks and corporations?
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Eos History And Development
The founder of the project is Dan Larimer, who was already active in the crypto world before EOS. With the two projects BitShares and Steemit he co-founded two very well-known crypto currencies, but left them prematurely, which is why he was criticized several times. Steemit is still a very popular social media platform today, with more than half a million user accounts and where users are paid to create and maintain content in Steem.
The Initial Coin Offering from EOS was unique. The ICO was held for a full year and ended in June 2018. Until then, EOS was based on Ethereum and was an ERC20 token. It was only with the launch of the Mainnet in June 2018 that there was an EOS Coin. The EOS ICO was one of the largest of its time, when the project raised 4 billion dollars, remarkably in Ethereum. There are numerous speculations as to whether EOS, as an ETH whale, was not responsible for the strong price losses of ether in 2018 due to the sale of large quantities of the collected ether.
Will Ethereum Lose Its Dominance Over Defi And Smart Contracts
While Ethereum has provided tremendous value to the crypto community, it faces issues with limited scalability that leads to a congested network during busy times like now.
For that reason, multiple smart contract platforms featuring high scalability and innovative functionalities have emerged to take on Ethereum.
However, except for Binance Smart Chain and a few other projects, the blockchain networks of most Ethereum competitors are still under development.
Therefore, it will take some time to see whether they might displace Ethereum as the dominant smart contract and decentralized application platform.
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Bitcoin Competitors: What You Should Know About 6 Alternative Cryptocurrencies
Unless you completely avoided any tech and business news in the second half of 2013, youve heard about bitcoin, the digital currency that skyrocketed in value and mainstream consciousness. The cryptocurrency is currently trading at a value of $930, and more businesses around the world are accepting bitcoins.
What many people dont know is that bitcoin is just one of dozens of cryptocurrencies on the Internet. BitInfoCharts shows a side-by-side comparison of the currencies to show what they are worth, how many transactions happen each day, and how difficult they are to create.
So putting aside bitcoins for now, which are by far the most well-known and valuable, here is what you need to know about some of the most popular bitcoin competitors.
1. Litecoin First Mined Dec. 7, 2011. Worth $24.95 USD
Litecoin has the distinction of being the most valuable cryptocurrency next to bitcoin, currently trading for around $25. Some call litecoin the silver to bitcoins gold, and many investors who missed the bitcoin bandwagon are putting money into litecoin, hoping for a similar explosion in value. Litecoin is designed intended to be more efficiently mined and faster to conduct transactions in than bitcoin.
2. Dogecoin First Mined Dec. 6, 2013. Worth $0.000328 USD
3. Quarkcoin First Mined July 21, 2013. Worth $0.06607 USD
4. Peercoin First Mined Aug. 16, 2012. Worth $5.82 USD
5. Freicoin First Mined Dec. 21, 2012. Worth $0.06572 USD
Why Invest In Litecoin
Next to Bitcoin, Litecoin is the top cryptocurrency as of now. So, if Bitcoin is just a little too expensive for you to invest in, try Litecoin.
Its nearly identical to Bitcoin, but transactions are faster which is one of its biggest draws.
However, there is some discussion as to whether this speed makes Litecoin less secure.
You should also be aware that while Litecoin has provided impressive returns in the past year, its current price is lower than the $244.97 it was trading at a few years ago. While all cryptocurrencies are volatile, it looks as if Litecoin may be even more so.
Which Is The Best Cryptocurrency To Invest In
CoinMarketCap does not offer financial or investment advice about which cryptocurrency, token or asset does or does not make a good investment, nor do we offer advice about the timing of purchases or sales. We are strictly a data company. Please remember that the prices, yields and values of financial assets change. This means that any capital you may invest is at risk. We recommend seeking the advice of a professional investment advisor for guidance related to your personal circumstances.
Who Are Ethereums Main Competitors
Since its launch in 2015, Ethereum has been ruling the smart contract blockchain sector. And this shouldnt come as a surprise.
While Bitcoin provides store of value and transactional functionality, Ethereum allows developers to run self-executing digital agreements , create decentralized applications , as well as ERC-20 tokens on top of the ETH blockchain.
As a result, Ethereum has been powering 2017s Initial Coin Offering craze and the current and Non-Fungible Token booms.
However, while it offers tremendous benefits to developers and end-users as well, Ethereums main weakness is limited scalability.
Due to this problem, Ethereum has become congested due to the networks heavy usage, which significantly increased gas fees, especially for those utilizing DeFi DApps.
And, despite Ethereum devs working hard to fix these issues with ETH 2.0, the major upgrades launch is still at least a year away.
For that reason, multiple blockchain platforms have gained increased popularity recently.
These solutions feature the same smart contract functionality as Ethereum. At the same time, they are highly scalable, effectively preventing network congestion in the future.
Now, lets take a look at them!
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The Trading Platform Surged By Operating From Nowhere In Particularwithout Offices Licenses Or Headquarters Now Governments Are Insisting On Taking Some Control
The worlds fastest-growing major financial exchange has no head office or formal address, lacks licenses in countries where it operates and has a chief executive who until recently wouldnt answer questions about his location.
Started just four years ago, Binance is the exchange giant that towers over the digital currency world, a crypto equivalent of the London, New York and Hong Kong stock exchanges combined. After a burst of growth, Binance processes more trades for cryptocurrencies such as bitcoin and ether each day, $76 billion worth, than its four largest competitors put together, according to data provider CryptoCompare.
The Top Five Ethereum Competitors
Ethereum is the second most valuable cryptocurrency project in the market today. The blockchain computing platform is widely heralded as the beginning of the blockchain 2.0 phase. This is about the fact that its creator Vitalik Buterin further built on the original iteration of the blockchain, the Bitcoin network.
Buterin created a new blockchain network, which was able to support a new type of blockchain-powered innovation called smart contracts. Smart contracts are coded, self-enforcing contractual transactions that have the potential to replace intermediaries in a wide array of human-to-human, human-to-machine as well as machine-to-machine interactions.
Buterin, therefore, introduced a higher level of applicability to the blockchain space through the Ethereum Network. With Bitcoin, it was possible to store and transfer value, but Ethereum provided a platform through which whole blockchain-based ecosystems of different functions could be built. This is encapsulated in the Ethereum whitepaper, which states:
What Ethereum intends to provide is a blockchain with a built-in fully fledged Turing-complete programming language that can be used to create contracts that can be used to encode arbitrary state transition functions, allowing users to create any of the systems described above, as well as many others that we have not yet imagined, simply by writing up the logic in a few lines of code.
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Move Over Bitcoin And Make Way For These More Promising Cryptocurrencies
In many ways, bitcoin has carried the cryptocurrency marketon its back. For years, prior to March 2017, bitcoin comprised between 75% and95% of the aggregate virtual currency market cap. Even today, with more than1,600 different digital currencies for investors to choose from, bitcoin stillaccounts for around 37% of the aggregate $430 billion cryptocurrency marketcap.
Investors have relished in bitcoins first-to-marketadvantage — trading began all the way back in March 2010 — as well as itsnumerous partnerships with online and brick-and-mortar merchants. The scarcityof bitcoin, vis-à-vis its 21-million-coin limit, has also played a role inpushing its valuation higher than all other virtual tokens.
But what if bitcoin doesnt turn out to be the greatestthing since sliced bread among virtual coins? For instance, its blockchainnetwork has been bogged down by the inability of its community to reachconsensus on what upgrades should be implemented. The result has beensignificantly slower transaction validation and settlement times than itspeers. Even with the hope of implementing the Lightning Network to speed upbitcoins processing times, the damage could already be done.
Rather than placing your trust in astodgy virtual currency, consider the following six cryptocurrencies as possiblealternatives to bitcoin that could one day takes its place as the worlds mostvaluable virtual currency.
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There Are Hundreds Of Altcoins
One list counts 344 altcoins. Of course, some of these are extremely marginal. But there are 155 actively traded altcoins with a market value of at least $10,000. And 34 of them are worth more than a million dollars.
One of the altcoins, Dogecoin, has managed to cut through the clutter by adopting a silly internet meme as its mascot. That helped its value to skyrocket in late 2013 and early 2014. It’s now the fifth-largest altcoin, with a market value of $24 million.
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The Market Is Still Figuring Out The Future Of Cryptocurrency
Why do we keep seeing cryptocurrencies appear, skyrocket in value, and then steadily decline? There’s a ton of uncertainty about the future of cryptocurrency. Bitcoin has dominated the market since its inception five years ago, and most likely it will continue to do so. But it’s possible that people will find a technical flaw in Bitcoin that will lead to its collapse. Or someone might invent a competitor that has crucial features Bitcoin lacks.
Most new altcoins try to offer technical advantages over Bitcoin. Darkcoin is focused on privacy. Litecoin is focused on faster transaction times and more democratic rules for processing transactions, a process known as mining. Nxt is designed to have a more energy-efficient mining system that’s also resistant to attacks. Dogecoin emphasizes its friendly and enthusiastic community.
Will any of these innovations provide a decisive advantage over Bitcoin? It’s not very likely Bitcoin’s popularity gives it a huge advantage. But if a Bitcoin competitor does dethrone Bitcoin, whoever owns a share will become wealthy. So every time a promising new cryptocurrency comes along, a certain number of people make speculative bets on it in hopes it’s a Bitcoin killer. So far none of them have been, but people keep hoping.