Written by Karl Timmins
Blockchain technology and cryptocurrencies have developed in many ways since their first inception. Cryptocurrencies have given people around the world a new method of financially interacting independent of a relevant intermediary helping to pave the way for the current crypto market.
Firstly let us look at some coins within the market and some indicators for their potential performance –
Qtum is a Singapore-based company has recently been added to the exchange Poloniex. Qtum is a Dapp platform and has a number of live applications running via its website https://qtumeco.io/dapps. Qtum utilises both smart contracts and the proof of stake algorithm. Qtum currently sit’s at number 29 on the list of top coins by volume as per https://coinmarketcap.com/. Qtums previous all-time high priced at 0.00607530 in January 2018. Upon download of the Qtum Core wallet a user can operate a node with no limitations on minimum holdings, providing a return on investment for the node operation.
SONM (as per their website https://sonm.com/) ‘provides cloud services based on distributed customer level hardware, including PC’s, mining equipment, and servers’. Users can buy or sell computational power via the SONM service. SONM specialises in back-end FOG computing, creates a smart contract market place and provides decentralised cloud services.
Ethereum FOG http://ethereumfog.org/ is a fork of Ethereum focusing on FOG based computing. FOG computing allows for cloud-based services to be readily utilised by regular consumers and businesses alike. Ethereum FOG is currently under development and was introduced in November 2017.
Keeping up to date with the crypto market is an important aspect of trading virtual currency. New platforms and improvements are being introduced on a near-quarterly basis. Coin forks which look to improve on previous versions are becoming more and more a part of the crypto trading sphere.
Coin forks which look to address specifically produced Asic miners are being discussed by many coin development teams. Sia coin is one example of how coin developers are attempting to become Asis resistant to allow for a more transparent mining community. More can be found on this topic on Sia coins blog https://blog.sia.tech/
Coin forks can be used to both improve and disrupt the crypto ecosystem as was seen upon the fork of Bitcoin which produced Bitcoin cash. The developers of Bitcoin cash promoted a better product with faster and cheaper transactions. This may have been true to an extent however it was not widely accepted within the community but is still available to purchase via a number of prominent exchanges.
Ethereum is another currency which has forked in the past leaving behind Ethereum Classic, which Charles Hoskinson creator of the Cardano platform was apart of for some time and is now also readily available via a number of large exchanges.
Keeping up to date with these occurrences can ensure you know which coins have potential to continue to rise and which could be left behind within the ever-evolving market. Coins can be acquired to become part of larger projects and some coins can be left unchecked with no development teams to monitor (this as you can imagine would not be a very good place to put your hard earned income). Market research and staying up to date can mitigate some of the risk if either entering for the market for the first time or managing a portfolio of crypto assets.