Altcoins

Sleeping Giants of Crypto

While the January crash wiped a huge chunk of market cap off the map with aftershocks rippling through the marketplace ever since, there are a number of projects that have weathered the storm well and continue to show promise for the future. Factors include the team, the total supply, the use case, and the price change since early 2018.

Without any further ado, these are some of the sleeping giants of Crypto 2018.

Ontology

Ontology has a market cap of over $700,000, making it the most high-profile token in this article at number 23 on coinmarketcap. The project launched in March and has seen great success, now trading at $4.77 despite the high circulating supply of 151 million out of a total supply of 1 billion.
The fact that the currency has such a high supply and is still trading above $4 is impressive and rather unusual – it peaked in May at $10.10 per coin, but didn’t crash as is often seen when a new currency reaches a significant ATH and then undergoes a price correction. It dropped to $6 in late May, then spiked again to over $8 in June before dropping back down the following month.

The Project

The website describes the project as follows:

Ontology is a new high-performance public blockchain project & a distributed trust collaboration platform.

Ontology provides new high-performance public blockchains that include a series of complete distributed ledgers and smart contract systems.

Ontology blockchain framework supports public blockchain systems and is able to customize different public blockchains for different applications. Ontology supports collaboration amongst chain networks with its various protocol groups.

Ontology will constantly provide common modules on the underlying infrastructure for different kinds of distributed scenarios, such as those for the distributed digital identity framework, distributed data exchange protocol, and so on. Based on specific scenario requirements, Ontology will continue to develop new common modules.

Essentially the project is a second-generation blockchain aimed to tackle logistics and data storage. Based in China, the project is just about to launch its mainnet.

The Team

The team is an impressive collection of software architects and designers headed up by Jun Li.

Li has a rich academic background, including a Bachelor’s degree in Computer Science, Master’s in Communication Engineering, MBA, and PMP. He is a senior blockchain architect and blockchain solutions professional with 16 years’ work experience in IT and fintech. Li previously provided technical architecture, management, and planning support for top international IT firms and major Chinese financial exchanges.

Lisk

Lisk is another one to keep an eye on in the coming weeks and months – the currency soared with many other altcoins last December to trade at above $20 before coming back down to earth, now trading at about 30% of its ATH, just like Bitcoin. The total market cap is $600,000, and Lisk is trading at $5.62. Compared to Ontology the total supply is quite low at 122.9 million, with 107 million already in circulation.

The Project

Lisk’s Sidechain Development Kit makes it easy for you to build your own blockchain. Our tools are free for everyone, open source and written in JavaScript. Discover your potential with sidechains.”

The project is geared towards blockchain developers, facilitating the creation of new and innovative blockchain solutions.

Lisk aims to make Blockchain technology more accessible with a SDK written in JavaScript, special focus on user experience, developer support, in-depth documentations and the Lisk Academy. The Lisk network is operated using a highly efficient Delegated-Proof-of-Stake (DPoS) consensus model, which is secured by democratically elected delegates.

Lisk launched a mainnet a long time ago (on May 24. 2016),  but Lisk 1.0 is still in development  and soon to be released. Further growth could be on the horizon when it is released.

The Team

The Lisk team of 51 staff is headed up by Max Kordek, a 26-year-old  business strategist and CEO with no prior experience listed before Lisk, making him potentially a wildcard in the otherwise solid project due to a lack of experience. However, Lisk have been on point so far, climbing to number 26 on coinmarketcap and reaching inter-market recognition as a blockchain project, meaning they’re definitely doing something right.

Augur

Coming in at number 34 on coinmarketcap is Augur. The project has a market cap of $400,000 and like many other currencies, is now trading at around 30% of its January ATH ($107) at $36.70. The total and circulating supply is just 11 million, making it even scarcer than Bitcoin – the low supply is definitely an appealing characteristic of the project.

The Project

Augur is a decentralized oracle and prediction platform built on the Ethereum network allowing users to “trustlessly create prediction markets on the outcome of any future event.”

Users feed real-world information into Augur’s contracts. Augur ensures the accuracy of this real-world information by providing a financial incentive for REP token holders to correct markets they believe have been reported on incorrectly. There are several ways users can participate in Augur: you can trade shares in markets, create prediction markets, or participate in the reporting system to keep the Augur oracle working accurately.

The Team

The team is quite formidable – Dr. Jack Peterson heads them up as CEO and Lead Developer with years of experience as a developer and entrepreneur, and the Co-Founder is Joey Krug of Pantera Capital (Chief Investment Officer) who use Augur tech for their predictions.

DADI

This one is by far the smallest one on the list – like, by far.

The project launched in March and the marketcap is under $10 million compared to the $0.6 – $0.7 billion projects listed above. DADI is currently trading at $0.12 after an ATH of $0.4. However, a recent mainnet launch has helped increase the profile of the project which has over 30k followers on Twitter and 20k in the Telegram channel despite the 449 ranking on coinmarketcap.

The total supply is 100 million and over 76 million tokens are in circulation.

The mainnet launched just over a week ago on 28 June, 2 days ahead of schedule.

The Project

The project is described as an initiative aimed at making the internet fairer with a suite of network-ready applications to offer faster and more secure hosting services for websites, APIs, apps and e-commerce stores. It’s a decentralized cloud computing and data storage project with a goal of disrupting the $200 billion+ cloud computing industry by slashing storage costs by allowing anyone to rent their excess device space in exchange for cryptocurrency, cutting out the middleman costs involved in paying Microsoft or Google who buy server farms dedicated to that purpose and have to cover those costs.

74% of the cloud computing market is now controlled by just four tech companies: Microsoft, Amazon, IBM and Google.

DADI is owned and run by everyone, sharing its revenue to help build a fairer internet.

The Team

The team is solid, comprised of experienced early investors and software developers headed by Joseph Denne.

Joseph is the Founder & CEO of DADI, and the visionary behind DADI’s decentralized architecture and web services.

He is an expert in multi-agent and blockchain technologies as well as big data and machine learning. He was responsible for Symphony CMS and has 20+ years experience developing data and content platforms.

Joseph was previously Group Technical Director for the Leo Burnett Group, the Founder of Airlock (a multi-award winning technology company), the Technical Director at Chime Communications and a member of the technology board at the BBC. His work is known across the industry and has been recognised with multiple Webby, Lovie, Emmy, Sony and Bafta awards.

Nothing is certain in the world of cryptocurrency – however, these are the three sleeping giants that I would recommend keeping an eye on. This is not financial advice, but information aimed at informing you on interesting projects in the space that you may wsh to look into. As always, do your own research before choosing to make an investment, and godspeed.

Interested in other cool crypto posts….check out Mining Wars: Bitmain vs Dragonmint and The Price of Bitcoin vs Cost of Mining.

Check out our Crypto Swag store on Teespring

The Raven’s Dispatch – The Week in Cryptocurrency – June 21, 2018

BITHUMB HACKED – $30 Million in crypto lost

“Just when I thought I was out, they pull me back in!” Just when we think the bulls are gathering the troops, the hackers (and exchange) bring us back down. One of the largest exchanges in the world, Bithumb, based in South Korea was recently hacked for $31 million. How did that affect the Bitcoin price? Not much. We are still holding that $6000 support, fam.

The top 5 in terms of marketcap remains unchanged but all showed weekly growth as per the Livecoinwatch image below. The overall cryptocurrency market in the past week increased from $279bln to $289bln representing a 3.5% increase in the past seven days. Your bags are not the only ones suffering. EOS is the only in the top 5 which did not recover as well week to week, likely to do with the news of the “constitutional crisis” their block producers are having.

Bitcoin:  BTC dropped 4% to $6772 in the past week as of this post. Even with the news of the Bithumb hack Bitcoin held that strong $600 support and showed signs of life. How many more Bart patterns are we going to see this year? It wouldn’t surprise me if “The Bart” becomes an accepted crypto technical analysis pattern in the future.

Ethereum: Aaaaand it’s back. Or is it? ETH grew 10% over the past week settling at $537 as of this post. I don’t really see many people saying “buy ETH at $500, you will never see it again” on the social media anymore. I wonder why?

TETHER (USDT): Tether is back in the news this week so we figured we would highlight it in this weeks Dispatch. The idea behind Tether to have each USDT token backed 1:1 by USD reserves. By holding a US dollar for every USDT Tether token, Tether claim that the value is pegged to the USD and will remain stable. The very definition of a stablecoin.

This is great for people looking to secure profits from their holdings, and even better for day traders – nobody wants to profit by exchanging one coin for another only to see both plummet in value. This is great idea, unfortunately the lack of transparency from Tether itself has many doubting each token is backed by a US dollar.

There is not much in terms of price to discuss, because Tether should never deviate from it’s value of $1. That’s not the case as you can see below. USDT has deviated from it’s 1:1 pegging of the dollar, most drastically when it came onto exchanges in February 2015 and again between April and June 2017.

What’s new at Crypto is Coming

Square Granted Bitcoin Trading License – Payment processing company Square has been granted a New York BitLicense, which enables them to operate a cryptocurrency exchange and allow New York residents to trade Bitcoin.

Law firm Freeh, Sporkin & Sullivan LLP (FSS) confirms Tether fully backed by USD – The often criticised and controversial company Tether shared a “transparency update” via twitter yesterday.

Total Dominance: The Story of Binance – The exchange has seen meteoric growth, reaching the highest volume of any exchange just six months after launch and valued at almost $2 billion within the same time frame, making it the fastest ever platform to reach ‘tech unicorn’ status.

Crypto Facilities To Launch Litecoin Futures – UK cryptocurrency exchange, Crypto Facilities, is set to launch Litecoin derivatives contracts from Friday, June 22, according to rumours. The exchange will be offering both short and long positions with weekly, monthly, and quarterly maturities for LTC joining Bitcoin (BTC) and Ripple (XRP) futures. The exchange also added Ethereum (ETH) futures last month.

Underdog EOS Block Producers you should root for – The purpose of this piece is to highlight some of the best candidates at risk of not getting enough votes to earn a spot, and why you might want to support them with your vote, to have a more decentralised and stronger EOS network.

EOS BPs heavily controlled by exchanges (2 from Huobi) and other potential issues – Adding to our recent series of posts on EOS, Nic Carter did a quick recap of the current 21 EOS block producers filtering them by organization, % of stake, affiliation with any cryptocurrency institution, geographical legal jurisdiction. Makes sense to vote for those underdog BPs, eh?

EOS leaving exchanges vulnerable to hacks? – Whoa, that’s a lot of heat for EOS  aint it? Crypto enthusiast Emin Gun Sirer put up an interesting thread today on twitter predicting a massive exchange hack in the next 12 months….all because of potential EOS vulnerabilities.

Is this the cryptopocalypse? Visualizing historical BTC corrections – Check out this visual from the crew at howmuch.net. An easy way to put things in perspective and calm your nerves.

Tezos Refusing To Relinquish Funds Unless Customers Reveal Their Identities – Say what?! Tezos, a much-anticipated smart-contracts platform aiming to rival Ethereum with added features such as self-governance, is holding user contributions to the ICO hostage pending completion of KYC (Know Your Customer).

How money flows into and within Crypto (cool visualization) – Cool visual representation of how money flows in cryptocurrency from coinlib.io. Really easy way to view how money comes into crypto from fiat currencies and how it moves within the ecosystem once it’s there.

What Is A Mainnet Launch and which upcoming launches should you keep an eye on – We have a look at what is a Mainnet, why it matters for your investment and the upcoming mainnet launches you should keep an eye on.

How cryptocurrencies compare with Visa and Paypal – This graphic shows how the top cryptocurrencies (by marketcap) compare to VISA and PayPal in terms of transactions per second.

Explaining Augur for Beginners (infographic) – Augur is highly touted project in the cryptocurrency industry. With its launch date approaching, we decided to take a closer look at how the platform actually works. At it’s core Augur is a prediction market built on top of the Ethereum Blockchain.

Bitcoin ATMs around the world (visualization) – Are there any Bitcoin ATMs in your neck of the woods?

Interview: Gregor Zupanc – DAA Fund Manager at ICONOMI – If you haven’t already, check out our latest interview of ICONOMI DAA fund manager Gregor Zupanc. Get some insight into how they select which crypto to include in their fund Solidum Capital.

Bitcoin hash rate spiking to all time high…despite price slump – Miners don’t seem to be worried about the price in the short term with new entrants continuing to enter the market.

Cryptocurrency news from around the internet

Korean crypto exchange Bithumb says it lost over $30M following a hack – Just weeks after Korean crypto exchange Coinrail lost $40 million through an alleged hack, another in the crypto-mad country — Bithumb — has claimed hackers made off with over $30 million in cryptocurrency.

Bitcoin Is Controlled by China, Won’t Disrupt Banks: Ripple CEO – Wow, salty much? Since Coinbase announced Ethereum Classic (ETC) would be the next available coin on their platform the Ripple CEO has been on angry fit.

Here’s why EOS will confiscate your tokens if you HODL for too long – Bad news keeps rolling in for EOS.

Goodbye, Denver Post. Hello, Blockchain – They left The Denver Post amid newsroom layoffs and interference in the editorial process by the newspaper’s hedge-fund owners. And now those reporters and editors are creating their own news outlet, The Colorado Sun.

Research: Tether, Bitfinex ‘Manipulation’ Reason Behind 2017 Bitcoin Price Highs – EOS and Tether can’t catch a break this week. Tether (USDT) has once again become the source of criticism after a new study blamed it for Bitcoin price manipulation in 2017, The New York Times reports Wednesday, June 13.

‘Evolve & Adapt’: Goldman Sachs May Trade Cryptocurrencies, Not Just Futures – My, my, my how times change…In less than 6 months. Investment banking giant Goldman Sachs is getting more serious about launching a full-scale cryptocurrency trading operation.

29% of High Net Worth Individuals Have a High Degree of Interest in Crypto – Capgemini’s 22nd annual World Wealth Report, which tracks investment trends of high net worth individuals, found that more than half of those surveyed have at least some interest in cryptocurrencies.

Nasdaq CEO says ICOs are ‘taking advantage’ of retail investors – Initial coin offerings have serious potential to rip off retail investors, mostly due to a lack of public information, according to Nasdaq CEO Adena Friedman.

‘Selling Crypto Now Is Like Selling Apple in 2001’, Says eToro CEO – Just #HODL

Walmart wins patent for medical records stored on blockchain – Walmart has been awarded a patent for a system that would store a person’s medical information in a blockchain database and allow first responders to retrieve it in the event of an emergency.

We hope you enjoyed this weeks The Raven’s Dispatch! Don’t forget to sign up for our newsletter so you can receive notifications via email that a new Dispatch was released! Also if you have any interesting news you would like to submit contact us at info@cryptoiscoming.com

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Explaining Augur for Beginners (infographic)

A Decentralized Oracle & Prediction Market Platform

Augur is highly touted project in the cryptocurrency industry. With its launch date approaching, we decided to take a closer look at how the platform actually works. At it’s core Augur is a prediction market built on top of the Ethereum Blockchain.

The platform runs on reputation tokens (REP), decentralized reporting of event outcomes, and this is where REP comes into play. An event occurs that is being wagered on in the Augur Network. Results are reported by REP holders to the network. Upon completion of the reporting period consensus must be achieved on these results before payouts are made to the corresponding parties. Active users that have earned a good reputation for reporting correct results receive trading fees proportionate with REP holdings incentivizing holders and users of the network. Bad actors who report incorrect results lose REP which is redistributed to honest reporters.

Check out this infographic for examples of the process.

infographic from Jonathan Willems, follow him on twitter here

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