Five Coins that Came Out of Nowhere. What are They?
The cryptocurrency total market value hit an all-time high of $126 billion this August and everyone seems to be running around to have a share of it. Let us look at some of the coins that came from nowhere to enter the lists of the best cryptos ever.
These have not only shown great improvements in market capitalization within a short period of crowdsale, but their prices have also improved drastically.
IOTA
Ever heard of the Internet of Things that is already changing the way we do things in the social, tech to business circles? IOTA is meant to be the cryptocurrency of the IoT tech. If machine to machine transactions is the future of the world, then IOTA could become the future of decentralized crypto IoT platforms.
The coin uses directed acyclic graph (DAG) called Tangle instead of blockchain. Not only is it a coin, but a protocol that can be used on IoT devices and for ensuring data integrity in information sharing. So it has real demand in the world out there. It is decentralized network but there is no mining.
IOTA debuted on December 2015 and raised an equivalent of 1,337 Bitcoins in ICO. It then opened beta testing in July 2016, and after 11 months of trading IOTAs over the counter between users, the coin listed on Bitfinex on June 12 2017 for the first time.
IOTA is listed sixth in overall coin market capitalization for all coins, with $2,343,747,187.
The highest ever value per IOTA was recorded this month at $1.09. The price of each IOTA was $0.86 as at the time of this writing. It had a market cap of $ 2.40 billion as of this writing.
Neo
Neo, which has been described as the Ethereum of China, started as Antshares back in 2014 but rebranded to Neo on June 22 this year. It raised 4.5 million in ICO on October 2016, becoming the first significant China ICO.
Ideally, it works like Ethereum. It aims at integrating digital assets, digital identity, and smart contracts into its platform. It allows users to build decentralized apps on the platform and they can execute smart contracts on their blockchains. However, it supports more languages than Ethereum (C#, Java and Python): Ethereum supports its Solidity programming language.
Neo's market capitalization hit past the $1 billion mark for the first time this month and its price jumped from about $10 to $34 in only 10 days. The price of each Neo was $36.67 and the market cap was $1.91 billion at the time of this writing.
It is listed eight in overall coin market capitalization for all coins, with $1,876,785,000.
Omisego OMG
Thailand-based Omise Go is a blockchain-based payment solution company based on Ethereum technology. It was founded in 2013, raised $25 million in a June ICO this year, and is backed by a $20 million venture capital.
It enables real-time peer-to-peer exchanges across fiat money and decentralized currencies. It is set to open to public in the fourth quarter of this year.
With it, a user will be able to do payments, remittances, payroll deposit, B2B commerce and supply-chain finance. That's not all; you can also do asset management and loyalty programs in a decentralized and inexpensive manner.
One OMG is currently valued at $3.03 and there are 100 million tokens in circulation. There are more than 140 million tokens in total.
OMG is listed 13th in overall market capitalization for all coins, at $671,678,562.
QTUM
QTUM became the fourth most-funded cryto ICO by raising $15.6 million within 117 hours in March 2016. The crowdsale saw $10 million of its tokens sold in just 90 minutes. 51 million QTUM tokens were given to the public.
It is the first to implement a protocol based on both Bitcoin's and Ethereum's transaction models. Developers of Bitcoin and Ethereum can switch or port apps easily. It means you can run apps built for both Bitcoin and Etheruem on this platform.
The proof-of-stake (PoS), smart-contract compatible blockchain allows users to build decentralized applications for real-world business oriented use cases.
It is listed 14th in overall market capitalization for all coins, at $610,360,900.
EOS
EOS held its ICO on June 2017 and raised $150 million in just 5 days, and that tells you of its potential. After starting, its price pumped by over 200% in its first day on the Bitfinex Exchange in June.
After the initial ICO, two hundred million EOS were distributed in five days while seven hundred million were split into 350 consecutive 23 hour periods and one hundred million will be reserved for block.one and cannot be traded or transferred on the Ethereum network.
Needless to say, it is a very new coin in the market. However, Dan Larimer, who heads the company, has had two successful crypto coin projects, namely STEEM and Bitshares.
EOS is a blockchain operating system that allows users to build decentralized applications for their business and so competes directly with Ethereum. It can process millions of transactions per second through horizontal scaling.
You can also host ICOs and create tokens on the blockchain, in addition to building applications that use common functions such as user/password, user interfaces and backend (database) management. The applications and frameworks can be shared among developers, making collaboartion easier and faster.
It has recorded a highest value of $1.74 so far this month but its price was $1.4 the time of this writing. It is listed 17th in overall coin market capitalization for all coins, with $411,688,845.
