Top Cryptocurrencies In China
The imposition of certain regulatory terms on China’s domestic crypto trading over the last few years hasn’t stopped the viability and upward surge of certain Chinese cryptocurrencies both within China and on the international scene.
In no particular order, some of these top cryptocurrencies include:
NEO
‘Antshares’ was officially rebranded in 2017 as NEO and has gone on to claim the spot as the first decentralized and open source Chinese cryptocurrency platform. With the major aim of achieving a conversion of traditional assets to digital ones by utilizing smart contracts, NEO effortlessly maintains a top spot in China’s cryptocurrency sphere.
NEO has continued to exhibit high potentials as it has been tactically designed in a regulator-friendly manner which runs on a centralized approach. It also gives adequate room for development of digital assets and supports the protection of these assets by ensuring that assets that are registered on its platform through a validated digital identity have legal protection.
It was founded by Da Hongfei, the NEO team is made up of professionals who have years of expertise in the cryptocurrency world and technological sphere as a whole.
Wanchain
One prominent feature of Wanchain is that it eases the connection between different chains with a framework that makes exchange less stressful. Wanchain introduced privacy within its smart contracts by utilising one-time address generation and ring signatures. The one-time address generation operates by allotting a new address for each transaction thereby making a detection of any transaction pattern impossible while the ring signature creates a mixture of the sender’s signature with other fake accounts thereby making it difficult to trace it back to the actual sender. Wanchain is also run by a team of blockchain experts including Jack Ku and Dustin Byington.
Achain
Achain is a public blockchain platform which is very simple and secure. Although it remained under development for a while, the cryptocurrency has gained market recognition in terms of digital asset issuance and its unique Result Delegate Proof of Stake. It has a very fast transaction performance which is up to 1000TPS (transaction per second). The cryptocurrency platform also makes it easy for holder to create and run their own smart contracts and has adequate copyright protection measures in place.
VeChain
VeChain is one of the top cryptocurrencies in China with a specific focus on financial services, smart contracts and supply chain management. It is the leading blockchain that aims to increase trust and transparency in business transaction and can be used in almost every industry. It runs on a two coin system and holders are able to generate passive income as each VEN will generate .00042 THOR. VeChain is the first to partner with the Chinese government and currently has partnerships with billion dollar corporations. VeChain comprises of an expert team led by Sunny LU, who is also a cofounder of the internet company that created QTUM.
Qtum
Qtum is an open source cryptocurrency built upon an infusion of reliable blockchain technologies for real-world business applications. It works with a hybrid of concepts and established codes to develop a better system. The cryptocurrency project has the aim of moving mobile blockchain development to an advanced level by utilising Bitcoin’s UTXO that allows light wallets on mobile devices to be used for execution of smart contracts. With this improvement, users will be able to personally develop their token, automate any selected task and personally execute agreements in a trust-based workable environment. Its team is made up of the expert developers and blockchains professions such as Jordan Earls.
HPB
Often hailed as the “EOS of China”, High Performance Blockchain (HPB) is based on hardware and software acceleration system that helps them achieve high throughput and low latency. The system has a dedicated custom network called TCP/IP Offload Engine (TOE) which works as a specialised accelerator allowing millions of transactions per second. It has plans of developing a Smart Contract lifecycle management system which gives room for complete control and management of submission, use and probable cancellation of the smart contracts. It has a strategic partnership with China’s largest financial data company, UnionPay. Its team of expert professionals is led by Wang Xio Ming, a veteran blockchain expert.
Ontology
Ontology has a system which makes it possible for the blockchain to have its own independent network. It has a system which highlights the shortcomings of centralized trust networks such as weak privacy protection and ineffective identity and seeks to remedy these. The system is modelled on its own ‘ontorand’ consensus mechanism and has an approximate average of 20 second block creation time.
With a team of experts led by Jun Li, it also partners with NEO and Chinese venture capital firms such as Sequoia china, Zhenfund among others.
In conclusion, it still remains pertinent for you to carry out a comprehensive research on any of the cryptocurrency you decide to invest in so as to have detailed knowledge of the dynamics of the particular system. The Chinese cryptocurrency market is growing exponentially and now is the right time for you to join us on this rapidly moving train.
