3 Cryptocurrencies with Potential for Success in 2019
The cryptocurrency sphere is moving forward, with new crypto coins entering the market. Meanwhile, existing cryptocurrencies are also developing. And while Bitcoin is just a store of value, altcoins with real-world utility are gaining in popularity. Among them, Ripple, Ethereum, and Stellar have potential to explode in 2019.
Ethereum blockchain and improvements on schedule
The second largest cryptocurrency by market cap hasn’t lost its position and status in 2019. Despite the falling market, the most popular altcoin seems poised to stay at the top. Ethereum started a revolution, and its developers don’t intend to give up. According to the upgrade plan, Ethereum should continue its growth this year.
What’s already making Ethereum stand out
Ethereum has been the second most influential crypto technology after Bitcoin. But unlike the number one cryptocurrency, Ethereum focuses on applications beyond finance. That’s why Ethereum now has considerably more use cases. With its unique technology, it’s managed to achieve vast success. Here are some reasons for that success:
- Smart contracts
This has become the signature feature of the Ethereum blockchain. Smart contracts are self-executing and decentralized agreements, offering a guarantee that contract conditions will be fulfilled. Smart contracts can replace agreements on employment, purchasing, and many other things.
- Decentralized apps
These independent applications use smart contracts to manage their activities. Decentralized apps (DApps) include P2P marketplaces and gambling apps. The main benefit of these apps is that they eliminate third parties.
Improvements on the agenda
Though the Ethereum network uses advanced technology, it has experienced some unpleasant issues. One of them — the problem of scalability — arose after the launch of the CryptoKitties game. The situation with the clotted network has pointed out that developers must improve the network. Ethereum developers are striving to make it more efficient and cheaper by implementing upgrades that are still on the roadmap.
Ripple’s plans and expanding adoption
Ripple (XRP) is another cryptocurrency that has already started changing the financial system. Bank of America, Credit Agricole, Mizuho Financial Group, and Santander have already partnered with Ripple. Ripple’s creators have shared that more than 200 banks are already using the Ripple ecosystem as of January 2019.
Western Union and Ripple
One of the most anticipated pieces of news about Ripple in 2018 was the network’s cooperation with Western Union. At the end of 2018, Western Union announced they were already testing if payments based on the Ripple blockchain are faster and cheaper than payments using their current system. The partnership is only a test, but statements that Western Union is ready to accept cryptocurrencies are promising.
The Ripple technology connects banks, payment services, and asset exchanges via RippleNet. The developers of Ripple want to ensure the best experience of sending money globally. So it’s no wonder that Western Union has decided to see which way the wind blows. With a partner like Western Union, Ripple may achieve a worldwide takeover.
Beyond Western Union
In 2018, Santander Bank also partnered with Ripple to integrate RippleNet for cross-border payments. This partnership will increase the network’s adoption and boost its popularity. Ripple can expect even more of a lift if we continue to see growing interest due to its security and compliance.
More partnerships are shaping up as Ripple developers work to implement the Cobalt Algorithm. After this upgrade, cross-border payments will take less than a second, completely changing the way money is transferred.
Stellar’s roadmap and development potential
The Stellar blockchain with the Stellar Lumen coin (XLM) saw success in 2017 and kept the momentum through 2018. The team continues developing the project to achieve even more in 2019. One key to further success is increasing the number of partnerships, and plenty are on the agenda. On top of that, New York financial regulators have already signaled (when they approved the trading of the coin on itBit) that there are no regulatory issues with Stellar Lumens.
What does the future hold?
Though Stellar is already one of the top 10 cryptocurrencies, its creators plan to make the blockchain more accessible. They also expect an increase in popularity due to fruitful partnerships.
Here are the most important factors that may contribute to Stellar’s growth:
- Stellar is working on IBM’s Blockchain World Wire, which has global implications and far-reaching development potential. Thus, Stellar’s adoption and value could rise significantly.
- The focus of the network lies on disrupting banking institutions and bringing value to them. Low cost and fast transaction processing will be the most important ingredients for success.
- Stellar can win over Ethereum due to its efficiency. Like Ethereum, Stellar allows for building DApps as well as launching new cryptocurrencies and ICOs. But it’s much faster and cheaper.
What’s already been done?
Stellar’s initial partnership with IBM brought the platform to the public. Their joint project is already alive. Many expect it will strengthen Stellar’s market position, especially for institutional investors.
Another accomplishment is Stellar ATMs, which enable the conversion of fiat money into crypto and the sending of that crypto to any location. These ATMs are already successful in some developing countries. They will stimulate the adoption of XLM by people with limited access to other financial tools.
Cryptocurrency market predictions
Experts in blockchain and crypto predict higher prices for cryptocurrencies with utility value. One such example is Ethereum. It’s been on the rise due to smart contracts and application development. Stellar (XLM) and Ripple (XRP) could also become some of the most in-demand cryptocurrencies.
For Stellar and Ripple, partnerships with world-famous financial institutions prove their practical value. Following wider adoption, both Ripple and Stellar might see a considerable price increase over the next decades. At the same time, Ethereum is working to improve its technology, so it may also draw more investors.
You might consider buying any of these cryptocurrencies now. But be very attentive. Keep in mind that cryptocurrencies are unpredictable. Thoroughly consider the risks before investing in any crypto.
This article should not be seen as trading or financial advice.
