Cryptocurrencies Set to Explode in 2019
These 3 coins are the most undervalued on the current market.
The hype of cryptocurrency has died down considerably. The back half of 2018 has seen as strong cooling of the overall crypto market off of the highs of the top of the year. The market’s main price indicator, Bitcoin, has dropped down to $6,409 USD as of the writing of this article from the all time high of $19,783.06 USD of December 2017. The crypto market has reduced from a market capitalization of $800 billion USD in total at the January peak down to about $100 billion USD today and the ICO market has cooled at the same time. By all measures, the crypto market has lost the hype.
While the numbers can be misconstrued to be a negative, several indicators point to the market maturing and only actual valuable cryptocurrencies surviving. Just months ago, everyone and their grandmother was looking to hop into the market with little valued placed on the underlying technology or projects associated with the cryptocurrency, with more than $600 Billion USD being dumped into the market.
The regulatory environment worldwide is catching up to the industry, with regulations put in place in places like Canada, Japan, India, Malta, Switzerland and the USA slowing the rate of scam ICO projects. Additionally, several faulty projects that raised millions of dollars but failed to delivered working projects has made crypto enthusiasts more discerning.
All this is to say, the projects that will survive and thrive into 2019 are the ones that have innovative technology, a real way to make money besides crypto price inflation, and a market niche. These three projects below are undervalued below the current market malaise and are set for strong growth in 2019.
Elastic (XEL)
Website: https://xel.org/
Source Code: https://github.com/xel-software
Project
Scientific and computing intensive tasks such as non-linear optimization of weather forecasting or the simulation of quantum mechanics “require computing resources that exceed those of any single computer by many orders of magnitude”. Thus, to provide this service many projects have sprouted up that let users volunteer their computer power in a pooled supercomputer that uses power from multiple devices on a network through the internet. This process relies on benevolent volunteers and doesn’t provide a stable basis for running longterm projects. Alternatively, cloud computing has arisen through commercial providers like Amazon but this solution can be extremely expensive and work intensive through coordinating the management logic.
This is where Elastic steps in. Elastic is building a decentralized supercomputer through use of a blockchain network. The computational power of all the nodes in the network is bundled and distributed through the blockchain to those who code their tasks into the system. Nodes that offer their computing power are rewarded with cryptocurrency payments, creating an incentive for all participants. Additionally,
Why It Is AWinner
Elastic has a strong use case. Similar to how Ethereum offers a decentralized application platform, Elastic offers a decentralized computing platform. They have a clear market and have been on the market for a significant amount of time. Their main competition, Golem matches those that need computational to those that are providing it, but does not ensure the correct distribution of, and payment for computational power.
Additionally, Elastic has a low supply, and over a year of developing under their belt.
Enigma (ENG)
Website: https://enigma.co/
Source Code: https://github.com/enigmampc
Project
Enigma is building a blockchain that protects the privacy of data on the network while still allowing for computations to be ran with the data. Instead of smart contracts, Enigma has secret contracts where data is kept secret from the nodes that execute the network code.
The invention of secret contracts opens up a wide range of uses for business. Currently, many large scale organizations that are experimenting with blockchain only see value in B2B uses on a private chain such as Hyperledger. With Enigma, organizations would be able to exchange sensitive data in a B2B or B2C without compromising the security they have with traditional databases or with private blockchains. This is big for organizations in personal and customer data, credit, government information and healthcare information.
Why It Is A Winner
Enigma is backed by a strong team made up of mostly MIT graduates, has an excellent and thorough whitepaper, a useable testnet, an extremely valuable use case and a partner in Intel. Additionally, they don’t have any direct competitors in their market niche, and a relatively stable coin price compared to other altcoins in it’s age bracket. They have partnered with both Kyber Network and Aion in to push the project forward as well.
They project is down more than 85% from it’s all time high but the price has levelled off. We predict as the project gets closer to being finished the price will steadily rise.
Fast Access Blockchain (FAB)
Website: https://fabcoin.co
Source Code: https://github.com/blockchaingate , https://fabcoin.pro
Project
FAB is the brain-child of serial entrepreneur and expert developer Paul Liu who was looking to build a decentralized supply chain application. Based in Canada, the project boasts developers from around the world with the main focus on solving the scalability issue in Proof of Work (POW) blockchain platforms.
Currently, blockchain networks use Proof of Work consensus mechanism because they are the most decentralized and have the best security, but they have low transaction through-put because transactions are very compute intensive. Because of the low throughput, networks that run applications like Ethereum can not host large enterprise-level applications that require high speeds, and even worse, applications already built on the network cannot scale up.
FAB uses side chains, called Annex Chains, that are used to take the transaction burden off of the main blockchain of the network, increasing speed and allowing for B2B applications to maintain some transaction and data anonymity and privacy. FAB also runs a validation network of staked nodes, called Kanban, that validate the output hashes of the Annex Chains to ensure accuracy of the entire network and maintain decentralization.
This solution allows for large scale supply chain operations, B2B organizational structures, verticals, and B2C companies to exchange in a more secure way on a decentralized and public network with data transaction speeds greater than their average database provider, and money transaction speeds faster than Visa.
Why It Is A Winner
FAB is has a working mainnet and is almost 90% complete of the roadmap. After completing their hard fork in October 2018, the FAB network has added all the pieces to support scalable enterprise applications on the platform including:
- side chains for fast settlement, scalability and B2B security features,
- Kanban to act as a transaction validator for the side chains,
- Smart Contracts
- a new mining mechanism for fairer fees
Basically, a vast majority of the tasks laid out in the whitepaper have been completed, and the network provides a platform for scalable applications. All that is left for them is to build applications and APIs.
Currently in the works for the project is assisting their first main applications in getting off the ground. These include Artcryption, a network aimed at protecting intellectual property and art on the blockchain, as well as eXchangily , a next generation decentralized exchange.
eXchangily is the main project to look at, as it uses the properties of the FAB network to great length to provide an exchange platform with instant settlement, like a centralized exchange, decentralized trading mechanisms, and wallets with no private keys involved for the exchange or user.
Currently the FABcoin is quite cheap and held by smaller exchanges, but is going on OKEx is the near future. Additionally, the project had a small token generation event, focused most efforts on development before marketing, and has an ever-growing community- meaning the hype for the project is yet to reach it’s peak.
When it comes to crypto, projects like Ethereum or EOS with working technology always rise to the top, and FAB is one of them.
