Here are Three Crypto Coins to Keep an Eye on in February
With the bear market being felt deeply in the crypto industry, it’s reasonably understandable to see investors lose interest. But, on the other hand, a bear market often proves to be an opportune time for coins to develop, and grow, not only their community but their technological developments as well. Thus, here are the three coins to watch for February 2019.
Zilliqa (ZIL)
Being able to scale without sacrificing decentralization, is the primary objective for most cryptocurrencies. And for Zilliqa (ZIL), it’s the primary goal. Zilliqa is known as the high-throughput blockchain platform. It emerged from a growing need to scale. After watching scaling problems with existing blockchains like Ethereum and Bitcoin, the Zilliqa team decided to develop a platform which worked to address the scaling issue. They use on chain sharding to enable many transactions to be processed on a smaller scale along the network. This resulted in Zilliqa being able to handle almost 3000 (approx 2828) transactions per second (TPS).
One of the reasons Zilliqa is a coin to keep an eye on in February is due to its upcoming mainnet launch. Though this is technically on the 31st of January, the repercussions of such a significant release will be felt during the following month.
The mainnet will launch with many novel features, such as a Practical Byzantine Fault Tolerance (pBFT) based blockchain. Byzantine fault tolerance is a type of consensus model which address the Byzantine generals problem, a universal issue experienced by all distributed networks. In short, inconsistencies, result in catastrophe. Innovative solutions, like pBFT, fight this issue by reducing the influence of malicious actors, or discrepancies on a distributed network. Moreover, PBFT adds finality, which means there is no need for confirmations and this creates
a faster transaction.
Another feature that will be implemented upon launch is safe, smart contracts. This will make use of Zilliqa’s self-developed programing language called Scilla. The language is not Turing complete, because of this it won’t support all applications, but since it’s ‘incomplete’ it means that it can be verified, validating smart contracts and making them “safe.”
Furthermore, dual & eco-friendly mining will go live with the mainnet. For mining, Zilliqa uses a special combination of Proof of work (POW) and pBFT. Using POW for approximately 1 minute, every 2–3 of any given mining cycle results in less energy cost. The combination of these two consensus mechanisms also allows for dual mining of any Ethash-powered POW blockchain.
ZIL sits at a current price of $0.020373
TRON (TRX)
Tron is positioning itself to become a global digital content entertainment system, competing with platforms like Ethereum to gain supremacy over the decentralized application market and eventually become a world leader in digital entertainment consumption.
Justin Sun is TRON’s CEO, and a powerfully loyal community backs the company, TRX has become one of the most popular cryptocurrencies in the industry.
Since the release of the Tron Virtual Machine (TVM), the company has gone from strength to strength citing a total of 142 Tron dapps, 6 of which are the top 10 dapps of all time. What’s more, the number of registered accounts continues to increase and currently stands at a whopping 1.42 million.
Tron had a big year in 2018 with the launch of its mainnet, and the TVM, to the $140 million acquisition of peer to peer file sharing network BitTorrent, and the subsequent initiation of project Atlas. Sun claims that the purchase will eventually make Tron the “largest decentralized Internet ecosystem in the world.”
The plan was to update BitTorrent for the crypto generation, tokenizing the platform through the sale of its token BTT. Tron benefitted from the migration of more than 100 million active of BitTorrent users over to Tron, and Vice versa. The project aims to incentivize file sharing on the BitTorrent platform through the integration of a new Tron based TRC-10 token BitTorrent (BTT).
February will be a promising month for TRON, particularly with the recent BTT token sale. Using the rights to BitTorrent, Sun introduced a series of periodic airdrops of the newly minted BTT token for all TRX holders.
The first of which will happen on February 11. The airdrop will be issued to any holder of TRX on a one to one ratio, i.e. for every TRX held, one BTT will be airdropped.
A massive 10.1% of the current supply of the BTT token will be airdropped in varying degrees up until 2025.
TRX sits at a current price of $0.027545
Binance Coin (BNB)
BNB is the native cryptocurrency of the world’s leading crypto exchange Binance. BNB offered early funding for Binance via its distribution in the ICO back in July 2017. Based on the Ethereum network, BNB is an ERC-20 token, which is presently most widely used for paying fees on the exchange. BNB will most likely be implemented into the company’s upcoming public blockchain, Bianace chain.
Announced back in March 2018, Binance Chain is as ambitious, as it is unprecedented, seeing the company acquire its own mainnet. Instead of running on the Ethereum network, BNB will function as a native token on its very own blockchain.
Binance chain could launch in February, with the company pointing to initiation at some point in Q1. As per the firm, Binance chain will move from being a company to a community
CEO of Binance, Changpeng Zhao aka CZ remarked that Binance Chain was both fast and less expensive than Ethereum. Zhao said that on Binance Chain users get one-second transaction confirmation and one confirmation is final, so it’s a much faster chain, and the transaction fees are less costly, there’s a lot of advantages for them to move to the Binance chain, which uses a native DEX.
The exchange also has a highly anticipated decentralized exchange. Binance DEX is set to launch in early Q1 of this year with CZ announcing that he expected the DEX to be ready by late 2018/early 2019 (so every reason to watch out for it in Feb).
The new exchange will boast a wallet where users can store any token they want to trade and will use BNB as a quasi ‘gas’ for transactions. Being a decentralized exchange, the Binance DEX will provide a high level of security with data spread across multiple points.
BNB sits at a current price of $6.11.
Learn more on Asgardia.Space
