What makes a blockchain succeed? If we look at why cryptocurrency has gained its popularity since the advent of Bitcoin in 2008, we see that it is all about innovation. The vision of an altcoin gains the attention of the public more than a nifty name or profit potential. The cryptocurrency to watch is the one who has not strayed from its conceptual plan to improve the way blockchains function in the real-world. These three cryptocurrencies are taking the Ethereum blockchain and building upon it to create the technology needed for the future of a peer-to-peer economy.
A third-generation blockchain launched in October 2017, Aion aims to connect a network of blockchains to integrate a federation of cryptocurrency markets.
Blockchain Technology: Aion-1 is a public-based blockchain that uses a multi-tier network so that unfamiliar chains can communicate with one another all on-chain without security or scalability issues. The system would create a global interface with third party hubs used as bridges to translate and approve messages and transactions from one blockchain to another.
Real-world Application: By creating an on-chain network of blockchains, cryptocurrencies of varying industries can avoid insecure off-chain transactions and high fee, slow transfers of cryptocurrency exchange options. It would also increase the potential of altcoins as a decentralized economic force as it would allow users to transfer coins based on their financial needs without jumping through the hoops of fiat exchange rates.
Market/Exchanges: Aion is available on Binance and several small exchanges. The coin has had a steady growth rate, leveling out at around $3.00 with a peak of almost $11.00 in mid-January 2018. Currently, its value is up 9.91%.
Chance of Success: With a strong social media presence, a large marketing and engineering team and a growing list of partners like WanChain, Bancor, and Icon, Aion has a lot of potential to succeed.
Developed in May 2017 based off of Ethereum’s technology, Wings has created an incubator platform for cryptocurrency democracy. It involves a DAO (decentralized autonomous organization) community that supports altcoin innovations.
Blockchain Technology: Combining user knowledge and intuitive tools called Swarm Intelligence, the platform’s algorithm uses statistical data to develop an accurate picture of success.
Real-world Application: Using a reward incentive for predicting correct behaviors and outcomes, the Wings community can submit and predict potential proposals while weeding out unworthy offers. This platform has the ability to remove traditional ICO scams and create a governing body in which new technology can hit the crypto market quickly and efficiently.
Market/Exchanges: Just like most cryptocurrencies, Wings took a dip in the market after it surpassed the $1 threshold in December 2017. Since then, it has fallen in the $.30 to $.40 range over the past few months but is currently up 4.4% at a steady $.50. You can find Wings on top exchanges like Binance, Bittrex, and HitBTC.
Chance of Success: It’s effective reward system alone is appealing to those who want to gain access to an up-and-coming concept. It has all the characteristics of a decentralized, public medium where cryptocurrency is run by the people not the wealthy, so it is attractive to the crypto ideology. It also has a large social network and dozens of projects already funded. It is still technically in its beta phase, so it will be interesting to see how far they can go.
This Australian-based coin initially launched its concept of energy sharing using cryptocurrency in May 2016. Since then, Power Ledger has been planning to restructure a monopolized, profit-driven market by turning it into a decentralized, citizen-controlled network of sustainable, globally-accessed power.
Blockchain Technology: Piggy-backing on the renewable, self-generating energy revolution of DER (Distributed Energy Resources), the platform rewards individuals who provide their power surplus to the network. Smart contracts ensure safe and direct transfer of power using a Sparkz token that represents the international fiat currency of the trade.
Real-world Application: Instead of large companies distributing energy, this platform would create a transactive economy of trading rather than selling. Energy sources would be diverse and regulated through a need-based system. This would open up access to cheap power sources across the globe and put the way we process energy into the hands of people.
Market/Exchanges: After its $1 surge in December 2017 and January 2018, Power Ledger has fluctuated in the past two months. It is beginning to even out and increase again to about $.43, a 5.41% rise. Exchanges offering POWR include Bittrex, Binance, and Upbit.
Chance of Success: It has a supply of 365,894,076 POWR to which it gained during an airdropping launch to early applicants. They also raised $34 million from their ICO last October. In March, they partnered with Greenwood Solutions, a solar panel installation company that will set up panels and hook people into the Power Ledger network. Their beta testing for open applications will begin in the last quarter of 2018. Given the investment made, support given, and popularity of the rise of self-sufficient energy, Power Ledger seems destine to prevail.