5 Best Upcoming Cryptocurrencies to Watch in 2019 - Updated

  • Denys Serhiichuk
    📚 WikiCoin

    Almost every day new coins are being added on the Coinmarketcap. The list of coins is not limited to Bitcoin, Ethereum and other popular digital assets. Traders and investors are looking for alternatives to maximize their profits in 2019. We created the list of cryptocurrencies which are already widely discussed today. Hope you will choose the right one.


5 Best Upcoming Cryptocurrencies to Watch in 2019 - Updated
Contents

Today, in the cryptocurrency ranking on Coinmarketcap, more than 2,000 digital assets are represented. Of course, not all of them have real value and potential for further development. We cannot be 100% sure which coins will be profitable in 2019, as the crypto market is too volatile and unpredictable.

As we can see, the dominance of Bitcoin is starting to losing its grip tightness, creating space for altcoins to grow. In this case, what are the prospects for “young” cryptocurrencies in 2019? Let's try to identify the top five coins that should shoot up in the near future.

OmiseGo

OMG is the digital coin of the OmiseGO blockchain platform. The project is based on open source code. Developers initially focused on the creation of new tools to eliminate society's dependence on banks.

The OMG platform is designed to help conduct financial transactions, even for those people who live in countries with no traditional financial infrastructure in the form of banks. This service is the result of the development of the Asian company Omise, which is the leading payment provider.

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OmiseGo prospects for 2019

OmiseGo cryptocurrency project is a really interesting platform with good prospects for further development.

Once the official OmiseGo wallet is released, there is supposed to be a “bear” trend of this currency. After that, an influx of new users is expected, which will make the coin more stable. Despite the fact that coin’s chart still showing us downtrend, the project still has good opportunities to return to its maximum highs. It is predicted that by the end of 2019 the rate of OMG can grow to $15-20. Of course, such forecasts are overly optimistic, but if the Chinese government keeps improving regulations of the crypto market, then Omise may achieve such indicators.

Despite the fact that in 2019 that the price reached its historical minimum, the situation on the crypto market seems positive for Omise. Perhaps this is a reversal of the trend and Coin has a bright future ahead. We advise you to look at altcoin closely to buy it at the lows.

VeChain

It is a public blockchain ecosystem, the main task of which is to digitize all the data that is obligatory for a successful business. First of all, we are talking about establishing a decentralized database of products, as well as creating a platform for monitoring their quality and process of delivery. The project solves issues for the market of the Internet of Things, which is a trend nowadays.

The platform has already released its own blockchain, VeChainThor, and is working to improve it.

VET coin has become available for trading since August 3, 2018.  Nevertheless, we can summarize that the coin feels pretty confident in the market.

Growth factors:

  • Positive feedback from users

  • The platform has successfully completed the transition to its own blockchain

  • VET shows stability relative to other altcoins

  • VeChain has lots of serious partners who are ready to provide investments

ICON

ICON (ICX) is a blockchain platform designed to work with several different blockchains. In other words, ICON is a cross-chain solution that provides solidity for various blockchain projects. The implementation of ICON should improve the efficiency of the project's economy.

ICON ecosystem

Advantages of ICON:

  • Ensuring full universality in the system of interaction between the platform and users

  • The possibility of making modifications to smart contracts

  • The ability of quick transactions on the exchange

  • Fast information processing

  • Adaptability to working with artificial intelligence

The ICON project has official support from the South Korean government. This may be an indication that large Korean businessmen are seriously interested in the coin. Now a number of financial, medical and educational organizations from South Korea have begun to work closely with ICON in order to improve interaction with consumers. In addition, some other representatives of the business of this country and a number of corporations operating in the Asian market are showing interest in this project.

Now ICON is within the price of the bottom, but it does not seem like it will continue for a long time. The perspective of the coin, previous indicators, market sentiment indicates that $0.4 is a temporary value.

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Enjin Coin

ENJ cryptocurrency is a digital token platform for creating gambling applications. With Enjin Coin, developers can not only create virtual gaming products but also implement them. The project uses the Ethereum network,so ENJ tokens are in the ERC-20 format.

The biggest advantage Enjin Coin offers the gaming industry is the chance to set and manage virtual goods. Developers of any platform can easily create a currency designed exclusively for their community, which will be supported by Enjin Coin.

Each asset is kept in a single smart contract and registry, so all Enjin Smart Wallets can easily recognize it.

Enjin Coin ecosystem

If you look at the altcoin charts, it becomes a clear investor interest. In other words, Engine lives an active life. At the end of February, the active growth of altcoin began. And the gradual fall in prices may be the last good moment to buy before the explosive growth.

AION

AION logo

AION is a third generation blockchain digital token. The essence of such platforms is the creation of an ecosystem where various projects can interact. Roughly speaking, the goal of AION is to create an ecosystem for blockchain startups.

AION is focused on the following issues:

  • The formation of a new infrastructure ensuring the integration of existing blockchain platforms.

  • Using its own scripting language to enable users to create unique digital cryptocurrency projects.

  • The final stage will involve the completion of the cryptosystem optimization process and ensuring its full scalability to speed up the exchange of information between users.

In 2019, the implementation of the network infrastructure is planned to be completed, providing everything needed for fast, efficient inter-network communication and inter-chain applications. In addition, the focus will be on such aspects as:

  • Collaborative networking

  • Complete consensus validator assessment mechanism

  • Launch of the second version of Aion Virtual Machine

The prospects for AION in 2019 will directly depend on the continued relevance of the idea of ​​combining existing blockchains into a single platform. The project team is actively developing it, introducing new features and solutions. Despite the low price of altcoin, the tendency to increase prices is already visible. If the development will be successful, AION has all chances to become a hit already in 2019.

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How to choose the most promising cryptocurrency?

The answer is simple: they are always in the spotlight. They are discussed in the media, attracting the attention of large investors, companies, and corporations. Today, the product behind the name of a cryptocurrency project matters a lot. If there is a development, then it is fair to expect an increase in the price of this coin.

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Hyperledger — Open Source Blockchain Technologies

  • Denys Serhiichuk
    📚 WikiCoin

    Blockchain is not just cryptocurrency, it is the whole decentralized ecosystem. In this field, Hyperledger is one of the key players. Let’s understand how it works


Hyperledger — Open Source Blockchain Technologies
Contents

It is not true that blockchain is being used only in cryptocurrencies. Yes, this technology was first implemented there; however, now the range of its application has dramatically expanded.

Particularly in doing business, practical use of blockchain can minimize costs and time to solve many problems associated with the integration and automation of processes.

Having examined the company's business processes, you can identify dozens of cases using blockchain and implementing them in software products. Here are just some examples:

  • Data security - the blockchain allows you to create a document storage system in which all changes to the data will be saved.

  • Execution of obligations under transactions and transfer of ownership - the technology of the distributive register gives you a chance to manage a framework that monitors the progress of the contract conditions, and close it after making a payment or transferring property. This is the so-called smart contract.

  • Confirmation of decisions - you can create set up the system in such a way, so that decision-makers need to confirm the launch of specific processes. At the same time, you can make sure whether everything you need is available for launch and, if something is missing, do not put a signature.

Hyperledger is that kind of technology which was created to boost the implementation of blockchain on the new level.

Hyperledger: What does it stand for?

To begin with, Hyperledger is a comprehensive concept, however, it is none of the following statements:

  • Business (a company)

  • Digital Asset (cryptocurrency)

  • Blockchain

Hyperledger is something like a center point for the open improvement of industry blockchains.

In general, it is a joint open source project created to develop and promote new technologies to a mass user through the implementation of the functions necessary for an open, inter-branch standard of distributed registries. The platform includes people from the whole world, and the company itself is an international project which deals with the leading companies in the following spheres: economic, finance, IoT (Internet of Things), logistics field and manufacturing.

Hyperledger logo
Image by Hackernoon

Hyperledger neither supports nor promotes Bitcoin (BTC), Ethereum (ETH) or any other coins or token, but the platform operates with the blockchain technology as a whole vast ecosystem. The founders of Hyperledger repeatedly emphasized that their project is not an ICO, and they do not have any intentions to release their own cryptocurrency. It is a technological platform for the implementation of blockchain and intelligent contracts known as smart contracts in the business. Hyperledger participants develop projects specifically as information technology.

At the core of all projects is a modular structure, which allows you to add or remove the necessary modules depending on the users' queries.

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History of the project and its team

The announcement of the creation of the Hyperledger project occurred at the end of 2015, while the final version of the board and the team of founders were presented in March 2016. At the moment, the governing board comprises of twenty one individuals led by Blythe Masters.

A committee of leaders is the executive branch of Hyperledger, which includes more than 10 members, most of whom have gained vital skills while working in several industries. Moreover, there are also professionals from technological companies, such as IBM and many other IT giants. Members of Hyperledger are professionals in their field, for instance, Richard Brown and Tamas Blumer have lots of skills in blockchain while assisting companies in introducing new technology in their businesses. For these participants, Hyperledger provides not only technical background and software of blockchain structures but also various contacts with prominent figures in the industry.

Currently, Hyperledger members are a large number of reputable companies from around the world, many of which occupy leading positions in their respective industries. These are technological
giants like Airbus and Daimler; IT clusters including Intel, IBM; mobile phone developers, such as Huawei and Samsung; financial and economic enterprises in the ranks of American Express; and one of the largest banking institutions, J.P. Morgan Chase.

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Hyperledger targets and goals

The founders and leaders of the project are sure that the Internet in general, and blockchain in particular, are those breakthroughs that can significantly reshape our future and the way we live now.

Blockchain opens up tremendous opportunities for creating transparent, protected from falsification, business processes, legal documents, and financial transactions.

According to the developers and analysts of Hyperledger, the markets have long needed tools that can make it easier and cheaper to exchange data, conduct financial transactions, registration processes and other integral components of management and business. The blockchain, based on open source and decentralization, can satisfy this request for transparency, credibility, and durability.

Overall, the final aim of the Linux Foundation project is to coordinate the activities of stakeholders, software developers and companies belonging to various industries on one platform, as well as to promote the development of inter-sectoral cooperation:

  • In the finance branch, the use of this technology can help to simplify calculations, improve liquidity, increase transparency and develop new goods and markets.

  • In the medicine, the use of blockchain technology helps to unify disparate processes, increase the processed data flow, reduce costs and improve the quality of patient care.

  • In the logistics and delivery system, it allows you to track the order of supply of goods, sources of origin of products, ensuring their authenticity, blocking fakes, reducing conflict situations.

To put it briefly, the Linux Foundation project is about the coordination of stakeholders, software developers and companies belonging to various industries on the same platform, and also promotion inter-sectoral collaboration.

Officially, the goals and objectives of Hyperledger are as follows:

  • The creation of a database on the basis of the distributive technology to support transactions made by business entities.

  • Providing neutral and transparent infrastructure to satisfy community needs run by technical and experienced management staff.

  • The creation of a professional community who are eager to improve blockchain and the distributed databases.

  • Educational work on blockchain technology market opportunities.

  • Promotion of community ideas and compatibility of tools with other platforms.

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Features of Hyperledger technology

Now, let’s take understand what preferences the platform offers:

  • Hyperledger allows you to create a private rather than a public blockchain.

  • No need for mining and issue of tokens. Inspecting nodes independently notify each other about the operations, reach consensus and create new blocks.

  • Flexible configuration of access rights to the network, the ability to create private systems for getting access blocks – outsiders will not be able to get data from them.

  • Confidential transactions are available for viewing only to selected users who have the necessary encryption keys.

  • Large selection of available programming languages: C ++, JavaScript, Python, Golang, Java.

Hyperledger can be used to create a general-purpose blockchain while competing solutions are designed for specific tasks:

  • Ripple - the organization of payment systems.

  • R3 CEV - traditional transactions and agreements.

  • Ethereum - the creation of a virtual machine for smart contracts usage.

Hyperledger Frameworks

Hyperledger frameworks

All projects are based on a modular structure that allows you to add or remove necessary modules depending on user requests.

Hyperledger Sawtooth

Sawtooth technology is an innovative modular platform for making, utilizing and running distributed registries. The focus is on flexible use in various business areas. The platform supports custom data models for taking snapshots of the current state of the log, transaction languages ​​for changing the state of the registry, and consensus methods for confirming transactions.

Sawtooth uses a new concept called transaction families. Sawtooth users can create their own specialized “family of transactions” with unique data models and transaction languages. To facilitate initial use, Sawtooth offers three built-in transaction families that implement the most common usage scenarios and provide a registry ready with a fully functioning marketplace for digital assets.

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Hyperledger Sawtooth peculiarities

  • The implementation and usage of smart contracts to automate business procedures and vote on changing the configuration of the blockchain (for example, to add new members and smart contracts).

  • Advanced transaction execution engine, which provides parallel processing of transactions to speed up the formation of blocks and their verification.

  • Support for integration with the tools of the Ethereum platform and the ability to run third party smart contracts.

  • The ability to update or replace the consensus building protocol as the distributed network grows. For example, you can switch to more scalable consensus calculation algorithms as they appear.

  • The possibility to create and smart contracts using a variety of methods (programming languages), including Go, JavaScript, and Python.

Hyperledger Iroha

The project was mainly developed by Japanese firms, particularly Hitachi and Soramitsu, as they contributed a lot to its creation. The final goal of the platform is to develop other Hyperledger frameworks, such as IBM Fabric and Intel Sawtooth Lake.

Using Iroha, business corporations can create and manage regular digital currencies, such as different coins or tokens, or complex assets – certificates, patents, and other documents confirming intellectual property rights.

Typical examples of using Irohi include the following operations: the platform allows you to create documents proving the identity and authenticity of diplomas issued to individuals by universities and institutes.

Furthermore, on the Iroha ecosystem, various digital avatars (graphical portrayal of the client or its character) of real assets can be created with low transaction commission or even without any fee.

For example, the owner of an old car can create a digital asset and then register the ownership of it with several account signatures. Once another party is interested in this offer, it accepts the proposal, completes the transaction through the currency transfer to the current owner and receives ownership of the car.

One more area where Iroha functions can be used is identity management for Know Your Customer (KYC) requirements, which are already obligatory in many projects. Clients do not need to submit documents as it usually happens in most projects. Instead of this, they can create the necessary identification in the chain of nodes to which the various qualifying institutions who follow the KYC procedure can apply.

Iroha provides fast service, as well as a comprehensive combination of code libraries for IT specialists to create reliable application development, protected monitoring, management of assets, and modular design architecture to boost the blockchain ecosystem to a new level.

Iroha is different from other widely used blockchain-based projects such as the world’s top cryptocurrency Bitcoin and its rivals Ethereum or Ripple since the last ones operate as diskless registers that allow you to join and provide access to any network platform.

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Hyperledger Burrow

Intel and Monx developed Hyperledger Burrow five years ago, in 2014, the main idea of which was to release a project for the needs of commercial companies, so that they could join the benefits of smart contracts.

Barrow is a code based on the Ethereum platform, which provides a first-of-its-kind client blockchain module with an interpreter of smart contracts.

The Chief Executive Officer at Monax, Casey Kuhlman, believes that thanks to the Burrow project,  companies will get a chance to create apps with a wide range of functions and potential services which are not easy to incorporate into platforms that are not related to smart contracts.

What is crucial is that Burrow is expanding the list of its strategic partners, and one of the most vital allies is the Ethereum team of developers, including specialists from the Enterprise Ethereum Alliance (EEA).

Hyperledger Indy

Hyperledger Indy is a distributed registry used for decentralized identification. It is an accumulation of instruments, libraries, and reusable components for establishing and implementing independent decentralized digital identifiers that are compatible with various administrative domains, applications, etc.

The Evernym team startup blockchain-identity launched the project in early 2018 against the background of the unceasing scandal associated with the leakage of Facebook user data. The Hyperledger Indy code, like the other projects of the consortium, is made publicly available on GitHub.

Hyperledger Fabric

Hyperledger Fabric is the best structure for creating programs and specialized business arrangements based on blockchain.

Hyperledger Fabric is the basis for decentralized systems, where all clients have identifiers. If you want to implement a decentralized network, one should figure out if your company needs an idea to utilize a chain to comply with data protection rules.

The greater part of Hyperledger Fabric in the financial and human services branches sectors are subject to data protection laws. In addition, the project was launched by the company for organizations, so the entrance is “permitted by ticket”. The network member must acquire a certificate and be identified; however, different participants may be granted different rights, limitations, and benefits.

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Ethereum or Hyperledger Fabric: What to choose?

To get better acquainted with the features of Hyperledger Fabric, you can compare it with the Ethereum network. The peculiarities of Ethereum are decentralized programs (applications or dApps), smart contracts and a public blockchain. Altogether, they are aimed at meeting the consumer demand, or the so-called B2C marketplace.

Meanwhile, organizations willing to develop blockchain applications with solid help for confidentiality and decentralization are guided by Hyperledger Fabric. It works best for developing chain-prepared blockchain-based programs, the creation of intelligent contracts (smart contracts), supporting security guidelines and consent. Fabric's modular design offers adaptability and is centered around enterprises that want to streamline their work process using innovation in blockchain.

Hyperledger, in cooperation with its partners, mainly operates with transaction-based applications. Despite this, Ethereum also focuses on corporate clients. As an example, we can look at Quorum, which is made and operated by J. P. Morgan. Quorum is an allowed Ethereum-based product; this is what is called the fork of the Ethereum open blockchain.

The Ethereum Enterprise, which was launched at the beginning of 2017, includes more than 20 companies from the Fortune 500 list, as well as ventures, innovators, technology providers, and Ethereum specialists. Among the most prominent members are IT clusters Intel and Cisco, consulting company Accenture, and automobile giant Toyota.  

Hyperledger tools

Hyperledger has a few application projects whose purpose is to make the access to the development of blockchains simpler and more productive.

IT specialists predominantly use tools, while the projects themselves are used regardless of the company's specialization.

Hyperledger tools

Caliper

Hyperledger Caliper is planned to test the blockchain, which empowers you to evaluate the execution of a particular system. The Caliper can generate reports containing performance indicators, for example, TPS (transactions per second), transaction latency, asset usage, etc. The purpose of developing this tool is to enable users to evaluate and select a specific project taking into consideration specified parameters.

Hyperledger Caliper was represented by IT specialists from Huawei, Oracle, IBM, and many other influential players in the technological industry. Educational institutions, such as the Hungarian University of Technology and Economics, also played an essential role in the development of Caliper.

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Cello

This tool supports a set of networks on top of various infrastructures, such as bare metal and other container platforms.

Hyperledger Cello aims to popularize its system to a user, so customers could join its benefits, such as the reduced effort required to create, manage, and terminate the chain.

Composer

Hyperledger Composer is a kind of hub with an open set of tools for the easy use of the blockchain. With this platform, blockchain technology can be easily integrated into existing business systems.

This is a tool for creating blockchain and smart contracts for business, enabling you to create your own applications over Hyperledger Fabric.

Explorer

Hyperledger Explorer is a tool for researching the blockchain developed by consortium members designed to create user-friendly web applications. Using Explorer, you can view all the information stored on the blockchain: transactions, blocks, as well as any other data stored in the ledger. This tool is in the incubation stage.

Quilt

Hyperledger Quilt provides interoperability between registry systems using the Interledger (ILP) protocol, which allows an unlimited number of transactions between different registries using cryptographic escrow and a specialized two-phase acknowledgment protocol.

The Interledger protocol allows you to connect different blockchains using atomic swaps. This tool is in the incubation stage as well.

Ursa

This is a modular cryptographic library, which is intended to give designers a solitary blockchain security toolbox.

The project ought to prevent a waste of time arising from working on duplicate solutions, as well as increase security by simplifying the analysis and contracting the probability that less experienced clients create in their own risky implementations.

It is likewise accepted that Ursa will give a specialist evaluation of the full cryptographic code and improve cross-stage similarity since the projects will utilize a standard library.

The library is partitioned into 2 small divisions:

  • The first one is about simple, standardized, modular cryptographic algorithms.

  • The second is unusual to a certain extent. Examples of it include, for instance, SNARKs and aggregated signatures.

The Ursa code is written primarily in the Rust language, but the software will operate as well with all languages widely used in Hyperledger.

Z-Mix

It is an affiliate project of Ursa that adds support for specific cryptographic algorithms, such as SNARKs or aggregated signatures.

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Implementation experience

Large companies successfully use Hyperledger in their products.

  • The Visa payment system uses Hyperledger Fabric for B2B Connect's corporate transaction service in order to prevent fraud and speed up transactions.

  • Japanese technology giant Hitachi introduced a method for making payments and activating coupons with a fingerprint based on Hyperledger. A distributed registry verifies such transactions.

  • Oracle uses Hyperledger Fabric distributed registry capabilities for supply chain management.

  • The IBM Watson IoT service provides developers with a toolkit for building IoT applications.

The number of projects for medium and small businesses is growing every day, and this technology finds its practical application in various areas: economics, logistics, medicine, retail, and construction. Evrone has applied Hyperledger’s open-source solution to developing blockchain projects: the trading bot Crypton and Trustlogics.

The bottom line

Blockchain technology is capable of completely changing the work of enterprises if it is used in large quantities and in full.

The Hyperledger platform is indispensable for companies that want to minimize time and money, and make their products and services more attractive, reliable and safe for the end customer.

Of course, we are talking about large corporations operating around the world. But do not forget about small and medium businesses. The Hyperledger blockchain will also be useful for them as a strategy plan for developing the company and making effective decisions.

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