Cryptocurrency market is growing fast with more and more new currencies emerging every year. 2017 was a very fruitful year too, with so many exciting projects appearing that it is difficult to keep track of them all. So let us take a closer look at the five most promising newcomers of 2017 whose positions are growing fast.
- Wings [WINGS]
- Gnosis [GNO]
- Zcash [ZEC]
- Golem [GNT]
- Stratis [STRAT]
Promising Cryptocurrencies in Detail
Wings. Appeared in 2017 and won a status of the most promising currency of the year. From January to June its popularity was increasing and decreasing and recently it finally has stabilized at a market capitalization of $56 million. With a principal place of business located in Switzerland, Wings suggests tools needed to establish and promote various decentralized projects. For project evaluation, it uses such instruments as smart contracts and forecast markets.
Gnosis. The company started in February and soon was highly demanded by the public. However, since May it has slightly backtracked and now settled at a market cap of around $295 million. Gnosis is built on Ethereum, a next generation blockchain protocol enabling sophisticated smart contracts. Its “crowdsourced wisdom” platform enables users to speculate on any future events and get financial rewards for correct predictions.
Zcash. Zcash is currently with a $378 million market cap. The cryptocurrency emerged in October 2016 for the first time, but popularity came not sooner than in March 2017. Zcash is the first open financial system requiring no permissions, and operating under zero-knowledge cryptography.
Moreover, Zcash encrypts the payment information and uses a novel cryptographic method to verify their validity. According to the developers, this allows all parties involved in the process to send transactions which are completely anonymous.
Golem. This one has reached a $400 million market cap which made it the 13th most valuable digital currency by the end of April 2017. Afterwards, its popularity leveled. Golem enables users and applications to rent out cycles of other users’ machines. Any user ranging from a single PC owner to a large data center can share resources through Golem and get paid in GNT by requestors. In other words, the idea behind this business is creation of the open-source, global and decentralized supercomputer that anyone can access.
Golem’s ICO became the second fastest in the history of cryptocurrencies with $8,6 million raised in only 29 minutes. The company has plans to become a huge global network, extremely powerful and totally open sourced. Golem utilizes an Ethereum-based transaction system to settle payments between providers, requesters and software developers. All computations take place in sandbox environments and are fully isolated from the hosts’ systems.
Stratis. Right after hitting the markets Stratis became a number one currency in April 2017. By the end of May, which is in less than one month, its market cap reached $1.070 billion. Stratis is currently amongst the top 10 cryptocurrencies on CoinMarketCap. Stratis allows companies to create private Blockchains which is of special convenience. These are realized in the form of sidechains being fully integrated with the main Blockchain Straits uses.