Cryptocurrencies, Ethereum and The Future

The use of Ethereum in the crypto chain has been monumental, From the initial rise of ICOs to the growth of DeFi, it has become a leading bulwark. Here is the pathway to the future.

Cryptocurrencies took the world by storm in 2017 when Bitcoin reached an ATH that tethered at the $20,000 mark. Ever since, the market has posted some amazing ROI that has left other asset classes scrambling for cover.

With the initial mad rush to take a cut of the bitcoin pie simmering down by nid-2018, investors did begin to explore other crypto with potentials, While ETH was also affected by the downturn that hit the crypto market, other initiatives led to the development of DeFi markets, which largely revolved around Ethereum at the time.

In a factual assessment, with its smart contract features, Ethereum largely led the way for real world assets to be tokenized although that glaring advantage has taken a hit of late. The likes of Cardano, Tron, Stellar, and Ripple have introduced smart contract features that are giving Ethereum platform a good run for the DeFi money.

If you want to thrive in the modern market, you should familiarize yourself with the features of Ethereum that have helped positioned it a leading cryptocurrency and a global digital market frontline asset.

Also Read How Chainlink Connects Smart Contracts To The Real World And The Opportunities Therein

About Ethereum

Ethereum can be referred to as a modern technology covering vast online activities and trading. Ethereum is an online platform that aids payments and transactions globally. It provides an avenue for everyone to work online and earn money.

Ethereum has made transactions globally easy as it covers and accessible globally. All transactions and payments will be made online with ease and no third-party issue. All that is needed is to register on the platform, secure your wallet, fund it and transact with precautions. Ethereum service is also available 24/7 customer support service if you have any issues. 

Perks of Ethereum

This crypto provides an unbiased and equal opportunity for everyone. Being on the platform and obeying rules makes you entitled to benefits and profits concerning trades and activity. 

It serves as a modern avenue for online development and financial breakthrough. Ethereum provides a transparent, open-source service that allows you to monitor your activities and use strategies or codes used by pros on the platform. 

It makes investments much more effortless. Ethereum serves as your bank, your secured wallet, which can be accessed and used for any transaction anytime, anyway. 

It is available in any quantity. You can purchase Ethereum worth any value of money you have for small investors or beginners.  

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A Guide on how to get started on the Ethereum platform. 

After registering on the platform, here are the basic things you need to do. 

Select a wallet. This wallet connects you to trading on the platform and keeps records of your transactions. 

Fund your wallet. The currency of Ethereum is ETH, as the US currency is Dollars (USD $). This currency will be exchanged for any transaction with any currency on the platform. This is like a balance to avoid confusion and currency preference. 

Start trading on the platform. This is essential to make profits and key to your financial breakthrough. 

Frequently Asked Questions About Ethereum and its Future

Is it feasible for Ethereum to reach $2000? 

Generally, every cryptocurrency is not fixed; hence rise and fall in their price. Ethereum has once been valued at $1400, though fallen now but very much feasible to exceed the $2000 worth.

Is Ethereum better than Bitcoin? 

With the recent rise in Ethereum value, it is safe to choose Ethereum over Bitcoin in terms of its usability, beyond just as a crypto. Its blockchain value is growing.

Ethereum is the future, and this can be seen from the expanding use it has seen in the DeFi game.

Conclusion

Ethereum is a leading crypto with clearly marketable credentials. With steps taken to re-imagine the blockchain and make it nimble and responsive to marketplace realities, there is no doubt that it is not giving up its market lead so easily.

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Leading Reward Tokens That Rule The Crypto Space In 2020

Reward tokens are awarded in the crypto space by platforms as an incentive to patrons. Here is how the market leaders have fared so far in 2020

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Crypto Reward Tokens: Which platforms perform best?

The advent of DeFi automated exchanges has brought new ways to invest and earn money with cryptocurrencies. Being already interested in investments of the sort, many crypto adopters have rushed to these – particularly those programs where money can be earned by just parking your crypto in a particular exchange and  in return, you earn a reward.

These tokens, often thought of as crypto reward tokens, are currently being advertised as great investments, since they’re low-risk propositions. They’re also helping to build the backbone of a global working blockchain economy that could eventually rival, or even replace, our current, banking-based economy.

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How do they work?

As stated above, crypto reward tokens work in much the same way fixed-term deposits and savings accounts work with traditional banking. You give the bank (or in this case the DeFi exchange) your crypto tokens, it is to fund loans, and you get a percentage of the interest back after some time. There are no fixed terms, so your crypto isn’t stuck there – however, the longer it remains there, the higher the earnings you get in return.

That sounds good. Can I do this with any tokens?

Not with just any token, since you’ll have to use tokens that are supported by your platform of choice. While in most cases this means Ethereum-based tokens and stablecoins, some platforms do allow external tokens.

Still, there’s nothing keeping you from participating using one token and then converting the earnings to another, so if it’s plain earnings you’re looking for, then the lack of support for your token of choice shouldn’t be a problem.

Which ones are the best performers currently?

While there are dozens of possible offerings, each with its own pros and cons, and while it’s impossible for there to be a single one that’s best for everyone, we have reduced our list to three main tokens you should look out for and consider: Nexo, Celsius, and Crypto.com. The reasoning for our choice is as follows:

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Core Features

The more features and services an exchange offers, the more likely it is to succeed in the long run. For reward tokens, this means more users, which leads to higher, more regular earnings.

Out of these three, Nexo is the one closest to a standard banking operation – as it is both licensed and regulated. It is backed by Deloitte, giving it the much-needed industry approval. Its main offering as a platform for customers is both savings accounts (that net you rewards) and a loaning platform. Interests are given daily and all transactions are insured. Nexo supports fiat currencies, and a few other exchanges do. same

Celsius offers much the same as Nexo, although it isn’t as tightly regulated. Celsius also offers their loans without requiring credit checks, which expands its audience at no risk to you, as all loans are insured. Interests from Celsius are awarded weekly.

Crypto .com also offers savings accounts and loans. However, their main draws are support for a large range of currencies and, more importantly, its crypto-backed debit cards that allow you to make purchases using your saved cryptocurrencies without having to go through exchanges.

Safety Features

Wherever money is handled, safety is paramount. While all three of these exchanges are considered safe, their features vary.

Nexo insures all wallets for up to $100m. Moreover, deposits are kept in cold storage under a third-party custodian, as per EU/UK regulations. Its security and management systems have been heavily audited and are considered top-of-the-line.

Celsius, like Nexo, has all wallets insured and kept in cold storage by a custodian – BitGo, the same one behind Nexo. Its mobile app offers two-step authentication. There’s no web app to speak of.

Unlike its other two competitors, Crypto.com doesn’t list third-party insurance or custodians among its features. However, the company and its holdings are insured by the FDIC and all user deposits are kept in cold storage.

Ease of Use

This is the point where there’s more variation among all three companies. Although ease of use and access should be paramount, it’s common for crypto-based companies to sometimes falter in this regard.

While Nexo offers both web presence and a mobile app, there’s no way to buy or exchange cryptocurrencies from it – with the app serving mostly as a tool to check what you already have there. It is generally simple to use and has support for different types of accounts, including business ones.

Celsius has no web presence whatsoever. It also only offers its highest interest rates if you choose to be paid using its own cryptocurrency, which can be problematic for some users.

Crypto.com, for all of its available services, has one flaw: Not all territories are supported. Most particularly, the crypto exchange and credit lines aren’t available for US residents (however, the crypto-backed debit cards are.)

Recent Performance

Since it’s not uncommon for exchanges to offer their best rates if you allow them to pay you using their native cryptocurrencies, the recent performance of said tokens is an important metric to consider.

Nexo’s performance on this regard has had its highs this year, and few lows. While the price of the NEXO token is only 30% higher than back in January, over the year it has seen peaks that have led it to over 100% ROI vs January. It also hasn’t seen huge lows – meaning it’s a relatively low risk currency.

Celsius is easily the biggest performer among these three. The CEL token has gone from $0.14 at the beginning of the year to an all-time high of $1.43 as of this writing – reporting a 1000% price increase. It’s hard to argue against a performance like this.

Crypto.com’s performance is close to that of Nexo, in that it’s had a few highs (none as high as Celsius’) and few lows. The MCO token did have a sharp price drop during March, but it recovered quickly in a bull run that had the token go from roughly $2.5 to $5.5 within a month. Its price as of this writing sits roughly 30% higher than in January.

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In Rideshare Disruption, Here Is How Cryptocurrency Payments Can Boost Local Economies And Make The Greater Good Possible

Rideshare is becoming the norm in many parts of the globe. It is a chance to promote the greater good in local communities. Here is how this can happen with crypto payments

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When blockchain appeared nascent, not many people gave it a chance to make a difference. However, keen tech watchers knew that like the Internet, it was sure to stand the test of time. Cryptocurrencies have emerged as a major face of what blockchain tech can do.

Utilizing the idea of crypto payments for rideshare is basic. One great side to crypto adoption is the inevitability of decentralization. To couple the benefits of breaking down centralized systems in transportation and payments for services can be a game-changer.

How Rideshare tech works

Open the application and press the find button to locate a driver. Drivers in the zone will get a notification, and when a driver acknowledges, the rider and the driver can be linked up using the Geo-find feature.

The success of a rideshare innovation is such that municipal governments, businesses and individuals can leverage it for the betterment of the local economy. Employment opportunities for the people in the locality can be boosted and productivity will be on the upswing.

Be that as it may, paying with cash could sometimes be a limitation., as it does not offer the sort of recognizable proof confirmation that other methods offer. Also carrying cash around might be dangerous due to the crime rate in the area. Due to this factor, the rideshare can get integrated into the blockchain innovation.

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Why an outright prescription in payment method could be a limiting factor in some areas, the open customizable nature of blockchain tech allows for preferences.

The developments along these lines shows that forerunners in the rideshare business are losing out in market share for far-flung areas by centralizing operations in cities. Therefore, local organizations and companies can explore options so that ride share be accepted globally beyond (beyond city centers.)

The above is a win-win situation for everybody such that the rideshare companies make more money, and it helps in the ease of transportation within those areas, also providing employment opportunities to people of the region.

Business and Social Boost

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Utilization of blockchain innovation is for all intents and purposes necessary in the use of rideshare apps, and it is extremely positive to see a few organizations attempting to induce this idea into their various plans of action. Some of these have already started seeing the positive side of this blockchain invention in their ride-sharing application. The ride-sharing economy is increasing rapidly and consolidating intense types of innovation which will prompt future advancement.

With regards to understanding the idea of ridesharing, the essential objective is to reduce the number of vehicles on the road. As opposed to including new vehicles on the streets. Some of these organizations hope to benefit as much as possible from the operating system of ridesharing and are also looking at how they can benefit from blockchain-based rideshare apps. 

Rideshare organizations like Uber and Lyft are handling this issue also, although they are in full control of the clients. But for clarity, it is necessary to understand that an open-source innovation is viable. This will help to increase their appeal to the public and give people an edge with the many possibilities of blockchain technology.

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Better Credibility

Decentralizing transportation is not an amazingly easy task, but the presentation of blockchain innovation makes a lot of difference. The consideration is beyond the ease of settling cost by individuals, and as credibility is boosted considerably.

An area of benefit is that this development would encourage record keeping in transactions that are being made, thus encouraging transparency among the drivers. Furthermore, the appropriated record innovation would enable the organization to take correct payment percentages from their drivers.

It is sure that these ridesharing companies would make more money wherever they choose to operate. Also, companies can avoid claims of driver exploitation as both parties would have relevant records and receipts to fall back to in the case that this leads to a legal issue.

Better Employment Numbers

Another advantage of this in all regions of the country is that most drivers are scared to work in regions that are dangerous and known for the high crime rate. But once the rideshare app is being incorporated into the blockchain, it would limit the amount of cash that a driver would have in hand, hence it would discourage criminals from trying to rob the car.

Last Words

The basic idea behind crypto payments for rideshare is that non-cash payments is less prone to theft. On the flipside, once ridesharing is decentralized, the regions of high crime rate may experience a reduction in crime rate. This basis for this optimism is that some criminal activities are caused by lack of adequate employment in the area.

With the decentralizing of rideshare, this would give employment opportunities to the people that stay in these regions. This is an especially important advantage of the global acceptation of ridesharing.

Must-Read: Why Supporting a Local Economy is a Boost For Entrepreneurial Efforts

3 High Performing Cryptocurrencies To Look Out For in 2020 Q4

The crypto market is in a spring right now, and here are three high-performing tokens to watch.

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So far, 2020 has been a year of ups and downs in the financial market, especially since the advent of the coronavirus, with stocks jumping all over the place. Cryptos have also had their fair share and are in no way left out. Regardless, the financial market ecosystem has continued to seek out alternative liquidity investment plans and are rapidly turning to high performing cryptos and stocks.

In this guide, we’ll examine three (3) high performing cryptocurrencies, their market value and activity, historical performance, and what to expect in the remainder of 2020. Without much ado, let’s get started.

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Cosmos

Cosmos (ATOM) is simply a double-layer network that comprises of a lot of independent, yet interoperable blockchains referred to “Zones” which operate based on the Byzantine Fault Tolerance (BFT) consensus algorithm. It facilitates the exchange of assets, tokens and data between blockchains.

  • Historical Performance

At the start of 2020, Cosmos had a market cap of $802.5 million and an average market price of $4.3. At the time of writing (August 31 2020), it’s now ranked 19th with a market cap of about $1.18 billion, a market price of $5.7, and a 24-hour trading volume of about $321 million. That’s a 47% growth in market cap and a 32.6% increase in market price over 8 months.

  • Core Area of Usefulness

Cosmos partners with OmiseGo, IRIS, Loom Network, FOAM, Theta Toe, etc. to provide solutions to blockchain scalability, sovereignty and complexity.

   

  • What to Expect

Cosmos has an average market cap of about $1.2 billion, and a surge is expected in the nearest future. Based on trends, crypto enthusiasts can expect Cosmos attain a market price of $10 by December 2020.                                                                                                                                                                                                                                                                                          

VeChain

VeChain is a blockchain-based crypto platform specifically designed to enhance business models and supply chain management with the aid of DLT. It aims to champion a distributed and trusted business ecosystem that ensures greater transparency in the flow of information, an ultra-swift transfer of value and efficient business collaborations. This project has numerous practical examples and is highly appreciated and recognised by Deloitte, BMW, PICC, PwC, H&M and lots more.

At the turn of the year 2020, VeChain was ranked 30th with a market cap of about $332.4 million and traded at $0.005643. Fast forward to today, it ranks 21st with a market cap of over $1.1 billion, and trading at an average $0.018553. That’s a bullish 258% growth in market cap and 228% surge in market price.

  • Core Area of Usefulness
  • Automobile data tamper-proof – Renault and BMW are currently partnering with VeChain. Data such as driver’s habit, repair history, registration, and insurance are made immutable.
  • Product Anti-duplication: this is executed with the aid of smart chips which ensures that products are not adulterated. Certain luxury brands have already signed up for this.
  • Cold-chain logistics via IoT sensors that automatically interface with the blockchain.
  • Carbon Credits: carbon emission tracking and rewards schemes for friends of the earth.
  • Provide solutions to the traceability of digitalized clinical trials.
  • What to Expect

The surge in the market activity and demand for VeChain is driven by its integration of IoT into supply chain management models. According to cryptoground, VeChain is expected to attain $2.58 by December 2020, although a little unrealistic.

To attain the $2 mark, VeChain would have to match Bitcoin’s market capitalization – that’s a difficult one. However, a more realistic prediction would peg VeChain at about $1 by the end of the year.

Chainlink 

Just like the two cryptos mentioned earlier, Chainlink is also doing exploits, and it has achieved new market prices multiple times already in 2020 – its token is LINK.  A Chainlink solution, Oracles, make it possible to aggregate real-world data, payments and events into the blockchain as smart contracts. Plus, this project finds application on DeFi platforms and is gradually making waves in the pharma space.

  • Historical Performance

As the time of writing, Chainlink is ranked 5th with a market cap of over $6 billion, and a 24-hour trading volume of over $1.8 billion, according to coingecko. Chainlink started at $1.8 in January 2020, with a market cap of $642 million, but today, it’s trading at $16.7 – that’s a bullish 828% rise in market price.

  • Core Area of Usefulness
  • Retrieval and verification of external data on smart contracts and blockchain network.
  • Decentralized Finance (DeFi) platforms
  • What to Expect

Price predictions are becoming a bit more difficult, especially with the look of the financial market. This might be different for Chainlink as it’s already outperformed several predictions this year on many occasions, and is currently trading above the $5-10 mark forecast.

According to an AI-enabled algorithm from Crypto-Rating, Chainlink is predicted to trade at about $20 by the end of 2020, towards the turn of 2021. This is pretty much realistic and it an only get better with this project.

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Disclaimer: This is clearly the opinion of the author and not a piece of financial advice. Endeavour to dig deep before you make any investment in cryptocurrencies.

As The Crypto Spring Becomes Evident,Here Are The Top 3 DeFi Leaders In H2 2020

The reign of DeFi has translated to more money in the hands of crypto hodlers. Here is how you too can join the rave.

The decentralized finance (DeFi) market has experienced a massive growth over the last several months. Anyone following blockchain trends will likely know that ICOs are a thing of the past. Now, it is all about DeFi projects.

DeFi pulse statistics shows that the sector’s total value locked (TVL) is currently at $6.71 billion and grows by $500 million weekly. This is massive growth from the previous month with a TVL of about $2 billion.

According to recent published reports, the TVL dropped to $500 million in March 2020. However, this explosive growth stems from the yield farming ecosystem and the high lending interest of DeFi projects.

Just as expected in any market, this sector has its leaders. Currently, Maker, Aave, and Curve Finance are the leading projects.

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1. Maker

Maker Dao is the current leading DeFi project, with more than $1.46 billion of the $6.71 billion locked within this single project. Maker outperforms other platforms in the DeFi world pretty much the same way Bitcoin tops the crypto industry.

Maker is the oldest and the most recognizable name and cryptocurrency on the list. It is a decentralized credit platform on Ethereum that supports DAI – a stable coin with a USD-pegged value.

You can open a vault with Maker, lock in collateral such as BAT or ETH, and generate DAI as a debt against that collateral. DAI debt induces a stability fee (a continuously accrued interest) paid upon repayment of borrowed DAI.

Also, Maker has a unique feature called DAI Savings Rate (DSR). The feature enables DAI holders to lock their DAI into Maker’s DSR contract and receive a variable interest rate in DAI, generated from stability fees.

Maker dominated the DeFi sector with 21.78% of the TVL.

2. Aave

Aave is an open-source, non-custodial protocol on Ethereum for borrowing and lending a vast range of cryptos using stable and variable interest rates. I should also mention that the platform is entirely decentralized.

Aave offers notable distinguishing features such as rate switching, flash loan, uncollateralized loans, and unique collateral types.

It also uses a native coin – LEND – as a bargaining chip to provide holders with discounted fees. LEND is also staked for governance and as the first line of defense for outstanding loans.

Also, Aave provides the broadest range of DeFi collateral of any lending protocol on the market and takes a large share of the DeFi lending market due to its strong liquidity and the chance to protect against smart contract risk.

Aave’s flash loan feature opens the doors for safe and secure arbitrage opportunities at virtually no cost to the user.

Unlike other lending platforms that tend to lock users into a variable or fixed interest rate, Aave’s rate-switching feature allows users to switch between two different markets and earn by arbitrage.

This enables users to get the best interest rate on their loans by choosing between “variable” and “stable” interest rates.

However, these stable rates are not fixed interest rates but a rather stable form of variable interest rate, which is constant and less susceptible to market fluctuations.

Though launched in May 2020, Aave is currently ranked second and locked at $1.26 billion.

Read Also: What To Expect From The Crypto Market In H2 2020

3. Curve Finance

The Curve is also a decentralized exchange liquidity pool on Ethereum designed for stablecoin trades. It is ranked third with a TVL of $1.04 billion.

Since its launch in January 2020, Curve enables users to trade between various stablecoins with low slippage. Its small fee algorithm was explicitly designed for stablecoins and earning fees.

The Curve is also one of the few DeFi protocols to achieve exact product-market fit by fulfilling a specific purpose that market participants have come to value.

Also, Curve serves as an alternative to trading stablecoins on general-purpose DEXes such as Uniswap, whose algorithm is not optimized.

Curve also integrates with DeFi lending and borrowing platforms like Compound, dYdX, and Aave, which allows Curve users to earn interest on top of their trading fees.

Another interesting fact about Curve and other Ethereum-based DeFi protocols in its class is that they allow anyone to provide liquidity to the market.

Unlike traditional market makers that often use exchange-provided assets to provide liquidity to a market, Curve delivers to users with assets that support its market to provide liquidity.

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Conclusion

Hopefully, the reign of DeFi will lead to a further deepening of the cryptocurrency market for the benefit of investors . There is no doubt that there is more to come in the days ahead.