Cryptocurrencies with potential for growth in 2020

Cryptocurrencies to keep a look-out for!

**Disclaimer: This is not market advice. The author is not responsible for any financial decisions**

The Past, Present..

           The Bitcoin Halving has brought the much need spotlight back on cryptocurrencies. This has led to an increase in the price of some currencies as many are getting back into the field of crypto trading. This is a great relief to the whole crypto market after the series of hacks of major exchanges and the Wannacry Ransomware attack that put the whole market in a bad spotlight.

            The recent Coronavirus pandemic has caused various world markets to crash and reigniting fears of a recession that can cripple various markets. This has also contributed to bringing an influx of traders looking to  markets equally volatile but almost independent of the fiat-based markets.

            The bitcoin Boom that occurred in 2017, is something that some reminisce and many regret. The initial lack of confidence and the infancy of the blockchain technology, led many to not invest at the early stages and are feeling left behind, but fueled by the success stories of those who rode the wave and became millionaires.

And Future...(?)

            In this modern time, the crypto market is more well understood and respected and many have become traders in the market. But the market is volatile and can be easily disrupted by whales (coin holders with large sums of money), when compared to a traditional fiat-based market.

           But don’t lose hope, just yet! There are some coins and tokens that are showing some potential of significant growth and is also has a large user base and support. Today, I shall talk about some of these coins and tokens, that I personally feel have growth and/or am personally invested in them.

In no particular order,

1. Basic Attention Token (BAT):

 

        The Basic Attention Token(BAT) is basically , as the devs say and i quote, "A new token to value user attention on the internet". The aim of the token is to measure a users attention and privately moniter their attention and accordingly deliver ads that 1) does not affect the user experience 2) Increase targeting and ROIs of advertisers and 3) Increase the efficiency of Publishers and hence their rewards that is paid in BAT.

 

                                        An image found on their website

        With the introduction of their Brave Browser , and integration with the BAT token, it has significantly increased their userbase. An effect of this token can be seen in Japan where, the Brave Browser has become the most used browser there, replacing Chrome and Firefox.

 

2)ChainLink(LINK)

 

        Chainlink is a decentralized oracle network, whose goal is to increase the adoption of smart contracts by adressing a problem that has plauged them since their inception. A smart contract can easily access information that is present on-chain but traditionally, requires an oracle, to connect to off-chain data. These oracle services are generaly centralized and can act as a single point of failure. This is against the whole concept of the blockchain so to tackle this problem with their decentralized network.

Image Source : Chainlink Website

With the great potential that this token shows, many have invested in them or are running chainlink nodes. The token has seen a growth since April 2019 and has also garnered increasing user support by , continously improving the system, hiring more staff. Their recent introdoction of its Verifiable Random Fucntion(VRF)has also been positively accepted by the community.

 

3)Synthetix(SNX)

 

        Synthetix is a decentralized synthetic assest issuance protocol which runs on the Ethereum Blockchain as a smart contract. The synthetix network help bridge the gap between crypto assets with real-word assets like Fiat, goldm long and short positions for crypto and also the FTSE 100 and NIKKEI 225 index prices. This is a revolutionary new idea that has the scope of changing the marketplace forever.

        It has also becoming an alternative form of collateral, replacing ETH. The two major components of the Synthetix network is the Synthetix.exchange and Mintr. The Synthetix.exchange is the primary exchange where traders can trade the Synthetic assets(Synths). The Mintr is where SNX holders can stake their SNX tokens to mint Synths. Thse who exchange one Synth for another on the exchange incur a fee which is sent to the fee pool where stakers can claim their proportion every week.

 

Final Thoughts and Conclusion

        New Altcoins are introduced almost every day but a majority of them do not last to see the light of day. Therefore, investors must be wary of their investments and always must DYOR(Do Your Own Research). The above article is not my investment advice to u at all, rather it is my sincere effort to bring more exposure to these new Tokens which, according to me, have genuine potential. So, again, DYOR and have a Good Day.

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ETH(&ERC-20 tokens) :- 0xB0c4b4A05f686cB1362CdbFB59F351F9aa7e2B40

Ravencoin:- RNrjVWRmPGNiyEwWiiTbZ2D8LQM5XWsXTF