2017 was a big year for cryptocurrencies, and 2018 promises to offer more of the same for the crypto and blockchain phenomenon.
The total market value of the industry has surpassed the $600 billion mark at the beginning of 2018, making it a powerhouse on the financial market.
In this article, we will look at the most influential companies that have been at the forefront of this remarkable feat.
Ethereum is a completely decentralized platform that works using smart contracts.
Smart contracts allow users to make financial transactions and agreements without any third party interaction or interference.
Approximately 13 million users from all across the world use its services, with every 3 of 4 projects being performed on the ETH platform.
It also has a dedicated cryptocurrency of the same name, which is currently the second most valuable currency on the crypto market.
With a market value of $2 billion, Coinbase is the leading exchange platform and digital wallet.
Coinbase revolutionized the market by offering the safest and easiest option to exchange cryptocurrencies.
The company has served more than 6 million users and is the most popular Bitcoin exchange, with over $6 billion of digital currency exchanged.
Coinbase’s high liquidity and instant buy options have made it a leader in the field of exchange and brokerage.
IOTA differs from other cryptocurrencies, as it is a crypto project based on a distribution ledger, that uses a unique data structure called the Tangle, instead of blockchain.
This has allowed them to create a crypto platform that has no transaction fees, short confirmation times and a stable server regardless of the number of transactions.
The company’s pioneer thinking and approach have made them popular with many crypto enthusiasts. It has a market value of around $15 billion and is quickly becoming a preferred system for many users.
Being partnered up with companies such as Microsoft, Deutsche Telecom and PwC, IOTA’s future looks bright.
Qtum combines a smart contract system with a proof of stake model, which diminishes the computational difficulty and increases scaling.
This unique platform is unlike anything else on the crypto market and currently holds a market value of around $5 billion. Though its hard to predict the company’s future, with a very successful year behind them, Qtum has the potential to become a leading platform for smart contracts, especially if they launch their own blockchain, as announced.