The blockchain technology is a revolution in this century. It has opened up a whole new industry that has everybody talking and wondering how far it will go. The industry has transformed the way people viewed the financial market and investments. The industry has no shortage of digital assets for the investor who is intent on making this industry count. However, with hundreds of coins to pick from, it becomes very hard to single out the coins with good prospects. This article will explore Elastos Coin (ELA) and Litecoin (LTC), two of the best coins that have good prospects in 2018 and are definitely cryptos to watch in the coming months.
Elastos Coin (ELA)
This is a relatively new coin but is currently ranked 73th on CoinMarketCap when considering market capitalization. It has a market cap of $148,107,396 while in the last 24 hours its trading volume stands at $8,091,560, besides ELA/USD is changing hands at $28.40.
The project is based solely on blockchain and has the vision to be the number one open source Internet Operating system, if not the first. The team is developing internet that is open source without the intervention of third parties. In this ecosystem the community will be able to access internet service directly, browse, download videos, movies and even play games without a third party interference.
Moreover, the Elastos project distributed architecture will provide working solutions that are based on future technologies like the Internet of Things (IoT). They will also use these technologies to bring financial inclusion for the larger community across the world. They will offer a service that links digital content to digital IDs and revolutionize the way people buy music, movies or even books. In addition to that content creators will have an open marketplace where investors are paid using smart contracts. It will function in the same way as Google Play Store but also work with iOS devices.
Litecoin is the 6th cryptocurrency and has a market capitalization of $5.55 on CoinMarketCap with a trading volume of $349 million. It is trading at $97.47 and is currently correcting higher. LTC/USD is up 1.25% in the last 24 hours despite it has dropped from trading slightly above $102 on Thursday, June, 14.
Litecoin was founded by Charlie Lee, a former Google developer. He envisioned a cryptocurrency that was far much better than Bitcoin in 2011. Charlie Lee thought Bitcoin code made it sluggish and desired a “lighter” blockchain that could be used to make fast payments and bring down the costs of transactions. Charlie Lee now works at Litecoin full time with a team of blockchain experts.
Litecoin is originally a fork of Bitcoin and therefore, many experts say that it has a lot of similarities with the king of virtual currencies, Bitcoin (BTC). However, as mentioned, it is much “lighter” than BTC and achieves a maximum transaction confirmation time of 2.5 minutes. This feature has made Litecoin stand out among many other cryptos besides it beats Bitcoin’s confirmation time by a large margin.
Litecoin (LTC) adoption as a payment platform has gained traction in the past years. There are many merchants across the globe who accept LTC as a form of payment. Charlie concentrates on making Litecoin a cryptocurrency of choice for businesses. Another factor that makes Litecoin easy to adopt is that it is very easy to cover LTC to USD, EUR, and GBP. In addition to that, Litecoin is a tradable asset on many exchanges across the world. Litecoin has also been the favorite of many investors and its potential for growth is immense. At the moment, LTC/USD is trading below $100, which is a good entry position to buy the dip and watch the crypto scale the levels towards the end of 2018.
This information should not be interpreted as an endorsement of cryptocurrencies or a recommendation to invest. Historic performance is no guarantee of future returns. As an investment class, cryptocurrencies are speculative investments and investing in cryptocurrencies involves significant risks – they are highly volatile, vulnerable to hacking and capital loss and sensitive to secondary activity. Before investing you should obtain advice and decide whether the potential return outweighs the risks.