How New Cryptocurrencies Are Created
Any cryptocurrency other than Bitcoin is commonly called an altcoin, literally an “alternative coin.” These digital currencies can offer significant profit potential, and investment opportunities remain plentiful. If you’re short on ideas and unsure which cryptocurrency to choose, read on — our suggestions may help you find the right option for you.
Why New Cryptocurrencies Are Created
The process of creating a cryptocurrency is relatively straightforward: developers can either take Bitcoin’s open-source code as a starting point or write a new codebase from scratch, leveraging blockchain technology. They link data chains into a single system, add the necessary features, set the units of account, establish the mining or issuance mechanism, and finally give the new currency a name.
What Use Do New Digital Currencies Serve?
All cryptocurrencies, whether well-established or emerging, help shape the public perception of the entire crypto trading sector. Each new digital currency can strengthen the overall ecosystem—including Bitcoin and Ethereum—because every new altcoin miner may become an investor and participant in the crypto network. This creates an interconnected industry: as long as Bitcoin exists, the market exists; if Bitcoin were to collapse, the altcoin market would suffer as well. Conversely, if demand for altcoins grows, values of Bitcoin, Ethereum, Litecoin and others may also rise. Beyond coins themselves, cryptocurrency exchanges and trading platforms are also crucial to the industry’s health. Many variables influence the system, and because of that awareness, numerous participants are focused on improving the sector’s reputation and resilience.
Cryptocurrencies That Appeared in 2018
Envion
Envion launched trading on February 15, 2018. Its distinctive feature is that mining occurs near inexpensive energy sources, which significantly reduces extraction costs.
Gladius Token
Gladius is built on the Ethereum blockchain. The platform lets users connect to nearby protection pools, improving security against threats like DDoS attacks. Gladius also offers an intuitive interface and advanced analytics tools to help speed up websites and enhance performance.
World Bitcoin
World Bitcoin was designed to enable greater integration of application infrastructure. Limited public information is available so far; the main details are provided on the project’s official site.
Bitcoin Candy (CDY)
Bitcoin Candy emerged from a hard fork of Bitcoin Cash. The project aims to address future risks posed by quantum computing technologies that could undermine current digital currency functions.
BioCoin
BioCoin is an interesting project that creates a blockchain platform dedicated to eco-friendly companies operating in the green tech sector.
Which Cryptocurrencies Are Coming Next?
The list of new cryptocurrencies for 2018 doesn’t include many radically disruptive projects, but a few upcoming entries deserve attention.
- GRAM – A project initiated by Telegram founder Pavel Durov. Unlike many alternatives, GRAM is expected to operate alongside its own exchange platform. That could offer users advantages such as depositing investments, storing savings, and making payments for a variety of services. The system is also planned to include self-correcting mechanisms to quickly fix bugs and errors. Although GRAM’s public listing was anticipated soon, building the platform takes time; at present it is not listed on major exchanges, but much information has already been published in white papers.
- SingularityNET – This token centers on artificial intelligence, an area that attracts major companies globally. Due to that attention, SingularityNET could see notable growth if adoption increases.
- Qlink – Qlink aims to create a new telecommunications network model. If successful, users might access alternative SIM packages, sell Wi‑Fi and mobile data, and generally make mobile communications more accessible and decentralized.
While it’s impossible to predict with certainty which emerging digital currencies will generate the greatest returns, blockchain technology and mining activity are likely to continue expanding. Many investors may find meaningful opportunities as the industry matures. Consider researching and investing through reputable cryptocurrency trading platforms as you plan for the future.