Ethereum has created a platform where ERC20 tokens and other variants can be built and thrive well. As a result, there have been over five hundred tokens and blockchain projects developed on this platform, many of which have either migrated (like TRON or EOS) or gone into oblivion (too many to name here).
This is not surprising seeing how it was the first platform to integrate smart contracts into its ecosystem as well as create a developer-language so others could build on top of and tokenize their assets and projects. The platform has been the number one choice to date for initial coin offering token creators and enthusiasts to build and launch their own coins. That, combined with the community around Ethereum makes for an excellent way for new tokens to gain exposure and credibility.
Not that it matters though seeing as many just branch out after establishing some user base or try to compete with Ethereum itself. In fact, some Ethereum competitors are created on the platform and designed using its blockchain.
How a token believes it will beat its foundational technology beats us. But many of them clearly think they can. In this article, we’ll be looking at some of the best ethereum based tokens. This is for those looking to invest in cheaper, similar or related tokens that have been built or currently being built on the Ethereum platform.
This has become increasingly important seeing as investors are looking for viable alternatives considering Ethereum’s glaring problems and their lack of solution. For instance, sharding isn’t going to happen anytime soon –should take at least 12 months- and there are real scalability concerns too.
Of course, this doesn’t mean that the tokens will be looking at are devoid of problems. We’re just providing you with possible alternatives that are based on the same technology, so you can make an informed decision about the best viable options that are readily available to you.
Please note that we still consider Ethereum one of the top crypto projects in the space right now. Its marketplace acceptance, widespread adoption and active community proves this. Whether it stays that, only time will tell. Also make sure to read our post on Ethereum phishing scams as well as the scam that was just announced via their official twitter page.
However, all of that aside as you don't have to worry about those things with these projects, here are nine ethereum blockchain network projects worthy of in-depth look.
Binance Coin (BNB)
The popular exchange’s own native token, is used for easing transactions and reducing fees on the exchange. Most people often have to convert their fiat currencies to bitcoin or Ethereum, and then trade that with their altcoins of choice.
This process can be tedious. Instead, you can easily just exchange your cash with Binance Coin and trade your cryptos. The coin is also effective for many other fees on the platform.
The company is actively pushing for its users to adopt it as the crypto of choice on the platform in exchange for drastically reduced fees and charges –discounts as high as 50 percent on all fees on the platform in the first year.
At the beginning of the year, this controversial crypto was identified as one of the best ethereum based tokens for investors this year. And so far, it has proven itself a good investment choice for investors, compared to the poor performance witnessed across other tokens in the market.
The basis of the project though, is noteworthy, with it focusing on giving those without bank accounts an alternative way to send and receive funds instantly, cheaply and from anywhere in the world.
With transactions carried out on the OmiseGo platform, transfers are instant and ridiculously cheap. This, combined with decentralized nature means that it’s trustless and devoid of the regular bureaucracy associated with financial institutions.
Once fully live, OmiseGo will offer a numerous number of financial services designed to compete directly with regular banking services. These will include everything from payroll services to remittances, asset management and payments in general.
With offices in four Asian countries –Indonesia, Singapore, Japan and Thailand- with a large population of unbanked people, reaching those populations shouldn’t be so hard.
In fact, the project has attracted investors from big firms like Credit Saison and McDonald’s, and looks poised to attract even more big partnerships. It is consistently updated and its management team keeps things transparent and open to everyone.
The crypto space is currently filled with centralized exchanges. This defeats the very essence of cryptocurrencies as most are designed to be decentralized. This is a huge problem right after scalability problems.
Of course, there are quite a few decentralized exchanges right now. But, all of them combined together only corner a very small part of the trade volume going on every day. The 0x (ZRX) protocol hopes to solve this problem by providing a platform where ERC20 tokens can be traded on the ethereum blockchain.
The trades will be carried out on decentralized exchanges, thus eliminating the need for a trust based system as seen in most centralized exchanges. This will also act as a platform for the deployment of ERC20 based dapps.
Transactions on the platform are speedy, while scalability is easy to handle, thanks to its off-chain radar relay. Dapps projects like Request Network, Aragon, and Augur already run on this platform successfully.
Trading on the platform attracts zero charges, and looks poised to get even bigger. So, we expect to see major price growths and value increases in conjunction with the platform’s growth.
While it’s not as popular as it should be, Maker is fast becoming a highly coveted token in the crypto space. This is because of its very composition. The token is made up of two very crucial parts –a utility token and a stablecoin. This makes MakerDAO the first cryptocurrency token to have these two features embedded in one token.
Stablecoins are fast becoming highly coveted cryptos owing to their stability and inability to fluctuate wildly in price, unlike other cryptos whose values end to jump around. This is probably why more traditional services prefer these coins to the regular cryptos. People with these coins need not worry about price instability or fluctuations.
Basic Attention Token (BAT)
While this used to be somewhat popular, its fortunes took a dip for a bit, until Coinbase announced the possible addition of the token and a few others to its exchange. BAT is a digital advertising solution aimed at eliminating the middlemen like Facebook and Google, and putting power back in the hands of site owners.
This way, advertisers and publishers are connected directly, thus allowing both parties benefit maximally from their partnerships. Advertisers would be able to pay publishers directly and track their ad campaigns without paying any extra to middlemen companies.
As laudable as this sounds, there are real risks attached to the project. First is that the entities this project hopes to take on are some of the world’s biggest organizations. Digital advertising is dominated by Google, Facebook, Youtube and to a lesser degree, Bing and Yahoo.
Taking on these giants is an uphill task and will take years of hard work. The only thing that Basic Attention Token has going for it is the technology that’ can facilitate the transactions quickly.
For starters, its Brave browser project does an excellent job of blocking ads and protecting your private data. If you’re looking for a useful browser that strips your search engine results of advertising, this is the browser to get. With Brave browser, users can elect to turn on ads in exchange for tokens or some other forms of compensation.
With its embedded Brave Payments solutions, advertisers can then directly pay users, while information consumers can compensate their favorite content creators directly and without the need for middlemen services.
While it hasn’t become very popular yet, the number of publishers and advertisers jumping on board is growing.
Market speculating, forecasting and predictions are huge industries. All of these are typically driven by algorithms and scaled down versions of artificial intelligence. At the present rate, these industries are responsible for billions of dollars in revenue.
While this is great, imagine what combining those algorithmic data with realtime human data, sentiments and emotion, and what it is potentially capable of doing. That’s what the Augur project is aiming to do.
With a combination of the crowd’s wisdom, algorithmic parameters, and game theories, you can be sure of more solid and reliable predictions than any other source on earth –including industry experts.
Augur’s goal is to create a decentralized prediction platform where people can predict future events, assign odds and get the rewarded in the process when those predictions come true. So, unlike the current betting bookies that take bets, tallies results, and distributes rewards or losses as the case may be, you now have a platform that does that in a truly decentralized manner.
Users who report outcomes honestly are rewarded with the project’s token – Reputation (REP) – while those who don’t lose whatever REP they had. The platform which was launched this month has been getting a lot of attention and performing decently.
The only downside is that its performance is largely limited by Ethereum’s performance limits. But we envisage that this will improve drastically in the near future once ethereum’s scalability issues are resolved and the limits of the performance are drastically improved upon.
In the first quarter of this year, Bytom enjoyed considerable growth, with its value rising up to $1. Unfortunately, the recent crypto market slump has caused the value to drop in price to as low as 30 cents each. This doesn’t mean that the project isn’t valid though. The market is currently going through a slump, and should recover in the nearest future.
Bytom’s single goal is to simply connect both the physical and digital worlds by bringing the perks of blockchain solution to the real world. Assets placed on the Bytom blockchain can be exchanged for payments, rewards and value.
Pundi X (NPXS)
This is like an enhanced version of OmiseGo that provides a platform where people can use their cryptos in buying stuff from regular stores, purchase and exchange cryptos using POS devices and carry out easy p2p transactions.
The best part of this project is the platform’s dedication to bringing these services to those who are either unbanked or underbanked. This means you can easily do all the aforementioned transactions without having a bank account or never worrying about the bureaucracy of a banking facility.
All these are possible courtesy of the platform’s unique ability to link people with vendors who accept bitcoin and ethereum through a series of exchanges that can instantly pay the vendors or retailers in their local currencies. This is Pundi X PoS (point of sale) devices that make its flagship product go.
For now, the cryptocurrency’s target market is in Indonesia where more than half of the population has no bank accounts.
The Internet of Things (IoT) is fast becoming commonplace. Thanks to the advancement of the technology backing connected devices, it is now easier than ever to have every of your devices connected and synced to one another.
The problem with this however, is that most IoT systems are centralized and run by one or a few entities. This means that these companies have access to all your data in its rawest form and where WaltonChain is out to make its mark in the industry.
If you’re smart, you don’t want to entrust your data to just a few corporations. If the recent Cambridge Analytica scandal has taught us anything, it’s that you can’t trust a centralized big corporation. So, what’s the alternative?
Decentralized IoT platforms with military grade end to end encryption technology that secures your data and only makes it available to the users only. Waltonchain is one of the new group of decentralized platforms dedicated to solving this problem. It does through an IoT network that’s powered by the combination of blockchain and RFID technologies.
Known as the Value Internet of Thins (VIoT), this network offers an ecosystem that ensures that all connected objects are hooked up to the platform in a trustless manner.
Once integrated with smart contracts, the technology will become incredibly more potent. While it’s still in its early stages, Waltonchain has powerful potential and a use case that can be utilized across a wide swath of industries.