For some time now, the cryptocurrency sector has experienced a bear market so bad that when it initially started, sowed fear in a lot of minds.
In fact, some analysts at the time strongly considered the possibility that the effects of the bear market in the sector, especially with adoption, would be considered catastrophic. However, it would seem like their predictions did not come to pass.
Even though the situation may have caused a noticeable amount of loss, it would be unfair to completely disregard the amount of growth that the sector has experienced, especially in the last couple of months.
Usually, bear markets almost completely stop the market, running it down. This case is, however, a little different as there's been some increase regardless of the general state of the market.
Ethereum based endeavors are currently quite active and also very promising.
Specifically considering Decentralized Finance (DeFi) apps alone, Ethereum currently has a value of at least $340 million in there. This is pretty impressive but doesn't even take into account all other Decentralized Applications that aren't DeFi.
There currently are quite a few ETH-Based endeavors that have shown up on everyone's radar and are worth paying close attention to, this year and onward.
Here are three of them in no particular order:
Top 3 Ethereum Tokens
There's a very high chance not a lot of people have heard about this especially because it's not anywhere near the top projects when ranked by their market caps. Nevertheless, iExec should be closely watched.
An abbreviated form of “I Execute”, iExec is startup based in Lyon, France, with a specific focus on Blockchain-Based decentralized cloud computing. Supposedly, the name is a reference to the firm's way of letting its users “execute” cloud operations at very interesting rates.
In today's world, purchasing and keeping hardware to store files and heavy company projects has, for most people, become either completely impossible or largely unnecessary. This problem is now easily solved with cloud computing and iExec plans to make the process even more smooth.
However, the most interesting thing about the firm just might be it's partnerships with two of the world's biggest companies: Alibaba and Intel.
In an official blog post by an iExec editor, Blair Maclennan, the partnership was broken down a bit:
“On this [iExec blockchain-based] Marketplace, Alibaba Cloud now provides Encrypted Computing, powered by Intel® SGX, to support the iExec Trusted Execution Environment (TEE) solution. This iExec TEE solution provides end-to-end protection of data for blockchain-based computing.”
Furthermore, there is a specific example about how this collaboration can go as far as helping a hospital temporarily access medical data, helping its researchers make considerable improvements in their work. This is one of the many ways iExec’s services could be used.
Basic Attention Token (BAT)
Created by Brendan Eich, co-founder of Mozilla and Firefox, BAT is basically an ERC-20 token integrated with the Brave web browser and is used to pay content creators, publishers and users who use Brave ads. The Brave browser was also created by Brendan and BAT is heavily dependent on it.
It became considerably popular when in November 2018, it was listed on Circle and also on Coinbase. Currently, BAT is accepted by some big publishers like the Washington Post, The Guardian, Vice, Barron’s and also Vimeo.
At the beginning of the year, it was announced that Brave had increased its number of active monthly users by 450% to 5.5 million from the number in 2018. More recently in March, the app officially hit 20 million Android downloads.
Even though it could be argued that not all Brave users have an interest in cryptocurrency, it is almost impossible that a large number of users it currently has will have little or no effect on BAT.
Furthermore, Larry Singer – the co-founder of Wikipedia – publicly endorsed the browser on his website.
Indeed, things are going undeniably well for Brave lately — and BAT by association. Even the co-founder of Wikipedia, Larry Sanger, has made the switch to Brave and announced it publicly on his personal website.
According to him:
“I’ve switched to Eich’s newer, privacy-focused browser, Brave. I’ve had a much better experience using it lately than I had when I first tried it a year or two ago and when it was still on the bleeding edge. Brave automatically blocks ads, trackers, third-party cookies, encrypts your connections—and, unlike Google, they don’t have a profile about you (well, it never leaves your machine; the Brave company doesn’t have access to it). As a browser, it’s quite good and a pleasure to use. It also pays you in crypto for using it.”
This is a token that works with Dai as a way to give voting rights and borrow against other crypto assets. Currently, ETH is the only supported crypto.
It's a very useful platform that lets a user borrow using ETH by keeping it as collateral in a Collateralized Debt Position (CDP). This then entitles the borrower to Dai – which is a stablecoin – with a corresponding value of the ETH. This Dai may then be used for many different things or later be substituted for ETH.
One great reason to watch out for MKR is its “multi-collateral CDPs”. This has always been the plan but now, it looks like it will happen in the next few months.