Breakthrough Ethereum-based projects

3 April 2018

Ethereum is a global platform that has grown far beyond its initial use as a smart contract blockchain and a cryptocurrency. Ethereum has developed a special protocol to enable new startups and authors of innovative ideas to create their own blockchains and cryptocurrencies on top of it. It has become a roof for a large number of projects allowing them to raise funds through crowdsale of their tokens. Below are just some of the most successful ones.

OmiseGO

OmiseGOOmiseGO is one of the largest Ethereum-based projects providing payment services and operating a decentralized exchange. Last February Omise featured in the interview kindly provided to our blog by the team of the startup.

OmiseGO upholds the philosophy formulated as “Unbank the Banked”, which means that the key objective of the company is to simplify banking services for all people irrespective of their bank account status. It means that both groups of customers having bank accounts and experiencing problems with access to conventional banking services may enjoy convenience of the new payment infrastructure created by Omise on the platform of Ethereum blockchain.

Token of OmiseGO bearing OMG ticker at the moment holds the sixth place in the list of Ethereum-based cryptocurrencies in terms of its market capitalization. OMG was the first Ethereum project to exceed the valuation benchmark of $1 billion, becoming the first Ethereum unicorn startup. OmiseGO scheduled the launch of its first wallet SDK in the first quarter of this year with further improvements and upgrades expected for the platform in general and for the wallet.

EOS.IO

EOS.IOEOS, a blockchain and a cryptocurrency token providing the ecosystem for businesses and individuals to interact through smart contracts, is the most valuable Ethereum-based project in terms of its market capitalization. It occupies the first place in the list of tokens on the basis of Ethereum blockchain being valued at over $4.6 billion (down from $6 billion in February 2018).

The project pursues the objective tom become an operating system with decentralized control providing the environment and support to industrial-scale applications with an ultimate goal to cut the transaction fees to the zero level while enabling millions of transactions performed in a second.

While EOS is based on Ethereum, it operates its own blockchain, it does not use the blockchain of its parent. It means that the only link between the two comes just to Ethereum-based tokens.

Tron (TRX)

Tron (TRX)As decentralization is an integral part of the blockchain philosophy, many projects promote it in various areas as the key advantage of their ideas or concepts. Tron is no exception: its key mission is to decentralize the distribution and consumption of content, eliminating any need in intermediaries. TRX allows content creators and consumers connect directly, bypassing agents or centralized platforms like Google, Facebook, Apple and others.

Tron is the second largest Ethereum-based token after EOS. Its current market capitalization is valued at about $2.3 billion.

Binance Coin

Binance CoinBinance Coin was created with the aim to facilitate the process of transactions performed at Binance cryptocurrency exchange and trading platform. Binance exchange has a capacity of processing 1.4 million orders per second. The name of the trading platform comes from the amalgamation of the terms “binary” and “finance” suggesting that the exchange enables integration of digital technologies and financial services.

Binance Coin is currently valued at over $1.6 billion in terms of its market capitalization. The token is primarily used for paying transaction fees at the exchange, and to stress the attractiveness and promote more active use of the cryptocurrency, Binance lures customers with special discount programs if they agree to pay the fees in Binance Coin. Thus, the first year of the participation in the discount program brings a 50% rebate, followed by 25% in the second year, 12.5% in the third year and 6.25% in the fourth year.

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