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EOS, Cardano(ADA), Tron(TRX), Lisk, & VeChain – 5 Long Holds

EOS

Cryptocurrency gained mainstream adoption towards the latter half of last year. Many individuals decided to jump on board with the altcoins that would make them the most money, in the quickest amount of time. Most had zero to little investing experience, and when the market corrected the second week of January, all hell broke loose. For most individuals that have investing experience, they understand that market correction is inevitable, but “panic” selling became the immediate response among the inexperienced investors.

Long Cryptocurrency Holds

Source: CoinMarketCap

However, exchange issues ultimately started the fall of cryptocurrencies and with the panic selling it created the “perfect storm.” In less than a month, the entire cryptocurrency market lost over $550 billion USD. Now, an issue plaguing the market is that individuals won all these altcoins, but most have zero knowledge of what they actually seek to do or where they are at in building or upgrading their products.

Cardano’s founder and former CEO of Ethereum, Charles Hoskinson, made a statement via his personal Twitter (NASDAQ:TWTR) two weeks ago and said it best. If you don’t follow him, I suggest that you should, he said:

“The ignorance and stupidity of day traders never ceases to amaze me. I do not and legally cannot influence price. It’s not within my power. Stop looking to me as a get rich quick solution. I’m here to build Cardano, and we are probably doing that every single day. The markets went from 250 dollar bitcoin to 20,000 dollar bitcoin in a year without much change in fundamentals. Add that these are thin markets, mostly unregulated, subject to black swan events and filled with retail money. = massive volatility and high risk. What’s not clear? If you get a 10x on a trade, then someone is on the other side of it. Ask yourself why they are buying? If it’s to get another 10x, then you have a serious problem. Coins need utility and real-world use prior to preserving their value. It is my job not to be phased by the daily volatility of the markets. I have to build the most complex cryptocurrency ever designed, using formal methods and peer review, in record time and somehow get global adoption. How about I focus on that instead of the daily price? … I deeply care about the state of crypto. It’s not healthy. It’s filled with greed, corruption, and toxic people. All of them are draining the life and capital of good honest people. But I simply have no power other than warning people and being a spectator. I just can build Cardano and work on our other projects as we do every single day.”

Brava, Mr. Hoskinson, Brava. Many of the day traders, looking to get rich don’t understand the magnitude and time it takes to develop these revolutionary products. Some of the coins on my list, have working projects and are past their testing phase, but most have only begun to scratch the surface of what they seek to do. It’s hard to get an accurate representation of a coin’s value when it doesn’t have a fully functional product behind it.

>> Top 3 Weiss Coins

EOS

EOS was launched by block.one and has been quoted by many developers to be one the biggest projects to emerge in the cryptocurrency space to date. The team’s CTO, Dan Larimer, founded BitShares and Steem; he is also the creator of delegated proof-of-stake (DPOS) and decentralized autonomous organizations (DAOs). Where Ethereum lacks in its ability to scale, the team behind EOS has blown the doors off of this. EOS is a blockchain platform for the developments of decentralized applications (dApps).

EOS is said to be able to compute millions of transactions per second, due to its DPOS protocol. Just to put that into real life perspective, PaPal manages 193 transactions per second currently and Visa around 1660. In the cryptocurrency space, Ethereum manages around 20 transactions, and Bitcoin currently processes around 3-4, a second. There are many other advantages to EOS compared to its competitors with its way it process and handles faulty DAPPs, and it’s web toolkit for interface development, it’s governance and its parallel processing.

Currently, EOS is only in its test net stage, but the fact that this project is the 6th largest cryptocurrency by market cap without even having a beta out, says it all. Weiss Ratings has put this coin as one of their top coins to look out for on the market, due to all of its underlying features.

Research for yourself but this is one of the top cryptocurrencies I could see passing Ethereum down the road.

>> EOS Technical Whitepaper

Cardano (ADA)

Cardano is an open-sourced, decentralized public blockchain ledger, which sounds very similar to every other project out there. However, Cardano is the only blockchain project that came as a result of a scientific-driven philosophy. The project takes on research-driven approaches and uses the specific programming language known as Haskell. This language was chosen by the Cardano team due to its ability to handle faults and attacks on the system, and it can process thousands of transactions per second.

Many developers believe that Cardano could pass EOS, due to the team and research behind the project. As well as Cardano being built from the ground up and is self-funded.

While the full Cardano envisioned project is still around two years out, it currently is working on perfecting its test net that was launched recently. The team wants to perfect the code so that when the main net is released, it will be flawless.

If you read the large quote above, you can see how passionate Cardano’s founder is about his project. Follow him on Twitter to get the latest updates and check out Cardano’s whitepaper here.

Lisk (LSK)

Lisk is the very first modular cryptocurrency blockchain that utilizes sidechains. These side chains are all connected to the main chain, but when one is corrupted, it does not affect the main or other chains on the network. The team behind the Lisk project chose the most popular global coding language, Javascript, to aid its widespread adoption.

Lisk uses Lanier’s protocol, DPOS and has just recently appointed Cardano’s Charles Hoskinson, as a senior advisor. What makes it unique to stand out from its competition, is most definitely that it is a platform for dApps, that are built on their own individual sidechains. While most of these three long-term hold coins seem extremely intertwined, their technology while in its alpha or early development stages has still far surpassed Litecoin, Ethereum, and even Bitcoin.

Just recently the Lisk team rebranded and have launched Lisk academy, which aims at providing knowledge to the masses about blockchain technology.

>> Lisk’s WhitePaper

Tron (TRX)

Tron is slightly different than the other project’s on the list. It is a blockchain-based decentralized protocol that aims to construct a worldwide free content entertainment system with distributed ledger technology. Tron seeks to cut out the middlemen such as the Apple and Google Play store and give power back to the creator. It provides the platform for the creator to display their content and make money off of it, without the rules that Youtube and Spotify have.

Additionally, creators get paid by the Tron Network for the most popular content they produce as voted by the Tron community, and no percentage is taken from that reward. This project seeks giving power back to the creators.

The team’s test net is set to launch in a week’s time, and the main net has been pushed for release towards the end of May. Tron’s roadmap includes various upgrades, with the last one looking to be completed around 2023. The first phase is Exodus, which is the free peer-to-peer platform for distribution, storage, and content. The second is Odyssey, which will be completed in 2020, will add economic incentives put in place to encourage content creation and empowerment. The Great Voyage, which is set to launch in 2021, will add individual ICO capabilities. This is just the tip of the iceberg for what the Tron Foundation seeks to build. It ranges far beyond just a free Youtube.

After its ICO launch, the Tron Foundation spent most of their efforts building a strong group of developers. It has achieved this, and with its test net just days away, this seems like only the beginning of the rise of the cryptocurrency.

>> Tron’s Technical Documents

VeChain Thor (VET)

VeChain just rebranded within this last month to VeChain Thor. The coins have yet to switch over from VEN to VET though. However, this new rebranding is set to take quite some time as the company seeks to shift beyond just their established supply chain focus. VeChain Thor seeks to enter into the dApp community, similar to Ethereum and will use both VeChain tokens (VET) and Thor Power.

VET holders will be given THOR that they will be able to use to create smart contracts and run applications. This is very similar to how the NEO network produces GAS. The Nodes that run the network will also receive THOR, as a reward.

Currently, VeChain allows businesses to track their products with chips designed to track a products full supply chain cycle, via the blockchain. This ensures quality and authenticity of the products distributed to consumers. The VeChain team currently has numerous current partnerships with luxury retail stores, food/drug companies, and logistics systems that currently use their products. Just recently, it was prematurely announced that it had teamed up with automobile giant BMW.

VeChain has an underlying working product that has been on the market for two years now, and will its shift to dApps it could easily move up on the market. Currently, the cryptocurrency is ranked 17th, by the total market cap.

>> VeChain 

Featured Image: Lawyers

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