5 Ethereum Based Products: Market Cap, Coins, Smart Contract

5 Ethereum Backed Products: Market Cap, Coins, Smart Contracts

Biditex team made its own investigation on Ethereum based products and differentiated 5 most-utilized products. But first, let’s understand why many people find more potential for Ethereum rather than on Bitcoin. ETH is the second-largest cryptocurrency traded in the crypto world both with its price and its scale but all the predictions bring to one point that it’s going to be more stable than BTC, therefore it may suggest a wider opportunity for other coins to rely on. Though like in the case of Bitcoin it has nothing to be backed but it has better chances later. Foreseeing this many of today’s investment companies think and some have already started launching Ethereum backed products. One of the best examples is JPM coin release by JP Morgan.

While analyzing tokens in the scope of market capitalization and overall interest, the top 5 tokens would be:

MAKER

Maker is a smart contract that stabilizes and backs DAI through a dynamic system of Collateralized Debt Positions (CDP), autonomous feedback mechanisms, and appropriately incentivized external actors. MKR tokens are created or destroyed in accordance with price fluctuations of the DAI coin in order to keep it as close to $1 USD as possible and is part of a fully inspectable system on the Ethereum blockchain. MKR tokens are also used to pay transaction fees on the Maker system.

Crypto.com Chain

Crypto.com Chain is another product that is a part of crypto.com. The latter was founded in 2016 with the goal of accelerating the world’s transition to cryptocurrency. Key products include the Crypto.com Wallet & Card App, a place to buy, sell, and pay with crypto, the MCO Visa Card, a metal card with no annual fees, and the Crypto.com Chain, which reportedly enables users to pay and be paid in crypto, anywhere, for free. Crypto.com is headquartered in Hong Kong with a team size of 120+.

The Basic Attention Token (BAT)

The Basic Attention Token (BAT) is the second with its market cap in Ethereum Blockchain owing to its innovative way of creating digital advertising platform. BAT allows publishers, advertisers, and users to connect in a more efficient, transparent and decentralized marketplace that reduces fraud, privacy violations while increasing publisher revenue.

EOS

EOS is the biggest Ethereum-based token with a market cap of $3,250,981,157million USD. What makes the EOS platform unique is its OS-like structure which can be scaled horizontally and vertically. Horizontal scaling makes it easier for companies to run several dApps or decentralized applications which then reduces their need for IT infrastructure. Various commercial dApps can be supported and built through the EOS platform. If EOS can successfully become the network of choice for enterprise-level clients, the value of the token will increase tremendously. EOS Price is $3.52 USD.

USD Coin

USD coin is a stable coin powered by Ethereum. It says, “A cryptocurrency with a stable price”. USDCs are issued by regulated and licensed financial institutions that maintain full reserves of the equivalent fiat currency in a 1 USDC:1 USD ratio. Issuers are required to report their USD reserve holdings frequently, and Grant Thornton LLP issues report on those holdings every month.

References:

ERC20 Tokens list (accessed 16.07.2019)

10 Best Ethereum Based Coins (accessed 16.07.2019)

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5 Ethereum Based Products: Market Cap, Coins, Smart Contract was originally published in Data Driven Investor on Medium, where people are continuing the conversation by highlighting and responding to this story.