With all the madness surrounding cryptocurrencies, it’s hard to miss the new players that are brought into the game. But if you were too focused on checking Bitcoin or Ethereum, here are the newest cryptocurrencies that entered the market this.
Cardano – Is a third-generation cryptocurrency and the first blockchain project to be created from scientific philosophy and built on peer-reviewed academic research. So no wonder that it was named after Renaissance mathematician Gerolamo Cardano.
Scratch ideas were released in 2015 and the prime focus was to renew the market by providing a more balanced and sustainable ecosystem that users would embrace right away. To do so, engineers deleted everything that they knew about, ideas and design principles, and gave birth to new areas of exploration. We include here separation of accounting and computation into different layers, implementation of core components in highly modular functional code or development of a decentralized funding mechanism for future work.
This project has flexibility, a vital aspect in a market that depends on so many variables. To adapt to what 2018 could mean for cryptocurrencies, Cardano uses Haskell, a programming language with a high degree of fault tolerance.
Built on multiple layers, the smart contract platform has two protocols – Cardano Settlement Layer, which handles the balance ledger and transactions, and Cardano Computation Layer, the place where decentralized apps and smart contracts built on Cardano will be based and can operate separately to the Cardano Settlement Layer.
KodakCoin – Is the “baby” of Kodak, and should provide an independent blockchain platform that will ensure a secure method of digital rights management for photographers. But for now, KodakCoin is inactive, although things should have been all ready and set at the end of January.
More than 40,000 investors who had signed up to participate in the initial coin offering were surely disappointed when the company announced that it wishes to verify the ‘accredited investor’ status of each interested investor, a process that could go on for weeks.
Petro – Was launched in February and it’s Venezuela’s own cryptocurrency. There are 82 million tokens for the take, after the government’s planned initial coin offering (ICO) that should take place in March. Supposedly it is backed by the country’s oil and mineral reserves, but if you try the other way around, to change Petros for physical materials, then we have some bad news for you.
Petro Gold – One day after launching Petro, Venezuela issued a statement saying that the country will release another cryptocurrency, also backed by the nation’s precious metals. For now, the project is on hold.