The cryptocurrency market still has the greatest potential in spite of the declines that have dominated the market in 2018. In fact, some experts have come out saying that when the market is in a bear phase, that it the best time to develop and push for adoption. New projects continue to launch each month while the existing projects are becoming mature. Moreover, if a bubble did not happen during the declines from the all-time high, it means that the crypto industry is unstoppable and its growth has not limit, at least for now.
For this reason, it is important that investors take their positions in the market and specifically in coins that have great recovery potential like Ripple (XRP), Dogecoin (DOGE), Bytecoin (BCN) and Aurora (AOA). In this article, we will explore the reasons why Bytecoin and Aurora are recording double digit gains and if this growth can continue in the coming months before the end of 2018.
This cryptocurrency is in the category of privacy-focused digital assets. It utilizes a technology referred to as CryptoNote ring signatures to achieve anonymity in transactions on its network. The use cases of Bytecoin resemble those of Bitcoin (BTC); a peer-to-peer (P2P) system that supports payments on the blockchain.
Bytecoin was first introduced in 2012, making it one of the earliest digital assets to be created after Bitcoin. At the beginning the founders of the platform remained anonymous but they recently revealed their identities. This has allowed the crypto to be more appealing to the customers encouraging an ecosystem through the setup of social community channels.
How Bytecoin Works?
The protocol utilizes the ring signature in signing transactions of every unique user on behalf of the group. As a result, Bytecoin is able to achieve a robust as well as completely untraceable payment network. Moreover, these transactions are delinked from one another as opposed to other blockchains like Bitcoin. Delinking ensures that no one can view the details of a transaction online i.e. on explorer. All users are assigned a one-time address that is created from the users’ public key.
Why does Bytecoin Deserve Your Money?
Bytecoin is among the best perfuming cryptocurrencies in the market at the time of writing with a 17.39% gain in the last 24 hours. While the entire market is performing relatively well due to the retracement from the lows traded last week, Bytecoin is up with double-digit gains. BCN/USD is changing at $0.0015 with a trading volume of $2.4 million. The network is currently renegotiating the listing on Binance, the largest exchange. If BCN can be relisted again, a pump is expected to lead to more gains. Besides, the other ongoing developments, Bytecoin has a great potential towards the end of this year.
Aurora (AOA) was introduced in the market in May 2018. It was launched as a smart contract building platform. The website states that “Aurora makes a breakthrough in the Blockchain world. By applying DPOS+BFT consensus mechanisms, we create lightning-fast contracts to link industries such as gaming, big data, artificial intelligence and IoT.” The platform is robust enough to bring a unique intelligent isolation that enables the special multi-chain parallel expansion in addition to limitless scalability in terms of transactions per second (TPS). Moreover, the team guarantees utmost security while utilizing the DPOS + BFT (Byzantine Fault Tolerance) consensus algorithms.
The use of these two consensus mechanism also ensures that the network speed is fast and without any down times. Likewise, the risks associated with forking are kept at bay if not to the minimum. As a decentralized application building platform, Aurora has the potential to compete with legacy platforms like Ethereum (ETH). The biggest issue among existing cryptocurrency platform is scalability. Aurora has addressed this issue by incorporating the best feature of two consensus mechanisms.
Why Aurora (AOA) Deserves Your Money?
Aurora (AOA), just like Bytecoin (BCN) is recording double-digit gains on Monday 10. AOA/USD is trading below $0.025 following a 22.65% surged in the last 24 hours. It has a market cap of $90 million with a 24-hour trading volume of $821,945.
Aurora is still a young cryptocurrency project that has within a short time become a top 100 asset by market cap. It is ranked 69th according to the data on CoinMarketCap. The crypto has a vibrant community that is very supportive. At the same time, the team is very prompt with the updates while the 2018 roadmap is on track. The future of this digital asset is bright and immense, definitely a must buy coin.