Peeking into the Future of Cryptocurrency with Binance and Coinbase. Part 2

in coinbase •  2 months ago  (edited)

Welcome back!

In Part 1 of this peak into the future article, I laid out the foundation that the two biggest USA exchanges had announced new coins added to their portfolio. These are worth a special note as the US has the strict SEC looking into crypto now and I know that these exchanges must bring the best new tech to market, but they must also follow a lot of regulation over there in the good old USA. 🇺🇸

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That makes them the best coins to study right now, as they are backed by the two biggest forces that affect this space at the moment: Big exchange backing + Big eyed SEC.

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Yesterday I used a different pic and it didn’t include any of that text. I know it’s a bit blurry as I edited it, but it’s still readable and extremely useful (and bold, but that’s coinbase all over) because it’s hinting that these coins Are the future as they pass All applicable laws...Hmmm not some but all applicable laws.

That statement comes after the more enlightening one that says Coinbase are looking and launching new assets that are not available to their customers anywhere else...

If that’s not a shot into the future from behind the scenes at Coinbase, I don’t know what is.

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So let’s start here, Binance has only advertised previously known coins, so if your anything like me, you are probably more interested in these new offerings sometime in the future at Coinbase. As far as I’m aware most of these are completely unheard of, except for filecoin and gram, I’ve heard little snippets about.

The Future according to Coinbase
I’m so excited to be looking at these coins so far ahead, that way we can see what’s coming and position our investment strategy accordingly or simply get an idea on what projects are setting the new trend for crypto and it’s ever brightening future.

Avalanche - AVA

Ava Labs - No Website as of writing this

This coin is so new they only have news updates as they are still in testnet stage, however the $6 million that Ava Labs raised in February made reputable names in the venture capital and cryptocurrency spaces Andreessen Horowitz, Polychain, former Coinbase CTO Balaji Srinivasan, Metastable, Initialized and Ramtin Naimi of Abstract Ventures take notice and back it up with funding.

AVA is PoW coin but is far faster and scalable according to its founder Cornell professor Emin Gun Sirer. So it’s another academic professor on the scene like ADA has and similarly this is its own protocol as well.

Thus it has a big interest within the academic world in exploring consensus protocols that serve the same purpose of proof-of-work, such as securing transactions, but it’s way more energy efficient and includes more of the users in the consensus process.

That definitely has a reward based community baked into the recipe then making it safe and transparent. Any apps or work performed on the blockchain will get shared around to everyone holding coins.

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There is something else to AVA which apparently is debatable as to whether you can do it or not, and that is, offering a “heterogeneous network,” allowing nodes across the system to have different properties. Or in other words it will be compatible with other protocols, thus it’s hetero not homologous, this means it could lead to letting different groups in the network “plug-and-play” different features.

Well I hope that’s true! Eth dapps running into AVA for example? Hmmm interesting.

So this coin solves bitcoins scaling and cost issues and rewards the community for PoW by the sounds of it. Backed by former CTO of Coinbase, so he made sure it was good enough for them and the US SEC. Stay tuned for more info 👍🏼

Celo
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I discussed Celo yesterday, it’s a stablecoin based blockchain and is built for mobile devices, so it’s a light fast network, designed to send money safely between fellow users when your on the go. Perhaps the next Apple Pay?

I thought I would show you the financial backers of Celo coin as it has some of the same people on there as AVA, notably Andreessen Horowitz, Polychain and Coinbase! I knew I would find a trend, but I didn’t think it would be this one?

The first two coins are all backed by the same people! At least we now know what these guys are looking for, plus on Celo I notice:

Reid Hoffman who started LinkedIn

Jack Dorsey who co founded Twitter

Naval Ravikant who is founder of AngelList

So I have to say, I really DO like Celo

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These guys are pretty sharp on the tech front and have launched huge multi billion dollar businesses, so I think their expertise is warranted here.

It’s also Awesome that they are here coming to this space! I am happy to see these established players entering into this space, let’s see if they are on one more of these coins, before I wrap up this article for the day!

Chia
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Chia.net

Multi Social Media channels

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Well you could win a share of $100,000 with this coin. No bull either, they want you to share some of your hard drive and farm out Chia with Proof of Space!

Luckily for me, Chia had already thought of all the questions I wanted to know about it’s coin and protocol, so sit back and relax and read these sexy screen shots taken from their website.

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So here is the summary on this coin and it’s aim for the future:

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So have a guess what? Have a look at who the biggest financial backers are...

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That’s Naval Ravikant who is founder of AngelList

That guy again, Andreessen Horowitz he and his brother own AH Capital in California. He is blowing up Venture Capital and he is focussed very firmly on crypto. He seems very smart and I love his tag line ‘Software is eating up the world!’

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Is this the future?

Well it looks like the same handful of guys have got their eye on what the next gen of crypto platforms should look like and act like. These are smart guys who know how the government works as they have big tech businesses outside of crypto.

This could be the marriage that cryptocurrency needs! With more established players in the space, we should have better tech with more safety and regulation so that pump and dump schemes or vanishing website developers are a thing of the past.

Tomorrow in part 3 I will break down more of these new coins/ projects and see what else we can uncover...

Till tomorrow! Peace ✌🏼 ☮️

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