The 21st century has witnessed the birth of an entirely new economy and technology. It is almost like the industrialization era all over again, but this time everything is on software. Bitcoin was the first virtual currency, however, since 2008 the world has witnessed the growth of the cryptocurrency market with the introduction of over one thousand digital assets. CoinMarketCap has listed 1597 assets and the number keeps growing, not to mention the many projects still at ICO stage.
The cryptocurrency market is currently worth $236 billion, besides this a tremendous drop from the market capitalization at the beginning of 2018. However, what does this mean for the investor? This article will explore two of the most promising coins this summer; INS Ecosystem (INS) and OmiseGO (OMG) in a bid to help the investor make informed decisions on which asset to buy.
INS Ecosystem (INS)
The INS Ecosystem is a project that is reinventing the grocery industry in the world. It has envisioned a situation where brands interact directly with the customers or in this case the consumers. The focus is mainly on the next generation audience by employing data-driven personalization techniques. The team is made up of professionals vastly experienced in the sector from all over the world.
There is need to bypass the wholesalers and the retailers in the market in order to make basic goods from the manufacture affordable. INS Ecosystem also allows the brands to have a productive business due to the direct connection with the consumers. Reviews of various brands can be accessed easily on INS Ecosystem platform making the marketing efforts by manufacturers much more effective. The brand owners now have a chance to tailor their services to the needs of the consumer without having to consult with a third party.
The team at INS Ecosystem is currently working on the development of the INS buyer and satisfaction applications and interface according to the roadmap. Scheduled in the third quarter of 2018 is the development of the provider SDK and finally, the INS platform will be officially launched in the third quarter of 2018.
INS Ecosystem price is changing hands at $0.57 while the charts show a 9% drop in the last 24 hours. The project has a market capitalization of $17,334,216 and is ranked 287th in the market. The total supply is 50 million INS token while 30,300,918 INS tokens are currently in circulation.
OmiseGO is currently ranked the 21st crypto in the market by market capitalization. It is trading at $6.83, although it is correcting lower. OMG/USD is down 5.28% in the last 4 hours. It has a market cap of $ 696,450,620 and a trading volume of $26,512,000 according to the trading data in the last 24 hours.
This cryptocurrency was developed to bring financial inclusion interoperability to all people across the world. It is designed to execute on Ethereum blockchain while ensuring the highest scalability on the OMG network. It also makes it possible to have peer-to-peer transactions that are reliable and transparent and most importantly instant. It transcends geographies, all asset classes, and other applications.
Ethereum is working on increasing its scalability using the Plasma architecture. OmiseGo has positioned itself at the forefront of the Ethereum Layer 2 scalability solution. The platform is decentralized and works on the basis of proof-of-stake and will integrate the infinitely scalable Plasma solution.
The team is also working on more exchange listing to ensure that the demand of the coin continues to rise and in turn raising the value. They have recently been listed on one of India’s largest exchanges, Unocoin. The listing has opened up OmiseGo to a whole new market in Asia in addition to having more trading volume that is already evident.
OmiseGo is also preparing for a hardspoon with another digital asset called Cosmos. A hardspoon refers to the merger of two coins to create a new digital asset that has the features of both of the coins. The balances of the two assets will become one which means that the final market capitalization will be much more and OmiseGo could bypass a number of coins in the market from its 21st position.