The universe of blockchain wound up in turmoil in 2017. We saw the pinnacle of the ICO craze, the mind-blowing Bitcoin value moves, the presentation of another, possibly transformative innovation, such as decentralized trades and, obviously, a couple of eminent occasions of blockchain hacking.
However, what does the future hold for decentralized records? Will 2018 be the year when blockchain innovation achieves a basic purpose of selection?
For those who don’t know what we’re talking about, Ripple’s token (XRP) was worth $0.0060 toward the beginning of 2017. Presently, its value floats around $1.00.
The cryptocurrency raised in cost by over 1,000% in December. Yet, it appeared that dramatic rise was the result of a certain rumour. Some crypto-lovers estimated that Coinbase, one of the biggest crypto trades on the planet, was going to list the token and empower its consistent trade for fiat currencies.
There were even pictures and videos going around the internet, that as far as anyone knows demonstrated the claim. Nonetheless, as it turned out later, these materials were phoney.
What occurred next was something that’s common for the blockchain space: Uneducated financial specialists came in large numbers to purchase the promising token without seeing unmistakably if there’s any utility to it.
Tron, a $14 billion ICO that, starting now, has no working product, is likewise a case with reference to how theories can influence the cryptosphere.
Having only a whitepaper and an ETH token, Tron figured out how to influence TRX to soar 3,650% in only one month. This sensational leap forward occurred because of some splendid showcasing by Tron originator Justin Sun, who was mentioned in Forbes’ 30 under 30 on two separate occasions, and furthermore as a result of John McAfee, who adulated the coin on Twitter, secretly promoting it to his 500,000 adherents.
Not long after that tweet, the cost of TRX raised from $0.04 to almost $0.29, and the coin made it to the list of the best 10 cryptographic forms of money.
A couple of days after that, notwithstanding, Tron got huge amounts of the pessimistic press as individuals began spotting copied text in its whitepaper, and the cost of TRX dove back to under $0.10. So, lots of people lost a lot of money.