We’ve released a massive batch of 4 new crypto tokens this month to our EEA customers! Unless you’re a crypto expert, you'd be forgiven for scratching your head at a lot of this new lingo.
You might have a few questions like - What is a dApp? What does the “Craigslist” of blockchain mean (and why do so many crypto companies try to compare themselves to older tech companies)?
We’re here to answer these questions with a very high-level guide to these new tokens! We’ve also provided links to more materials for those who want to read more.
EOS is a blockchain-based system that enables the development, hosting and execution of decentralized applications (called “dApps”) on its platform. EOS focuses on critical pain-points of blockchain and attempts to solve the problem of speed, scalability, and flexibility that often become a bottleneck for dApps.
Market cap: $2.4bn
OMG Network (OMG)
The vision of Omise is to integrate multiple electronic wallets using the OmiseGo blockchain. Over time, as more e-wallet providers are added to the network, and more of the crypto assets they issue can be exchanged on a blockchain, OmiseGo believes it could help provide banking services to those who have been excluded from the financial system. This means every time you use an OmiseGo contract, you need to pay in OMG, which is then distributed to nodes on the network that enforce contracts according to the rules.
Market cap: $477m
0x is one of the most high-profile ‘decentralised exchanges’ (as opposed to a ‘centralised exchange’ like Coinbase). 0x allows developers to build their own cryptocurrency exchanges. The company’s founder refers to his solution as the “Craigslist for cryptocurrencies” in that any developer can build their own cryptocurrency exchange and post it online. The 0x coin is an ERC-20 token that provides a platform with an ability to support all of the tokens issued with the Ethereum blockchain.
Market cap: $270m
Tezos (XTZ) is a blockchain network linked to a digital token, which is called a tez or a tezzie. Tezos isn’t based on the mining of tez. Instead, token holders receive a reward for taking part in the proof-of-stake consensus mechanism. The term “Tezos” is ancient Greek for “smart-contract,” according to the developers.
Market cap: $1.71bn
The information above was current at the time of writing. Check out this link to see up to date data on all of our new tokens.
Join Revolut for Free
Manage your everyday spending with powerful budgeting and analytics, transfer money abroad, spend easily in the local currency, and so much more. Join 10M+ already using Revolut.