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The launch of Bitcoin (BTC) not just created a cryptocurrency but also put a spotlight on blockchain technology. kickstarting an entirely new industry comprised of companies developing applications underpinned by blockchain. In the last couple of years, hundreds of blockchain startups have been launched. Let’s take a look at some of the most innovative of them.
Crypto.com
Recently purchased by Monaco, crypto.com wants to help people spend cryptocurrency in retail. It works by issuing a special cryptocurrency-compatible Visa credit card. The startupalso has a cryptocurrency exchange platform and an online wallet. Crypto.com has started issuing Visa cards in Singapore after a successful ICO last year. It now plans to move to other Asian countries and eventually spread around the world.
OmiseOG
A white-label platform for running smart contracts and cryptocurrency wallets, OmiseGO acts as a decentralized bank, exchange, and asset-backed blockchain gateway. Operating in various countries, it facilitates banking services for individuals and entities that cannot access them due to barriers to entry, hence acting as a platform that interconnects payment systems like PayPal and Visa with blockchains such as Ethereum.OmiseGO is currently working on its own network called Tesuji Plasma which is expected to solve its scalability issue. Moreover, Tesuji will use Proof-of-Stake to speed up and lower the costs of transactions.
Stellar
A network of decentralized servers around the world, Stellar facilitates cross-border money transactions. With a non-profit organization behind it, the project aims to create a financial system that executes transactions quickly and at low cost. Users can send and receive money in any currency using Stellar. The money is converted into Lumens, its native token by the network, and is then converted into the receiver’s fiat currency at the best possible exchange rate. Nodes in the network called “Anchors” make the transaction possible. Anchors are trusted nodes in the Stellar ecosystem that issue credits in exchange for deposits and help execute transactions within seconds.
Keep watching this space for more.
