Most of the cryptocurrencies have had a tough 2018, and investors are challenged in finding the next gem that would guarantee great returns. Many altcoins have mirrored Bitcoin in its price declines, losing over 50% of their value over the first half of the year. The continuing bearish trend sees many cryptocurrencies lose value every other day. Even so, there are a few coins that show signs of great promise and could be very lucrative should the market sentiment begin to head north.
The two are Qtum and OmiseGo. Let’s see how they compare and what makes them worth an investment.
Qtum vs. OmiseGo- Market details
Qtum and OMG are ranked 19th and 21st in the market. Here are the market details that indicate both coins have strength going forward.
QTUM has a total of 100,661,264 coins with a current circulating supply of 88,661,264. OmiseGo, on the other hand, has a total supply of 140,245,398 coins and a circulating supply of 102, 042,552 tokens. Currently, Qtum has a market cap of $1.04 billion and an average daily trading volume of $128 million tokens. On the other hand, OMG has a market cap of $970 million and a slightly lower daily trading volume of $50 million over the last one month.
In terms of price, Qtum is valued at $11.73 and has dropped by 6% and 17% over the last 24 hours and 7 days respectively. OMG is valued at $9.51 per token unit and has lost value by 6% and 16% over the last 24 hours and 7 days respectively.
The two coins share a similar market trend and could see corresponding price trajectories. However, with a lower total supply and higher trading volumes, Qtum appears well-placed in terms of a better market cap.
Qtum vs. OmiseGo: – who has an edge?
Qtum and OmiseGo are two different projects and as such may not share much in terms of the technology behind them. However, Qtum is a standalone blockchain while OmiseGo is an Ethereum-based platform.
Qtum is a peer-to-peer cryptocurrency that is built on the strength of Bitcoin’s technology and the smart contracts capabilities of Ethereum. It has the capacity to be used for creating and deploying decentralized applications. Qtum is becoming attractive to many developers due to its versatility and flexibility.
Qtum going forward
There are a number of exciting projects coming up for Qtum that could drive up the platform’s adoption. These are – Qx: A Decentralized Transaction Protocol, QDex: A Decentralized Token Exchange, and Qrypto; Browser Wallet Management Plugin among other interesting projects.
The team recently unveiled its x86 Virtual machine that allows developers to build on top of the platform using the QRC-20 token standard. Qtum also uses the Simple Payment Verification (SPV) protocol and aims at keeping the network decentralized. It also wants to allow anyone to create and deploy smart contracts, including to those users from a low bandwidth environment.
The OmiseGo network lives on the Ethereum blockchain and has long been seen as the first step in Ethereum’s attempts to tackle scalability issues.
The PoS OMG blockchain is 100 percent public, and will soon launch its “Honte” network in preparation for plasma. This decentralized exchange platform is also building an open-source fiat and cryptocurrency wallet SDK for ease of access. Apart from the DEX, OmiseGo is a clearinghouse messaging network as well as a digital asset gateway.
OmiseGo going forward
The most anticipated event for OmiseGo is the plasma launch expected at the end of June. OmiseGo is also very active in getting their presence felt in the market. Recently, the team collaborated with Neutrino to bring blockchain engineers, innovators, and entrepreneurs to the OMG platform in Singapore.
Earlier, the platform had secured a partnership with Electrify.Asia to provide a marketplace for sharing electricity as well as tackling issues related to electricity. What’s more interesting is that Electrify. Asia is also working with Neutrino. The OmiseGo team has also been working with Cosmos towards a “hard spoon” that will result in the creation of a new coin.
Who has the edge?
Qtum holds an advantage over OmiseGo in terms of being on its own blockchain and with several projects already launched. OmiseGo too has a positive outlook, especially if its plasma release succeeds. However, in terms of the race to $20, $50- QTUM should stay ahead.