These are the 3 coins to watch for May 2019 - Cryptocurrency

29 Apr, 2019
by Will Heasman
Analysis
These are the 3 coins to watch for May 2019 - Cryptocurrency

What are the cryptocurrency projects that are planning big releases, upgrades, updates or even mainnet launches in May? Which coins are worth keeping an eye on? These are the three coins to watch for in May…

April proved to be an extremely bullish month for a myriad of cryptocurrencies, with many citing gains upward of 20% - this percentage being more impressive before the latest shakeout from alts - still, major altcoins such as Ethereum (ETH) cite gains of +23% Litecoin (LTC) is up 25%, and, not to toot our own horn or anything but one of our picks from last month, Binance coin (BNB), is up 37%. You’re welcome…

So what’s on the schedule for this month? While alts look set to take a tumble, some may be spared for the worst of the fall, simply due to their continued building. So with that in mind, Chepicap brings you the 3 coins to watch for May… 

First up: 

TRON (TRX)

Tron aims to be a world leader among digital entertainment distribution, vying against (and climbing over the cold dead corpses of) contemporary decentralized app (dApp) platforms such as Ethereum, with hopes of reigning supreme.

Like it or not, Tron knows business. This month alone the project is planning a giveaway of $20 million dollars in bonuses, planning the release of a second layer scaling solution and facilitating the move of a few ETH turncoats over to its mainnet…

$20 million USDT incentive

Back in March - Tether the company behind the stablecoin USDT - announced that it was looking to extend its global reach by issuing a US dollar pegged TRC-20-based token, upon the Tron blockchain.

However, the announcement of this wasn’t enough for Sun, who clearly felt the need to add a little more sparkle to proceedings…  so how do you add sparkle to the creation of a stablecoin? A $20 million incentive scheme of course!

 In essence, The incentive plan encourages USDT holders to convert into USDT-TRON by offering fairly decent interest rates, paid without fees in USDT-TRON.

Token holders will also receive an airdrop bonus on a daily basis with up 20% annualized bonus rate, starting on April 30th and continuing on until August 7th:

According to the campaign, USDT-TRON holders will be rewarded with 20 million USDT for 100 consecutive days, distributing the tokens via partnered exchanges, Huobi and OKEx.

(Look at that face. That is the face of a man who wants you to buy his stablecoins…)

Sun Network testnet

Speaking of Sun, on the 30th of May, Tron releases it’s own layer 2 scaling solution named eponymously after the Tron CEO – think the Bitcoin Lightning Network only with an ever so slightly arrogant twist …

The Sun network aims to scale Tron to a point at which transaction bottlenecks are a thing of the past and traditional payments solutions, such as Visa, pale in comparison... or something like that.

Read more: Justin Sun announces that SUN Network is nearly ready for launch

As Sun puts it the layer 2 solution aims to provide the Tron blockchain with a 100x scalability:

Despite the aforementioned nod from Sun to Tron releasing more details

Not much is actually known about the sun network, bar the tidbits that Sun has relayed via his Twitter.

Here’s what we know:

It won't have its own token, (if it needs a token it’ll utilize TRX or BTT) it will expand the overall capacity of Tron, improve its overall transactions per second (TPS) and increase smart contract efficiency, all without requiring a mainnet upgrade…  

The lack of hype is highly unusual for a man that has a habit of announcing announcements… 

(Keep doing you, Justin)

Next up:

Aeternity (AE)

Our next coin to watch out for in May is Aeternity, an open source blockchain platform with a heavy emphasis on smart contracts, Aeternity works mainly in coalition with, and for the management of, dApps - much like its contemporary Ethereum (ETH).

Its perhaps no that wonder Aeternity shares fundamental similarities with Ethereum, after all, the project was founded by the self-professed “godfather or Ethereum, Yanidalve Malahov.”

(Malahov and Vitalik Buterin, up high somewhere)

Malahove worked alongside Ethereum creator, Vitalik Buteriun as co-lead developers on a project known as Keidom (now called ascribe.io). Malahov relays that the pair once shared a conversation about Mastercoin (now rebranded Omni) which **may** have led to the birth of ETH. Hence, “The Godfather of Ethereum.” 

Read more: Ethereum might be in the early phase of a massive rally

However, the accolade of helping nurture one of the most famed cryptocurrencies in the world wasn’t enough for Malahov, and he subsequently went on to create Aeternity, a scalable dApp platform with a focus on interaction with real-world data.

Minerva 2.1.0: Aeternity’s (2nd) hardfork

Aeternity is a notable coin for next month because of its upcoming hardfork, which is set to take place on the 28th of May. This is Aeternity’s 2nd hardfork this year, the first of which took place in February.

The first hardfork was responsible for migrating AE tokens to the mainnet, as well as making improvements to the Aeternity's version of the Ethereum virtual machine (AEVM) and  Aeterinity’s state channels.

In total there will be 3 hardforks this year, marking several phases in the full realization of the aeternity blockchain; each expanding and improving the features of Aeternity. 

Aeternity moves into phase 2 of 3 next month with the launch of Minerva 2.1.0 on the 28th May.

Last, but not least:

Aion (AION)

Aion dubs itself as a “3rd generation blockchain network,” the first being Bitcoin and its enablement of peer to peer transactions, the second being Ethereum, and its software development platform, and the third, aimed to improve upon everything the first and second generations provided, but without those pesky governance or scalability issues.

As such, Aion classifies as such as blockchain 3.0, aiming to provide not only peer-to-peer transactions and smart contract operability but also cross-chain interoperability for communication across several blockchains. In other words, Aion aims to be a bridge between all other blockchains.

So, why is Aion a coin to watch for May?

Aion Virtual Machine release

The release of Aions highly anticipated virtual machine, takes place (sometime) in mid May. The project calls the Aion Virtual Machine (AVM) “the first major milestone of 2019” priming it to be a pretty big deal for the project going forward:

As per the project whitepaper, the AVM is a Turing complete smart contract execution engine, fundamental to the Aion network. The AVM enables developers to build blockchain-based applications in Java. The ease of access allowed by Java enables further appeal to mainstream developers, encouraging migration to the Aion blockchain. The use of Java also has the added benefit of preserving compatibility with tools currently used within Java-based coding. 

The AVM has been running primarily on a testnet in order to work out its kinks before formal launch, and it appears that time has finally come…

(“Hello World!” program from the AVM)

Speaking at the REBUILD conference 2019, AION founder and CEO, Matt Spoke ran through some of the aforementioned benefits of the AVM, highlighting specifically the usability accessibility of Java, which Spoke believes will nurture developer adoption.

Spoke also notes the project’s creation of secure java smart contract templates, such as non-fungible tokens, multi-sig wallets almost others to enable further adoption and ease of use for developers.

On top of this, the AVM also boasts a “suite of API’s” (application program interface) – a set of protocols and tools used for building software applications – many of which Spoke states are currently popular within the Ethereum ecosystem.

That concludes our coins to watch for May, join Chepicap next month for more cryptocurrencies to keep tabs on!

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Disclaimer:

This is not investment advice, price doesn’t always react to developments - this is simply an overview of coins that could be in the spotlight the next month.

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