The cryptocurrencies you’ve never heard of that are giving massive returns
The cryptocurrency market has seen massive growth in 2017, with the market cap of major coins like Bitcoin and Ethereum breaking all-time highs.
The two blockchain-based currencies are popular among investors and have a dominant market share, but there are smaller coins which have seen even bigger percentage growth this year.
Using price and market capitalisation data from CoinMarketCap, we compared the price of various cryptocurrencies at the start of 2017 against their trading value on 11 September to determine which coins have made big gains this year.
Several of the best-performing cryptocurrencies of 2017 are listed below.
Monero (XMR)
- 1 January 2017 – $13.79
- 11 September 2017 – $112.27
Monero is an open-source cryptocurrency which focuses on privacy and security. It is based on the CryptoNote protocol and allows for the implementation of anonymous transactions.
Litecoin (LTC)
- 1 January 2017 – $4.33
- 11 September 2017 – $66.59
Litecoin is similar to Bitcoin in design and is intrinsically a payment network, although its blockchain is more decentralised and has progressive scaling solutions.
OmiseGO (OMG)
- 14 July 2017 – $0.522062
- 11 September 2017 – $11.24
OmiseGO is an ERC20 token, which means it is built on the Ethereum blockchain and functions through smart contracts.
OmiseGO is a high-volume, low-cost e-wallet and transaction service which uses OMG tokens as a store of value.
Golem (GNT)
- 1 January 2017 – $0.009733
- 11 September 2017 – $0.297
Golem tokens are built on the Ethereum blockchain and are awarded to PC owners who contribute their processing power towards the Golem network.
The network is designed to be a decentralised supercomputer powered by multiple independent nodes, which are awarded tokens according to the resources they contribute.
Ark (ARK)
- 21 March 2017 – $0.4272
- 11 September 2017 – $3.04
ARK is a decentralised blockchain provider which aims to be the “Google of blockchains” by connecting existing blockchains and enabling the transfer of value across multiple connected platforms.
Lisk (LSK)
- 1 January 2017 – $0.157053
- 11 September 2017 – $6.66
Lisk aims to develop a modular blockchain application platform which uses an SDK written in JavaScript to create blockchain networks and decentralised applications similar to Ethereum’s dApps.
NEO (NEO)
- 1 January 2017 – $0.144763
- 11 September 2017 – $22.25
NEO attempts to improve on Ethereum’s blockchain model and add support for decentralised identification, commerce, and asset digitisation systems.
Decred (DCR)
- 1 January 2017 – $0.4837
- 11 September 2017 – $27.50
Decred is a multi-platform blockchain which offers increased accessibility and a hybrid consensus system, which includes proof-of-work and proof-of-state models.
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