Blockchain is evolving to be one of the most beneficial technologies. With this, the number of cryptocurrencies to invest in is endless. Some proving to be more superior than others, but nevertheless, all should be followed to find out if they will be worthwhile in the long run. Just as you would with real estate investments, this decision cannot be rushed. This article will give you an insight into the cryptocurrencies with potential.
Since the launch of Bitcoin, ten years ago, there have been thousands of cryptos created. Each with a different and unique feature, but which ones are most likely to change the world?
Zcash is very new to the market, however, it has already covered several grounds in such a short span of time. It is a decentralized blockchain which provides anonymity for its users and their transactions. Zcash was founded in 2016 by Zookoo Wilcox-O’Hearn, with the aim to address the open financial system with a privacy feature that many internet users wanted. It wants to seek the same structure that Bitcoin has in the financial system, but with the added benefits of privacy and fungibility.
Ox is the latest trending cryptocurrency, grabbing the attention of investors and traders. It is a decentralised exchange platform for trading ERC20 (Ethereum Request for Comment) tokens. It allows users to directly place orders from their Ethereum wallets. Ox is made using a protocol which allows those around the world to run a decentralised exchange.
Stellar was founded in 2014 by Jed McCaleb and Joyce Kim. At launch, it was based on the Ripple protocol but the network eventually forked. Stellar is an open source protocol for exchanging money where servers use the internet to connect to and communicate with other Stellar servers, forming a global value exchange network.
Komodo provides Bitcoin-level security through dynamic checkpoint notarisation. It is a privacy-centric coin that promises to be a safer and faster cryptocurrency which will be decentralised and have its own ecosystem. Komodo allows users with average equipment to compete with those using specialised, expensive equipment. The blockchain uses Komodo’s open source crypto for completing private and anonymous transactions.
Cardano like Ethereum is a smart contract platform which offers scalability and security through layered architecture. It is home to the Ada cryptocurrency, which is used to send and receive digital funds. Cardano is the first and only blockchain to be designed and built by a global team of leading engineers and academics. The goal for Cardano is to bring greater financial inclusion to fair financial services by providing open access.
Binance Coin (BNB)
Binance Coin is not just the world’s largest crypto exchange, it is also the name of a coin too. The coin runs on the Ethereum blockchain and has a strict limit of maximum 200 million BNB tokens. It is expected to fuel the operations of Binance and its ecosystem which include paying for exchange fees, listing fees and trading fees.
Veritaseum builds blockchain based, peer-to-peer capital markets on a global scale as software. It offers a software which will have two major components, distributed and centralised. Veritaseum says: “We are taking a wide swath of assets and exposures and placing them on the blockchain as autonomous software that seamlessly connects to parties without the need for a 3rd or authoritarian interest. Any entity with internet access can participate in these capital markets on a peer-to-peer, over-the-counter, and one-on-one basis”.
Ripple is a real-time gross settlement system (RTGS) developed by the Ripple company. It is also referred to as the Ripple Transaction Protocol (RTXP) or Ripple protocol. It can trace its roots to 2004 when a web developer called Ryan Fugger had the idea to create a monetary system that was decentralised and could effectively allow individuals to create their own money.
Populous uses blockchain with its peer-to-peer platform to provide an efficient way for small and medium-sized enterprises to participate in invoice financing. Meaning that buyers and sellers can exchange invoices using smart contracts within populous. By using invoice financing, enterprises can sell outstanding invoices at a discount price, which allows them to quickly free up cash. Populous aims to take over the invoice financing industry with its blockchain based credit scoring system.
Monero is a private, secure and untraceable system. It is a “decentralised cryptocurrency, meaning it is secure digital cash operated by a network of users. Transactions are confirmed by distributed consensus and then immutably recorded on the blockchain. Third-parties do not need to be trusted to keep your Monero safe”. A special feature on Monero is that users have complete control over their transactions. Their identity is private, meaning no one else can see what they are spending their money on.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.