6 super cryptocurrency opportunities
Developers of code for cryptocurrencies usually have other goals in addition to the main task - the creation of a new virtual unit.
- This can be the calculation and development of a fundamentally new mechanism for conducting transactions with a high speed of execution and minimal commission.
- Or a higher level of security when making payments, regardless of the scale.
- Or, for example, the privacy of financial transactions - a condition that is very much in demand in the investment world. Each of these points is worth exploring in more detail.
In this case, when talking about the prospects of cryptocurrency, we will take as a basis exactly the innovation - the technology or the angle of view that is atypical for the capital market. The profitability of the most promising cryptocurrencies from this point of view is just gaining momentum, the potential for increasing the profitability of positions is enormous, but to notice it, you need to take a broader view.
Monero - private and anonymous
So, it is worth starting with the latest technologies, since we are talking about progress in the world of development. A vivid example of a promising cryptocurrency in this case is Monero. First, it is not a "tracing stone" of bitcoin and is an independent virtual currency. Second, it The feature is privacy and anonymity. Transactions pass through the CryptoNote protocol, its code involves the use of one-time keys and a circular signature format. Monero is already used as a virtual unit of payment within the Internet space and various network markets, which gives it a good advantage over others.
IOTA for the Internet of Things
Or, for example, IOTA. When creating the cryptocurrency, the developers set themselves the goal of organizing a fundamentally new space - Internet of Things. The specifics of the code enable deeper communication (use) of various gadgets on the Internet. The digital currency itself is a crypto-jeton, which allows to pay on the Internet of Things. The code is written based on the Tangle system, which removes the need for users to pay transaction fees and increases the speed of payment.
NEM - transparent cryptocurrency
Cryptocurrency code can be either completely closed or completely accessible. This is not synonymous with insecurity - it is also a new approach. It is used in the Japanese cryptocurrency NEM. The use of open-source code can further contribute to the modification of the unit of payment. NEM is written based on the POI (Proof Of Importance) algorithm, one of the three most common algorithms. POI is a relatively new algorithm, it allows the use of modern generation methods and thus provides protection against tampering or changing blockchain codes.
All three of these cryptocurrencies are certainly promising. The more dynamically the development of producers will be promoted, the higher will be the demand for these virtual means of payment.
Ripple - unique transactions
The specifics of payment are of great interest to the creators of cryptocurrency. That's how the Ripple. This is not just another virtual financial unit, but a fundamentally new monetary system. Its essence is a unique transaction protocolwhich gives even greater security than before, the possibility of instant conversion with lower fees and virtually unlimited transaction volumes.
The Ripple system uses a distributed ledger approach, which opens up the widest field for the development of this algorithm in financial transactions. The strategy has already been evaluated by global banks. This means that the prospects here are more than serious.
Bitcoin is free money
Above, we looked at those cryptocurrencies that are still gaining popularity. Behind their appearance and value lies enormous potential - both in terms of technology and in terms of further use of this approach to financial transactions. The main "surge" in their value growth is yet to come. However, we cannot ignore today's leaders in this conversation - after all, only recently the world knew about them. We are talking about bitcoin and etherium.
BitcoinAs I recall, it appeared in 2009 as an alternative to conventional money. The traditional financial system in the world has one serious flaw: it is subject to someone else's interests and is easily manipulated to suit them. This is what all the world's central banks are working for. Bitcoin was the first step in overturning the minds of its users: it is decentralized, nobody uncontrolled, anonymous, and "unaffected" by inflation. Is he promising? Absolutely.
Etherium is a progressive bitcoin
Etherium is even more advanced than bitcoin. It is written on an open platform, which simplifies blockchain, but does not allow you to use your data as a legal tool. It operates an alternative legal system with "smart contracts," and the implementation of such an approach is not only possible in the world of virtual currencies.
Cryptocurrencies have had their day
Even if we assume that the cryptocurrency segment is one big "bubble" that has a chance to "inflate and burst" sooner or later, the main thing has already been done. From fast transactions of three thousand or more transactions per second to maximum security and groundbreaking data storage solutions, the world has already caught on to technologies that really shake the imagination.