Cryptocurrencies are the future. That much is unavoidable. But exactly what cryptocurrencies will end up on top?
An intriguing question – and I can’t answer it, like most cant. What I can do is try to find whatever information I can about some of the most prominent altcoins on the market.. and share it with you guys while I’m at it :)
I did an article a while back, looking at some of the most prominent altcoins at the time – Ethereum, Litecoin, and such. Feel free to check it out.
Without further ado, let’s explore 4 more cryptocurrencies which will surely have a role to play in the future.
Let’s get started, shall we?
1 – NEO
I started the last article speaking about Ethereum. How fitting that I begin this one with the “Chinese Ethereum” – that’s the name most given to NEO. And trust me, this crypto surely does bust the matrix (I’ll see myself out).
You see, whereas most cryptocurrencies work by emitting a coin, this one works by not doing so. By buying into NEO, you’re not getting a coin – you’re getting a structure of smart contracts, certificates, and other such bureaucratic fun stuff. This coin basically works like shares for the company, while granting them the same benefits that a blockchain would.
This little currency exploded by 400% the last couple of weeks. Keep a close eye on it, but don’t rush and then blame me for it please :/
2 – Monero
This next one approaches cryptocurrencies with a key word in mind – secrecy.
Most cryptocurrencies are considered reliable ways to keep your transactions safe – the encryption of blocks on the blockchain means that your transactions, unless you wish them not to, will remain unknown… in a best case scenario.
In most scenarios though, as long as you can find someone’s identity within the blockchain, you should be able to quickly find out their history on the blockchain, and their personal info.
Monero was created with these issues in mind. Due to some new technological marvels built into the technology, it’s almost impossible to trace any transaction to any particular user. With this cryptocurrency, you should be safe from any prying eyes.
It’s value has been steadily increasing in recent times. Might be worth going long on.
3 – Zcash
This one also takes a stance on privacy – with some key changes.
You see, in Monero, the blockchain is mostly private, where only a few select individuals can look at the transactions in the blocks, and even create the blocks.
In Zcash, the blockchain is public – yet your data is protected all the same. As long as you wish it to remain hidden, it will (it can be open to the public if you wish though).
If you wish to keep it safe however, it does so in many ways:
• Through special viewing keys, which only allow those who have them to view the transaction data within the blocks,;
• Amalgamation of transaction data with that of many different users, so as to not let anyone get a clear picture simply by analyzing a block;
• A zk-SNARK system, that keeps the payment data safe, by using the meta-data (stuff like when they payment was made, indirect data) to make sure there are no misunderstandings.
This one is volatile, but slowly moving up in the market.
4 – EOS
EOS, made by some of the people behind Steem itself, has been dubbed “the Ethereum killer” in the past.
Ethereum, as I mentioned before, is one of the most dominant altcoins at the moment. It makes its’ currency by using a blockchain as a means of creating and distributing apps, developed within the blockchain environment.
EOS proposes to do just that – but in a different way. It essentially makes a network where everyone (known as bots) can pitch in on the project and communicate with each other. They can also do special things like freezing it, if it goes awry, setup smart contracts, and other such advantages to working in a blockchain environment.
It also has great scalability, perhaps greater than anything else on the market. If you watch no other altcoin mentioned in the article, watch this one. This may be a great market shaker in the future.
That wraps this up!
That’s pretty much it! Feel free to sound off in the comments below, tell me whether or not you enjoyed the article, and ask me any questions you want!
Not sure what I’ll make my next post about tomorrow, if you have some suggestions, I’m all ears!
Steem on guys!