The majority of us are already aware that there are thousands of crypto assets out there and each of every single one has their use cases, implementations, and applications as well. Take for instance popular currencies like Cardano (ADA) helps users to send money globally at ease, Ripple, Ethereum, Dodge, etc.
Interestingly, cryptocurrencies aren't like cash we walk around with every day. They exist electronically and utilizes a peer-to-peer network for a successful transaction.
Without further ado, here are some classes of crypto assets and their applications:
1 Stablecoins:
These are cryptoassets that are constructed to maintain a market price that doesn't vary significantly from some benchmark, often a fiat currency like USD, EUR, or CNY E.g Tether (USDT).
2 Payment System:
Payment platforms are entirely focused on payments, often a specific use or industry. Some blockchain-based payment platforms attempt to integrate multiple Blockchain assets into one platform for ease of payment, possibly employing smart contracts for more complex applications.
3 Supply Chains:
Blockchain networks geared towards supply chain management generally tokenized real-world assets, allowing precise tracking of assets provenance in real-time.
4 Lending Platform:
Blockchain lending platforms generally give out loans using on-blockchain assets but may offer other loans or lending functions using blockchain networks. E.g SALT TOKEN.
5 Centralized Exchange Platform:
This sector refers to tokens that exist primarily on centralized exchanges for use on those Exchanges. E.G., BNB
If you find this interesting and useful please feel free to upvote and reblog ;)
Disclaimer: Trading cryptocurrencies carries a high level of risk, and may not be suitable for all investors. Before deciding to trade cryptocurrency you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with cryptocurrency trading, and seek advice from an independent financial advisor. ICO's, IEO's, STO's and any other form of the offering will not guarantee a return on your investment.