Top 5 Alt Coins for Potential!
Number 5: Factom!
What is Factom: It is attempting to be the first usable blockchain technology to solve real-world business problems by providing an unalterable record-keeping system. Businesses and governments alike can use Factom to document their information so that it cannot be modified, deleted or backdated.
How is that Useful: Think back to the stock market crash of 2008. The housing market came down with it as many people’s mortgages are sold on the exchanges. When the money disappeared and banks needed to foreclose on homes, they had a tremendously difficult time of it due to the records being sold from one bank to another to another.
It gives users the ability to have their records uploaded like their PDFs, their photos, their bank statements etc, titles and deeds, videos, for them to be able to prove ownership. Factom compresses these files and they are hashed against the bitcoin blockchain or Ethereum or any. It can’t be shut down. No one person operates the records.
Why is the currency useful: The currency is known as a Factoid. The factoid allows you to hash something into the factom network. The currency is needed to prevent spam attacks.
Where do I see it going: The fact of the matter is that Factom solves issues. It’s been looked at to store data for smart-cities in the future: https://www.cryptocoinsnews.com/factom-lands-smart-city-deal-china/ and for movie scripts and movie reels for movie companies such as Sony who got hacked in 2014:
Links to those stories down below. Trillions of use cases, the sky is the limit.
Number 4: Golem
What is Golem: Described as the air BnB of computing horsepower, the premise is to rent your unused computing power, for anything from CGI rendering, machine learning, research and more.
How is that useful: For example a company like Pixar requires tremendous amounts of horsepower to render their films. It’s estimated a single frame can take around 29 hours to render, and their movies are at 24 frames per second. They need tremendous horsepower. This is one use case of many.
Why is the currency useful: You currently would need to pay for this service using the golem coins, and not in USD. Similarly if you are to rent out your computer, you would be rewarded in golems tokens.
What is the future: Amazon Web Service is a multi billion dollar industry. Compared to golems 0.2 billion market cap. That’s the market it is taking on. Now I am not saying it will directly compete with them, as there is still a long way to go before that. But for right now, it’s been calculated to prove that Golem could be significantly lower in cost than many other render farms’ that currently exist: https://blog.golemproject.net/why-should-render-farms-be-afraid-of-golem-3dd1b9e70f47
Number 3: NEO
What is NEO: NEO is a similar platform to Ethereum, with a few main differences. 1, the programming language. Ethereum uses Solidity, which was developed by Vitalik and a team of blockchain programmers. NEO on the other hand will support almost all programming languages via a compiler, including those on Microsoft.net, Java, Kotlin, Go and Python, greatly lowering the difficulty for developers to write smart contracts.
2, Tony Tao, the CEO of NEO will soon release Nest Fund, build on NEO’s blockchain, will offer a global bounty reward for any hacker who finds bugs. With an aim to improve on the flaws that the DAO hack showed with Ethereum’s blockchain.
3, Eastern Backing. They have the backing of the Chinese government, which is huge for start up companies.
How is that useful: Current systems of commerce are “outdated and insecure,” and that the internet is ready for an upgrade to a blockchain-based operating system. Calling for a fully-automated, blockchain-based, decentralized economy, he said we can expect a digital revolution in the years to come. This will include digital currency, decentralized storage, secure smart contract codes, IoT, AI, and many more innovations. blockchain technology will lead us into a new digital age, displacing traditional businesses and middlemen throughout many industries. Alex Norta, founder of Agrello
Coming all the way from Estonia, Alex Norta announced that his startup Agrello will be partnering with NEO to develop smart contracts for automation, self-execution, accuracy and transparency. Powered by AI, Agrello will be a platform for non-programmers to create their own legally binding blockchain-based smart contracts. Use cases for Agrello’s tech include renting and sharing, freelance contracting, orchestrating production flows, and reducing administration costs for multinational corporations.
Why is the currency useful: Simply put it’s not. Not until companies like the mentioned Agrello become useful and profitable.
What I think the future is: NEO has built up some strong momentum going forward. They have one of the top blockchain development teams in all of China, and a growing list of partners now aligning by their side. While it may take some time to steal the spotlight from Ethereum, we are sure to see more from this platform in the months to come.
Number 2: Steem
What is Steem: Steem is an aggregate social networking site where users, or "Steemians", post original content, links from the Internet and questions. Steem users upvote or downvote this content to promote interesting post and reward the author. As a post's popularity increases, it gains more visibility and the author is likely to receive even more rewards for their effort. It is a lot like reddit, but content creators are financially incentivised, and the platform in my opinion just looks a lot nicer IMO. Rather confusingly there are 3 different types of rewards, Straight Steem: the units that are bought and sold for actual money on the open markets. You can trade them as you would bitcoins or a company’s stock.
Then there is Steem Power: Owning Steem Power Units is essentially like making a long term investment in the currency because you can’t sell Steem Power Units for 2 years. Half of the pay you receive for your content will be in Steem Power Units. They prevent massive price swings and volatility on the open markets. Because everyone is locked in for 2 years, we can’t all sell our currency all at once if the market starts to dip, which would crash the price were it to happen.
And lastly Steem Dollars: he third and final form of the currency and never get diluted or lose their value. They are designed to be a stable currency that you can sell at any time. When you create popular content, 50% of your pay will be in Steem Dollars.How is that useful: It’s social media. I don’t need to tell you how powerful social media is as you are watching this video on YouTube. Imagine users getting paid for producing quality content, instead of for example Reddit Gold, which is basically worthless.
Why is the currency useful: You can convert the Steem Dollars to Steem and sell it immediately on the open market for real money, essentially cashing out.
You can hold the Steem Dollars, which keeps the money in the network and pays you 10% interest. You can sell them at any time. If you think the value will go up and want to sell at some point in the near future, this is your best option.
You can exchange your Steem Dollars for Steem Power. If you want to invest in the future of the currency and reap the biggest rewards, this is the way to do it.
It’s future: Decentralised applications for Steem are in development and are set to launch over the next few months, these include:
Zapple - The Steempowered Twitter. Enables micro blogging.
Steepshot - Steem like Instagram
ChainBB - Steempowered forums. Enables communities to form around certain topics.Number 1: NLC2
- What is NLC2: Nolimitcoin (NLC2) is a cryptocurrency dedicated for fantasy sports. Worldwide. Anonymous. Less restrictions on your money.
- How is that useful: Betting on sports is illegal in everywhere in the US except Nevada. This has turned people towards fantasy football, which is considered more of a game of skill instead of pure chance, hence not subject to the same laws. The growth this market is seeing year on year is exploding, a huge multi-billion-dollar industry currently. Now here’s the thing, Bitcoin is a terrible crypto currency. Don’t get me wrong it’s a beautiful piece of art in conception, but it’s terribly inefficient in all respects compared to some of its successors. It was the first though, being the first is so important because of the network effect. The more people using it the more valuable it is. Here is a very unique opportunity. NLC is not the first of its kind, but it’s going to be the first of its kind with a useable platform. The launch of its platform is imminent and you can stay up to date with its CEO over on Dan’s channel who has an interview weekly.
- Why is the currency useful: Why can’t I use USD? Have you tried using a fast crypto lately? It’s so much easier and doesn’t involve the same high fees, as long as it’s not Bitcoin. In order to keep the system lightning fast it will need its own crypto and its own blockchain.
- It’s future: So let’s be real. We are discussing a penny coin. The only coin on this list which is currently worth pennies. That’s the exact reason this coin made it to this list, as it’s not meant to be. There is a low market cap, with a lot of it locked up. And if I’m going to be honest, there are a ton of alt coins with massive market caps that don’t currently do anything, this is extremely undervalued. It’s meant to be a multi dollar coin.
- Special mention to NEM which did not make this list.
Any one who has kept up with the news lately knows that we are headed towards a global financial crisis. The future is going to be crypto currencies.