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When you are attempting to find the next big cryptocurrencies to invest in a lot of timed can be consumed as there is quite a bit of legwork that needs to be done.
Some coins are coming and going each month and making sure you are not going to pick one of these is vital to make sure you do not choose the wrong one and lose more than just the time you have invested.
To make things easier here are five crypto’s that can make real inroads into BTC’s dominance and stake their claim somewhere toward the top of the best performers chart over 2018.
Although the name might appear new, this coin has been around since 2015, so it is not entirely new. It is open-source and decentralized and based on Blockchain. It was created by the co-founder of Ethereum, so it has a solid group behind its development.
Cardano is set to introduce smart contracts in an enhanced form and having invented Ouroboros which is a new POS (proof of stake) method.
With this in place, it seeks to offer users much more in-depth functionality while at the same time not suffering any loss in speed for transactions.
If a coin was to have a community reputation behind it; and being at the top of their game.
This coin has it as 95% of the participants in the ADA (Cardano) ICO (initial coin offering) were Japanese, yet it is more renowned for the global team of academics and scientists who are part of its development.
This is another coin which is bringing with it smart contracts and where Ada was known as “Japanese Ethereum” this coin is known as “The Chinese Ethereum”.
NEO brings with it some other features which include a Delegated Byzantine Fault Tolerance (DBFT) algorithm which is a consensus algorithm rather than a traditional proof of work/stake.
NeoX is something new and enables the system to operate over various blockchain’s as well as NeoFS which is a service allows for decentralized storage which is similar to a P2P Dropbox.
As a form of protection, there is NeoQ which is a lattice-based cryptographic function that enables the system to create problems that quantum computers are unable to solve.
Under the hood, the Chinese government is seeking to be a forerunner in a contender to Blockchain with their OnChain which at present is a bit of a sleeping giant.
This is part of a joint project and comes with Skywire. Although still in the infancy stages both are set to make their announcement felt later in the year.
Each of these components can perform separately yet when they are combined they bring a wealth of features that are set to revolutionize the internet as well as the cryptocurrency landscape.
As there is no mining of coins, they cannot be taken over by mining pools and are protected by 51% attacks. In the case of Skywire, this is a node based network that takes onus away from the large ISP’s and hands internet control back to the users.
Both Skycoin and Skywire are developed with speed and security in mind and bring something entirely new to the crypto scene. In the last quarter of the year, they are set to release their services to the world. Eyes at the ready for this one could be the best cryptocurrency to buy right now.
This coin is coming at the marketplace with security and privacy along with being untraceable as being at the top of their list.
To do this, they use a unique form of cryptography which ensures every transaction will remain unlinkable and most of all untraceable. With a world that is becoming transparent, it is easy to see why Monero appeals to many users.
Alongside coin releases and mining it has some other unique features up its sleeve these being. All transaction control is in the user’s hands, and as it is so private, no one can see what you are spending your money on.
As some coins in the case of BTC might have been used in shady dealings, they are often tainted, and some exchanges take a dim look at these coins and will not pay full rate.
With this coin all transactions are private, so the coin appears to be clean even if a past user had used it for underhanded purchases. This is another coin that is gaining a good name for itself among the top runners in the cryptocurrency market.
As with SKY and Skywire, this last coin on the list solves a problem which is the basis of any functional currency.
BTC is far from perfect, and all the coins mentioned go some way to encroaching on its dominance. Substratum is the closest to SKY from the other currencies mentioned as it aims to create an open internet along the way.
Along with privacy, security, and encryption, it brings Decentralized storage capability and the serving of content. The DNS is also decentralized, and it aims to bring back net neutrality to the users while breaking down international borders.
Value is also brought to the coin as with the nodes the members of the network will receive SUB coins for serving user requests. This will increase participation around the globe.
Substratum pay will allow applications or sites which are running on the Substratum network to process transactions using any coin that is traded publicly. Substratum-coin will be the bridge currency which will attract further value.
All of the above will make their names as the year goes on and each is worth closer monitoring to watch their performance.
Each brings something which betters the current market leaders, so their future looks bright for 2018 and beyond.
12 thoughts on “Bitcoin 2.0 – What Is The Next Cryptocurrency To Invest In?”
I’m still sitting on the sidelines with my head in sand in this area. Not sure if that’s wise, but it is my current position. Interesting post on these different coins. Tom
Tom @ Dividends Diversify recently posted…What I Have Been Investing in Lately
You must always feel comfortable with any investment you make. It can be stocks, real estate, precious metals or crypto. It doesn’t take much to get started. You can buy fractional coin amounts and risk $10 or $20 just to get a feel for the volatility and be a part of the “revolution.”
Similar to Tom, we’re just sitting on our hands for now. I might consider at some other point in the near future, as we’ve had a few friends and colleagues do quite well.
But just seeing Bitconnect in the news and related events, I’m not in a rush. Regardless of whether or not we decide to “invest”, I’d only consider what I’m 100% comfortable – and very confident – losing.
Thanks for the post, Keith. – Mike
Mike @ Balanced Dividends recently posted…6-Month Update: Fundrise Passive Income Review
The beauty of buying into cryptocurrencies is that is does not require much capital to get started. Of course, you must always feel comfortable with the amount of cash you are investing but know that if you just want to be a part of this “revolution” you can pick up fractional pieces of any coin and risk $10 or $20 and see what happens.
I hold small positions in NEO,ADA,SUB .These are the names i have been hearing from everyone.Lets see how it does.
I know about NEO and ADA but not much about SUB. It’s crazy how many cryptocurrencies were created in just the last year or two. Thanks for sharing.
Well, I only have position in ADA. I’m “invested” in other ALT coins, but it’s really more speculation. Not a lot of money, but I guess it could make me a few dollars if either one took off. We’ll just have to wait and see. I’m glad one of my ALT coins made the list. There are so many it’s hard to keep up anymore.
Dividend Portfolio recently posted…Recent Buy – Emerson Electric (EMR)
For now, I’m sticking with my BTC, ETH and LTC. I would like to buy some other alt coins but quite frankly don’t wish to open up multiple accounts on different exchanges and then worry about storing my coins as often these alt coins require “specialty” wallets. I agree, it’s too much to keep up with and since it’s tech, there will always be something new and better and faster and cheaper introduced.
I’m still very confident in Ethereum. Bitcoin is currently on a 25-day downward trend while Ethereum is showing a 14-day upward trend. I’ll still continue to hold Bitcoin but a majority of my holdings will be in Ethereum.
I agree with you about Neo, I’ve been watching it climb up the market cap ladder at an incredible pace.
Sounds like we’re on the same page in terms on our holdings. I am long term believer in ETH as well as BTC and simply continue to hold through all the ups and downs we have been seeing. Thank you for sharing your thoughts.
Thanks for sharing your view. Investing in any cryptocurrency is a total gamble, but more information can reduce the associated risk.
ZTP recently posted…Blockchain Development: Principles and Applications
Exactly. There is a lot of misinformation and a lot of questionable blockchain/crypto plays out there. There more you know….