All we hear – and write – about is Bitcoin, Ethereum, Ripple, and Litecoin. We decided the time has come to do something about it. Today’s spotlight is on alternative coins to watch out for – Stellar, Cardano, Monero, TRON, IOTA, and Dentacoin.
These coins have come a long way as a result of brilliant project updates that pushed them up to the top list. This blog post will tease out some general information about these coins. If you feel like finding out more or potentially making an investment, Google is also your friend!
Stellar had a spectacular year in 2017, when its price rocketed, starting out at mere fractions of a penny.
Stellar is the blockchain technology that allows funds to be sent and received very quickly and cheaply. It also uses a distributed ledger protocol to process transactions, with its code being very similar to Ripple’s. For some reason, lots of people think that Stellar is a fork of Ripple, but it’s not.
The Stellar protocol can also exchange two fiat currencies directly if there is enough activity.
Cardano is a decentralised public blockchain and crypto project, fully open source.
Cardano is developing a smart contract platform that seeks to deliver more advanced features than any other protocol previously developed. It’s the first ever blockchain platform to evolve out of a scientific philosophy and a research-first driven approach. A large global collective of expert engineers and researchers are behind the development team.
Just like any other crypto, Monero is decentralized, meaning it’s super-secure digital cash operated by a distributed network of users. Transactions are confirmed by distributed consensus and then immutably recorded on the blockchain, they are not linked to a particular user or real-world identity.
Monero uses ring signatures, confidential transactions, and stealth addresses to obfuscate the origins, amounts, and destinations of all transactions, as well as provides all the benefits of a decentralized cryptocurrency, without any of the typical privacy concessions.
TRON is one of the world’s largest blockchain-based operating systems and can support enormous numbers of users.
It is an ambitious project dedicated to the establishment of a truly decentralized Internet and its infrastructure. Most reliable network structure, user asset, intrinsic value, and a higher degree of decentralization consensus come paired with an improved rewards distribution mechanism.
IOTA is a permissionless distributed ledger for a new economy. Its protocol achieves consensus on the state of matters in a network. The planned number of connected devices that will be in use is estimated to reach the amazing 75 billion by 2025. IOTA will cover everything from tiny sensors on roads and bridges to portable electronics, like mobile phones,as our world is becoming more and more interconnected every day.
The amount of data produced and consumed by all these devices is already unfathomable. By the end of 2016, the run rate of IP traffic was 1.2 zettabytes a year. That is enough data to fill over 9 billion of the highest storage capacity iPhone’s available at the time. Over the next five years, global IP traffic is expected to increase 5x whereby 2021, monthly IP traffic will reach 31 Gigabytes per capita.
Dentacoin is a new Ethereum-based token that focuses on healthcare and patients by promoting intelligent prevention, implementing dedicated blockchain-based software solutions and using an industry-specific cryptocurrency.
It has established itself in the community as a coin customized for the Global Dental Industry. It may sound weird for some crypto enthusiasts, but the scale of Dentacoin usage is impressive.
Which altcoins do you watch out for? We encourage you to share in the comments section below. Don’t be shy, we really care about your opinion! If we get enough replies, we will do part deux of this post on our blog.
Enjoy your Wednesday!
The CoinMetro Team