Promising Altcoins (Part I)
5th October, 2018
It has been a while since Bitcoin captured the global attention and reserved its permanent spot in the headlines, both positive and negative. In the beginning of its winding ascent there was no real competition from another digital asset. With time, the so-called altcoins started to pop out. Early enthusiasts captured the opportunity to build upon the Bitcoin technology by changing some features - such as hashing algorithm, distribution method, transaction speed, etc. – thus creating alternative cryptocurrencies. Today there are more than 3000 altcoins and they are trending more than ever as payment methods and investment assets. While some don’t survive long, others like Ethereum, Litecoin and Ripple skyrocket in value and expectation. Amid the thousands of cryptocurrencies there are also the ones that hold promise, but at the moment linger towards the bottom of the charts. With time, future innovation and market attention they can climb the graphs and present opportunities for monetary gain. Today, we venture beyond the number 100 position on www.coincheckup.com to identify potential winners.
But first, let us mention few reasons to adopt and embrace the altcoins.
With Bitcoin expensive and expected to climb new heights, altcoins represent an affordable entry point for a digital currency investment. The difficult part, sifting through the boundless information to find the right one/s to invest in.
Altcoins represent a healthy competition to Bitcoin, forcing its developers to be observant, active, and to sustain innovation.
Altcoins allow developers to experiment with unique features and fuel the decentralization of the cryptocurrency community.
Before we share few of the promising altcoins on our short list, please know not to consider this article an investment advice. Also, remember that trading cryptocurrencies could earn a good amount of money, but it could also invoke a serious loss. You should always act on your personal research and intuition.
Here are few altcoins holding a position beyond the 100th rank (www.coincheckup.com) and not the best performance statistic, but worth keeping an eye on.
Polymath #106 (POLY) The Polymath Network is a blockchain-based system to coordinate and incentivize participants to collaborate and launch financial products on the blockchain. The Polymath team aims to create a standard token protocol which embeds defined requirements into the tokens themselves to ease the primary issuance and secondary trading of blockchain securities tokens. More information you can find here: https://polymath.network/.
Iconomi #129 (ICN) For beginners, ICONOMI is the best way to take your first steps into the crypto-economy. For experienced investors, ICONOMI is the easiest way to diversify your portfolio. The emergence of technologies such as Bitcoin and Ethereum marks the creation of a revolutionary new asset class: digital assets. But successfully managing your own digital assets is hard, requiring intensive research, security measures with no room for error, and multiple exchange accounts. The ICONOMI Digital Asset Management Platform is a new and unique technical service that takes care of this process for you using diversified baskets of digital assets called Digital Asset Arrays (DAAs). More information you can find here: https://www.iconomi.net/.
SALT #134 (SALT) The SALT Lending platform is a great option if you want to need to make real-world expenditures, but don’t want to lose the potential gains from your digital currency holdings. SALT works to solve a major problem of blockchain assets – liquidity. By opening up this entirely new form of loans, SALT brings more liquidity to the market. The platform is open to all tiers of borrowers looking to take advantage of this groundbreaking service further bringing together the worlds of crypto and traditional finance. More information you can find here: https://saltlending.com/.
Swarm City #694 (SWT) Swarm City uses blockchain technology and smart contracts to allow people to communicate and transact value and earn contextual reputation. The blockchain provides transparency, so users can safely interact with people they don’t know, while keeping their private information to themselves. Smart contracts make sure interactions go as planned and generate marketplace specific reputation for successful deals. Swarm City users can: buy and sell products and services in a decentralized way; easily create and manage marketplaces for others to transact in; build communities of like-minded individuals to benefit from economies of scale; get rewarded for being a good actor by earning immutable reputation. More information you can find here: https://swarm.city/.