The cryptocurrency news is full of talk about coins and the value of them, and most of this related to investing. There is hardly anything written at present which mentions the problems that all the Cryptocurrencies are looking to fix and how they will attempt to transform our lives.
This could change when a Crypto makes its way onto the market that not only brings something new, it brings something to the table that genuinely benefits end users and businesses alike.
At present, it is quite hard to speak of the technological breakthroughs the cryptos are making without them being seen as investment potential.
Here are examples of a few cryptocurrencies that you might not hear much about and how they aim to shape the future as well as them worthy of cryptocurrency investing.
This coin is bang up to date and new and will receive its full roll out this year. It is at the moment business focused on smart-contracts being at the center of their vision. One name has taken DragonChain as a chosen platform is Disney who is using it for identity systems, ticketing, digital rights management, voting systems, pay-for-performance and any other area contractual data is processed.
This is a part of Omise a payment gateway service based in Thailand which serves enterprise business and merchants. This crypto is designed to run on and alongside Ethereum on the DEX (their own decentralized exchange).
As with many cryptocurrencies, this coin allows for efficient users payments, B2B commerce, payroll deposit, remittances, supply chain finance and much more. The most significant problem that OmiseGo aims to rectify is the number of users who have no access to a bank account (mainly around Asia) the Omise wallet app allows anyone to fund their wallet and use the coin for payments which at present they are unable to do.
As OMG works with the Blockchain, the user connects through the DEX and can make friction-less payments or money transfers.
While many other coins piggyback on top of Blockchain to provide their services. SKY has gone a step further. They are bringing along with them an infrastructure that can revolutionize the internet and how we connect to it, along with other benefits.
Skywire is this P2P mesh-network which is made up of nodes. Unlike Bitcoin miners, the SKY miners don’t mine the coins as no mining is required.
This not only eases congestion in transactions and reduces power consumption, but it also makes the network more secure and faster as a result. SKY also comes with a new algorithm (Obelisk) which does away with POS and POW and is based on network consensus (web-of-trust).
A lot of value is brought to Skywire and Skycoin as the miners are paid for hosting services and maintaining network security. They receive payment for their actions which will take away a single point of failure such as your IP provider.
The interconnected nodes strengthen network security while maintaining services should one node become disconnected. If you are looking which cryptocurrency to buy shortly before it receives its full roll-out. SKY might be the one to keep your eyes on.
This coin or token aims to solve one of the most significant problems that cryptocurrency investors face at some point in time. How to make use of your assets without cashing in your crypto’s.
Salt is an Ethereum based Blockchain backed loan system. Now investors can access the value of their Cryptocurrencies without the need to cash them in, they are used as collateral against the loan.
From a user point of view, loans are more comfortable as there are no credit checks due to the fact the cryptos are there as collateral. It is a highly secure wallet they use with four holders of private keys. Three of these are required to access the wallet and transfer funds.
This coins primary focus is on security and privacy. This might not appear to be much of a problem to solve, though if a user uses a transfer service such as PayPal their personal information is made available to over 600 other businesses.
Privacy is becoming a significant issue on the internet and Monero with their upcoming Kovri projects will ensure a user’s information is private as well as secure. This has another advantage as blacklisted coins can become devalued and this taints them forever. XMR makes the coins fungible, so they will always retain their full value.
There is one final advantage of XMR that it can withstand significant crypto crashes due to the extent it is used on the dark web. One should not condone illegal transactions, though it shows how resilient XMR is and it fixes the problem of bitcoin and all transactions being visible.