Altcoins are fast becoming the hottest topic in the cryptosphere. People are starting to realize that Bitcoin is no longer the only game in town, and they’re looking for alternative cryptocurrencies that might explode in value. However, there’s no sure way of knowing which altcoins will rise to prominence and which ones will fall by the wayside.
That said, there are a few altcoins out there that have some major potential—and if you know how to spot them before everyone else does, then it could be worth your while to invest early before their prices skyrocket.
What Are Altcoins?
Altcoins are cryptocurrencies that are not Bitcoin. They have different features and use cases, but they’re usually cheaper than Bitcoin, making them attractive to investors looking for a bargain.
Altcoins are also less secure than Bitcoin, so you should never keep your savings in altcoins. If you do invest in altcoins, do so with money that you can afford to lose entirely if something goes wrong with one or more of your investments–and also realize that there’s no guarantee any particular coin will explode (or even survive its next price drop).
Best Altcoins To Watch Out
Ethereum
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud, or third-party interference. Ethereum is how the Internet was supposed to work.
Ethereum’s native cryptocurrency is called Ether. It is listed under the code ETH and traded on cryptocurrency exchanges like KuCoin, Coinbase Pro (USA), Bitstamp (Slovenia), Gemini (USA), and Kraken (USA).
Shiba Inu
Altcoins are all the cryptocurrencies that aren’t Bitcoin. If a cryptocurrency isn’t Bitcoin, then it’s an altcoin–and there are over 2,000 of them.
So what is Shiba Inu? It’s a crypto with the potential to explode in price and popularity. It’s also one of the most adorable coins out there: who can resist those puppy dog eyes? Shiba Inu was created by @shibainu_coin on March 20th, 2019, and has been around for less than one year. However, this hasn’t stopped it from becoming one of the top 50 cryptocurrencies by market cap (currently ranked #47).
Algorand
Algorand is a new blockchain protocol that was developed by computer scientists at MIT and Dartmouth College. The main difference between Algorand and other consensus protocols like Proof-of-Work (Bitcoin) or Proof-of-Stake (EOS) is that it doesn’t require miners to solve difficult mathematical problems in order to create new blocks on the blockchain. Instead, each node in the network randomly assigns itself as either an endorser or challenger, who then compete with each other until there’s only one winner left standing.
Aave
Aave is a blockchain-based platform that aims to create a decentralized ecosystem for the automotive industry. The project aims to connect car owners, service providers, and manufacturers on one platform, providing them with tools to manage their vehicles remotely. Aave already launched its MVP (minimum viable product) in December 2018, as well as an iOS app that allows users to access their data and monitor their cars’ performance stats, such as fuel consumption and mileage details, etc.
Decentraland
Decentraland is a virtual reality platform powered by the Ethereum blockchain. It’s a virtual world where you can own land and create experiences, games, and social networks.
Decentraland is built on the Ethereum blockchain, so it can be purchased with real money or cryptocurrency (ETH).
XRP
Ripple is a digital asset, currency, and payment network. The XRP Ledger is a decentralized cryptographic ledger powered by a global network of peer-to-peer servers. It was created by Ripple to enable secure, instant, and nearly free global financial transactions of any size with no chargebacks.
When it comes to trading XRP, it is commonly paired with other assets. These trading pairs allow users to exchange XRP for the respective paired asset or vice versa, such as XRP USDT, depending on their trading preferences and market conditions.
BNB
Binance Coin (BNB) is a cryptocurrency token that operates on the Ethereum platform. Binance Coin (BNB) can be used to pay trading fees, withdrawal fees, listing fees, and all other fees on Binance. In addition to being used as a means of paying for services provided by Binance, BNB can also be traded against other cryptocurrencies or fiat currencies on its native exchange.
Trading pairs such as BNB USDT play a vital role in providing liquidity and facilitating the trading of BNB. They enable traders to speculate on the price movements of BNB and potentially profit from it. The availability of various trading pairs for BNB may vary across different cryptocurrency exchanges.
Cardano
Cardano is a decentralized public blockchain and cryptocurrency project and is fully open source. Cardano provides a sophisticated PoS consensus mechanism, Ouroboros, to ensure the validity of transactions.
The platform has been built from the ground up in international standards such as Haskell and LLVM, which ensures its security and integrity. Cardano aims to deliver more advanced features than any protocol previously developed while solving issues associated with previous blockchains such as Bitcoin or Ethereum.
Stellar
Stellar is a decentralized protocol for sending and receiving money in any pair of currencies. It’s similar to Ripple, but unlike Ripple, Stellar has its own native currency (XLM). The network allows users to perform transactions between two entities without any middleman or third party.
Stellar was originally founded in early 2014 by Jed McCaleb and Joyce Kim under the name “Stellar Development Foundation.” McCaleb left the project shortly after launch and later went on to found Ripple Labs Inc., which developed XRP cryptocurrency and associated technologies such as Interledger Protocol (ILP).
Solana
Solana is a blockchain platform that can process thousands of transactions per second. It’s designed to be used by large enterprises and high throughput dApps, and it has the potential to become one of the most widely-used blockchains in the world.
Solana is different from other blockchains because it uses Proof-of-History (PoH) instead of Proof-of-Work (PoW), which means there are no miners or miners’ fees involved in verifying transactions on its network. This makes it much faster than other blockchains like Ethereum and Bitcoin, which use PoW algorithms that require a lot more time and energy consumption to validate new blocks containing transactions within them.
Curve
Curve is a privacy-focused cryptocurrency that’s a fork of Monero. It uses the same privacy technology as Monero, but it has a different mining algorithm–it was created to be more ASIC-resistant than Monero, which means it’s better suited for people who want to mine on their home computers instead of purchasing expensive ASIC hardware. The main difference between Curve and Monero is that Curve has an extra feature: you can use your coins as collateral for loans on their platform (and then pay them back with interest).
Aptos
Aptos is a decentralized, open-source blockchain protocol that enables users to create, store, and manage digital assets. Aptos is a product of Aptos Labs Inc., which was founded in 2017 by industry veterans with years of experience building high-performance systems for large companies like Google, Facebook, and LinkedIn.
The team has been working on this technology since 2014 when it was originally developed as an academic research project at UC Berkeley, where they won the best paper award at ACM SIGCOMM 2016.[1] They went on to launch their first product called “Lumino” (later renamed Lumino Networks) in 2017, which provides network infrastructure services using their own proprietary distributed ledger technology called “Aptos.”
Conclusion
As you can see, there are many altcoins that could become the next big thing. The best way to spot them is by looking at their technology and how it will impact our lives in the future. If you want more information on these cryptocurrencies or others like them, we recommend checking out CoinMarketCap, as they have a lot of useful data available online.
