Where do they come from? What is the theory behind them? How do they serve as a medium of exchange? Is it a deception?
With the cryptocurrencies being a hot topic these days, all these questions tend to arise in one’s mind. While it has left a majority of us confused, some of us have been wonderstruck by it. (Also Check out What SEBI has to say about Cryptocurrencies)
So, here we will be telling about the Top cryptocurrencies in 2018 to which we can look forward to in the coming year, their background and their respective future prospects.
The most trending term these days was the first type of cryptocurrency, introduced in 2009. Cameron Winklevoss predicts that the rise in bitcoin will be as much as 20 times its current value. Well, that’s one hell of a deal. With its current value being $18849, it has a higher value than the market cap of a Boeing! Also, it is believed that bitcoin can become pervasive as dollars and euros someday. What are you waiting for then? Start researching and investing, perhaps! Better late than never.
It was initially developed to serve as an alternative to the bitcoin and thus has many of its attributes similar to its muse. Nevertheless, it has a coin limit of 84 million, which is four times of that of a bitcoin. Woah! Additionally, it has an added advantage of being easily obtainable. For all those who like to keep it convenient for themselves!
It comes with a major corporate backing and is a very secure source, for all those who like to play it safe! With a value of $803.14, it facilitates the exchange of money or anything of value. It is the most acceptable choice for corporations, especially, as it allows you to enter into smart contracts, which is a computer protocol facilitating the quantification of the performance of any contract. Isn’t it too good to be real? Well yes, that’s how it works!
It will provide you complete transparency while allowing global transactions. All accounts are cryptographically secured and the function lies with the company involved in the corresponding operations. Ripple is so rapidly taking over the other kinds of cryptocurrencies, that you might just get fortuitous! Diversification is the key!
If Bitcoin is like HTTP for money, Zcash is HTTPS! Yes, it provides you with immense protection. Introduced recently only, in 2016, it aims to give anonymity to users by hiding the names of the people involved and the amount transacted. Go ahead! Make proper use of the confidentiality it provides.
So now you must be aware of the various cryptocurrencies and their concepts, in brief of course! Now all you need to do is, discover your requirements and look for the mandated type. Also, it should be noted that the kind of hype that bitcoin has created shouldn’t affect the other kinds of cryptocurrencies serving different purposes as the ascertainment of your future might be done in the years to come. Indeed, this is where future meets reality!