With The fever of prices rising at the end of 2017, many people lost sight of an important detail of the projects of cryptocurrencies and token of ICO, that these have a project or product working, something that as you could imagine is not the case in the vast majority of Situations.
If We take for example the top 100 of the projects Criptos listed in CoinMarketCap, only 40 of them, or is the same as saying 40%, has a product that really works at this time.
The problem with this is that if we really want to see our money get profit we need teams working on real products. Many founders and members have done an excellent job when it comes to trying to convince us of their idea and invest in it, when they don’t want to have a minimum viable product or a functional prototype as less functional.
One of the most important things as investors and lovers of this new industry is to find cryptocurrencies that really already have a product completely working, not just an idea on a paper or a prototype to teach that lacks functionality. What We are looking for is something that is working at 100% and we can try it. They Do Not have to be finished, because there is always more to do, but at least have an idea what their proposal is and where they continue to develop with our money.
A project and product that already has this simple criterion is not indicating what behind is a team working very seriously, along with a very active community that gives us some confidence that this is a great long-term project. These are the projects we want to bet on.
The purpose of this article is to help you identify these projects, which have products in use and where you can continue investigating for what you invest in them. Remember that this is not an investment recommendation, and if you want to bet on them the best thing is to do your own work and read everything doing the corresponding analysis. Here is what I want to show you places to look.
- 1 What do we consider to be a working product?
- 2 Interesting cryptocurrencies Projects
- 3 Bitcoin (BTC)
What do we consider to be a working product?
The Main and most interesting Thing is that they have roadmaps that the teams have been following. Projects that have a history of new releases that they launch on a regular basis, reaching thus objectives and that their project or service really already is working in the real world. At least by the first adopters of technology, who are the ones who are usually at the forefront. It Is A representative of what can happen in the future.
These are the criteria with which this list of cryptocurrencies has been created. From this, the person who wants to invest in this sector already have a part of the work done, only remains to get to work and begin to study and analyze how much potential they have as investment.
Many of the projects in this sector already have a main network functioning which is what we consider as a product. The problem is that they have very little adoption. Ideally it is a project with active members and at least have a decent user base at this time.
If We talk about a smart contract platform, without an interesting amount of products running over it, then we can’t consider it as a product currently working.
With all this said the best thing is that we start to see this extensive list.
Interesting cryptocurrencies Projects
This Cryptocurrency had to head the list for the simple fact of being the pioneer and the first application of a digital coin that has such a massive adoption. With Bitcoin We can make payments to any part of the world with low commissions and in a very simple way. Point-to-point transactions have made it easier to transfer money to another country.
Before, we need to wait 3 to 5 days, even more, to receive an international bank transfer. With the technology that makes Bitcoin, blockchain, and its decentralized nature possible, this Cryptocurrency leads the herd of projects that currently have a product running.
Because of its popularity, if we compared it with the commissions of other digital currencies its cost is high, some cents. To that you have to add the time that is expected by the confirmation of your transactions, which is of at least 10 minutes. It Is an ideal Cryptocurrency to buy and maintain, but if you want to use It on a daily basis It can be somewhat challenging.
For a long time, Ethereum occupied the second place in Cryptocurrency’s projects according to capitalization. It has Now descended to the third position as a result of Ripple’s surpassing it. That does not take away that it continues to have enormous potential, thanks to being a platform of intelligent contracts.
With This particular product we can make an endless number of agreements and transactions without the need of a third party, and all of them automatically (cases of use of intelligent contracts). In response to this technology, it is the world’s leading platform.
Another interesting use of this platform is the possibility to create tokens. These allow people to create their own cryptocurrencies without the need to develop a chain of blocks from scratch, taking advantage of all the advantages that Ethereum offers.
It Is relatively new compared to the 10 years of Bitcoin, but it has been able to achieve massive adoption because of the ability to solve problems. Many companies are creating thanks to it platforms and launching their own ICO.
Ripple is a financial transaction platform that has a network dedicated exclusively to international money remittances in a simple and cheap way. Your product solves the problem of the time it takes for an international transaction to complete, eliminating a large number of commissions that must be paid for that service.
A bank when you want to transfer funds to any part of the world should rely on systems like SWIFT, which is a network that allows you to make this move. Unfortunately, it requires a lot of patience and incurring great costs.
Ripple can do the same in just 4 seconds, no matter how much money to transfer, as it does the same if they are $100 or $1 million. If You Use the Ripple platform you really get to send all your money in a few seconds.
This Project has the capacity to revolutionize the financial sector as more customers join their platform and leave behind outdated banking systems.
Bitcoin Cash (BCH)
This was the first hard fork in Bitcoin, designed exclusively to solve the scalability problem that the main Cryptocurrency suffered from. When Bitcoin began to gain popularity, the transactions became increasingly slower, and together with it the commissions increased.
For Many within the community this was really a problem, and they needed a solution that could keep everyone happy. In this way Bitcoin Cash emerged, when a group of developers thought that increasing the size of the block could help a greater number of transactions to be processed at the same time.
It’S A very similar platform, except for that little change. Many would think that it is an improvement of the Bitcoin itself, but the reality is that the subject is quite controversial, coming to divide the community because of this important detail.
Another Payment-oriented platform is Stellar, a Ripple fork that provides a solution for sending and receiving Fiat coins all over the world. Its mission is to bridge the gap between payment processors, banks and customers.
For that you use your network that sends the encrypted transactions, in a very safe way and without the need of a trusted third party. These are as simple as making a payment with your credit card or debit or a bank transfer, with the due improvements clear this.
Thanks to these benefits, large companies have seen their enormous potential and have begun to partner with this project. Some of them are IBM, Keybase and KlickEx. It is Not uncommon then to see that now the platform has more than 1 million of active accounts, allowing Stellar to be one of the great promises of the sector (Stellar vs Ripple).
Litecoinse is another fork of Bitcoin but with the advantage of being faster and cheaper the time to transfer your Cryptocurrency, the LTC. Its biggest advantage is that the transactions in this blockchain only take 180 seconds, a big difference with the 10 minutes of Bitcoin.
For that uses a hashing algorithm called Scrypt, which is different from the SHA-256 Bitcoin. Within The community is often known as digital silver, as the term digital gold has Bitcoin. This currency can be a great complement to Bitcoin when it comes to an alternative solution for payments that are made on a daily basis (Bitcoin vs Litecoin).
Within the Stablecoins calls, or stable currencies, we find Tether, one of the most popular in terms of offering a network with a coin that does not lose value while we send it, receive or simply store it. This is because being subject to US dollar value is not fluctuating in price. Its Price is practically $1.
In theory, for every USDT in circulation they have an equal amount of dollars stored as a reserve. This Would not consider it an investment, because as they had noticed there are no changes in its price, at least not significantly. However, it is a good digital coin to keep our money while we wait to finally get into an operation.
The only Cons is that it is not exactly a decentralized currency, as it needs an entity behind buying and selling dollars. If you are a great lover of decentralization maybe this coin is not for you.
When We look for a currency that is really private people usually recommend Nero (XMR). Born as a fork of Bytecoin, this is a platform that incorporates a series of interesting features such as Fungion, a ring of signatures and hidden addresses, all helping to ensure the privacy of people along with information.
As a result, platform users can transact without fear of other people looking at their account. It is Not uncommon that since 2014 this has enjoyed a huge adoption, which grows continuously thanks to a team dedicated to the project and a community that loves a private product.
Another Intelligent Contract platform, which comes after Ethereum but brings with it serious improvements that could transform it into a great contender. The advantages of having digital contracts have already made it clear, although there are still others as much as the scans of assets, what can be used to transfer ownership of them through blockchain.
Neo is in itself quite popular in his country of origin, China, and this has earned him to get a huge adoption. That’s Why it’s not uncommon For people to sometimes call it the Chinese Ethereum.
It Is quite similar to Ethereum in many ways, so no wonder it is a platform where many choose to launch their ICO and decentralized applications. The difference is that its performance characteristics are far superior to those of Ethereum, making this an improved version of the first.
Binance Coin (BN)
The Exchange called Binance has its own token that serves the purposes of the platform, Binance Coin. This is attractive because it gives discounts on transactions within the exchange, especially when it comes to extractions.
When It’s time to extract capital using Binance Coin users can expect a 50 percent discount the first year, 25 percent the second and 12.5 percent the third year. That’s a lot of profit and save when you’re a trader or an investor.
While This currency has limited use as it is to operate within the platform, this is not to say that the millions of users who use it daily are a negligible figure. As Long as the community stays that active we can expect a very interesting product.
Another alternative to private Cryptocurrency is Zcash, with the difference that it has a particular way of carrying out the transactions in its blockchain thanks to the cryptographic technology called Zero Knowledge Test. This is an ideal Cryptocurrency for those who do not want their transactions to be seen and consider that a public blockchain like the Bitcoin is not the best solution.
The way that users can not be identified is because the transactions are made with public addresses that do not require identification. With Zcash, both he who sends and the one they receive never have to reveal themselves (Nero vs Zcash).
This way you cannot see the value of the transactions, or who originated it or the recipient. It Is So interesting the technology that even Ethereum is thinking of adopting it, this would greatly help to make the transactions more anonymous and keep the purses private away from the looks of the people.
Qtum is a platform that we could say is a hybrid between Bitcoin and Ethereum. On The one hand we find the intelligent contracts, which seek to improve and create a space where the dapps converge. On the other, it wants to be the platform where value is transferred through Criptos transactions.
It Uses a consensus algorithm of Participation Test, one that Ethereum wants to adapt soon. On the other hand, it has something very positive, that despite its short life has already achieved a great adoption thanks to a functioning product that seems to like people.
There’s Still a long way to go to Ethereum, but the way you chose to do it can give you great results. Qtum seeks to achieve great compatibility with mobile devices, leading to these all the power of intelligent contracts and decentralized applications.
0x Protocol (ZRX)
This is a project created on the platform of Ethereum, but does not stop being one of the most interesting that nowadays are working on this blockchain.
0x is designed to make easier the exchange of tokens created in Ethereum using the relayers, some very interesting entities of the network of this platform. With them allows the Dapps to run make use of the capacity to exchange currencies that create the projects in Ethereum.
At the moment only allow the exchange of tokens of type ERC-20. Fortunately, developers soon want to improve this situation by working on a new version 2.0 that incorporates other Ethereum tokens. This project is considered by many as one of the best in the 2018.
In This position we stumbled upon the third privacy-oriented Cryptocurrency called Bytecoin, which has grown rapidly to become quite popular.
Users looking for an anonymous platform where transactions cannot be traced back to their source will then find an excellent option here. It is Not exactly a very new Cryptocurrency, its launch was in 2012, but it has shown great growth since its conception.
It Has a large, very active community, objectives in its completed roadmap, a functioning product and a solid base of users. As Long As The developers continue to work with it, surely this project will continue to improve and become even better.