What Is The Most Promising Cryptocurrency Other Than BTC And Why?
ICO investment rose from $26 million in 2014 to $1.27 billion in the first half of 2017, far outpacing venture capital investment in fintech startups.
But most ICOs are based on the Ethereum blockchain. Ethereum found new ways to fund the development of crypto-platforms with ICOs. The story is changing.
These questions, “What is the most promising cryptocurrency other than BTC? Why?” originally appeared on Quora, the knowledge sharing network where compelling questions are answered by people with unique insights.
Answers below are by , a crypto-economist, Parul Sharma with Webcom Systems, Pascal Thellmann, editor at CoinNoob.com, Jimmy Fang, who runs an Ethereum mining rig, Glyn MacLean, who works at Cryptocurrencies, and Jose A. Toriello, a founder.
Ethereum is the most promising cryptocurrency, period.
Even though the price of Ethereum has already appreciated significantly in 2017, there is still 10x, maybe even 100x long-term upside from current levels. Ethereum hasn’t come close to mainstream adoption yet, but there are hundreds, possibly thousands of applications in development. Many of these applications are focused on making Ethereum more accessible and user-friendly. The world wide web was extremely inaccessible in the early days until Netscape came along and made it much easier for the general public to browse the internet. As the experience of browsing the web became much more accessible, usage exploded. Ethereum hasn’t had its “Netscape” yet, but it is in development. As these projects come online over the next few years, millions of people will be introduced to Ethereum, and its value will skyrocket.
Even though more and more people are introduced to Bitcoin every day, the network can’t handle any more transactions. Because of this, many developers have chosen to develop their apps on the Ethereum blockchain instead. In the case of Storj, they actually moved from the Bitcoin blockchain to the Ethereum blockchain because of the network congestion and high fees.
While the general public is just becoming aware of Ethereum, it already also has the backing of major global corporations. The recently formed Enterprise Ethereum Alliance consists of giants such as Intel, J.P. Morgan, and Microsoft. Since the EEA launched on Feb. 28, 2017 they have received hundreds of new applications for membership.
There will likely be some growing pains along the way, but Ethereum has a great development team. Ethereum’s founder, Vitalik Buterin is very well-respected and most people in the Ethereum community believe in his vision. Having a strong leader at this stage in development is extremely important because protocol upgrades can be much more easily implemented. Since Ethereum is a relatively new cryptocurrency, its developers have had the opportunity to learn from mistakes that Bitcoin and other earlier cryptocurrencies have made and have plans to preemptively solve them.
The Ethereum protocol is continuously evolving, there are myriad applications in development, and the user base is exploding. In a couple of years I wouldn’t be surprised if I was asked to answer “Which one is the most promising cryptocurrency next to ETH?”
, works at Webcom Systems
Here are the best 3 currencies other than Bitocin:
Litecoin took a place in the cryptocurrencies market in 2011 and it was one the first few currencies following bitcoin.
It was created and introduced by “Charlie Lee”. At that time, people referred to Litecoin as silver while bitcoin was referred to as gold.
it is based on a global payment network that isn’t controlled by any central authority.
It has more advantage than BTC in the time that is taken to confirm its transactions in addition to its acceptance by many companies and merchants.
So, for me I think it’s one of the most promising cryptocurrencies in the long-term.
Dash was introduced to the market in 2014 and has witnessed a growing number of users in a very short time.
Some people referred to Dash as darkcoin and I like this name personally. It was made and introduced to the market by Evan Duffield.
One advantage of Dash is that you can mine it using CPU and GPU and you can look for videos in Youtube if you want to learn how to mine it.
So, it also has a promising future.
It was introduced to the market in 2014 and its advantage is that it’s not controlled by any third party.
There are many developers who are working on developing and running apps in Ethereum.
It was divided in 2016 into Ethereum and Ethereum Classic.
I think it is the No.1 cryptocurrency after Bitcoin.
, Editor at CoinNoob.com
This cryptocurrency is not only still trading at half the market cap of bitcoin, but its core technology will change the way “things” work. The main feature of Ethereum is that it can be used to build a safe, fast and reliable de-centralized network.
Many experts describe ETH as the world computer. And it might very well be the biggest technological advance since the internet.
Its applications range from healthcare and online gambling to banking and politics.
At the time I am writing this post it is trading at around $220. I expect it to double in the next couple weeks.
, Runs an Ethereum Mining Rig
In my personal opinion, the only real stable altcoin currently is Ethereum(ETH), and possibly Ripple. Ethereum currently has a market cap of $32.9 billion to Bitcoin’s $41.2 billion and also has a 24-hour volume of $1.4 billion to Bitcoin’s $1.7 billion, making the two currencies fairly close. Ripple, the third largest cryptocurrency, is rather far behind with a market cap of only $10 billion.
However, the way cryptocurrencies have been growing over the past few months, almost any of the top 25 cryptocurrencies could grow exponentially one day. Recently, BitShares grew from 22nd (in terms of market cap) to ninth over the course of about a week.
One of the main uses of cryptocurrencies for many is to anonymously buy things on the black market. One of the larger markets, Alphabay, is now supports Bitcoin, Monero, Ethereum, and ZCash, which would make those three other currencies promising alternatives to Bitcoin.
A nice website to find cryptocurrency market caps and growth is: CryptoCurrency Market Capitalizations
, works at Cryptocurrencies
The most important thing to know is how many nodes are connected to Ethereum. Many times more than Bitcoin. Ethereum is still significantly undervalued based on connectivity to scalability in the business-to-business space. The true underlying value comes as a practical and viable replacement to EDI (electronic data interchange) and API (application protocol interface)-based architecture. The method to assess viability is check the http://MEETUPS.COM ethereum meetups and Dapps store to see what developers are doing. This is going to be much bigger. There will be periods of adjustment, e.g. coming up, we will see anti-competitive behavior from banks derisking having a short-term impact on the capacity to convert fiat cash to Bitcoin and then to Ethereum. Watch out for Shapeshifter, which is now being used as native translation of Ethereum by Wirex and similarly organized exchanges, making it simple to convert Ethereum. Expect minimum rise to $200 for Ethereum value within 6–9 months.
EOS and NEM are in my opinion more promising than Ethereum and more likely to deliver on those promises.
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