Altcoins are the alternative cryptocurrencies launched after Bitcoin, and generally, they’re used describe any cryptocurrency that is not a Bitcoin.
But like the defintions of all disruptive new technologies, the altcoin definition is subject to debate. Some argue that Ethereum is not an altcoin.
Altcoins project themselves as better substitutes to Bitcoin and many try to target any perceived limitation that Bitcoin has. They try and come up with competitive advantages.
There’s a huge variety and number of altcoins — 1,194 as of Oct. 24, according to a Just Crypto News report.
Following Bitcoin’s success, many other peer-to-peer digital currencies have emerged to try and imitate that success. Most involve a mining process and offer efficient and cheap ways to carry out transactions on the web. But even with overlapping features, altcoins vary widely from each other.
Bitcoin still heads the virtual currency pack. Newer alternatives offer modifications in areas such as transaction speed, privacy, proof-of-stake and DNS resolution. A few have gained popularity. Litecoin is seen as the closest competitor to Bitcoin, according to Investopedia.
This question, “What are 5 altcoins which will boom in December 2017?” originally appeared on Quora, the knowledge sharing network where compelling questions are answered by people with unique insights.
Answers below are by Devin Milsom, Jan Banan, Swapnil Shukla, Vladimir Marjanovic, Md. Tarekuzzaman, Avi Nash, Muhammad Nur, Daniel Kraeuter, Alessandro Carvalho, and Cryptomaniac.
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Here are 5 that have potential to boom in December:
Neo have been very quiet recently, and the community are suspecting that big announcements will be coming soon – possibly China unbanning cryptocurrenies.
2. Power Ledger
“Australian Government Awards Grant to $8 Million Blockchain Energy Project”
One of Bitcoin’s massive scalability issues is the overwhelmingly large electricity consumption the network takes to operate. Every single Bitcoin transaction uses the same amount of electricity as 7 U.S. household per day!
Power Ledger are aiming to create an environmentally friendly Blockchain that is scalable. I believe this project is in its infancy and will boom very soon.
Cardano has the potential to dominate the market, presenting a far superior blockchain technology.
Great team with a great vision, really believe that the value will shoot up in time.
5. XLM – just a guess.
No one can predict when a coin will boom. I’ve just listed a few that have a higher probability of doing so.
My guess is ZCoin.
Still cheap and unknown, only 3 million coins exist(!) so even if the price goes up 100x the market cap is still “low”
In addition it has a whole new way of doing completely private transactions, not just by mixing like other “privacy” coins does. This is not really 100% private since you can still follow the trail of transaction and analyze the network topology. ZCoin has a much better solution, where they actual coin and its history is removed, and a new coin with no history is redeemed.
Lisk has an upward potential. It is trying to solve two fundamental problems that Ethereum has.
1. Scale : Sidechain would allow each dapp to run its own blockchain. This will ensure that multiple dapps don’t compete with each other for mining resources.
Tech aside, they have a few events coming up as well, Berlin Meetup and SDK release. There is a rumor of some collaboration with Google.We are in a crypto bubble right now. Everything is getting pumped up by news. These events will pump the price up in the next couple of months.
Others are Neo, Dash, Binance Coin (BNB) and Litecoin (LTC).
Disclaimer : This is not a financial advice. Invest after doing your own research.
If not in December 2017, then Q1 2018:
BlockMason Credit Protocol have huge potential. Credit Protocol is upon Ethereum blockchain and use case is registration of loans and debts. They’re about to release LNDR app. which integrates PayPal, Venmo and cryptos.
Quantstamp is a protocol for securing smart contracts. Huge hype.
GoNetwork is the winning team at ETHWaterloo, the world’s largest Ethereum hackathon. Purpose: allowing off-chain transactions designed for the trillion-dollar mobile economy and commerce market.
Ethbet: first decentralized, peer-to-peer, and provably-fair Ethereum-based dicing game without a house edge. Total supply: only 10M.
Very interesting concept baked by proven team and results.
In a time of countless bitcoin hard forks, a project is slowly but surely gaining momentum: Bitcore. Besides the fair start without ICO, coin claiming for Bitcoin holder, weekly airdrops and a GPU-friendly mining algorithm scores above all by its experienced developers and the latest crypto-tech.
The story of Bitcore begins on April 24, 2017 with Bitcoin Block #463619, born as a “cheeky” response to the scaling debate in Bitcoin. Since the beginning, BTX offers 10 MB blocks and already after a few weeks, Segwit has also been successfully implemented.
Bitcore’s specifications are strongly oriented towards Bitcoin and try to overcome its greatest criticisms. With huge success so far, the 21 million limit of coins will be reached at a similar time point as Bitcoin. In addition, there is an intelligent difficulty adaptation which can compensate for strong fluctuations in the mining power without risking decaying into OSCILLATIONcontrast to, for example, bitcoin cash (BCH), which has been struggling with extremely fluctuating block times for weeks.
Already on Oct. 30, a second snapshot of the Bitcoin Block chain was created, which allowed every lucky BTC owner to claim additional $BTX(50% of balance). In addition, weekly airdrops of 3%+++ on existing BTX holdings.
The backbone of the whole project is provided by the experienced developers, who have already proven with Bitsend that they can handle an innovative, fair and stable blockchain project.
Whatever you decide to invest, do at your own risk.
Ripple/xrp, ether/eth, litecoin/ltc, dashcoin/dash, and perfect boom is bitcoin/btc
BCH – With people like Roger Ver and many other big egos supporting it, it sure will boom soon. If you have no idea who Roger Ver is, he’s known as Bitcoin god. Owns huge amount of btc and alone can control pump and dump of BTC/BCH ..
POWR – Only coin with purpose. Trust me this will be a huge hit in coming days. It has already grown 50% in 4 days of its release on bittrex.
Neo – With huge China backing, it sure will go to places.
LTC – It’s highly undervalued at the moment.
I have put my money on Dash, Monero, Bitcoin, Neo and I must admit PowerLedger is interesting.
ETC, MONERO, DASH, NEO and BITCOIN.
Bitcoin, Ethereum, Litecoin, Ripple and Dash — as you all know these are top.
Apart from that, Neo, Vertcoin (VTC), OmiseGO (OMG), Stellar Lumens (XLM), Zcash (ZEC), OKCash (OK), Monero.
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