Those who invested in Bitcoin at its lowest price points have already reaped substantial rewards. However, not every investor had the opportunity to enter at the most optimal historical moment.
The year 2017 was widely regarded as a period of intense excitement for cryptocurrencies. Many observers watched as Bitcoin surged from just over $800 to nearly $20,000 by year-end. Its rapid ascent left little room for reaction, and countless individuals felt they had missed a golden opportunity.
Every innovative technology undergoes a phase of explosive growth at a particular stage, and cryptocurrencies and blockchain are no exception. We have witnessed the rise of social networks, email, and search engines, each eventually finding their most suitable applications despite initial technical limitations.
Some claim the cryptocurrency market faded in 2018 as Bitcoin's value halved and fell below the $7,000 mark. Nevertheless, many prominent figures in finance remain cautious about declaring a bubble in Bitcoin or the broader digital currency space. Both domestic and international investors continue to show strong interest.
For today’s investors, the good news is that new digital currencies continue to emerge. While most may not achieve the same level of success as Bitcoin, it is undeniable that a few stand out as potential future stars in the crypto world.
A Yale University professor recently highlighted in a blog post several promising cryptocurrencies that, while still under the radar for many, deserve attention in the next phase of digital currency evolution.
Vertcoin: The People's Currency
Launched in 2014, Vertcoin originated as a hard fork from LiteCoin. Consequently, it shares several characteristics with Litecoin, including a total supply of 84 million coins, a block discovery time of 2.5 minutes, a four-year halving cycle, and support for SegWit, the Lightning Network, and cross-chain atomic swaps.
What sets Vertcoin apart is its use of stealth address technology and an ASIC-resistant algorithm. The development team behind Vertcoin is committed to long-term resistance against centralized mining, meaning anyone can participate in mining Vertcoin.
Moreover, Vertcoin is maintained by a group of volunteers. It did not use an ICO or presale for fundraising; instead, project funding comes entirely from user donations. These features have earned Vertcoin the nickname "the people’s currency."
Last year, Vertcoin achieved several milestones, including support for the NanoS cold wallet, implementation of SegWit and the Lightning Network, and cross-chain atomic swaps with Litecoin.
Reports indicate that Vertcoin plans to release a one-click mining client, mobile wallets for iOS and Android, anonymous transactions, and atomic swaps with Bitcoin in the coming year.
Some media outlets have even dubbed Vertcoin the "Litecoin killer." In fact, as early as 2014, an International Business Times article mentioned Vertcoin as a potential successor to Bitcoin, noting that it aimed to offer an alternative by building on Bitcoin’s foundation while making adjustments to counter Bitcoin’s monopolistic mining market.
After three years of relative quiet, Vertcoin’s price showed significant movement in 2018. According to CoinMarketCap, over 41 million VTC are currently in circulation, with a maximum supply of 84 million.
As of April 4, 2018, Vertcoin was trading at $2.1 per coin, though it has experienced considerable volatility, having reached over $9 per coin in January of the same year.
IOTA: Dominating the Internet of Things
Some speculate that in ten years, the dominant cryptocurrency might be IOTA.
IOTA is a non-blockchain digital currency designed for the Internet of Things (IoT), focusing on secure machine-to-machine payments. This represents a significant divergence between currency applications and blockchain technology in the crypto space.
What makes IOTA unique among cryptocurrencies is that it does not rely on an underlying blockchain. Instead, it uses a Directed Acyclic Graph (DAG) structure known as the Tangle. This technology allows for faster transaction processing and theoretically enables an unlimited number of fee-free transactions.
The Tangle mechanism means that not all nodes need to confirm each transaction; only a subset is required. This addresses some of the scalability issues that plague leading cryptocurrencies like Bitcoin.
If IOTA can successfully leverage this technology, it could eventually dominate the IoT-driven economy.
The Internet of Things, in simple terms, refers to connecting everyday objects to the internet, making them "smart." This includes remote-controlled televisions, refrigerators, water dispensers, self-driving cars, and glasses that can browse the web.
As IoT devices become increasingly autonomous, IOTA enables micro-payment transactions between these devices using cryptocurrency. In the future, you might shop online using your smart glasses while riding in a self-driving car.
IOTA was first listed on Bitfinex Outlier Ventures in June 2017 and is now available on major cryptocurrency exchanges. Wallets supporting IOTA are available for various operating systems.
Cardano: A Grand Vision in Cryptocurrency
Many may not be familiar with Cardano, but several scholars consider it one of the most ambitious blockchain projects to date—a cryptocurrency aiming to revolutionize smart contracts.
According to its development team, Cardano is "designed to provide more advanced features than any protocol previously developed." It addresses limitations seen in first-generation cryptocurrencies like Bitcoin and supports smart contracts better than second-generation ones like Ethereum.
Cardano is also known for its academic rigor. It boasts a globally renowned team of scholars and engineers who have incorporated methodologies from aerospace and banking critical systems into the project’s design.
Cardano seeks to create a balanced and sustainable ecosystem that reconciles user needs with regulatory requirements. By balancing privacy concerns with compliance, Cardano aims to bring financial services to mainstream audiences in a fair and accessible manner.
At the same time, Cardano may be one of the most undervalued cryptocurrencies. Its native token, ADA, saw its market cap increase twentyfold in less than a month after listing—a level of volatility uncommon even in digital currency markets.
As of April 4, 2018, Cardano’s token was priced at $0.17, with a total market capitalization of $4.47 billion. CoinMarketCap data indicated that nearly 26 billion ADA were in circulation out of a total supply of approximately 45 billion tokens.
If Cardano’s philosophy and vision come to fruition, it could pave the way for a truly revolutionary transformation in how we interact with financial systems.
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Frequently Asked Questions
What makes a cryptocurrency promising for global adoption?
A cryptocurrency with strong technological foundations, real-world utility, and active community support tends to have higher adoption potential. Features like scalability, security, and unique use cases also contribute to its growth.
How can I identify undervalued cryptocurrencies?
Research projects with solid fundamentals, innovative technology, and transparent development roadmaps. Analyzing market trends, team credibility, and partnership announcements can also provide valuable insights.
Are non-blockchain cryptocurrencies like IOTA secure?
Yes, IOTA uses Tangle technology instead of a blockchain, which offers unique security advantages. Its structure enables feeless microtransactions and is designed to support machine-to-machine payments efficiently.
What is the significance of ASIC-resistant mining?
ASIC-resistant algorithms allow broader participation in mining by preventing centralized control by specialized hardware. This promotes decentralization and aligns with the original democratic ideals of cryptocurrencies.
Why is regulatory compliance important for cryptocurrencies?
Balancing regulatory requirements with user privacy helps cryptocurrencies achieve mainstream adoption. Compliance ensures legitimacy, reduces legal risks, and builds trust among institutional investors and users.
How do atomic swaps work?
Atomic swaps enable peer-to-peer trading across different blockchains without intermediaries. This technology enhances interoperability between cryptocurrencies and reduces reliance on centralized exchanges.
Can cryptocurrencies like Cardano outperform Ethereum?
Cardano aims to improve upon Ethereum’s limitations by offering enhanced scalability, sustainability, and security. While success isn’t guaranteed, its research-driven approach provides a strong foundation for growth.