This article is telling about:
- irreversibility of a new coin appearance;
- features of an “ideal cryptocurrency”;
- real and potential BTC competitors.
The hype on the cryptocurrency market is just the beginning of a new era and the appearance of next big cryptocurrency is just around the corner. Nobody else can say with certainty whether paper money will be replaced with virtual coins at least in our everyday life. Technologies do not stand still and, in any case, part of the cash payments will be fully made online. Also, businessmen and investors are attracted by the smart contracts technology, which allows them to cooperate without a third party and provides a full agreement guarantee. Will the bitcoin remain a golden cryptocurrency standard and the undisputed leader of the list? Is there absolutely new next big cryptocurrency on the horizon?
No limits to perfection
New safety level
The world is arranged in such a way that everything existing in it aims for perfection. And it’s not just about only natural objects and living beings: everything that is created thanks to human intelligence is also directed to the best results. As for the cryptocurrency, nowadays it is at the first stage of its evolution. In this system there are still many shortcomings in terms of security, anonymity, reliability, predictability and other factors. If new coins appear, they simply must be better than their forefathers. So, the next big cryptocurrency should be, if not ideal, then head and shoulders above the previous ones, and especially in terms of hacking protection.
New creative team
Let’s get back to bitcoin. For almost ten years of the cryptocurrency existence, it has been keeping the champion title. All the rest, in fact, are its forks or altcoins if we look at the definition in the broader sense. Even the creators of such cryptocurrencies as ethereum or monero, although they refuse to recognize BTC as a close relative of their offspring, nevertheless they followed the footsteps of Satoshi Nakamoto. A talented developer, cybernetics, an excellent expert on the financial market and a brilliant promoter – everything is concentrated in this anonymous personality, behind which stands a whole team of specialists. The next big cryptocurrency author must offer a radically new sensational project from scratch, and will not follow the way of the blockchain at all.
New PR technology
How old is BTC? Almost ten, and for all this time, most people never really got to the bottom of it. We need to study the matter on our own to understand a little about such terms as “mining”, “tokens”, “exchanges”, “ICO projects”, “ASIC”. The information contained in the network fragmented, difficult and often incomprehensible. For the average Internet user, all these words are still gibberish. People who know mathematics and programming at the high school level are simply scared away with all these complex explanations about hashing and block generation. Many people think: “Aren’t they trying to cheat us again? “ That’s why next big cryptocurrency should be completely transparent, understandable and explained. Developers should make efforts to attract the ordinary users’ interest to their project.
Go back to reality
Let’s return from heaven to earth and leave the idea of the Super-Perfect-Coin appearance. If this happens, it is clearly not in the short term. So far, we see a list of cryptocurrencies in which bitcoin is an absolute leader, but the following LTC, ETH, DOGE, XMR and many others are likely to become next big cryptocurrency, why not? Let’s evaluate the chances of some of them.
LTC is the first coin which steps bitcoin toes. Its capitalization is growing rapidly, but the whole point is in the technical characteristics. Despite the absolute similarity in working principle, the calculation time of the LTC block is much shorter. Charles Lee – the creator of the coin – has recently been actively engaged in LTC improving and promoting. System was upgraded with SegWit, which made it possible to reduce transaction processing time and, consequently, reduce costs. There are large online retailers in the market, whose business is designed to receive litecoin. Also, the cryptocurrency attracts more and more investors. In a word, the opportunities for LTC to become next big cryptocurrency are quite real.
Ethereum has already threatened to overtake the almighty BTC since its appearing. Vitaliy Buterin – a young and ambitious programmer from Canada – introduced several completely new features. For instance the unlimited emission was provided. Also the idea of smart contracts has been introduced, and thanks to it ethereum is positioned as a prototype of a universal currency. Another advantage is the virtual machine ETH. The system allows you to create an almost unlimited number of applications based on the blockchain, all on a single platform! The idea of the ethereum is really interesting and the cryptocurrency has many adherents. However, the ups and downs – one need only recall the ETH “flash crash” on June 20, 2017 – don’t allow it to reach the Olympus. But Vitaliy continues to work and for sure does his best!
On New Year’s Eve 2018 the alarming hearings reached Mr. Bitcoin: ripple – one of the top 10 cryptocurrencies – is getting expensive by leaps and bounds, and has already managed to bypass ethereum! But to the joy of the “golden coin” holders, miners and investors, this anxiety was not a “handiwork” of Ripple itself, but the result of artificially created rumors that the CoinBase exchange was planning to allocate a significant part of its digital assets for XRP. Also, American Express and Santander have done the trick by including in their plans to use the Ripple protocol as a payment instrument. It should be noted that Ripple in its structure is closer to fiat money: its issue is more centralized, and the structure is built on a distributed Internet protocol with open source code.
The list of cryptocurrencies, which can be considered potential next big cryptocurrency, is really long. Even the bitcoin forks can be its competitive, because they are being created in order to optimize the existing currency. At this stage it is difficult to be sure which one will break out and become a sensation. Everything can change in a fraction of a second, because the digital world lives by its own laws. Let’s keep up on current events and continue to decide whether a BTC in hand is worth two Super-Perfect-Coins in the bush!