Everyone is enthusiastic about the crypto-coins and the future of decentralized assets.
Looking at the large amount of altcoins / tokens, it is almost impossible to search one by one, with the intention of making a good investment. With this post, we want to teach you a fairly simple method to check if a currency is worth investing in ... before you understand how it works or how it will reach your goal, I try to understand a simple question:
What problem does it solve?
So without further ado, here are the top 70 altcoins per marketcap, summarized by the problem they are trying to solve.
If you think I misjudged the problem they are trying to solve, leave a comment with a one- or two-line summary of the problem, and I will review it.
Bitcoin
The problem you want to solve: The world economy is very connected, and in the long run it is unstable.
Bitcoin is a long-term investment medium separate from centralized fiat-based institutions; It is a USD hedge disconnected.
Ethereum
Problem to solve: short term: the need for a platform to issue ICO tokens (and sell them with smart contracts); Medium-term: legal contracts are inefficient; Long-term: meet AI demand (artificial intelligence)
Ripple
Problem: The banking system is disjointed and contains thousands of accounting systems scattered around the world, it would be better if all were interconnected in the same system; Dealers inject insane amounts of capital to facilitate payments where in a more efficient system they would not be needed.
Connect all payment systems in one, provide a blockchain system for banks use.
Litecoin
Problem: Substitute currency of Bitcoin, an evolution of Bitcoin.
Ethereum Classic
Problem: Ethereum can not modify the network to reimburse losses for those who have created faulty codes. The code is law.
NOR
Problem: Creating a decentralized currency is not enough, it is necessary to develop a set of tools around the currency.
IOTA
Problem: There needs to be a way to interconnect devices on the internet of things to communicate with each other, without fees.
Dash
Problem: Digital currencies must be consumer friendly, and there must be an integrated process in the network to enable marketing finance and consumer-friendly product development.
BitShares
Problem: Assets currently traded on inefficient privatized platforms, assets should be traded at "something" higher. Example: Ethereum is too slow to handle fundraising for ICO and a faster platform (BitShares) is needed.
Originally created as a platform to create digital assets and track investments (such as gold and silver), it offers a decentralized exchange and a platform to generate new assets.
Stratis
Problem: Corporations need a company to help them create private blockchain ... I actually do not understand how the token fits into a private company that develops Blockchain solutions. Who knows, please explain in the comments.
Private block development company that also has an altcoin, apparently companies may use this altcoin to start a private Blockchain in their network.
Monero
Issue: Payments on a decentralized network must be anonymous.
Zcash
Issue: Payments on a decentralized network must be anonymous.
Waves
Problem: ICOs in Ethereum are slow, they should happen on a faster and easier platform with decentralized exchange.
Golem
Problem: People should be able to rent idle time from their computers for any tasks.
Super decentralized computer ... We still can not rent your computing power. Still in Alpha phase.
Bytecoin
Issue: Payments on a decentralized network must be anonymous.
Steem
Issue: Creators must be paid in a decentralized currency for content published on social media.
Siacoin
Problem: Centralized (and later distributed) computing platforms (especially storage) are overly expensive.
Decentralized private cloud encrypted from end to end.
Iconomi
Problem: Investors want to diversify into altcoins, but it would take a lot of time to invest and secure dozens of different altcoins.
Tokens that derive dividends in ETH's ICONOMI business, which purports to be as an index fund for digital assets.
BitConnect
Problem: fools are easily separated from their money.
Invest your money in this new and improved ponzi scheme.
Dogecoin
Problem: Bitcoin simply does not have enough memes.
What happens when your dreams become memes. (One of the earliest "joke" coins has a large community behind it)
Stellar Lumens
Problem: Same as Ripple, the goal of connecting banks, payments and the underlying ones for a low cost.
Lisk
Problem: It is very difficult to create new blockchain applications.
The Blockchain platform allows you to create sidechains and create other products on the platform.
Augur
Problem: Centralized betting platforms are centralized, expensive and open to manipulation.
Decentralized forecast market, bet with real money on results.
AntShares
Problem: The same kind of issues that Ethereum is trying to solve.
Chinese blockade project, aiming to provide a platform of smart contracts: "Ethereum of China" - Rebranding as Neo.
Burning
Problem: It's very difficult to create new Blockchain applications. Ardor wants to facilitate developments for these new applications.
GameCredits
Issue: The currency in the game must be transferable and all games must use the same currency.
An altcoin that will be used by online games
Factom
Problem: Storing critical items should be decentralized in a Blockchain "book", especially to keep undisputed evidence in a possible audit.
Also a decentralized storage provider, however focused more on creating an audit trail for digital documents.
Gnosis
Problem: Betting platforms are centralized, expensive and open to manipulation.
Decentralized forecast market, bet with real money on results.
MaidSafeCoin
Problem: Storing critical items should be decentralized in a block book.
Decentralized private cloud encrypted from end to end.
Decred
Problem: it is very difficult to solve in a significant way the problems that Bitcoin faces, the governance of a network must be incorporated into the network.
Decred is an altcoin that aims to solve the governance problem that attacks Bitcoin.
Nxt
Problem: It is very difficult to create new blockchain applications, new blocks will solve problems and need to be tools to create these chains.
Komodo
Issue: Payments on a decentralized network must be anonymous. Smart blocklock / contract applications should be more private.
DigiByte
Problem: Bitcoin development too slow? In fact, we could not find much evolution for DigiByte.
Byteball
Issue: Many transactions and interactions occur on mobile phones and in chat rooms, payments and smart contracts must exist in these conversations via chat bots.
DigixDAO
Problem: Buying "custody" gold requires a lot of confidence and would be more efficient in a chain of blocks.
Basic Attention Token (BAT)
Problem: In the advertising industry only ad publishers are profiting.
BAT allows users to also profit from the time spent on viewing ads.
Veritaseum
Problem: P2P digital coins are cheaper than conventional products. What I can not understand, is how Veritaseum is doing something better than Bitcoin has already done, or Ethereum's smart contracts are doing ...
They claim totally autonomous contracts that will allow people to acquire stocks, mutual funds, etc ... But who owns the real good in the real world?
FirstBlood
Problem: eSports platforms are centralized and inefficient.
MobileGo
Issue: Mobile app platforms are centralized and do not reward your developers enough.
Connected to GameCredits? I guess
Tether
Problem: There needs to be a decentralized form of USD to enable faster encryption.
Numeraire
Problem: The stock market is inefficient in creating a machine learning hedge fund, a decentralized effort with anonymous data could produce better results.
SingularDTV
Issue: Artists and creators must be able to deliver their content directly to a P2P market.
SysCoin
Problem: There must be more applications in the block chain for people to use, such as a decentralized market.
BitcoinDark
This coin is a rebranding of Komodo.
PIVX
Issue: Payments on a decentralized network must be anonymous.
Aragon
Problem: Companies must register in a decentralized accounts book, a DAO that has an integrated judicial system.
MCAP
Problem: It is very difficult to invest in different ICOs, but it is very expensive to invest in crypto-coins mining on your own.
Emercoin
Issue: Blockchain platforms need to create capabilities for transactions to occur to as many different customers as possible.
- Emercoin seems to offer something like a dozen different products. I did not really have time to research each of them and the problem that each one solved, but one of them was a decentralized torrent tracker that looks pretty cool.
Ubiq
Problem: Ethereum smart contracts are not good enough, the Ethereum network is not stable, etc.
Peercoin
Problem: PoW is not a good system for cryptomedas, PoS is better.
Peerplays
Problem: Betting platforms are centralized, expensive and open to manipulation.
Ark
Problem: Blockchains are very difficult to create, consumers want interconnected blocks.
Lykke
Problem: There is no easy way for traders to keep coins and market them on a screen.
Lykke, the company issued colored coins representing his company, which provides an application and exchange of multi-asset shares.
Round
Problem: eSports platforms are centralized and inefficient.
Storjcoin X
Problem: Centralized cloud storage platforms are overly expensive.
Decentralized private cloud encrypted from end to end.
ReddCoin
Problem: You should be able to send digital currency on social networking platforms.
IExec RLC
Problem: Centralized (and later distributed) computing platforms (especially storage) are overly expensive.
Asch
Problem: It is very difficult to create new blockchain applications.
The Chinese Blockchain platform allows you to create sidechains and create other products on the platform.
Melon
Problem: There are no tools for consumers to easily invest in digital assets or funds with digital assets.
"Decentralized management of funds"
Wings
Problem: It is very difficult to create and manage DAOs or ICOs / crowdsales for DAOs.
"A platform for the creation of autonomous decentralized organizations".
Quantum-Resistant by Ledger
Problem: Bitcoin will be weak to quantum attacks in the future.
Nexus
Problem: Why are there no digital coins yet in space?
Edgeless
Problem: casinos take advantage and should not exist.
Namecoin
Issue: Domain names are issued by a centralized authority and this causes censorship.
Counterparty
Problem: Bitcoin is limited, you should be able to generate assets on top of it.
Counterparty allows you to send assets and smart contracts with Bitcoin.
Synereo
Issue: Creators must be paid with a P2P currency paid by their readers / audience.
Verge
Issue: Payments on a decentralized network must be anonymous.
Omni
Problem: Bitcoin is limited, you should be able to generate assets on top of it.
Issue of assets over Bitcoin.
Printerium
Problem to solve: None
Conclusion
I may have missed some important detail from some of the altcoins, if you think I misjudged the problem they are proposing to solve, leave a comment with the summary of one or two lines of the problem and I will analyze it!
Nothing in this article should be considered advice of any nature. Do your own research on what you buy. This is not financial or investment advice. All opinions are mine, these are stated as opinions, not facts.
This is a great article. Today is my first day on this community and I definitely didn't expect to find such a good article as my first post. Simply awesome. I will read all your posts.