While many experts in the financial world caution about the potential bubble in cryptocurrencies, new digital currencies continually materialize. Despite the erratic nature of bitcoin—having soared to nearly $20,000 per coin last December, only to settle at just below $7,000 by March 31, 2018—fresh currencies consistently emerge. Not all will thrive, yet some might become significant players in the world of digital finance. In 2018, several lesser-known cryptocurrencies are worth monitoring.
Vertcoin is one example of cryptocurrencies that emulate bitcoin to some extent, including its foundational network and structure. The Vertcoin team consistently enhances its network, focusing on further decentralization. As of March 31, 2018, more than 41 million VTC circulate, with a capped potential of 84 million. Currently valued at $1.64 per coin, its price is quite volatile, having reached over $9 in January earlier this year.
Differentiating itself from traditional cryptocurrencies, IOTA aims to facilitate secure payments among Internet of Things devices. It stands out by opting for directed acyclic graph technology rather than a blockchain. Through this technology, IOTA guarantees free transactions, regardless of their size, and offers scalability alongside swift processing. This approach holds the promise of an infinite transaction volume, all of which are challenges that have beset leading cryptocurrency bitcoin. If leveraged effectively, IOTA’s technological edge might secure its dominance in the cryptocurrency sector. The current valuation is $1.09.
Cardano is another cryptocurrency that embraces an open-source philosophy, setting its sights on revolutionary progress.
Can these digital coins ascend to surpass bitcoin and lead the cryptocurrency market? While definitive predictions are elusive, savvy investors might find it worthwhile to track their developments closely.
