The market has seen huge ups and down in this month. We have seen that Bitcoin going below $1900 and Ethereum price at $138.I will talk about 5 altcoins that are selling below $1 and have great potential in coming years. So we are going to see their underlying technology and potential user of this coin.
IOTA: IOTA is the new distributed ledger technology to function as a pillar of Internet of things. Many of you are already familiar with IOT, those who do not know please go through this wiki link. According to Forbes IOT market will reach to $267B, that is huge.
Above all tangle is used instead of the global blockchain. It has some key features like,
1)No transaction fees
Currently, it is selling under $0.30 and its total market cap is around $712,001,698
SiaCoin: It will be used for the decentralized private cloud. Now we have many cloud providers like Amazon Web Services, Microsoft Azure, Google Cloud Platform, IBM Cloud, DigitalOcean, Oracle Cloud, Red Hat, Verizon Cloud and much more. But they are completely centralized and charges are more compared to that.Amazon cloud charges around $11.99/year for unlimited photos and $59.99/year for unlimited everything. It will be 10x less expensive than current cloud storage providers.
Ripple(XRP): Ripple is the open payment network and distributed ledger software provider that will ease inter-bank payment system. The current system like PayPal, banks, credit card and other institutions has some flaws like charges for exchange and delay in processing. Ripple will make instant, certain and low-cost international payment. In terms of market-cap, it is third after Bitcoin and Ethereum. They have some big names as validator like Microsoft, MIT, CGIWorldLink, Telindus-Proximus Group, Swedish ISP, Bahnhof and AT TOKYO Corporation. It has it’s max to $0.33 in may, now currently it is selling below $0.16(20-July-2017).
DigiByte (DGB): It is a decentralized global blockchain focusing on cyber security, payments & secure communications. Many applications are built on DGB like Bttrex, Poloniex, Digihash, Shapeshift, The Blocksfactory, Digibot – Telegram, DiguSign and DigiByte Gaming. Security is the key issue of any type of application. This could become a key player whenever blockchain application will start to flow.
NEM (XEM): It is a digital currency for the digital economy. It has invented a new concept Proof-of-Importance which is alternative to Proof-of-Work and Proof-of-Stake, two other concepts for securing relationships in a decentralized network. So it is very different from Bitcoin and other cryptocurrencies.This article has a very nice explanation.
Disclaimer: The trading of Bitcoins, alternative cryptocurrencies has potential rewards, and it also has potential risks involved. Trading may not be suitable for all people.