If you’ve been following our website, you know that we’ve been writing overviews of a number of cryptocurrencies. As we put them together for you, we were wondering what the collective noun for cryptocurrencies should be. We settled on “fleet” since we all like to think of our favorite coins as spaceships bound for the moon. We are not selling you our spaceships, but you can take test rides by reading our articles on Nano, Bitshares, OmiseGO, VeChain, Stratis, Populous, and Bytecoin. There are also informative articles on Bitcoin Gold and Bitcoin Private for your reading pleasure.
A Change of Mind
Like most people, I came into this space first by hearing about Bitcoin. After some time, I learned that there are other cryptocurrencies with other functions. I dismissed most of them without looking at what they had to offer. This was usually the case whenever I heard about a new altcoin until I came across chesscoin on my favorite website for playing chess.
You see, I am an avid chess player too. As a result, I was immediately interested in this chesscoin. I quickly found out when it was created, who its developer was and if the project was not abandoned. Here, I was looking at a poorly promoted cryptocurrency created in 2016 with an okay wallet. I was wondering why I had not come across this earlier and why it hadn’t caught on already since there were millions of chess enthusiast worldwide. I felt there were a lot of things this chesscoin could do for an e-sport like chess. For instance, chess players who already played chess online for fun could be willing to accept it as prize money if the coin became popular enough.
Let me cut the story short. The chesscoin bit was just to get this point accross. This experience made me realize one thing. If I could be interested in a 1052nd ranked coin with small volumes on only two exchanges, surely other coins would be of interest and use to others. Since then, I never wrote off any cryptocurrency project without at least trying to understand it. There are different groups of people with different interest and different problems. It makes sense for there to be different cryptocurrencies solving different problems.
Touching On the Featured Cryptocurrencies
Now, if you happen to run a business and think the charges you pay for the payment system you use are outrageous, Nano could excite you. Nano wants to give you fast transactions with no fees. Also, if you want to leverage blockchain technology to assist you with invoice financing, then you should check out our article on Populous.
You might even be an entrepreneur or an investor in traditional companies. Some aspects of how companies are run could be frustrating for you. Should this be the case, you might want to take a look at Bitshares and its distributed autonomous companies
For those who prefer to keep their business to themselves and themselves only, the Bytecoin article would be a good one to start with. Bytecoin, the father of most privacy-focused cryptocurrencies today, still has privacy as its main focus. In addition to that, you have two minute confirmation time for transactions. Fast transactions can be had on Bytecoin too. There is also information on future developments to expect on this cryptocurrency.
Ethereum based OmiseGO talk about the blend of the traditional banking and blockchain technology to bring about an improved service for people already connected to the traditional financial system. The common saying is “bank the unbanked”, but OmiseGO wants to “unbank the banked.”
VeChain allows the creation of decentralized apps or dapps on its platform to help solve problems in various industries. For instance, their application of radio frequency identification (RFID) technology helps in determining the authenticity of high-end products. Blockchains are useful for this due to their feature of immutability and trustlessness. There is more of this and other applications of technologies in our VeChain article.
What’s your take on crypto dividends? We also cover how the latest Bitcoin fork, Bitcoin Private, has fared so far and what could make it even more relevant in the future. There is Bitcoin Gold and its plans to make Bitcoin decentralized again through decentralized mining.
There is Stratis too. Its creators call it the blockchain as a service because of the different applications with different use cases that can be supported by the Stratis platform. You will find out more about Stratis and its smart contracts, side chains, and its programming school in this edition.
They Are To Make You Aware Of Existing Projects
Again, the aim of these articles is not to get you to add them to your portfolio, but to simply inform you about what there are and what they do.
We couldn’t have brought you all the cryptocurrencies at a go but we hope you enjoy learning about the ones we featured. Whether they are good projects or shitcoins is for you to decide for yourself. Either way, enjoy the Ride!