Let’s face it, cryptocurrencies offer many innovative answers to a lot of different problems. The industry as a whole is finding new ways to disrupt current stagnant markets. There are many cryptocurrency projects that do amazing things, but how do you know which ones are worth your time?
From the hundreds of creative and inventive projects available, we’ve chosen four that we think you should know more about.
Ripple (XRP)
Ripple is one of the more innovative projects in the market in that has created a payment protocol which gives banks the ability to send international payments in real-time. They can do this without needing to use a clearance hub or a centralized third-party.
This digital asset is designed so that it meets the rules and regulations for all banks and centralized financial institutions. Enterprise businesses can implement Ripple on top of the Swift network that all banks use.
The biggest problem that Ripple is solving is the problem of international payments. For those that use international banking on a regular basis, Ripple is a great way to cut down on fees and transaction times. Many banks are adopting Ripple, especially since the project offers a plug and play option for their issues.
For more info about Ripple, check out TotalCrypto’s guide on how to buy.
Cardano (ADA)
Similar to Ethereum, Cardano is a platform utilizing smart contracts. The difference with Cardano is that it can support the needs of those on its platform and align them with regulator demands. Cardano is a project that wants to handle running monetary applications that are currently in use by government, companies, and individuals throughout the globe.
Cardano shows off its innovative abilities by developing a blockchain network for a specific use case. It’s not just an Ethereum knock-off. As a result, it’s a cryptocurrency worth watching in the foreseeable future.
ZCash (ZEC)
Another innovative cryptocurrency showing significant signs of promise is ZCash. This digital asset is a permissionless coin which protects user privacy during a transaction. The project does this by using its zero-knowledge cryptography algorithm. To put it plainly, transactions that take place through ZCash are private.
Since ZEC is a secure transaction option, many users who prefer to have anonymity realize the value that the project brings to the table. This value will continue to grow as users realize that there are few options for privacy and anonymity in the world today, especially when making an online payment.
Additionally, ZCash shows that its more than just a secure and private transaction company. Currently, the company is improving on memory consumption for private transactions. The development team makes the claim that it can drastically reduce the amount of memory required to complete a private transaction. In the world of crypto, this is significant indeed.
To learn more about ZCash, check out CoinBureau’s guide to everything ZCash.
Stellar (XLM)
Last on our list, but definitely not least, is Stellar. The Stellar project aims to provide efficient, inexpensive, and fast services to individuals who need to make international payments. While this might sound similar to Ripple, Stellar prefers to focus on the individual user. Ripple is geared more toward large financial institutions.
For example, a company like Paypal, which is used for peer-to-peer transactions, charges roughly 3% for all transactions that occur on its platform. Comparatively, Stellar offers lower fees and a transaction speed of around five seconds. If you need to make a cross border payment, but don’t want to wait a few days and don’t want to pay huge fees, check out Stellar.
Many, Many More
These four projects are just the tip of the iceberg when it comes to innovative cryptocurrency projects. As you learn more about these, you’re likely to discover other projects that pique your interest. There is no shortage of exciting and disruptive projects available in the world of cryptocurrency.
Video – Cryptocurrency
Do you know what a cryptocurrency is? If you are not completely sure, watch this Market Business News video. It is aimed at lay people.