Lately, I’ve been looking at some of the most important cryptocurrencies out in the market right now.
Today, we’ll be taking a look at 3 very special altcoins out in the market right now. They are Byteball (at the suggestion of 
As a friendly reminder, if you just tuned in now, I wont be spending any time going over the basic info – what a blockchain is, how cryptocurrencies are mined, and other such stuff. I’ve made articles on those areas, and you can search them up on your own. This is an altcoin article.
Let’s get started shall we?
1 – Byteball
Byteball is the first one on our radar – and let me tell you, it’s pretty damn good.
Byteball is less of a currency here, and more of a decentralized system, where a lot of stuff can happen. This system takes advantage of a blockchain’s architecture to provide us with a a currency that has a lot of options as to how to use it – it blends payments with a ton of other systems.
Firstly, it allows for conditional payments. These are like an unholy merge of smart contracts and blockchain transactions – these payments will only occur if some conditions are met. If they’re not met, you can get your money back. This is as close to a refund as you’ll find on the blockchain!
It also has a chat platform, where you can send payments as you chat to someone. You can also chat with bots, who give you any information you want on your data as if you were speaking to a regular person. Furthermore, this currency allows you to bet on many things – sports events, future events, market fluctuations... and any money you make gets transferred to you instantly!
The most curious part about this cryptocurrency , however, is that for all it’s blockchain inspired goodness… it doesn’t work on a blockchain. It works by using DAG (Directed Acyclic Graph) technology. I won’t get into the technical here, but this tech is great. It eliminates many of the uncertainty present in blockchain mining – you don’t need to wait for miners to finish a block for you to make a transaction.
Overall, this one seems to be a trailblazer. While their numbers are not quite at where you’d want them to be in the market, they are likely to achieve them in the future. Watch closely.
2 – IOTA
Our next altcoin, like the previous, is more than just an altcoin – many call it a game-changing extension of the blockchain ecosystem… and I agree. But to start explaining it, we need to know some pointers about the Internet of Things.
I once did an article on the subject. Feel free to read it, but I’ll try to explain it shortly anyway. The Internet of Things (IoT, in short) is basically a paradigm, in which every device we interact with is interconnected with every other device in a network, akin to the Internet. This would allow for seamless interaction between machines, which would vastly improve our lives.
IOTA builds itself on this principle. It’s tailormade to work with machine-to-machine transactions in mind, from the ground up. Let’s take a little look at the technical details.
For starters, it works on the same technology as Byteball – DAG. This tech is proven better than blockchain at things like allowing for zero-cost transactions, as well as much better scalability (ability to grow, put shortly).
It uses a system called Tangle – a system that’s much better organized than the blockchain, which is what allows for its’ small cost. It’s worth researching these things on your own, it would take too much time for me to explain it.
The potential for this little altcoin, which is so much more, is staggering. As the Internet of things comes more and more into play, and a new Smart Device seems to be getting announced every couple of days, the demand for a good IoT currency will only increase, and this will fill that void.
It’s consistently ranking very well in the market. This one has much promise, and may one day be as commonplace as Bitcoin. Watch out.
3 – BitConnect
We’ve reached our last altcoin for today. This one does not quite live up to they hype of the previous two though, but I thought I might share it anyway!
This one, you see… does not quite smell right, for the market cap it has.
For instance – despite me searching as much info about it as I can, I feel like there is something that I’m missing – but it truly doesn’t feel like it has anything significantly different from Bitcoin. It’s just another altcoin that promises no transaction costs, and that guarantees good payment options between users.
…Things get shadier though. Throughout every page of the site, despite the good style, the writing shows spelling mistakes here and there. I find it weird that such a big service would show those problems. Also, in the bottom right corner of the main page, you see a notice from the company apologizing for taking so long to answer in customer service.
You’d suspect a scam by now… and yet their market valuation just keeps climbing! It was at 8$ just at the start of May this year. Now, you can find it at 120$! That crazy market climb is the only reason I bring it up. If someone can explain that success, I’d appreciate it, but this is suspicious for me.
Whether or not this is suspicious, it seems to provide some good opportunity for trading. I’d simply recommend that you don’t go long on this one. Hold it for a while as it values, but dump it at the first sign of suspicion.
That wraps this up!
And that’s it! Here’s hoping you learned a little bit with this piece!
I have no idea what I’ll write about tomorrow. If you have a suggestion, feel free to sound off in the comments below! Be sure to ask any question, or make any criticisms you want!
Steem on guys!