As 2018 nears its end, the effects of last year’s crypto boom are still being felt. Even though the current year has been bearish for most of its length, new altcoins continued to appear on the market almost every other day.
In addition, issues with scalability that many large cryptocurrencies are suffering from are slowly being solved by different methods. While this is all considered to be a positive development, the situation is slightly less encouraging when it comes to real-world adoption of cryptocurrencies.
Even so, some steps were made, and numerous efforts in different parts of the world are being made to one day make this concept a reality. In the meanwhile, crypto trading continues to grow, and investors are always looking for new aspiring coins to invest into.
This is why today, we will take a look at 3 new cryptocurrencies that are already showing real potential. Since any of them might grow to become the next big thing, it doesn’t hurt to keep an eye on them and follow their development closely.
1. SureRemit (RMT)
To understand what this coin is all about, we should first explain the concept of remittance. This is something that is very important for developing countries, as their citizens often struggle to survive due to a bad economy or other similar reasons. As such, it is not unusual for some of their citizens to leave their native country and travel to more developed places in order to work and send funds home via wire, online transfer, or some other method.
These funds that are sent back are what we call remittance. However, the process always has a middleman that is involved in some way, which makes the process both costly and slow. These costs can often go up to 10% or more of the total value that is being sent, and the length of the process can take anywhere from one to three days.
This is where SureRemit comes in, and it allows a solution to such problems by completely bypassing fees and the middleman. While the fees are still present, they will include 2% of the amount, instead of 10% or more. Not only will the receiver get more money out of this deal, but the process itself is also much faster.
The project itself is not aiming to become a transfer service based on blockchain technology. Instead, it relies on the fact that most of the money that is being sent will be used for consumptive purposes, such as buying food, paying bills, and alike. All that it takes is for merchants to accept vouchers that can be used for paying for goods and services.
An obvious question now is — why would merchants do this? The answer is simple — by doing so, they will boost their sales without having to spend money on marketing. Apart from that, merchants themselves will not lose anything, as they will still be paid in fiat currencies. The incentive has grown to be pretty effective up to this point, especially in struggling countries of Africa, the Middle East, Asia, or Latin America.
2. Scorum (SCR)
Scorum is a media platform based on blockchain technology. It allows users to receive rewards for creating quality content, and the rewards come in the platform’s native SCR coin. However, Scorum is a platform that focuses on a single niche, which is sports.
The platform has four components: Sports blogging, Fantasy sports, Commission-free betting, and a Statistics center.
Right now, the blogging platform is likely the project’s most exciting aspect, with more than 30,000 users, and 200,000 visits per month. This has made Scorum’s blockchain the 13th most active one in the entire ecosystem. This is already an exceptional feat, but it is even more impressive if we consider the fact that the coin has a market cap of only $7 million.
This is proof enough that the project does not need a lot of money in order to attract people, as long as it is done right. The platform also provides many with an opportunity to be creative and express themselves while at the same time, they would instantly attract a lot of traffic. In addition, as they do so, they can also get a reward in form of tokens, as mentioned earlier.
The project is pretty innovative, and it became an instant success due to the amount of interest in sports from all corners of the world. The betting platform is commission-free, and it offers a lot of unique advantages over other platforms. One of them is the fact that it can be truly international since cryptocurrencies know no borders. Another one is the fact that independent developers can use it to create their own solutions on top of Scorum.
As for fantasy sports part of the project, it has yet to gain any notable adoption. However, since transaction fees on Scorum are non-existent, many expect that this aspect of the website will grow as well in time.
Finally, there is a stats center, and this aspect is also in its early stages. Te plan is to help it grow beyond simply displaying typical sports stats, and to use different analytics tools to create interesting interactive visuals.
3. Ravencoin (RVN)
Ravencoin (RVN) is the largest coin on this list when it comes to market cap. However, it is still not as large a crypto as it can get. One interesting thing about this coin is that it managed to avoid usual pitfalls that most other projects rush into. It never held an ICO, and it was not pre-mined, which are only two examples of the things that this coin did differently.
On top of that, It has no CEO, which means that all of the “power” is shared among the developers themselves.
The Ravencoin project is designed to allow users to issue and transfer different assets on a secure, decentralized blockchain. Apart from that, it also provides a safe and secure messaging channel that can be used for communication. Decentralization is maintained by allowing users to vote on important decisions and issues, and users receive dividends as payment. In addition, it is resistant to ASIC, and it is much more energetic than Bitcoin.
The future of cryptocurrencies definitely seems brighter than ever, despite the fact that the adoption progresses slowly. Things like regulations and understanding this technology in the first place are of great importance. While a lot of countries understand this, there are still many of them that believe that cryptos are just a current trend, a bubble that can pop at any time.
This is why their progress is slow, but this also gives them time to develop, evolve, and reach the mainstream as a firmly-established technology, once their time finally comes.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
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