Here are 4 smaller altcoins that could be creating new markets and long-term growth by building on or extending current technology.
Entry points are key though you don’t want to be stuck in these things at all-time highs. So stick around to the end to hear my thoughts on investing in smaller altcoins. And how I try to implement a longer-term strategy.
Coin 1 ( Dent )
Dent wants to be a decentralized globalized exchange for mobile data using the dent net blockchain where people can buy and sell data using the dent crypto.
Dent networks with e-sims in your iPhone and most modern androids. Dent e-sims are now usable in 60 countries worldwide. So if you have an ECM, you can trade data for all the supported countries.
E-sims have been around for quite a while by now, so it’s not really groundbreaking. What sets them apart, though, is really its planned marketplace where you can trade tokenized mobile data using dent tokens.
This means you can instantly buy mobile data anywhere you are in the world. But also, let’s say you travel and buy five gigs of data and only use three.
Usually, with a local sim card or even buying data on an e-sim app, the data you didn’t use would just be lost.
But thanks to blockchain technology, you can actually trade the tokenized data on the dent app and potentially get something back for the data you didn’t use.
This is exactly what makes blockchain technology so powerful. It gives two unrelated people the ability to trade and swap using the blockchain with only a protocol in the middle.
Then urn is another interesting feature where you can earn a Dent by logging into the app every day, playing games inviting friends, and answering surveys.
Next on the Dent roadmap is the launch of the dent mainnet. Marketplace and the better for dent staking. These are all expected to roll out in the first half of next year.
I noticed for right now anyway on a dent that data prices are not low compared to some other normal e-sim providers.
This can change, though, so you can check out the rates fire. Also, I’m not a massive fan of having to trade dent tokens.
Like most other small altcoins, Dent is too volatile to be used as a payment currency. İ don’t want to put 20 bucks of Dent on there to buy data and wake up two days later to 5.80 usd.
Hopefully, they add stablecoin support or an instant swap when you trade or buy data in the future.
Coin 2 ( Stacks )
Stacks are trying to go where no man has gone before boldly. And implement truly rich smart contracts on bitcoin. Stacks is a side chain that uses the first consensus algorithm between two different blockchains, which they call proof of transfer or pox.
Instead of using their own proof of work algorithm, PoX reuses Bitcoin as proof of computation, and miners directly represent their cost of mining in bitcoin.
Basically, this means that Stacks are kind of like a side chain that groups up transactions and actually sends them to the bitcoin network to settle them. And then miners, as they’re called on stacks, charge a fee for doing so in bitcoin.
Stacks processes thousands of transactions in a batch then settle them in a single block on the bitcoin chain. But blocks take 10 minutes to process on bitcoin, and this can’t be sped up.
So stacks 2.0 update includes micro blocks in the protocol layer. Micro blocks reward miners on the Stacks network to process and confirm transactions quickly so users can get that fast confirmation whilst having the security eventually of their transactions being sent to bitcoin to settle.
Micro blocks could be a big value adder. However, smart contracts with a 10 minute block time wouldn’t really be that useful. I don’t want to wait 10 minutes to swap a token as the price will move in that time.
So micro blocks with potentially near instant or very fast transactions could be a very good feature for stacks.
Stx is the token of stacks its main use is to fuel the clarity of smart contracts on the protocol. İt can also be stacked or locked up in the consensus algorithm to earn bitcoin rewards with an average apr at the moment of 11.2 percent. Read More…
Categories: CARDANO ECOSYSTEM, CRYPTO 101 GUIDE
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