FinancialCentre Broker Reveals three cryptocurrencies that could potentially experience huge returns in 4 years
London, UK, 5th Feb 2022, ZEXPRWIRE, The cryptocurrency market is currently at $232 billion after experiencing a 44% increase in the last 24 hours. FinancialCentre broker, Vincent Renser, says with the introduction of new cryptocurrencies and ICOs almost daily, investors are faced with an overwhelming number of options to choose from. First-time investors may find it difficult to distinguish solid projects from scammy get-rich-quick schemes.
Three cryptocurrencies that could potentially experience huge returns in 4 years are discussed below.
- IOTA (MIOTA)
Market Cap: $$2,342,423,730
Exchanges: Bitfinex, Coinone, OKEX
IOTA is a cryptocurrency designed for the “Internet-of-Things” (IoT). This is a network of internet-connected smart devices such as self-driving cars and household appliances that can communicate without human interaction. IOTA’s goal is to provide a system for these smart devices to communicate and receive payments. It’s made up of infinitely scalable, block-lattice architecture, which enables it to handle an unlimited number of transactions simultaneously without charging any fees.
The network is decentralized, meaning that there are no miners or mining pools required to validate the transactions because every IOTA user acts as a miner. This takes out the risk of a 51% attack. The architecture also splits the data transmitted on the network into trinary pieces, rendering it secure from outside attacks.
To incentivize its users, IOTA has been built around “The Tangle”, an innovative type of Distributed Ledger Technology (DLT). The Tangle works on a web of trust concept; the network only gets faster as its user base grows because more users make transactions.
Unique features:
1) Involved in the development of self-driving cars and will play an integral role in their operation. This is one of the iota’s most strategic partnerships. They are currently working with Volkswagen to develop a new ” tangle ” system.
2) Has signed on board with some of the world’s biggest technology companies such as Microsoft, Fujitsu, and Deutsche Telecom.
3) It’s the only cryptocurrency that has suffered zero hacking incidents since it was founded in 2015. This makes it the most secure cryptocurrency in the market.
4) IOTA’s team comprises some of the biggest names in DLT, cryptography and cloud computing. They have experience with Nokia, Mercedes-Benz Research & Development North America Inc., Volkswagen, Skatbank Digital Ventures AB, Swisscom, Samsung Artik Cloud AG etc.
5) The IOTA Foundation is based in Germany, making it more transparent and trustworthy.
Potential Outlook:
IOTA can grow by over 2000% within four years because of its versatile functionality. It can be used as a micro-transaction token for developing economies with expensive financial transactions due to low banking penetration or poor infrastructure. IOTA is also considerably scalable, ideal for large transaction throughputs and high transaction volumes.
IoT devices require a micro-payment system that can scale to an almost unlimited number without charging any fees, and IOTA provides just that with its block-lattice architecture. The team has planned to introduce smart contracts and a decentralized exchange within the next few years, giving IOTA’s value an additional boost.
- Ethereum (ETH)
Market Cap: $321.76B
Exchanges: Bitfinex, ZB.com, Qryptos
Ethereum is a decentralized platform for applications and smart contracts that operate on the Ethereum blockchain. This allows developers to build and deploy DApps without downtime, fraud, control, or interference from a third party. It uses Ether as its token, which is used for transactions within the network.
In 2014, Ethereum was launched after a successful crowdfunding campaign during which it managed to gather around $18 million worth of Bitcoins. Since its launch, Ethereum has become the second largest blockchain network in market capitalization.
Ethereum is unique in its way because, unlike other cryptocurrencies like IOTA or Ripple, its value lies more in the technology behind it than in its use case. Its focus is decentralizing the internet using blockchain technology and creating a smart economy.
Ethereum’s unique features:
1) It supports Smart Contracts, allowing businesses to create transparent and secure transactions. This can eliminate the need for middlemen across industries like real estate, healthcare, insurance etc., with the help of Ethereum.
2) Has a widespread developer community that includes reputable names in tech companies like Microsoft and IBM.
3) Transaction confirmation time is fast because of Ethereum’s GHOST protocol. The block-time target of the network is set to 14 seconds, whereas Bitcoin has a block-time of around 10 minutes. This makes Ethereum better for daily transactions.
Potential Outlook:
Ethereum will be profitable for investors because it offers short-term and long-term trading opportunities. Its price will keep growing in the short run because of its innovative technology, which allows developers to build decentralized applications on top of it. In the long run, Ethereum has a great potential to grow well beyond $2,000 because that’s where the true value of decentralized internet lies.
- NEO (NEO)
Market Cap: $2.78B
Exchanges: Binance, Qryptos
NEO is China’s first-ever original and open-source public chain project. It aims to create a “smart economy” by incorporating digital assets, digital identities, and smart contracts in its blockchain ecosystem. NEO was founded in 2014 by Da Hongfei and Erik Zhang.
Neo uses a delegated Byzantine Fault Tolerance (dBFT) consensus mechanism to reach consensus on the blockchain, like Ripple’s consensus model. The founders of NEO believe that this mechanism eliminates the risk of 51% attack, ensuring its reliability as it has no risk of hard forks caused by differing opinions on the network.
Neo employs a unique mechanism of reducing transaction fees like how Zcash operates. Instead of being mined, NEO produces GAS tokens used for paying transactions fees on the platform. So, as more people use it to make transactions, the higher its value will be against fiat currencies like USD.
Neo’s unique features:
1) Supports multiple programming languages like C#, Java, Python etc. This is done to encourage the development of smart contracts on its platform. It currently supports the most widely used programming languages, commonly known as “the blockchain killer”, due to their ease of use and large developer community.
2) Specialized for Smart Contracts, allowing developers to use one commonly known programming language. This makes it very popular among the developer community.
3) It’s an open network which means anyone can develop applications on top of NEO. China recently announced its “Smart economy” roadmap, which the NEO platform in future will power. So, it has huge potential.
4) Faster transaction confirmation time than most blockchains, reducing transaction fees for smart contracts.
Potential Outlook:
NEO is one of the best cryptocurrencies to invest in because it has high growth potential. The problem with many other cryptocurrencies is that their value relies only on speculation, making them extremely volatile. This is not the case with NEO, which has a great potential to grow even if transaction fees are zero. The reason for this is that it’s faster and more reliable than most blockchains in existence, giving it huge potential. Businesses can easily adopt it because of its high reliability.
Disclaimer: Our content is intended to be used for informational purposes only. It is very important to do your own research before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on this article and wish to rely upon, whether for the purpose of making an investment decision or otherwise.
