London, UK, 3rd August 2021, ZEXPRWIRE – All the rage 2019, the cryptocurrency market witnessed a complete transformation after the crypto winter that characterized its beginnings. By the end of 2019, many experts had predicted that Bitcoin would plummet to a new low and the bear present in 2018 was going to continue.
When it comes to blockchain technology, there has been some advancements since then as well. In 2019, we saw several cryptocurrencies such as EOS becoming more scalable with its introduction of DPoS (Delegated Proof of stickiness).
Furthermore, the broker Alex Jameson from TrueNorthBit, says that other cryptocurrencies such as Litecoin were slower at adopting innovations like the Lightning Network. Although these cryptocurrencies do not have very strong use cases or a large user base at present, they can be regarded as strong investments for 2021 because there is ample room and potential for growth in the future.
Despite this change, Bitcoin continues to be in trend and is opening doors for the rest of cryptos.
It was expected that the arrival of Bitcoin futures trading on CME [Chicago Mercantile Exchange] and Cboe [Chicago Board Options Exchange] would pave the way towards increasing adoption of cryptos.
However, as it stands these exchanges did not even manage to reach the minimum volume necessary for their Bitcoin futures trading which only managed a daily volume of $15 million and this is great news for the rest of Altcoins.
The CME and Cboe scandals led to a new strategy for cryptocurrency exchanges that will be friendlier towards the adoption of Altcoins.
Exchanges are now adopting what is known as “USD-stable” cryptocurrencies. These cryptos maintain a close peg to the valuation of USD. This means that their prices should not experience any wild fluctuations due to factors such as the ones that caused the downfall of cryptos in 2018.
The rise, fall, and recovery of cryptocurrencies have left a lot to be desired for cryptocurrency enthusiasts and this is where things are going to change by the year 2021. Here is what you should watch out for:
1) Zilliqa (ZIL)
2) IOSToken (IOST)
3) Wanchain (WAN)
4) Ontology (ONT)
ZIL is the native token behind Zilliqa, an enterprise-ready blockchain network that can also scale to thousands of transactions per second.
ZIL has been adopted by a number of enterprises such as Infinito Wallet and Ink Protocol. These partnerships have all led to the adoption of ZIL in real-world use cases. A partnership with the Kyber Network (a decentralized cryptocurrency exchange) is also in progress and will be launched soon.
Zilliqa plans to penetrate more industries such as healthcare, online gaming, virtual goods trades, lending platforms, and charity donations by 2021.
This cryptocurrency was also backed by its developer team that is led by Xinshu Dong – the CEO of Zilliqa.
The cryptocurrency behind IOST is used to fuel the IOS platform. This blockchain has been built from scratch for scalability and transaction speed. Unlike other cryptocurrencies, this network will require each node operator to stake a token as collateral before it can be part of its consensus mechanism.
The IOSToken [commonly called IOST] is improving on flaws in current blockchain structures by creating a network that offers a high throughput and its own virtual machine where smart contracts are executed. IOST uses a Proof-of-Believability (PoB) consensus algorithm to achieve this.
This PoB is an improved version of the Proof-of-Stake (PoS) consensus protocol. This consensus mechanism will ensure faster throughput making it more likely for developers to build Dapps on top of IOST.
In fact, the network has already announced partnerships with firms such as Energo Labs, LoyalCoin, and 4X Protocol.
The Wanchain blockchain project started in 2016 after raising $34 million from its ICO. The platform is used for building decentralized financial applications that are compatible with almost any digital currency. In fact, the WAN token can be used cross-chain if the situation calls for it.
A few enterprises have already adopted this cryptocurrency with one of them being UnlimitedIP Inc – a Chinese firm that is planning on using the platform to enable e-commerce payments through smart contracts.
Ontology comes as a decentralized platform with a series of applications that will help to gather together various distributed ledger technologies [DLT] or blockchains.
Ontology’s infrastructure is made up of protocols, modules, and application interfaces which are used to create decentralized solutions for businesses. The project has two native tokens: ONG and ONT which are used as the platform network token. ONT is used for governance, to provide incentives, and pay developers. It also helps in the purchase of other application tokens on Ontology’s network.
Ontology has already been adopted by a number of enterprises such as CarBlock , Contentos , LinkEye , NEX , and Tron .
These can be considered the best non-Bitcoin cryptocurrency projects to watch out for in the year 2021.
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.