A look at the target
Although most of the cryptocurrencies on the market are decentralized, such as bitcoin, ether, and LTC, these P2P finance platforms are also a public brand.
They also have marketing objectives in a very similar way to private companies. The only difference that in the case of these projects belonging to decentralized finance, they are run by non-profit corporate foundations, or at least, in theory.
We will analyze each of the targets of the seven most popular and influential cryptocurrencies of the crypto-cosmo.
According to coinmarketcap, there are 7420 cryptocurrencies. In this article, we will choose the most representative of their respective segments.
At the end of this article, you will be able to choose the cryptocurrency that best suits your needs, market strategies, and even your personality.
Here is the countdown of the most representative according to their segment, until reaching the most popular and influential in the crypto-cosmo:
A decentralized financial tool that empowers the common citizen of the world
Dash is much more than a platform, and a cryptocurrency focused on anonymity through its PrivateSend service.
Dash has become a culture where a technological and human infrastructure congregates. All these thanks to its Decentralized Self-Sustainable Governance System by Blockchain (DGBB).
A system that has given Dash an extraordinary peculiarity, and through this, numerous projects have been financed in communities in various developing countries.
DASH- a financial solution for developing countries gives you a full insight into how Dash is developing nations worldwide.
In contrast to the stress of owning a fiat bank account, through Dash, these citizens can create a decentralized digital bank account in seconds.
Through Dash, citizens can also:
- Make micro-payment operations more private and faster than in Bitcoin, Ethereum, and Litecoin.
- They can use Dash as an alternative national and international payment network, ideal for entrepreneurs.
- They can send entrepreneurship and positive social impact projects to the Dash treasury for election and funding.
All these aspects lead us to conclude that Dash’s target is the ordinary citizen of the world. Especially those who have fewer economic resources and who can find in this cryptocurrency not only excellent scalability. It is also a multifunctional financial tool that empowers them and allows them to face both economic, financial, social distortions, and injustices in their countries of origin.
A sample of what has been said above can be confirmed with the Dash mission:
“Offer an anonymous cryptocurrency, with low commissions, fast, portable, socially expandable, and self-financing.”
The payment system of our future on the Internet of Things (IoT) environment
In the present case, we are talking about a platform and cryptocurrency MIOTA, which has put together an entire infrastructure to carry out micro-payments type transactions, with excellent scalability and economy.
n this case, we are talking about a platform and cryptocurrency MIOTA, which has put together an entire infrastructure to carry out micro-payments type transactions, with excellent scalability and economy.
We are not only talking about Man-Man, Machine-Man transactions, but above all, Machine-Machine transactions.
For example, your vehicle today and in the future will need to complete transactions for state taxes, parking, maintenance, among others. And these transactions can be done in an automated and instantaneous way (4 seconds), without transaction fees (incredible), and the vehicle owner’s intervention. This phenomenon is called the Internet of Things IoT, which is already a reality today.
What does blockchain have to do with the Internet of Things IoT? Learn everything about IoT and blockchain in our Blockchain Application Series- Internet of Things.
Just as it will happen with your vehicle, the same will happen with your appliances, among other private and public services.
This is what the decentralized financial system of IOTA is betting on. All through a block technology that seems to come from the future called the Tangle.
The aforementioned makes it clear that IOTA’s Target is Things, artifacts, objects, and gadgets that increasingly seem to have a life of their own. However, in the meantime, the IOTA project is aimed at people and companies who want their technological objects to be increasingly intelligent and carry out their transactions.
An example of this can be found in the collaboration between IOTa and Volkswagen company.
A solidarity global Exchange in real-time
The Stellar platform is basically proposing a solution to cross-border payments from any type of currency to another, it even includes the main fiat currencies of the world.
The Stellar platform is basically proposing a solution to cross-border payments from any type of currency to another. It even includes the main fiat currencies of the world.
All this is done by Stellar using its XLM cryptocurrency as a vehicle currency in just 4 seconds, no matter the currency or the location.
We are talking about one of the best scalability in the crypto-cosmo. Transactions take barely 4 seconds, and that with Stellar, you can make up to 1000 transactions per second.
But the benefits do not end here, as Stellar also stands out as one of the cheapest cryptocurrencies in the crypto-cosmo, with a transaction cost of just 0.00001 XML, which is equivalent to 0.0000009 USD.
Stellar has an incredibly low commission if we compare it with that of Bitcoin in fee on most exchanges between 4 and 6 USD.
This low commission is coupled with Stellar’s mission and vision, aimed at the humblest citizen with fewer economic resources.
Among the benefits of Stellar to its user’s highlights:
- The banking of people excluded from the fiat banking system.
- Affordable transaction fees for people with fewer resources.
- One of the best scalabilities in the crypto-cosmo.
- Inclusion of private companies in its solidarity philosophy, unlike Ripple.
In short, Stellar’s target is humblest and with less money in the world. But at the same time, it also needs private companies, especially those in the finance industry, so that all these real-time conversions are possible.
Stellar’s mission and main objective thus make it clear:
“To solve the common problems that today prevent many people from accessing the banking world.”
“Connecting people to low-cost financial services to fight poverty and maximize individual potentials.”
An ideal cryptocurrency for crypto-anarchists
For the Monero blockchain platform and its XMR cryptocurrency, anonymity is not an option but an absolute condition.
Of all the cryptocurrencies focused on confidentiality, Monero is the only one that guarantees absolute privacy, thanks to various security mechanisms. These security technologies include ring CT, stealth addresses, ring signatures, Transactions on Tor / I2P, Dandelion ++.
This has made this platform and cryptocurrency the favorite for the so-called “crypto-anarchists.” This is because the public keys of wallets and transactions are truly safe from both private and governmental control and regulation.
Douglas Tuman, the host of the official Monero show, which is titled “Monero Talk,” regarding what the objective of his Podcast program is, points out:
“Discovering and supporting the blockchain that is most aligned with the original ideals of cypherpunk and crypto-anarchists from which the cryptocurrency (Monero) was born“.
The commercial targets of Monero are crypto-anarchists and all those groups that legitimately or illegitimately (unfortunately) seek to keep their finances 100% anonymous.
In case there are still doubts, the official Monero portal explains its objective:
“Monero takes privacy seriously. Monero needs to be able to protect users in a court of law and, in extreme cases, from the death penalty. This level of privacy must be fully accessible to all users, whether they are technologically competent or have no idea how Monero works“.
A stability solution against crypto-volatility
When stablecoins did not exist, cryptocurrency traders had to stabilize their profits by transferring their cryptocurrencies to the Fiat currency. A process that is often time-consuming and expensive.
When stablecoins did not exist, cryptocurrency traders had to stabilize their profits by transferring their assets to the Fiat currency. A process that is often time-consuming and expensive.
But with the arrival of the so-called “stablecoins” like Tether, this is not necessary. Stablecoins are cryptocurrencies that are anchored to the value of the world’s main fiat currencies like the American dollars. This means that stablecoins maintain a constant value with the fiat value it represents.
This powerful characteristic makes stablecoins like Tether to become an excellent tool for traders who make life in the crypto space.
How can Tether become a trading strategy? If you are interested, click here- Tether- A Card Up Your Sleeve
So what is Tether’s target?
Although Tether also brings multiple benefits for both companies belonging to the crypto-market, such as the case of Exchanges, the cryptocurrency merchants benefit more from the use of Tether as a financial tool.
This is because when they obtain their profits, they no longer have to convert their cryptocurrencies to fiat currency but can now save their capital in cryptocurrencies called stablecoins without having to leave the blockchain environment, which stands out for being faster, more secure, and economical.
Other groups that benefit from this Tether are the savers and workers of the crypto sector, who prefer to keep their capital within the blockchain’s security, also far from the volatilities of the decentralized finance sector.
The official Tether portal itself explains this phenomenon:
“A Tether is equivalent to an underlying unit of the currency that backs it, for example, the US dollar, and is 100% backed by real assets in the reserve account of the Tether platform. By being anchored or tied to the currency of the real world, Tether provides protection against the volatility of cryptocurrencies.”
“By leveraging Blockchain technology, Tether enables you to store, send and receive digital tokens from person to person, globally, instantly and securely for a fraction of the cost of alternatives“.
The Dapps Matrix
Ethereum is a multifunctional decentralized financial platform that is basically transforming the world. Ethereum has opened the door to the world of applications decentralized (DApps), which has been possible thanks to incorporating smart contracts into the world of technology.
Read everything you need to know about Smart Contracts- A Milestone Innovation from Ethereum.
In this blockchain platform, developers can create their decentralized projects from scratch, no matter the use case.
As if that were not enough, Ethereum is also a P2P person-to-person payment system, an action that is carried out through its cryptocurrency ETH in a decentralized way. That is, without the intervention of third parties, be they private or governmental.
It should be noted that we are talking about the second most influential cryptocurrency in the world(after Bitcoin). So it also works perfectly as a valuation asset for trading professionals, even if it is of unlimited production.
Consequently, being a multifunctional platform, Ethereum has several Targets:
Ethereum seeks to expand its infrastructure and global community. For this, the development of projects with all kinds of use cases is crucial, precisely what the developers are in charge of. This is a win-win situation both for Ethereum as Dapp’s entrepreneurs.
In fact, Ethereum highlights it on its official portal:
They are also invited to join the great network of Dapps and smart contracts, since there is practically no business area that is not benefited or can be applied in Ethereum. A fact that would undoubtedly also help Ethereum’s global financial network grow.
Citizens and cryptocurrency traders:
Unbanked citizens of the world, or those who want to improve their fiat bank’s scalability to a decentralized one, will find in Ethereum an ideal solution thanks to the benefits of blockchain technology. Among these are speed, security, low commissions, and universality. Likewise, cryptocurrency traders will be able to profit thanks to the second most important crypto-asset in the world.
The digital gold of our time
Bitcoin is the main decentralized person-to-person payment system that was created in the history of humanity. After this, thousands of other crypto projects were inspired that today are called “altcoins.”
As the parent and most credible cryptocurrency, they have made it an attractive long-term valuation asset. Many regard Bitcoin as the only true decentralized cryptocurrency that sticks to the philosophy of its creator, Satoshi Nakamoto.
Bitcoin is considered the gold of our time because its monetary unit, BTC, has experienced an asset’s highest growth in the last decade.
Learn about the Bitcoin Revolution- How it Will Shape Our Future to understand why it is the most important crypto asset.
Proof of this is that the Bank of America recently named Bitcoin as the decade’s best value asset.
According to the Bank of America, Bitcoin would be the most profitable cryptocurrency of all time since, for its first adopters, it would mean a return on investment of up to 1.3 million USD.
So even though Bitcoin was born with a philosophy of decentralized financial payment solution among the libertarian citizens of the world, Bitcoin has become the best valuation asset of the second decade of the 21st century, the so-called- digital gold.
A deduction that only leads us to one conclusion on the target of the mother cryptocurrency. Bitcoin targets are small, medium, and large investors who seek to obtain profits in the short, medium, but above all in the long term.
The cryptocurrencies mentioned above are a small sample of the great universe of cryptocurrencies in the crypto-cosmo.
We chose them because each one of them represents the best in its segment. However, if you haven’t found your ideal cryptocurrency just yet, don’t be discouraged as there are 7,420 options you can explore and find your dream cryptocurrency.
Augur gambling and predictions, TRON entertainment, Chainlink interoperability, and so on almost to infinity. The important thing is that the one you choose is safe and tailored to your needs, trading strategies, and personality.