Did you know that Bitcoins and Ethereum now belong to the old generation of cryptocurrencies? The truth is those crypto assets that came about in the past decade are grouped under one generation and the world is now ready for another new generation of crypto coins and tokens. Most of the earlier ones have entered the mainstream successfully. With the crypto space evolving continuously, innovative players have come out with new approaches to stay ahead of their competitors and gain acceptance. They have adopted new strategies like backing up cryptos with tangible commodities/assets and launching decentralized ICO platforms.
New Generation of Cryptos To Look Out For:
- Sparkle Coin, Inc: A major factor which critics had indicated as a risk with previous crypto coins was that these were not backed by any tangible asset. This is why prices had been volatile and there were always risks of the crypto’s values deflating. In September 2017, Sparkle Coin, Inc, based in Chicago, came out with its new crypto that was backed by diamonds. Sparkle Coin represents a hybrid that is being quickly adopted through mining of this coin and enjoys long-term sustainability via minting. Every Sparkle Coin has been backed by $5 worth of diamonds that are GIA-certified and these may be redeemed in $500 increments after the Sparkle ICO. Everyone knows that diamond is a secure investment because its value escalates over time far more than assets like gold.
- Bilur: Bilur has been adding to its value by storing physical energy as it links its price to energy commodities. The reason why this new generation crypto coin selected energy commodities for backing it was because these will be needed by humans always. For the Bilur to be issued, energy commodities like oil must be bought first. This also provides a good opportunity for non-professionals to turn into active investors in the market of energy commodities.
- Komodo: This coin is another innovative player that targets needs of many for a decentralized ICO platform. It allows coin developers to come up with a transparent coin without compromising on its built-in privacy features. It has made it possible to create and distribute native cryptos in the absence of a third party. So, it is possible for anyone to start an ICO using this platform.
- Nxt: This is a second-generation scalable crypto coin with features beyond that of regular altcoins. It provides an innovative method of environment-friendly mining. This coin is distinct from Peercoin or Litecoin which had their codes based upon Bitcoin codes; Nxt’s code is built from scratch. It makes use of a 100% PoS or Proof of Stake system as against the PoW or Proof of Work system. This can effectively eliminate security risks that are inherent in other coins. It maintains a “green” protocol in terms of power consumption because 100% PoS systems do not need colossal volumes of hash power that altcoins and Bitcoins do. It introduces a new feature, Transparent Forging, that lets Nxt approach MasterCard or Visa rates on transactions. It is not possible for any other crypto coin to scale this high. It is only possible with this as the transparency guaranteed through its protocol allows every user to determine the node that will produce the next block. This ensures additional fees get realized for priority or instant transactions. So, all transactions are secure, fast, and anonymous. Since there is no mining on Nxt network, it is energy efficient.