Sure you’ve heard about Bitcoin and Ethereum but those aren’t the only cryptocurrencies that are disrupting the the world. Here are some really cool cryptocurrencies built on blockchain technology that we think are simply revolutionary. Some of these technologies are built on Bitcoin’s original blockchain with a lot of improvement on the features. If you’re new to crypto, these are called altcoins.
IOTA is a cryptocurrency that’s built to provide secure communication between Internet of Things machines. IOTA transactions are free, confirmation times are super fast and its blockchain can handle many transactions simultaneously. The organisation behind IOTA has collaborated with Microsoft, Deutsche Telekom and other institutions to test and adopt the technology.
GRAM is being developed by Telegram – one of the world’s largest and most secure messaging services(with 180 million users). Telegram hopes to allow its users transact with one another securely through its platform called Telegram Open Network. It could also provide the token as an in-app currency for people to pay for products and services built on Telegram.
TRON is a cryptocurrency built by TRON foundation. Their major aim is to allow content creators receive compensation for creating content without a middleman like Google’s Play Store or Apple’s App Store. TRON was founded by Justin Sun – a Forbes 30 under 30 listee and protege of Alibaba’s founder, Jack Ma.
4. XRP – Ripple
Ripple thrives on what is called a “real-time gross settlement” which is basically a currency exchange network built by Ripple. Ripple uses XRP to facilitate inter-bank transactions, cross-border transactions and acts as a clearinghouse between financial organisations. Ripple has been adopted by banks like Santander and financial institutions like MoneyGram.
5. Stellar Lumens(XLM)
When Stellar launched, it was based on Ripple’s protocol. Stellar relies on servers around the world to distribute and maintain its cryptocurrency forming a global exchange network. Just like Ripple, Stellar hopes its token Lumens(XLM) would be used by financial institutions to reduce the cost and speed of transactions. It is currently being used by Oradian to connect Microfinance banks in Nigeria.
These cryptocurrencies have large ambitions as the blockchain technology can be applied in any field that requires a reduction in the cost of connection or transactions. We hope to see more adoption of blockchain tech in real life scenarios.