- Which major altcoins will persist at the top position in the long term?
- Major altcoins that will survive the test of time
As of February 2014, the altcoin market was just beginning to find its feet with less than 100 altcoins in the market. Back then the top 21 altcoins were entirely different from what we have now. The only altcoins which made the list then and persists now are Ripple (XRP) and Litecoin (LTC). What made these coins persists is the niche both have carved for themselves. They are both unique and useful for an economically beneficial need in the crypto sphere.
Ripple’s XRP has a distinctive distributed ledger system that aids the swift conversion of fiat currencies during cross-border payments. This prospect was observed at the early stage of Ripple’s XRP, and this prospect is fast coming into realization as dozens of banks and Money transfer giant MoneyGram have started using the Ripple’s XRP network.
Litecoin’s LTC is the first scrypt cryptocurrency that had a variation of proof of work (PoW) algorithm. Initially, LTC was employed by miners with GPUs who could no longer mine Bitcoin (BTC) successfully. Miners could use their computers and GPU farms to successfully mine Litecoin (LTC), leading to a large community of miners establishing around Litecoin (LTC).
Major Altcoins that will survive the test of time
Scrypt mining has persisted to this day, except now miners use ASICs to mine Scrypt. Though the perception is still the same and there continues to be a large community of miners surrounding Litecoin (LTC). Dogecoin is perhaps the only coin till now that has no unique technology and has been gradually declining the ranks over the years.
Stellar’s XLM can be likened to Ripple’s XRP. The coin is mostly usefully for its ability to carry out swift and zero-free transactions which can be used to convert fiat currencies across borders. However, Stellar’s XLM is less valuable than Ripple’s XRP. It lacks originality against Ripple’s XRP which brings to mind if the coin will survive long term.
Bitcoin (BTC) Price Today – BTC / USD
Ethereum (ETH) is the best platform for dApp and smart contract development, Ripple (XRP) is the leading cross-border payments crypto, Litecoin (LTC) is the top scrypt cryptocurrency, and EOS is the best-distributed proof of stake (dPoS) and decentralized governance cryptocurrency.
Monero (XMR) is the leading privacy coin, IOTA (MIOTA) is the top internet of things (IoT) and directed acyclic graph (DAG) crypto. Maker (MKR) is the leading decentralized finance (Defi) platform for lending and borrowing, and Dash (DASH) is the top masternode crypto. Going by Historical events, it appears that Ethereum (ETH), Ripple (XRP), EOS, Monero (XMR), Litecoin (LTC), Maker (MKR), Dash (DASH) and IOTA (MIOTA) have the biggest prospect of stating in the top 21 long terms.
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.