Continued from the PART A of the discussion
Siacoin is currently in the top 40 of all coins at the market capitalization of just over $ 200 million.
There are approximately 28 billion Siacoins in circulation and it will soon reach the ceiling of more than 40 billion.
It is valuable because it is one of the few cryptos with a real product. It offers decentralized storage space, which must be fully secured against hackers, compared to traditional cloud services. It will probably compete with the cloud storage offered by Amazon S3, Microsoft Dropbox and Google Drive at a lower price. The price is determined by the market forces (you and me).
Imagine that you pay a lot less for cloud storage. That is what Siacoin wants.
In principle, you must have at least 2,000 Siacoins to use the service and you can also rent storage space for others for a fee. Because the storage and quantity of parts on the market are limited, I predict that the value must increase further.
However, he has the competition, in the form of coin MaidSafe and coin Storj. It is interesting to see which will end at the end.
5. OmiseGo (OMG)
OmiseGo (OMG) is based in Thailand and essentially offers payment functionality similar to Stripe in Southeast Asia. Based on the Ethereum network, it offers real-time exchange and payment services in all jurisdictions. It allows the exchange of fiat currency and cryptocurrency.
OMG token owners earn money through transaction costs. As a result, the more transactions on Omise Go, the more holders of money chips. As a result, the price of OMG will rise.
Their point of sale is, of course, their financial transactions, ie transfers of funds, loyalty programs, payments, business-to-business, and so on. More importantly, they are made in a cheap way. Moreover, their team seems pretty competent.
Iota seems to be the only dominant cryptocurrency that is not based on blockchain technology. It is a revolutionary new layer of transactional processing and data transfer for the internet of things. It is based on another distributed registry called Tangle, and it must overcome blockchain inefficiencies.
It has zero-charge transactions (theoretically), no minors and an unlimited transaction rate. This means that scalability is not a problem at all. It also makes small nanopayments possible. Moreover, it is not forks, which means that you can not split a coin like Bitcoin.
Ethereum is considered the best bitcoin alternative and this is reflected in the price. It is trading at $ 380 at the time of writing.
The reason why Ethereum is amazing is that it has introduced an Ethereum network, in which other parts can be based. It made programming on blockchain so much easier, that is why many popular pieces are based on Ethereum. Watch OmiseGo and Golem.
Another reason is the introduction of smart contracts by Ethereum. Bitcoin also has a very simple smart contract, that is, sending and receiving coins. But that’s about it. Ethereum’s intelligent contract system is on a different level. It allows people to manage agreements between them and ensures that payment is made in the execution of the agreement.
It has much more flexibility than Bitcoin and I predict that it will be the next big step. It is already very popular, but it can catch Bitcoin one day.
So which cryptocurrency should you invest?
To be honest, nobody knows for sure. It is always a high risk when you invest in cryptocurrency because it is extremely volatile. Your $ 50 coin may be worth $ 0.50 the next day. Therefore, do your own research, make your own decision and do not invest more than you can. Do not put your livelihoods on the line.
This is just my own speculation,should not be regarded as investment advice.