Which Cryptocurrency Will TOP All Others?
I do not believe a single cryptocurrency will take over entirely. There will be many, all using the blockchain technology for a variety of purposes, but each taking some power from the current banking/fiat system. Some will act as a store of value, some will act as cash, some will supply a use in other ways like STEEM does for the media I now type this into, and #Ripple a specialized crypto that has developed its own market simultaneous to the rise of Bitcoin.
(image source https://coinmarketcap.com/all/views/all/)
In my opinion, the following 3 are now leading the revolution, in their own way. Each having something that it is the best at, not easily copied by the other two if at all, and having the potential for mass global use.
Currently #Bitcoin is like investing in physical gold and has the most broad-based support and investment. Its blockchain has already gone through years of development and upgrades. Another of which is about to take place in the near future. With the proposed increase in block size and the introduction of SegWit, it will move ahead in development even further. It also has countless merchants and third party companies using it on a daily basis. For another crypto to make headway, they will have to prove to those already adapted to Bitcoin that theirs is not just equal, but far superior in some way. Also we should never forget that Bitcoin developers understand this technology as well as anyone, and nothing can stop them from adopting a brilliant adaptation from an alt-coin if said improvement proves useful, and is compatible with the Bitcoin design structure. Lets be serious. Did the first country that adopted paper notes over physical gold hold an advantage for long, or did every country in the world start developing their own paper?
#Ethereum in my opinion is like investing in oil, and has the potential to 'power' many future automated technologies/smart contracts, but it is not a proven robust network yet. It will have similar growing pains to Bitcoin as more people and developers pile on, some of which won't be recognized until it is heavily used. The excitement and interest in this type of blockchain can not be ignored however, and it will one day play a role in almost everything, just like... oil. Sure we used it to light lamps and power engines,but when first discovered, did we foresee plastic and medicine? The only drawback I see so far for ETH is that the developers have already proven they are NOT unwilling to 'roll-back' transactions and re-write the blockchain, hence we still have Ethereum Classic, the unmolested original blockchain. Make no mistake, this is still a contentious issue for many, as the blockchain was once thought to be unalterable once written. Technically speaking it still is, but there is nothing to stop a future spilt in Ethereum or any crypto for that matter.
#DASH is like cash, with its private and instant sending features, and may be the only one of these three that will become money. With its limited coin supply, and master nodes staking 1000DASH each, its potential as a store of value is well underway. Frictionless travel and fungibility is as good as any top tier crypto. DASH is Bitcoin 2.0, and based on the Bitcoin code. It has already been around for a few years, expanding quietly, with payed full-time developers and a governance system to plan its expansion. DASH has a development fund ~$1.2M/month vs Litecoin ~$11K for instance(link1). DASH also has a wallet called Evolution about to be released that will simplify the use of cryptocurrency for the technically illiterate.
All the other contenders will be copies of these primary three in my opinion, and will have to fix either a serious fault or add a new feature that can't be incorporated into them with future upgrades to the software. For example, take the real life hardware being invested in and developed to make it easy to obtain and use the above 3 cryptos in 9000 kiosks, see (link2) below. What is missing... the other 900+ cryptocurrencies. Why would companies like those posted in the link select BTC, ETH and DASH? I believe its because they are different from each other in their own way, and far ahead of all the other alts in potential.
Link1: https://medium.com/@EricRSammons/the-dao-nobody-knows-now-distributing-1-2-million-per-month-b8af9a5586da
Link2: https://www.dash.org/forum/threads/get-your-dash-at-9000-kiosks-in-ukraine.15268/
Thank you for your support, please up-vote and re-steem. Always feel free to comment as you see fit!
Sia Tech ! #Siacoin They aren't like your top three, and have great potential!
Agreed! A de-centralized cloud service is much needed. I am not sure about having to pay for the service when iCloud and others offer storage for free. #Maidsafe is another similar to Sia, and plans to have website hosting as well.
UPVOTED! Thanks for your perspective.
That's free to individuals but not free to enterprises.
I agree with your core concept that there will be many crypto currencies that will grow and become prominent. I am not so sure Dash however to me it seems somewhat hyped. Currencies that I believe will grow due to good scalability are LTC, NEM, Ardor, Viacoin and VeriCoin. Upvoted your post!