Numerous cryptocurrencies and tokens appear every day. Some of them are of a practical nature, which means they perform some sort of function. Others, on the contrary, have a purely entertainment purpose and may be in demand only due to the strong buzz around the project. RevenueBot has highlighted a few coins to watch out for.
Bitcoin Cash (BCH)
BCH is an altcoin version of the well-known Bitcoin. It was obtained by a hard fork of the original blockchain. As part of the standard protocol, Bitcoin Cash itself replicates the original Bitcoin in almost all aspects, namely the PoW under the SHA-256 hash algorithm, the total number and size of coin minting totaling 21 million tokens, as well as block time and an identical reward system.
The background of the Bitcoin Cash begins when strong conflicts began to arise in the Bitcoin community due to the outdating of the BTC and the emergence of much more technologically advanced cryptocurrencies amidst this backdrop. You can see that the main reason is the outdated Bitcoin code. To continue its evolution, a fundamental upgrade was required.
Therefore, a block size of 1 MB is clearly not enough for the proper functioning of the entire network. Bitcoin transactions are still found to be extremely slow, with fees increasing instead.
Moreover, it would last for a long time, but still experts began to take bold steps to improve, so as not to hit the image of Bitcoin too badly.
As a result, the community split in two. One stood for preserving the original Bitcoin with subsequent smooth innovations in the system, while others pushed for drastic and rigorous changes, such as a hardfork. Consequently, a new crypto was born with a block size of 8 MB.
RVN is a coin that is a result of the Bitcoin hardfork that has been optimized for P2P asset transfers, user prioritization, privacy protection, and censorship resistance.
Ravencoin is based solely on Bitcoin code, apart from the newly developed PoW algorithm known as X16R to avoid creating ASIC mining devices.
RVN transaction processing speed is 10 times as fast compared to Bitcoin. Its source code is available so anyone can contribute to the enhancement of the cryptocurrency. To communicate, an impressive messenger is integrated into the ecosystem. All conversations and financial transactions between users are strictly confidential.
RVN was introduced back in October 2017 (on Bitcoin’s 9th anniversary) and as launched with almost no promotional campaign in January 2018. Within a relatively short period of time and without much marketing, the coin came into play on two DEXs as well as on the coin market.
Ethereum is a blockchain project ranked second by market cap and popularity behind Bitcoin. Its particular feature is that here blockchain technology is used for more than just instant P2P-payments without intermediaries. Smart contracts established a suitable environment for dApp developers.
Ethereum is a far-reaching, programmable, open-source blockchain project whose functionality extends beyond payment transactions. Like Bitcoin, it allows for P2P transactions without intermediaries like banks and other financial institutions.
The developer is Vitalik Buterin. He is a programmer from Canada, who once lived in Russia for several years. What’s more, he found himself interested in crypto back in 2011. This is when Vitaly took the prospects of bitcoin development quite seriously, which is why he created Bitcoin Magazine on his own. It was the first-ever major publication on the topic of cryptocurrencies to be published in Canada.
When investing in new coins, you keep an open mind on all the risks, because the chances of a coin remaining at the same price brackets or depreciating are sky-high.
This material is not a piece of financial advice and is for informational purposes only.
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