What Is The Next Bitcoin?

What Is The Next Bitcoin?

what-is-the-next-bitcoin

If you missed out on Bitcoin initially, you’re probably wondering, “What’s the next Bitcoin?” You’re not the only one. Considering the astonishing growth of the cryptocurrency, investors want to get in on the ground floor of the next Bitcoin too.

Unfortunately, without a crystal ball, there’s no definite way to tell. We can look for signs that a currency could become the next Bitcoin, however.

To further dampen your enthusiasm, the answer to, “What is the next Bitcoin?” might be, “Nothing.” While another currency could eclipse Bitcoin’s popularity, Bitcoin will always be the first. As a result, there’s a great deal of nostalgia at play here as well.

Also, Bitcoins were worth nothing when they first came out. No one wanted them because they had limited usefulness. Nowadays, cryptos are more common and popular with investors. New, promising coins get snapped up fast. So, the chance of getting in at rock bottom becomes slimmer.

The Most Promising Prospects

We can’t say for sure that any crypto will outperform currencies like Bitcoin and Ethereum. What we can do, though, is to look at companies with exciting prospects. The following are companies that could do very well in 2020.

When compiling this list, we looked at:

  • How strong the value proposition was
  • Whether the development team and plan was sound
  • The price

Before you invest, though, we recommend that you conduct your research. The crypto market is extremely volatile, so there are no guarantees.

Komodo

This project began in 2014. The crypto launched in 2016. It has a compelling value proposition that could rival Ethereum in time.

The focus here is on creating new blockchain-based applications. The company offers developers a simple way to build their applications. They have a range of modules and feature an open API. It has its tokens. The network and the authorization process secure these.

It’s at the leading edge of use-case developments in this space. Komodo provides an adaptable framework. Their Smart Chain system makes it easy to adapt the software.

NKN

This is a newer player on the market. They launched the currency in 2018. The company is working on improving network connectivity and security. Users on the network can rent out unused bandwidth from others.

Renting reduces the wastage of bandwidth overall. The company believes that decentralizing the Internet will make it easier and cheaper to access globally.

We’re not the only ones who believe that the NKN project is promising. The company raised $12 million during the initial coin offering stage.

The company has developed a proof of relay model to eliminate the redundancies that we see with proof of work systems and improve efficiency. Steve Wolfram and Whitfield Diffie are two hard-hitters on the team.

And, despite the relative newness of the company, it’s now achieved a more extensive network of full nodes than Bitcoin has.

V-ID

This is an idea that came about in 2017. It’s different because it’s a subsidiary of WIDIDI. Another promising feature is that the company developed a working model before funding started. This project focuses on validating data more efficiently.

The aim is to create an efficient system to verify and validate documents. Fraud is one of the reasons that we haven’t yet moved to a paperless society. V-ID could change that.

It’s already showing signs of success. Revenues are building month after month. Get used to the name. It won’t be long before V-ID makes real waves globally.

Fantom

Fantom launched in 2018, so its another new option. It’s taken on smart contracts. Smart contracts are not new – Ethereum’s had them for a while now. Up until now, though, scalability issues have prevented us from seeing the full potential of smart contracts. Fantom aims to change that.

Assessing Any New Projects

How do you pick out a winner for yourself? With careful research. It’s essential not to get caught up in all the hype. Rather:

  • Research the developers: Are they legitimate people with the right qualifications? Check their LinkedIn pages – is there any mention of the work there? Do they have the skills necessary to make the project into a viable business?
  • Research the idea: Ground-breaking ideas are few and far between. Look at the concept behind the currency seriously. Does it make sense? Will anyone want to use the product? Is there a need for it? What problems does it solve? How are those problems overcome now?
  • Consider investing in established companies: Yes, the idea of getting in at the ground floor is appealing. Waiting can mean missing out on rock-bottom prices. It also allows you some time to monitor the company’s track record and see if they’re able to bring it to fruition.

Final Notes

If you’ve been researching cryptocurrencies, you’ll know that it’s hard to pick a winner. An idea may be great on paper but impractical in the real world. By carefully researching companies before investing in them, you stand a much better chance of picking a winner.