For a cryptocurrency to have any value, it needs real-world uses. According to many experts in the market, if no one is using a coin, no transaction takes place and the coin becomes worthless. In this article, we will talk about four altcoin projects used in the real world. Although popular cryptos like SHIB, DOGE are not on the list, there are XRP (Ripple), Stellar Lumens (XLM), Monero (XMR) and Dash (DASH). Here are the details…
XRP and XLM are used in the real world, not SHIB
Ripple is the most well-known cryptocurrency with real-world traction. The company behind it, Ripple Labs, has partnered with several major financial institutions and banks to use the XRP token as a bridge currency for cross-border payments. Ripple CEO Brad Garlinghouse said he believes banks will use XRP for this purpose within five years. This real-world use case for XRP means that with more people adopting it for these transactions of data, the values of assets can expect continued growth.
On the other hand comes Stellar Lumens (XLM), a coin that is constantly being compared to XRP. XLM is the native asset of the Stellar network, a distributed ledger that uses cross-entity values. The network was created by Jed McCaleb and Joyce Kim in 2014 as an optimized solution for cross-border payments and messaging. By design, the Stellar network is completely decentralized and offers low fees, fast transaction times, and high throughput. cryptocoin.comAs we have also reported, large financial institutions such as IBM, Deloitte and Stripe have attracted use.
Monero, the giant in the privacy space, is also on the list.
Monero is the great guardian of privacy-focused cryptocurrencies. It has been around since 2014 and has gained a lot of momentum during its short life. Monero transactions are untraceable and allow even its users to track transactions anonymously. So you can’t see what people are doing with their Monero. This is ideal for your online purchases when you don’t want to worry about your purchase history.
Unfortunately, Monero is also used by people who want to buy illegal products online. Criminals are not afraid of being watched by the authorities after completing the proceedings. However, this does not mean that the purpose of XMR is not legitimate.
Last altcoin on the list: Dash
Dash is a cryptocurrency created to make digital transactions more secure and private. Dash is a fork of Bitcoin, meaning it has the same code as Bitcoin, but has been modified as it includes new features. Dash is a privacy-focused cryptocurrency with a native Blockchain. The ecosystem is geared towards creating a versatile payment path, including instant data and privacy protection through anonymization technology. It has recently moved away from its privacy focus to gain more momentum in the payments space.
