Just like when websites were in their infancy, different cryptocurrencies tackle different problems. Two of the largest sites in the world, Facebook and Google, would never be considered to be the same. So when deciding, based on tech, which cryptocurrencies are the best, you need to consider what uses they will have.
Where Ethereum stands out above the rest is the way in which it uses blockchain technology. There are several that can have an effect on a specific industry, such as Blockcerts disrupting education and academia or Ubiquity changing the real estate world, but Ethereum technology can affect all industries.
It is also one of the better digital monies to invest in, and if you are not sure where to start, this succinct list of the leading Cryptocurrency exchanges will guide you to the best places.
NEM was developed at about the same time as Ethereum and has some similar goals and objectives. Newer cryptocurrencies wanted to solve the problems that the very first one, Bitcoin, had, but the way NEM has done that is different to any other. It has a concept known as Mosaics. This views smart contracts in a unique way compared to other blockchain technologies. Mosaics allows for blockchain assets that can be interacted with while adding variety that can only strengthen the ecosystem.
Monero tackles the problem of privacy very successfully. It provides all the benefits of a decentralized cryptocurrency, with any of the typical privacy issues. None of its transactions are traceable; so even the person you are dealing with need not know who you are, unless you want them to.
Iota works the opposite of Bitcoin, which slowed down as more users carried out transactions. The technology Iota uses means that with more users, it gets faster. Iota was developed as a distant relation of the blockchain and is already far more advanced.
How to Find the Best Cryptocurrencies, Based on Tech
It could be that none of the four cryptocurrencies mentioned above are suitable for you. There are many others out there, but how do you find the best one for you?
Start off by checking out their website. Click on any link that contains information, but the homepage should give a basic idea of the developer’s intentions. Look at other sources of information, you will find lots of them online, including in places like YouTube.
Take a look at the founders and core team members. You will usually find this information on the website. They often give interviews that are worth watching, or look at their profiles on Facebook, Twitter and LinkedIn. Check out their Reddit, as this will answer many of your questions. If you still have queries, don’t be afraid to ask for more information. A general rule of thumb, whether you are basing your investment on tech or on past performance, is if you are not comfortable trading in a particular cryptocurrency, then don’t. There are plenty of others out there for you to choose from.