Top cryptocurrency/blockchain – transforming the Ecomm world
The e-commerce industry has experienced explosive growth over recent years. Without any doubt blockchain, is one of the most transformative technologies in the world right now. The revolutionizing technology ensures secure transactions with an aim to disrupt the industry by creating a decentralized platform whereby provides solutions by eliminating middlemen in all transactions. Innovative applications are remodeling multiple industries like banking, finance, supply chain & healthcare thus providing a more pleasurable online shopping experience for the consumers.
So, to say in simple terms, blockchain is referred to as a decentralized database of blocks of information recorded in a chain format and linked to each other in a secured cryptographical way.
Here we share with you some top cryptocurrency/blockchain projects trends that will shape the blockchain and crypto fields in 2022 and years to come in an attempt to transform the e-commerce world.
- Bitcoin (BTC)
Bitcoin is the most stable and profitable crypto paving the way for others while having the highest liquidity in the space. Known as the king of Cryptocurrencies, this is the most widely recognized cryptocurrency to buy for beginners. This form of digital money is being adopted by Bloomberg, Microsoft, Expedia.com to name a few while others are also teaming together to develop a blockchain system as well.
Since it is easy to purchase even for beginners, BTC is supported by all the top exchanges and wallets and accounts for over 60% of the total cryptocurrency market cap. Needless to say, BTC remains the market leader and continues to be an international financial asset that will almost certainly have a good 2022 as well.
- Ripple (XRP)
This American Fintech company developed the Ripple protocol & exchange platform that provides cross-border payment solutions via Blockchain technology. The Ripple real-time payment system enables banks and other financial service providers to transact directly with each other without third-party correspondence. Thus, a great tool for recording and completing banking transactions and a fast choice for the international transactions as well.
What makes Ripple stand apart from the other cryptocurrencies is that it is built entirely around the centralized control of Ripple Labs that controls nearly 60% of the overall supply of XRP, the Ripple currency. Those who are looking at new generations of banking and transaction technology are adopting this blockchain technology not to forget to mention the blue-chip banking companies like Bank of America & UBS.
- Litecoin (LTC)
Litecoin is open-source software and one of the most popular Bitcoin-alternative currencies out there, given to understand that it has the capability to handle a higher volume of transactions than Bitcoin with a greater block-generation frequency.
True to its name, ‘Lite’, Litecoin transactions take around 2.5 minutes as compared to Bitcoin where the transaction takes 10 minutes to complete. This application believes to generate a larger number of coins, four-time more than the Bitcoin Network will issue. Another difference worth mentioning is that Litecoin has its own hashtag algorithm which is a sequential memory-hard function that relies on asymptotically greater memory than other types of algorithms.
- Bitcoin Cash (BCH)
Although, Bitcoin cash shares many of the same characteristics as BTC, yet has a few changes that set it apart with the main difference being the ‘block size’. Currently, having made a place for itself among the top 10 cryptocurrencies. This block size upgrade is seen as a simple method for faster, reliable transactions.
Other core features include the low fees with affordable transactions whatever the value and location, undoubtedly an effective alternative to payment networks like Mastercard or Visa card. Transactions recorded on a global public ledger called the blockchain allows everyone to see the complete details of ownership, thus building transparency to eliminate the potential for any fraud. Information stored by a network of participants known as ‘nodes’ ensures the longevity of information, and it can be assumed that investing in Bitcoin Cash is definitely a safe investment.
- Ethereum (ETH)
Much more than just a digital currency, this blockchain-based platform has made great strides in having developed smart contracts, which is considered the next big thing in the crypto universe. Furthermore, Ethereum also provides a great platform for launching the ICO (Initial Coin Offerings) for other blockchain projects.
Ethereum allows you to make agreements directly with someone else without going through intermediary companies. Based on open-source technology this platform is an open alternative to the current financial system. Although, Ethereum has experienced fluctuations in the market with a downward trend currently, it has started showing signs of upward trends in January 2022 and with market dynamics and dynamics behind the Ethereum project, there is no reason to assume that the investment has come to an end.
- Cardano (ADA)
Cardano is a third-generation blockchain and set to have a big 2022. Built on a programming language Haskell thus eliminating human error making it one of the most secure platforms. Quite like any other cryptocurrency, ADA can be bought, traded, and used for transactions on the blockchain offering its clients the scope to add extra details to their exchanges.
Open and inclusive, bringing a new standard in the technology, Cardano is assembled on Ouroboros the first most environmentally sustainable peer-reviewed secured blockchain protocol which is provably secure against attackers. What characterises Cardano is its rapid transaction process as compared to the other cryptocurrencies available in the market. Not only known for its fastest cryptocurrency, it is also highly decentralized in nature. All in all, with so many advantages to offer to its holders Cardano is a definite favourable pick as it is emerging as a strong competitor when it comes to blockchain currencies.
There is no doubt that the cryptocurrency is bringing a positive change in the digital world and cryptocurrencies’ underlying technology, the blockchain, is being taken into consideration in the ecommerce world, providing control and accessibility of personal data that no other technology or application is capable of impacting a wide array of businesses. The promise of a blockchain is real, hence many start-ups are springing up every day. Cryptocurrency is moving ahead, and transforming the digital marketing rapidly having the potential to bring out effective outcomes while making the right investments at the right time.
