Before the cryptocurrencies, people were only familiar with only traditional currencies. But as time changes, we welcome new technologies that come with unique features. The concept of cryptocurrencies also came as a new example in the contemporary financial world. Though initially, the concept of digital currencies was not welcomed on a positive note and faced the brunt of the ban in a big country like India. However, the ban was uprooted by the Supreme Court of India, and this made cryptocurrencies legalised. Now, although there have been many virtual currencies, which made a good start but could not last long due to technical loopholes, which were not timely rectified and later crashed down. But there are some cryptocurrencies which have the potential to compete with Bitcoin, even though, could not surpass it. Today, we are listing cryptocurrencies which seem promising in 2020.
Stellar
Stellar is one of the best altcoins to invest in India. If you are abreast with Breaking Crypto news, then you might be knowing that it ranked among the best altcoins. On January 2, 2020, $0.55 was estimated to be its current price. Stellar is supposed to be the open-source protocol that enables cross-border transactions between pair of currencies.
Cardano
Cardano (ADA) is a decentralized platform that will allow complex programmable transfers of value in a secure and scalable fashion. Cardano consists of a development team which involves global expert researchers and experienced engineers. It has a layered blockchain software which is scalable as well as flexible.
Verge
Verge is also among those cryptocurrencies which seem promising in the current year. It consists of the transparent ledger where anyone can see the transactions. But it promises to keep user identity protected and does not let leaking of IP addresses. In the year 2014, when the Verge was created, it was named as DogeCoinDark. But in the year 2016, it was rebranded to the name of Verge. In April 2018, it went through a difficult phase with mining attack.
Ethereum
If there is any other alternate currency that can be pitted against Bitcoin, then it is Ethereum. It is among the best altcoins to invest in India. Just as every technology is credited with its founder, Ethereum is also a brainchild of Vitalik Buterin. This Canadian programmer is the one who introduced this altcoin in the year 2013. This cryptocurrency is among the best of all its counterparts. Here you have a chance to earn money in the long run.
Steem
Steem is among those cryptocurrencies which seem promising in 2020. It is a virtual currency that came into being on March 24, 2016. It is based on content focused Steem blockchain. Dan Larimer and Ned Scott founded it. Steem ranks among the 40 in total market capitalization. Decentralized data storage and application are two of the essential motives of Steem blockchain. Steem blockchain consists of two volatile virtual currencies; one is SBD (Stablecoin Steem Dollars) and Steem. Steem power gets staked by Steem to gain resources and influence on the blockchain. Here users are allowed to make a unique account which must have atleast sixteen characters. It is best used for transactions and references in the network.
Conclusion
This is all those cryptocurrencies which seem promising in 2020. Though, with the unexpected emergence of coronavirus, it might become very challenging for these digital currencies to achieve their target. Well, we can’t be sure enough to estimate the end of the deadly virus in the coming time. But if there are any cryptocurrencies which have the potential to shine in coming years, then these might be those currencies which can live up to the expectation. Though Bitcoin mostly remains an undisputed cryptocurrency, still, if there is an alternate currency which can give a close competition to it, then it is Ethereum.
