8 Cryptocurrencies to mention

Firstly I would like to state that I only like 2-3 of the projects I am about to mention here. I will add a '*' next to them. I am considering cooperatives that provide solutions for distributed ledger technology that are viable, feasible, and desirable for a general public. What the masses want, isn't always good for the progress of humanity. I think there are other, much better projects out there and I will cover them in my next post on cryptocurrencies separately. Staying true to the philosophy of decentralisation, I will exclude cryptocurrencies able to increase their circulation supplies from this dissertation. I shouldn't have included Stellar Lumens, but I believe that it's an important alternative. I also pointed out the scalability issue by adding the TPS and what each of the projects efforts are to address this.

[NOTE: There are many other coins that indicate their ability to solve the scalability issue compared to traditional high-performance legacy transaction processing systems. TPS (Transaction per Second). According to a Diar study Bitcoin, Bitcoin Cash, Litecoin, and Monero, have supply inflation rates over 2.5 percent this year.]

"A lot of people automatically dismiss e-currency as a lost cause because of all the companies that failed since the 1990’s. I hope it’s obvious it was only the centrally controlled nature of those systems that doomed them. I think this is the first time we’re trying a decentralized, non-trust-based system." – Satoshi Nakamoto

1. Bitcoin *

As a store of value Bitcoin is a great investment. After the invention of the internet, Bitcoin marks a paradigm shift in human economic history. With Bitcoin, distributed ledger technology conspicuously propels the web layer 2.0 into becoming the web 3.0. We knew that the monetary system we lived in had it's political economic flaws. As a decentralised peer-to-peer digital asset, bitcoin was intended to serve direct exchange of monetary value free from coercion. This is powerful freedom that will still grow and flourish. We will see more updates to the network in time to come. It's advantages are : it's permissionless, immune to seizure, censorship resistant, decentralised, limited supply, open source, fast and easy to use, a push system(non reversal transactions), real money, anonymity and it gives freedom to spend it anywhere in the world. The proof of work consensus mechanism that uses mining in an age of nuclear power, scarce uranium and radio active waste is questionable. Bitcoin processes 4.6 TPS. Bitcoin will scale but it doesn't matter much if one understands what Bitcoin really is.

2. Stellar Lumen

I honestly like Jed McCaleb and his story of how he created edonkey. He went on to create Mt. Gox and Ripple. I believe he left Ripple to start Stellar Lumen because Jed genuinely wanted to be a part of something that consciously leverages technology to reduce inefficiency and improve the human condition. I believe that stellar has a great use case for remittance and micropayment. Stellar Lumen uses it's own Stellar Consensus Protocol (SCP) that utilises a Traditional Byzantine agreement, basically a closed system of nodes. I am actually more interested in what Jed is up to next. Stellar Lumen can handle 1000 TPS. Stellar Lumen built-in, fixed, nominal inflation mechanism

3. Ontology *

The Platform was co-founded by Da HongFei and Erik Zhang who are also the founders of the NEO blockchain. Ontology is working on distributed identity verification, data exchange, data collaboration, procedure protocols, communities, attestation, and various industry-specific modules such as insurance, voting etc. The Ontology platform introduced a unique consensus algorithm called Verifiable Byzantine Fault Tolerance (VBFT), that allows a state of finality to be reached quickly by nodes within it's network. Although sharding is now a mainstream blockchain technology, Ontology uses a brilliant hierarchical network architecture. This allows for the achieving of ultra-large-scale network expansion through multi-layer network sharding. Ontology MainNet, “Ontology 1.0” claims to be able to process 5-7'000 TPS.

4. EOS *

I really like the fact that Dan Larimer's ideologies include non-violence and that he strongly shares Satoshi Nakamoto's opinions on decentralisation. The creator of the cryptocurrency platform Bitshares, co-founder of Steemit.com and the CTO of Block.one, Dan Larimer and his team had the longest ICO in history and raised more than 4 billion. Just imagine Amazon that raised 2.1 billion in investors money back in the 90s. With EOS funnelling large funds back into developers of Dapps, we are really in for an exciting future. An operating system based on an eco-system like EOS is mind boggling. Staking funds in CPU/NET and RAM is ingenious. EOS uses delegated Proof of Stake (dPoS) . EOS claims 3'996 TPS. The trade-off is centralisation, which gives key stakeholders more power than the rest of the community. It all makes perfect sense if one is comfortable relying on token holders for governance.

5. Tron

Created by Justin Sun, his idea was to bring the internet to a decentralized state. Being a powerful platform for Dapps, similar to EOS, Tron has received scrutiny from many sides but still seems to captivate a large audience. With an idea to heal the internet by enabling a free content entertainment system, Tron isn't just for sharing and storing entertainment content. Since users create their own content in a decentralised environment, Tron took this idea to the next level. Imagining the web 4.0 layer that allows data ownership by it's users he imagined to fully decentralise the Internet. Tron uses DPoS Delegated Proof of Stake. Another great cryptocurrency project that doesn't employ mining. Tron can handle 2000 TPS.

6. Cardano

Founded in 2015 by Charles Hoskinson, co founder of Ethereum and Jeremy Wood. IOHK and Cardano is one of the Cryptocurrencies I have much faith in. A very Academic project that aims to leverage there were most cryptocurrencies have failed. Using a Proof of Stake PoS based protocols called the Cardano Settlement Layer (CSL) and a set of protocols called the Cardano Computation Layer (CCL), Cardano aggregates it's consensus therein. Cardano can do between 50 and 250 TPS for now. What I appreciate about the IOHK team is that they are working aggressively towards developing sidechains and parallel chains for Cardano (ADA). We can expect to be surprised despite the seemingly slow process.

7. Litecoin

Litecoin was founded by Charlie Lee in October 2011 as a hard fork of Bitcoin. It is called the silver of Bitcoin's equivalent gold. Despite it's strong community that wants to implement the lightning network, Litecoin is based on the same technology as Bitcoin with a slightly higher available supply. I am sure Mr. Lee was aware of it's limitations in TPS back in 2017 when he sold the majority of the coins he owned. No one can deny that Litecoin has a very experienced team actively engaged in the development of it's ecosystem. It's solid Token economics gives Litecoin a promising future value. Litecoin uses PoW, Proof of Work consensus and mining. Litecoin has 56 TPS.

8. Basic Attention Token

Founded by Brendan Eich, co founder of the Mozilla Project and creator of the Java Script programming language, this project is already live with the Brave browser. BAT is build on top of the Ethereum blockchain. The team building the Brave browser are made to tackle the issues of privacy and make sure user, publisher and advertiser are incentivised by a decentralised peer to peer system. BAT allows us to engage with advertisers and publishers we wish to support. The Basic Attention Token clearly envisions how users, publishers and advertisers will monetise on content in the future. This is huge when you think of the fact that in 2017 digital advertising has surpassed television advertisements. TPS is 25. As Ethereum relies on a PoW and still hasn't switched to PoS, BAT remains a ERC-20 Token.

^{"In order to preserve the state of affairs in which there is protection of the individual against the unlimited tyranny of stronger and smarter fellows, an institution is needed that curbs all antisocial elements. Peace—the absence of perpetual fighting by everyone against everyone— can be attained only by the establishment of a system in which the power to resort to violent action is monopolized by a social apparatus of compulsion and coercion and the application of this power in any individual case is regulated by a set of rules—the man-made laws as distinguished both from the laws of nature and those of praxeology. The essential implement of a social system is the operation of such an apparatus commonly called government." (Ludwig von Mises, Human Action, XV. 6)}

---

^{Disclaimer: @yangyanje and his or her view of the cryptocurrency market and his blog on the steemit.com blockchain is impersonal financial information. No consideration can be or is made toward your financial circumstances. None of the material presented within the @yangyanje blog is to be regarded as investment or trading advice, but for general informational and entertainment purposes only.}

---

Thank you for reading. Kindly upvote if you enjoyed.
@yangyanje

[I used my own pictures and inserted the graphic logos of the Altcoins using Photoshop. For this reason I also used the #photography tag. I would also like to state my scepticism for many of the above coins I mentioned, because as I mentioned, progress comes at a price and what the masses want isn't always good for everyone. What makes many of these cryptocurrencies so strong are their communities! Here are some Steemians that I highly appreciate. You are amazing and I love your content: @cryptoyzzy, @artzone, @frankcapital, @piotrgrafik, @agnikana @manisha.jain9, @aishwarya, @glenalbrethsen, @inu-jim, @andrianna, @dailysketches, @sultan-aceh, @arthurgain, @jenina619, @kurokikuro, @marya77, @roveana, @ferjart, @iansart, @juliocesardraw @alkor, @abrahmatan, @scrawly, @vermillionfox, @nastyakrasotka, @inber, @juliakponsford, @marcocosta, @oscurocactus, @teungkumerdu, @gclipse, @greencross, @homeartpictures, @imealien, @inesafreedom, @larriji, @li-art, @marcusmalone, @maxer27, @mrwalt, @nanocheeze, @natha93, @dobartim, @nonstop, @chbartist, @nupulse, @orhansarikaya, @qst, @ran.koree, @raah, @reconnectnature, @rezalhok, @originalworks, @mediaworks, @rushitan, @sagittarius, @scottcbusiness, @scottychams, @sohailahmed, @space-man, @tammyp, @tecca, @tayer, @tonygreene113, @treeky, @webresultat, @wentong-syhhae, @yumm, @nathanmars, @unterwegs, @adrianna, @amy-goodrich, @metametheus, @oendertuerk, @daltono, @firepower, @heiditravels, @exyle, @francisftlp, @thepollengardens, @alexaventuria, @elenasteem, @yetaras, @kennyskitchen, @chireerocks, @walkerland, @majes.tytyty, @marcocosta, @pinkspectre, @honeydue, @nmalove, @eco-alex, @tommyrobinson, @thepollengardens, @artemislives, @barbara-orenya, @hatu, @michael.thomale, @amy-goodrich, @riverflows, @streetstyle, @soyrosa, @nathanmars]