Promising coins #7 – a RevenueBot Editor’s Pick


Numerous cryptocurrencies and tokens appear every day. Some of them are of a practical nature, which means they perform some sort of function. Others, on the contrary, have a purely entertainment purpose and may be in demand only due to the strong buzz around the project. RevenueBot has highlighted a few coins to watch out for.

eCash (XEC)

The coin’s blockchain is based on the Avalanche consensus algorithm. The project has set itself the ambitious goal to make digital assets known to users with an average income. That being said, the three concepts remain unchanged: 

  • Reliability;
  • Even distribution;
  • Fairness.

Unlike Ethereum, eCash is putting special emphasis on security and adoption of the asset as a full-fledged means of exchange.

Initially, there was no organized team. All that existed was a community of crypto-enthusiasts and developers backing the startup. Over time, a number of concerned groups of individuals emerged. When they could not achieve any agreement regarding the future prospects, a hard-fork was made. This is how Bitcoin Cash ABC saw the light of day in the fall of 2020. The project was masterminded by former HubSales employee Amaury Sechet.

It was already in June 2021 that the Bitcoin Cash ABC officially announced its rebranding. In the case of the new XEC cryptocurrency, the very first technology solution was to switch to Avalanche’s Proof-of-Stake consensus algorithm.

Kadena (KDA)

KDA is the unit of account of Kadena, a hybrid blockchain platform that incorporates a public blockchain, a permission-based network, and the Pact smart contract language.

Using Kadena blockchain, businesses across multiple industries can efficiently perform decentralized transactions and share data. Keeping up with the speed, scalability and security challenges of the current generation of blockchains is what Kadena is all about.

KDA is also used for payments on the Kadena public network. Similar to ETH on Ethereum, KDA on Kadena is a token by which miners are compensated for blocks of mining on the network, it is a transaction fee that users pay to have their transactions included in the block.

Kadena is an advanced state-of-the-art Proof of Work blockchain that runs the Chainweb protocol for security and high throughput. Designed to connect public applications, private blockchains and other interacting aggregations in one place, Kadena’s network will direct traffic to a high-throughput computer at the heart of Kadena’s public network.

IOTA (MIOTA)

IOTA is a unprecedented crypto powered by Tangle technology. The project team is collaborating with tech giants such as Google, IBM, Microsoft, and Samsung to implement the idea of a worldwide M2M computing network.

This coin was created to maintain the Internet of Things (IoT). The IOT system is billions of small computing devices with radio frequency modules that are increasingly being built into various appliances and other facilities around us, allowing them to send and receive data. IOTA turns these interconnected machines into autonomous economic agents, thus introducing a whole new “Economy Of Things.”

In 2015, when few people were particularly interested in crypto, yet the Internet of Things was already evolving, they started to develop the project. Developers figured out that the IoT would need its own internal currency. This was the spur to the creation of altcoin. 

Even before the draft, the creators decided that the such a crypto would provide the following parameters:

  • High transaction speed.
  • Greater security.
  • No fees for transactions.

In other words, the coin must overcome all the problems characteristic of Bitcoin. Among the contributors to the project were the pioneers of blockchain technology: Sergey Popov, Dominic Shiner, Sergey Ivancheglo, and other devotees. Most of them are from the CIS.

Conclusion

When investing in new coins, you keep an open mind on all the risks, because the chances of a coin remaining at the same price brackets or depreciating are sky-high.

This material is not a piece of financial advice and is for informational purposes only.

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