Top 8 Cryptocurrencies with the Most Practical Use Cases

We see tens of crypto projects going live on crypto exchanges every day. However, not all of them are user-centric and offer much use to the investors. While some are there to rip off money, some on the other hand have been created out of “fun”. In such a situation, it is very important for you to invest in cryptocurrencies that have practical utility in the world outside the crypto market. This is because if the projects do not offer practical use cases to the users, they are soon going to crash and never come up again. So, here is a list of 8 cryptocurrencies with the most practical use cases outside of the crypto world.?

Ethereum

Ethereum?is the top pick in the list of cryptocurrencies with the most practical use cases. It is because Ethereum aims to create a decentralized system of financial products that anyone in the world can access without the bars of nationality, faith, or ethical background. In countries where there is no state infrastructure for people to obtain loans, insurance, and set up bank accounts, Ethereum has emerged as a leader in providing access to such financial services to the people. Apart from its impressive aim, Ethereum has been involved in various NFT-based blockchain projects. In December 2020, the founding company transitioned from the Proof of Work consensus mechanism to the Proof of Stake. This added much more practicality and sustainability to the world.?

Solana:?Cryptocurrencies with the Most Practical Use

Solana stands out from other cryptocurrencies in this list because it uses Proof of History consensus. This mechanism maps the passage of time cryptographically. Since there is no human intervention in the working of this mechanism, it is high time as well as energy-efficient. It aims to deliver similar services to the users as Ethereum. But it is working to overcome the drawbacks of Ethereum like slow transaction times and high gas fees. However, it should be noted here that Solana is still in the experimental stage.??

Polkadot

The fact that Polkadot uses the Proof of Stake consensus mechanism is one of the most practical features of this cryptocurrency. Secondly, the project aims to deliver interoperability among several blockchains so that they can work together under the same roof. Besides providing interoperability, Polkadot allows developers to develop their own blockchains. They can seek security features from the security system of the core project, Polkadot. This feature of shared security offered by Polkadot helps smaller projects strengthen their security features and protect themselves from attacks.?

Monero:?Cryptocurrencies with the Most Practical Use

Monera is another crypto project that focuses on providing complete decentralization and scalability to the users. While these features are provided by many other platforms, the fact that Monera aims to establish complete security by means of ring signatures is what makes it stand out from the rest of the currencies. The ring signature thing works by including multiple cryptographic signatures. Among these cryptographic signatures, there is at least one real participant but it is impossible to identify the real participant. In addition to this, the entire work of Monero is supported by donations and driven by community work.?

Golem

Golem offers a supercomputer that derives its power from several different personal laptops as well as large-scale data centers. It aims to enable its users to perform complex calculations and even mine currencies without having to worry about the source of power. The Golem users can run a website, perform rendering operations, run long-code and carry out heavy energy-intensive calculations and tasks with the help of its supercomputer. The whole system works by the users who want to use the computational power, lending GNT tokens to the protocol. Next, the GNT tokens are given to the users who are lending their computer’s power to the Golem Network.?

Cardano:?Cryptocurrencies with the Most Practical Use

Cardano is born out of rigorous experiential and reviewed research, weighing its features against several other competitor crypto projects. The team behind Cardano has been involved in publishing 120 research papers on blockchain technology and various other topics revolving around it. Cardano aims to build a system that delivers decentralized financial products. In addition, it also aims to build chain operability, eliminate voter fraud, and support contract tracing among other practical use cases. It also uses the Proof of Stake consensus algorithm, making it much more efficient and practical as compared to its peer crypto projects.?

IOTA

The principle that drives the working of IOTA is the internet of things. With this technology, IOTA aims to empower its users to navigate their digital lives safely and securely. The feature that IOTA offers is completely free transactions which makes it one of a kind cryptocurrency. It doesn’t only connect IoT with secure data and value exchange but also protects the integrity and verifiability of the data. It uses its own Tangle technology which is a feeless, open and scalable distributed ledger. This enables transactions to be free from charges and waiting time. Though the currency is still not so popular among crypto investors, it is soon going to occupy a larger space in the world.?

VeChain

VeChain is another revolutionary crypto project that aims to make the supply chains much more transparent. This enables companies to track the progress of their products. It also helps the buyers to see what is the origin of the products that they are buying. The system works by allocating a unique identifier to the products with sensors attached to them. Therefore, whenever a product leaves the warehouse and enters a supply chain, the selling company as well buyers can track the products and find out the loopholes if anything goes wrong with the product. The target audience of VeChain includes industries like healthcare, automobiles, and luxury fashion. This can largely help companies and buyers build trust in each other.?

Conclusion

Now that you are aware of the most practical crypto projects, it is time for you to?plan working strategies?and start investing. Remember that volatility is an undeniable truth of cryptocurrencies and you can never escape it. So, whenever you see the prices of your crypto assets falling down the curve, stay calm and plan a way forward.