This is a good question, as it seeks to find out what could make these altcoins survive the treacherous cryptocurrency landscape. Many experts have warned that only 1-5% of the entire crypto load will make it into full functionality and gain mainstream adoption.
The rest will fizzle out. So, what does these three have that could play a major role in their ultimate quest to remain relevant?
Monero is one among a host of privacy-focused coins on the market. It would be prudent to simply say that this coin has a future in cryptocurrency. However, that isn’t enough and thus we look at what the crypto has that would give it a shot at 2018 and beyond. First, remember that XMR has had a good 2018 following on the excellent 2017.
Ring CT- untraceability and unlinkability
One factor that continues to work for Monero is its Ring signatures feature. Simply put, it’s what gives it untraceability. The ability to hide transaction amounts to avoid being traced to the sender or receiver is a great factor that will continue to endear users. Ring CT is a mainstay of Monero and that will keep it viable for the foreseeable future. Also included here are the Kovri and Multi-sig updates.
Team and community
Monero’s team is known to adhere to development milestones that come in hard forks in 6 months intervals. The team has a good rapport with the community as a result. There’s also the issue of the team being timely with upgrades regarding security, network speed, and anonymity. This has helped to keep the project’s participant happy.
Most cryptocurrencies suffer from scalability challenges. Monero’s Bulletproofs bring this under control and make the network attractive for users. They are short, non-interactive; zero-knowledge proofs that cut transaction sizes by 80%. This leads to a faster network validation and lowers fees.
Monero has a future as long users will continue to value their privacy. If the coin gets listed on all the major exchanges, then expect value growth for XMR.
NEO is seen as the biggest competitor for Ethereum due to its robust network. The community believes that NEO will be built upon what Ethereum has, making it better. If that’s the case, then the platform already looks to have a future to fight for.
The crypto made a breakthrough when it rebranded from Antshares to NEO. But what else gives this platform the edge it has over other similar projects? It’s all in its vision of a New Economy using blockchain.
Smart Contracts 2.0
Ethereum has a very good smart contracts platform, but Solidity has made using it a bit challenging.NEO, on the contrary, allows programming in numerous languages including Python, C#, and Java. Its platform is thus one anyone can use to code a smart contract. More developers mean added growth.
This is a very central aspect of the NEO blockchain and one that is setting it apart from many other cryptocurrencies. Basically, it allows NEO to be on the right side of KYC/AML regulations. As a feature, Digital Identity is likely to draw many mainstream companies to the NEO platform.
It also may be the reason the crypto enjoys a warm relationship with the Chinese government. If NEO partners the government, that would cement its position in cryptocurrency.
As far as crypto ambitions go, this is it. It’s such a big factor in NEO’s plans that if it pulls it off, then nothing could stop it. it means that anything around us can be digitized and secured on the blockchain- be it a car, a book, house and so on. it could put all assets online and align them with smart contracts, effectively revolutionizing online business.
NEO also has numerous partnerships that all combine to give it a very big chance at success.
Dash is one of the cryptocurrencies that have gained a lot of attention from users globally. It may not have the appeal of Bitcoin, but it sure has a sizable community. Its ultra-fast transactions speed stood it well in 2017 and continues to do so. But what else does it have that makes it have a chance beyond 2018?
Bitcoin with privacy
Dash was created out of a fork of Bitcoin’s code. It thus provides most of the functionalities of Bitcoin plus the added advantage of privacy. Other than privacy, the crypto offers point-of-sale (POS), which improves a lot on bitcoin. It allows the crypto to be more than just a good store of value.
You can add greater security as some of the other factors that make Dash stand out. The coin is also mineable, one of the factors it’s so popular now.
Dash is said to be very user-eccentric. This isn’t exactly easy to put across, but it basically means that Dash values the user. Its team has variously claimed that their attention is for the users to be contented with the coin. Perhaps that’s why it’s been around since 2014 and still commands a good community as seen on social platforms.
The team has proved adept at marketing, likely capturing a sizable chunk of the new crypto enthusiasts. They, however, need to do more to penetrate the global appeal wall, as that’s where the real deal is.
DASH is accepted for payments
This is one of the advantages that the coin has. Even though the coins aren’t fungible, Dash is widely listed on numerous global sites. It thus is accessible. However, there’s one factor that could do it a lot of good. It revolves is because the crypto is already being accepted and used as a payment currency around the globe.
It can be used to buy anything, popularity enhanced by its instant transactions. The added features of InstaSend and PrivateSend make Dash attractive.
Conclusion: The crypto market can be unpredictable and there’s no telling what happens next. However, the three coins above all have features that set them up well for continued use and growth. Of all though, NEO looks to have the brightest future. The reason is its robust platform and closeness to the Chinese government.