Potential Crypto moonshots 2021
I would like to start my blog with a “Disclaimer”: All readers are advised that I am not the financial adviser and the article below should not be considered as financial advice.
I outlay the reasons of some of the crypto currency projects that has the potential to moonshot in next few years. I choose 3 sectors. Defi, software & The methodology I generally use to identify the crypto projects are 3 fold: use case, team & mass adaptation.
Crypto moonshot project: Ripple
Ripple is a private currency system on a digital ledger. Ripple is cheaper, easier, and more transparent for people to send money around the world. it solves three problems of cross-border transactions: speed, transparency, and cost. What does this infer? It means banks can send money to any other bank on the Ripple network within few seconds. And when you send money via Ripple, you know the exact cost and exchange rate through blockchain, you can immediately see transactions being processed – making it transparent. Plus, Ripple is cheap to use. According to a report published by Ripple, it claims to be at least 42% cheaper than traditional (SWIFT) payments systems. As more users adopt the Ripple platform, these cost savings are projected to climb to 62% overtime. And this doesn’t even account for additional compliance- and tracking-related cost savings.
Crypto moonshot project: Dragonchain:
Disney Open Source Project “Dragonchain” is a blockchain as a service platform to build blockchain applications. It simplifies the technology by providing easy integration into existing systems, provides multi-currency support so it can be used worldwide and it uses multiple popular programming languages –such as Java, Python, Node, and C#, which make it easier to develop. One of its main features is securing private business data (like how a dragon protects its treasure, hence the name Dragonchain). To accommodate private businesses, Dragonchain uses a unique five-layer architecture for consensus. Each successive level is more secure than the previous level. Level 1, for example, would be for inter-company-type verifications, where business is largely conducted on a trust basis. And that moves up to Level 5, its most secure level, which bridges to one or more of the public blockchains, like bitcoin or Ethereum.