Will Bitcoin Be Overtaken? Top Contenders in the Cryptocurrency Universe
The development of Bitcoin and other major cryptocurrencies around the world wasn’t just a transformation for online payment methods and processing. It also opened up doors to a diverse form of online trading for many investors and high-end traders. Since Bitcoin is one of the most traded and stable cryptocurrencies, it has become the highest-value cryptocurrency. Although Ethereum runs a pretty close second position, it’s still far from beating Bitcoin.
But, many professionals in the online cryptocurrency processing and trading universe believe that Bitcoin might get beat down by some highly lucrative crypto options in the markets.
The Top Cryptocurrency Contenders Capable of Beating Bitcoin
Keep in mind that beating Bitcoin isn’t an overnight game and can still take a few years at the very least. Plus, the growth and rapid rise in popularity of the below-mentioned cryptocurrency coins aren’t too big for Bitcoin to worry about. However, the rising potential and increasing applications might carve the path for some cryptocurrencies to get closer to Bitcoin and other major digital coins in the market.
The blockchain technology behind Stellar is “star”. The most time any transaction on Stellar’s blockchain network has taken up is no more than two to five seconds. Surprisingly, the quick transaction and immediate processing times are highly attractive features of the said cryptocurrency. Besides, the fast processing time with Stellar could enable a major improvement for cross-border payments that usually involve countless verification checks.
Overall, the operations of Stellar coins are focused on scalable cross-border payment applications. Plus, it has its own versions of smart contracts that clearly indicate how it’s targeting enterprise customers.
Monero has a market cap of over $250 billion across the world! While that seems extremely high, it’s comparatively very low against the major cryptocurrencies like Ripple, Ethereum, and of course, Bitcoin. It has the potential to make jaws drop and heads turn by surpassing Bitcoin and becoming a larger cryptocurrency.
It places a huge emphasis on privacy coins that hide the identity and promote anonymity for both senders and receivers both when they’re engaging with virtual funds. It’s very same to the other cryptocurrencies and virtual coins in the market.
Until now, Ripple might have been the biggest threat to the position of Bitcoin in the world’s cryptocurrency markets. That’s because the said cryptocurrency, i.e. Ripple, has already doubled its market capital once and doubling it again in the major markets could help it surpass Bitcoin quite easily in the future. While it’s specifically targeting big banks, the blockchain technology behind Ripple is one of the major causes of its popularity and attention gain.
Are you a cryptocurrency trader and/ or investor? Are you figuring out which cryptocurrency besides the top favorites in the world are capable of advancing online payment processing and applications? Well, the abovementioned cryptocurrencies are still a far way from catching up to Bitcoin and other major coins. Despite that, the hidden potential behind many digital crypto assets raise considerable suspicions in the cryptocurrency markets.