Dagcoin, Ethereum And Ripple – Which one is Best For You?
One of the most inventive technologies of the decade is the Blockchain technology. The word sounds really fancy but in simple words, a blockchain is a special kind of distributed database which comes into play where there is not a single entity to take control and a decentralized database is required. It refers to a distributed computing system with zero fault tolerance to enable trust less consensus. Therefore, it is used to keep a record of events, digital assets, cryptocurrency, and voting system. In this article, I will describe the fastest growing industries on the stage of the world today that is Cryptocurrency.
Bitcoin is the most popular digital currency sold on the market of cryptocurrencies but due to a heavy downturn in its performance, the interest of the investors has considerably reduced towards Bitcoin. The two problems associated with Bitcoin, first being increasing transaction costs and the second being rising confirmation time is claimed to be solved by Dagcoin by entirely removing blockchain from the scenario and pitching in a mechanism called DAG-Chain. On the other hand, Ethereum was launched in 2015 to enable the creation of smart contracts and distributed applications. It is not a currency per se but is a decentralized platform that has its own digital currency called Ether. Ripple is a cryptocurrency launched in the year 2012 which basically acts like a real-time settlement scheme and currency exchange. This system allows to move different assets speedily as well as more money into various overseas currencies and therefore banks, in particular, are interested in this system.
It was developed in Estonia and has a very high potential of being an everyday currency. It brings in the new DAG-Chain which refers to a Directed Acyclic Graph. This technology is responsible for storing and ordering the data. In a directed acyclic graph the approval of the present transaction be subject to the earlier transactions. Hence, a user can secure his/her transaction by referencing previous transactions formed by other users in so doing abolishing the role of an external miner altogether and drastically reducing the transaction confirmation time. As the number of users rises so does the speed of transactions thereby decreasing the cost of transactions as well.
Simply put, Ethereum takes the core blockchain technology that Bitcoin theorized and evolves it. Everything Bitcoin can do, store money, sending/getting payments, Ethereum can also do but does it more proficiently. For 2019, the Ethereum Price projection says that the price will increase and could reach 2500 dollars and the Ethereum price estimates of 2020 specify confidence in further increases as well. Therefore it is perfectly fine to invest in Ethereum.
The difference between Ripple and other cryptocurrencies like Bitcoin is that it is not based on the blockchain. Instead, the cryptocurrency uses a HashTree and produces a single value to validate across the cryptocurrency servers. The value of Ripple is less from the currency itself and more than the Ripple Network, but accessing it need buying the currency. But the future for Ripple looks upright. Ripple’s current price prediction for 2019 states is that it might reach 6.57$ bringing the total market capitalization to a point that will be superior to that of Bitcoin and many other prominent cryptocurrencies on the market. Positive market outlook and heavy trading have currently set it on a positive ascendant path.
CHOICE BETWEEN THE ABOVE THREE
Cryptocurrencies are the future. The speed, safety and access possibilities they have to go far beyond the potentials of current money and banking. For example, those in the 3rd world without access geographically to banks, or who are making and sending very small payments (often in the cents) are locked out of the current banking system. However, in order for them to grow and reach these users, the unpredictability of the crypto prices must end and individuals must be able to use and spend them in more places, and more effortlessly. The solution is DAGCOIN.
The technology used for Dagcoin is a new direction in cryptocurrencies which has gained a lot of power lately. It uses the DAG (Directed Acyclic Graph) technology. At present Dagcoin is easily achievable via the SwipeX exchange platform. Anybody can download the wallet and start holding Dagcoins. The best part is, as soon as you purchase Dagcoins you can start using them straight away as a payment system. This year has seen the prices of cryptocurrencies drop extremely. Down from total valuation of $800 billion at the start of this year to a little over $200 billion today. Nonetheless, why is this? The extremely volatile price of crypto is caused by the way it is used. Almost all those who own it today are traders, buying and selling for profit. And in doing so they create highly unstable currencies that people and businesses in the mainstream just do not trust.
For cryptocurrencies to reach their full potential as mainstream currencies used by millions if not billions of people every day they need to be more usable. The focus in the media and current owners needs to change from the price of the coins to the usability of them. Changing to a system where the price of a coin is dictated by how many users it has, how many businesses accept it and how many transactions take place every day. Considering all these factors in mind, DAGCOIN is the most suitable option.