Before investing in cryptocurrencies, many investors settle for projects that have a fully working product or service. Notably, a working cryptocurrency project should be active and available to the general public. These projects are used by individuals and businesses for decentralized applications, smart contracts or cryptocurrency payments.
Before qualifying as a working project, a cryptocurrency should have a release history, achieve key milestones, release a real product, early adoption, and have any user base. However, the market has projects that consider their mainnets as working products without any notable adoption. In this guide, we have some of the best cryptocurrencies with a working product. All these projects share a few things in common. They have a strong team, robust community and they have long term viability.
Basic Attention Token (BAT)
The Basic Attention Token is already a working project integrated with the Brave browser. At the moment, Brave browser has about three million users both on desktop and mobile version. This user base makes BAT one of the most popular cryptocurrency working projects. The browser’s main goal is to enhance the privacy of users. Brave seeks to offer fast and secure browsing experience without adverts courtesy of the inbuilt ad blocker. This concept is different from peers like Google Chrome and Firefox.
Under the Brave business model, content creators earn through the BAT token. Furthermore, readers can distribute BAT tokens to their favorite content creators. Brave users also earn through BAT by browsing compatible websites. Users can agree to replace usual adverts, with anonymous adverts from Brave to get payments. According to the BAT team, users can earn up to 70% of revenue from the adverts.
BAT seeks to revolutionize the online advert system by blocking adverts. It plans to pave a new way of adverts with a focus on user attention, rethinking the way online adverts are delivered. In this case, BAT token acts as the currency to facilitate the sale of advertising space to content creators.
The future of BAT heavily depends on the growth of Brave browser’s advertising model. However, with the rapid rise of Brave, BAT’s prospects seem promising.
VeChain Thor is a blockchain platform for the supply chain management system. The project uses the tamper-proof and distributed ledger technology. With VeChain, both retailers and consumers can find out the quality and authenticity of the products they purchase. Through the project, it is easy to track all supply chain information like materials used and service history. Stakeholders record and verify this information to build a secure supply chain ecosystem.
Furthermore, VeChain deploys numerous smart chips alongside the blockchain to monitor products. These chips have the capability of being rolled out in IoT systems and items like QR codes, RFID trackers, and NFC chips.
VeChain is a promising project that deploys two main tokens. We have the VeChain Tokens (VET) and VeThor Tokens (VTHO). The two tokens work as GAS where VET is for staking VTHO. The former pays tokenized transactions. Furthermore, VET offers holders a higher priority and more rights on blockchain services. Any VET holder receives VTHO for performing smart contracts and operating apps.
The supply chain is a huge industry and VeChain Thor’s growth is just a matter of time. The industry has massive moving parts. Everything involved in getting everything you buy, from gas to food, clothes, and drugs has a supply chain. VeChain has also formed a partnership with the Government of China, along with numerous international firms. The platform has partnered with Healthcare Co Ltd, Hyperledger, Jiangsu Printed Electronics Co Ltd, Kuehne & Nagel, Microsoft, PwC among others. These partnerships are positioning VeChain as the disruptive, and innovative force for reshaping the supply chain management industry. This means that the value of VET is set for positive gains.
Enjin coin is a blockchain gaming frontier. The coin is an ERC20 token from the Ethereum network. Based on the development platform, the Enjin coin works as a cryptocurrency. Furthermore, it has smart contract capabilities. The Enjin team created the coin around gaming with the aim of transforming the asset as the most used digital currency in the industry. Developers can integrate Enjin coin and software development kits in gaming communities. With the rollout of gaming in the blockchain, we have a reduction in fees and fraud cases.
Enjin Coin is also spearheading the development and management of virtual goods to the gaming industry. Developers can set up a currency specifically for their community supported by Enjin coin as the base currency. In return, the coins are able to get benefits of the blockchain like speed. In the end, we have an interlinked ecosystem of games and communities that allow movement of assets between different platforms.
Notably, every asset is recorded on a Registry smart contract recognizable by the Enjin Smart Wallets. Furthermore, a user can trade virtual goods for Enjin Coins at any time. The Enjin smart wallet links everything together by backing virtual goods from each trusted platform. A user can trade coins and items outside of the gaming environment to any other user with a Smart Wallet. Through the wallet, you send transactions via a Transaction Request that the other party can either approve or decline.
Ethereum is the brainchild of Vitalik Buterin. Since joining the market in 2014, Ethereum brought about smart contracts to the blockchain. Smart contracts sparked a revolution within the cryptocurrency industry. The ICO boom of 2017 was also a product of Ethereum’s development platform. The smart contract is successful since hundreds of businesses, individuals, and blockchain projects are using Ethereum as their main smart contracts platform.
The goal of Ethereum was to be a one-stop shop for developing dApps and smart contracts. Since the launch, over 600 dApps have been developed on the Ethereum network. A look at the top 100 coins indicates that 94 are a product of the Ethereum network. Compared to traditional applications, dApps have numerous advantages like lack of a central point of failure. Additionally, dApps are not susceptible to server outages since they are run by a network of thousands of nodes which act as mini-servers.
However, the growth of the Ethereum platform has led to cases of hacking, hard forks, and scaling issues. However, Ethereum developers are working on solving these challenges through regular updates.
With cryptocurrencies, different projects are undergoing development awaiting official release. However, some of these projects do not have a clear roadmap on the solution they are offering to the market. The covered cryptocurrencies are among the leading coins that you can consider investing in with working projects. However, with the volatility of cryptocurrencies, always conduct your research before investing.
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