Bitcoin (BTC) set the trend and blew off the roof in 2017. When it rallied to reach $20,000 that December, people became instant Bitcoin millionaires. That huge rally has been predicted again, modest in some instances and outrageous in some.
It continues to inspire, but in 2018, altcoins are coming to the fore. Ethereum too rose to monumental prices in 2017, showing that a good run by an altcoin was possible. That’s the reason, betting on some of the coins could prove very profitable. Two of these coins are IOTA (MIOTA) and VeChain (VEN).
Why should you look at the two instead of BTC?
Bitcoin has problems
Bitcoin came onto the scene aiming to provide a currency that allowed very low towards free transactions. The goal was to enable users to undertake micro transactions. However, BTC has failed to do that, buckling under scalability and huge fees. It has led to a decline in the number of the transaction completed on the network and focus shifting to other coins that are faster and cheaper. As such, Bitcoin is losing its grip on the market and will likely not see the predicted massive growth in coming years.
IOTA and VeChain, on the other hand, provide fee-free platforms. IOTA does so using its “Tangle”. The more people that use the IOTA network, the faster the network becomes, potentially having infinite scalability.
On the other hand, VeChain, which is a Blockchain-as-a-Service (BaaS) network, leverages the blockchain to provide a trust-free and highly scalable platform. By having higher throughputs, both coins are well-poised to continue penetrating the market as more projects are taken up.
The potential for exponential growth is with the altcoins due to this, even if Bitcoin were to scale higher after implementing Lightning Network.
Real -world Use cases and Growth potential
The IOTA Foundation and the VeChain Foundation have pushed the two coins to the brink of a major break out in terms of adoption. Bitcoin may have the brand recognition, but it doesn’t have the wide use cases commanded by these two projects.
VeChain is focused on achieving a rapid growth and penetrate the market. The platform has smart contracts, dApps, and ICOs. VeChain is positioning itself as the best-placed blockchain that would offer a wide range of services that include IoT, supply chain, data transfer, and shipping and logistics. They are already providing services in areas like luxury goods, food supply, agriculture, the automotive sector, and retail.
The same applies to IOTA, which has set itself ready for an explosive growth with its Qubic project. The Tangle can be applied to several use cases that make it one of the most versatile platforms. Like VeChain, it has used in IoT, supply chain, eHealth, smart energy, and the automobile industry.
Related to the potential for growth is the number of partnerships that these two altcoins have secured. The VeChain team has secured mouth-watering deals with companies like BMW, PricewaterhouseCoopers, Deloitte, and DV-NGL. IOTA, on the other hand, has partnerships with almost every other major automaker and tech giant. Companies like Bosch, Volkswagen, Microsoft, Fujitsu, and Porsche have all seen the potential in the Tangle and are working towards integrating its technology.
So, while Bitcoin will likely continue to grapple with issues, there are two coins that could grow from real-world use. The crypto-coins may not really replace fiat, but the world needs to solve real problems like counterfeit, green energy, and machine-to-machine transactions. MIOTA and VEN/VET do have a real appeal and will command demand- value rising in return.
IOTA and VEN price and market details
The total market capitalization is $321 billion with Bitcoin’s $124 billion cap, giving it a market dominance of 38.7%. The leading coin is trading at $7278, about 70% lower than its all-time high.
IOTA contributes to the total cap with $4.1 billion and trading at $1.50, and it is ranked 9th. VEN ranks at 16th with a market cap of $2 billion. It currently trades at $3.66 against the US dollar.
Although Bitcoin (BTC) has been predicted to reach over $100k in 2018, the prediction isn’t based on real-world use case and may not happen. IOTA (MIOTA) and Vechain (VEN) present a better prospect for future growth.