FinancialCentre’s Analyst Thinks These Lesser-known Cryptocurrencies Deserve More People’s Attention


London, UK – There are currently up to 18,000 cryptocurrencies in existence, with new ones being created all the time. While most people are familiar with the big names like Bitcoin and Ethereum, many other lesser-known digital currencies are worth paying attention to as well.

Tom Morrison, an analyst at FinancialCentre, has done their research to bring more people’s attention to the hidden gems of the crypto world. So, let’s see what’s in store for us.

Filecoin

Analyst says that Filecoinis not a traditional cryptocurrency with a market cap of $3.6 billion. 

Filecoin is a decentralized network that turns cloud storage into an algorithmic market. The market runs on a blockchain with a native protocol token, the Filecoin token, which miners earn by providing storage to clients. 

As the network grows, so does the demand for storage. It makes Filecoin an attractive investment opportunity. 

In addition, Filecoin is highly scalable and offers several features that make it an appealing storage solution, such as encryption and redundancy. As more people and businesses begin to use Filecoin, the demand for storage will only increase, making it a wise investment for those looking to profit from the growth of the decentralized web.

Why Invest In Filecoin?

Here are a few reasons to invest in Filecoin:

  • Decentralized storage is a trillion-dollar market. Filecoin’s offer of cheaper, more secure, and more private storage could take a large chunk of this market.
  • The team behind Filecoin is strong. They have a track record of delivering on their promises and have the backing of top-tier VCs.
  • The token economics are sound. The use of the Filecoin token creates network effects and positive feedback loops that should increase the value of the token over time.

Algorand (ALGO)

The analyst’s second pick is Algorand. It is a cryptocurrency that was created in June 2017. The technology behind Algorand is based on a paper that was published in October 2016 by Silvio Micali, who is also the founder of the company. 

The goal of Algorand is to provide a blockchain platform that is scalable, secure, and easy to use. Algorand achieves this by using a Proof-of-Stake consensus algorithm instead of the more common Proof-of-Work algorithm. It allows for rapid transaction processing and eliminates the need for energy-intensive mining operations. 

In addition, Algorand uses a unique system of rewards called “micro blocks” to incentivize users to participate in the network. These factors make Algorand an attractive choice for investors who are looking for a cryptocurrency with high potential growth.

Why Invest In Algorand?

Algorand is one of the most promising cryptocurrencies and blockchain projects in the market today. Here are some of the reasons why you should consider investing in Algorand:

  • Algorand can process thousands of transactions per second without compromising security or decentralization.
  • The Algorand consensus algorithm ensures that all transactions are final and irrevocable.
  • The platform is easy to use, and developers can quickly build applications on top of it.
  • The team behind Algorand is experienced and has a proven track record.
  • The technology is sound and has the potential to be highly scalable.
  • The use of micro blocks creates an incentive structure that should lead to increased network participation and growth.
  • The token economics are favorable, with a limited supply of tokens and a high potential demand.

Zcash

Zcash provides selective transparency of transactions and privacy. Zcash payments are published on a public blockchain. However, the sender, recipient, and transaction amount may remain private. 

In contrast to Bitcoin, Zcash’s private transactions hide the sender, recipient, and value of all transactions on the blockchain. 

Zcash is based on Bitcoin’s codebase and shares many of the same technical strengths. 

However, there are a few critical differences. First and foremost, Bitcoin is pseudonymous, whereas Zcash is entirely anonymous. 

Secondly, Bitcoin’s blockchain shows all transactions, while selective transparency is available on Zcash’s blockchain—allowing shielded addresses to choose to appear on the blockchain or not. L

Lastly, while both networks have a fixed total supply of 21 million coins, Zcash’s emission schedule appears faster in the short term due to its higher block reward. But this will change over time. 

Investors should be cautious of putting too much into any cryptocurrency as prices are highly volatile. However, those looking for privacy and security may find that Zcash is a good option for cryptocurrency investment.

Why Invest In Zcash?

There are many reasons to invest in Zcash. Here are just a few:

  • Zcash is a highly secure cryptocurrency that offers privacy and anonymity to its users.
  • Zcash is backed by a strong team of developers and has a bright future ahead.
  • Zcash offers fast and cheap transactions, making it ideal for everyday transactions.

Wrap Up

Investing in cryptocurrency can be a risky proposition. However, there are many potential rewards. These five cryptocurrencies are exciting projects with a lot of potentials. 

While no investment is ever guaranteed, these coins could offer investors a high return on investment in the future.

Disclaimer: Our content is intended to be used for informational purposes only. It is very important to do your own research before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find in this article and wish to rely upon, whether for the purpose of making an investment decision or otherwise.

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