At this point in time I think the only one worth talking about in this context is Bitcoin.
The main value propositions of Bitcoin are that it is a database where the flow of information is impossible to censor, which works in a trustless way between any parties, and that is maintained and developed in a decentralized fashion without a single point of failure.
These alone are in my opinion enough of a leap in innovation that it will potentially reshape how we think about data on the internet in the coming decades (this is where layer 2 solutions and/or altcoins come in the equation).
Cryptocurrencies are basically made with combination of two high end quantum physics technologies known as Blockchain and Cryptography. Independently both of technologies have "0" value but combination of both can make revolution in many aspects related to businesses. Both technologies are used to offer decentralized platform to track progress of transaction held within network.
Decentralized platforms can bring more accountability and transparency to many businesses. Its just beginning. Already this technology have affect on economics and finance. ANd still many industries are still in que to adopt it.
There are many ways where cryptocurrencies are useful. The main point is tokenisation of economy through cryptocurrencies .
Each coin/token has its specific use case like few below sample cases.
- StoreJ and SiaCoin - Helping world to utilise leftout free space in your harddisk through its Blockchain and monetize it.
- Bluzelle - Decentralised Database with its highly secured and scalable Blockchain.
- Golem - It is enabling users and applications to rent out unutilized resources of their single machines to even data centers.Providers can be paid in the form of GNT token.
- Recently issues BTT ( Bittorrent ) is the most useful example of tokenisation where uTorrent users can be paid for seeding with the help of BTT token.
These are few examples of how cryptocurrencies can be useful in real terms
Stop thinking of bitcoin, ethereum etc as currencies for a second. Think of them as databases that can not be tampered with by anyone. Not by the people in charge of managing the database (no one is), not by hackers, not even by governments.
What you use that database for, is entirely open. Basically anything that represents value or rights or requires trust. From car maintenance and ownership records, to real estate, intellectual property rights for anything from photos to patents, company shares, contracts,.. It has the potential to replace the trust that now requires countless companies, institutions, government regulations, mandates and licenses, who's sole purpose to exist is minimizing the risk of someone tampering with the databases that currently store these records. DMV, patent offices, stock exchanges, notaries, and yes, maybe even (central) banks. Thinking that has no value is delusional.
And before you say "Blockchain but not bitcoin", you can not have a trustless blockchain without a native asset. Blockchain without it own token is bullshit, thats simply a fancy slow database that still requires third party trust
There several billion people in the world that don't have access to banking and payment systems.
cryptocurrencies (and stablecoins) allow this with a cheat mobile phone. In the developing world, they did not have the resources to build large (landline) telephone/data networks.
Wireless technology has allow them to leap frog to the mobile system. So the same is true for the non-existing banking system. digital payments/ cryptocurrency is allowing them jump into this world of mobile peer to peer payments.
Even if the man on the street, does not have connectivity, the village store will. Getting money in and out of these developing nations has traditionally been difficult. The remittance systems has been super powered by cryptocurrency.
Decentralized and trustless
Ease of use n security. It should be regulated.
Cryptocurrency is exchangeable to word wide, it's can tradable in p2p. And exchange through blocking process which is super fast method
A good question! CryptoCurve is actually a quite interesting project that is currently undergoing an ICO (so some aspects of the project are not yet operational)
The main highlight of this project is the fact that CryptoCurve prides itself as the mother of all digital wallets that plans to make it easy for anyone to buy, trade, send, exchange and invest in ICOs and cryptocurrencies.
Technically speaking, Cryptocurve will be the official wallet under the Wanchain Blockchain, which was set up to allow for crypto pools and monitoring of cryptocurrencies based on Wanchain ledger. CryptoCurve has basically created an interoperable wallet on top Wanchain—
Wanchain is a blockchain somewhat similar to Ethereum that allow for smart contracts functionality. CryptoCurve will be the go-to wallet for the Wanchain ecosystem.
Decrentralized, and easy to send and receive money cheaply.