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Blockchain technology was the legendary creation of the anonymous cryptographer Satoshi Nakamoto. Despite Bitcoin’s immense popularity and value, nobody is none the wiser as to who was behind the innovative creation. Some analysts have pointed to a group of people, and some investigators think they narrowed it down to a select group. The truth is, nobody truly knows the origins of the coin.
Bitcoin and blockchain technology were so cutting edge because they provided a design of a secure payment system where banks were no longer necessary to facilitate the transaction. If you owned Bitcoin and wanted to send it, all you had to do was send the digital asset to another wallet directly peer-to-peer.
Users then verified this transaction on the blockchain providing a timestamp and publicly accessible ledger which showed when a user sent the payment and to which wallet. In the preliminary stages, investors used Bitcoin and cryptocurrencies to buy and sell items on the dark web.
The anonymous nature of crypto fueled negative news reports, insinuating that its only use was through purchasing illicit goods online. However, as we move forward a decade, cryptocurrency has exhibited dozens of beneficial use cases. Although the technology is still in its infancy, you can use crypto to play table games for cash, purchase goods for legitimate e-retailers, and process digital transactions.
We aren’t indicating that these are the only useful ways to use digital currency – some of the biggest investment companies in the world own Bitcoin. In addition, some of the richest men own Bitcoin. However, the likes of Elon Musk have admitted he sold most of this year during the recent crash.
It has been widely discussed as an effective technology by many banks moving toward a digital currency. Although many were initially skeptical, and rightly so, given the technology could undercut a need for them to exist for millions of customers, they have begun to warm to the power of the technology.
The digital asset space turning into a multi-trillion dollar market has inevitably brought thousands of companies into the sector. Many seek some of the enormous profits that have turned early investors into multi-millionaires.
The technology has also allowed some early cryptocurrency exchange designers and project developers to become billionaires. We will give you a brief rundown of the 5 blockchain startups to watch out for. We have sifted through the thousands out there to give you a concise collection of the main ones we think will go on to do something big in the sector.
This innovative startup is looking to provide accessibility for investors who are intrigued about entering the cryptocurrency space but don’t understand it as well as traditional finance.
The main USP of BTSE is that they guarantee highly secure protocols, cold storage of the vast majority of their assets, and no withdrawal ceiling on over one hundred cryptos and over 10 fiat currencies.
Operating in the same ilk as BTSE, Solrise facilitate a canvas in which fund managers can launch decentralized finance funds. The Solrise devs have opted for speed by launching on the Solana blockchain. In layperson’s terms, anybody can invest in funds or start one up through Solrise.
Designed with big data companies at the forefront of the project, Constellation has found a niche in the market, which they hope to hone in on. Many analysts in the space have become excited by their plans. By providing a cheap, easy-to-integrate, and scalable platform, they hope to become the go-to place to provide data integrity to companies of all sizes.
The final two startups we recommend keeping an eye on are the pick of the bunch.
TransitNet LLC is designing an original ledger to have a platform that facilitates premium security for the industry. The cutting-edge platform aims to provide security for the entire cryptocurrency market. Equating to hundreds of millions of investors and trillions of dollars of cryptocurrency.
The crux of the project is to manufacture a security platform that allows users to verify wallet information before the transaction is performed. They then store the transaction in a private document history for compliance purposes.
Essentially, they will be able to provide ownership and verification for every user on Earth. If this project takes off, it could be one of the biggest in the entire digital asset world.
With billionaire investors starting to put their money into this project, it is no surprise that this startup is on our list. Mintable uses Ethereum’s highly secure blockchain technology to allow anybody to trade NFTs.
The ultimate goal is to provide users with all the positives of proof of ownership and tracking. They have also installed an original function where you do not have to pay gas fees to mint your NFT.
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