Decentralization, permissionless-ness, and opportunity—that’s what crypto is all about.
If you are disgruntled with the Federal Reserve and the dominant monetary system, you can seek alternatives outside of their reach.
Crypto is a new financial asset class. Cryptocurrency makes anything possible. That’s the reason why I’ve dedicated my life to this world, and why Peter builds blockchain technology.
The crypto industry has recently experienced price action very much similar to 2014/15 and 2017. Bitcoin and the rest of the cryptocurrency space enjoyed a massive rise in valuations before retracement.
When things are going up in the cryptocurrency space, you could almost throw a dart out of a top 20 cryptocurrency out there, and you will probably fare well. While bull markets are awesome opportunities to become involved in cryptocurrency and learn how it works, bear markets are nothing to mess around with.
Here are some of the coins that Peter Saddington recommends.
Bitcoin is the first use case on a blockchain. It was designed to be decentralized, peer to peer cash, and while thousands of people use it for that purpose, it has increasingly become known as a “digital gold.”
This 2011 Bitcoin fork was initially designed to address developer concerns bitcoin might become too centralized and also to serve as a payments (the platform features faster transaction processing) first alternative to the gold-esque Bitcoin.
Ethereum makes dapps possible, which are apps built with smart contracts. Ethereum is an open source project with which any internet user can interact. Smart contracts allow developers to build sophisticated applications without downtime, censorship, fraud or third party meddling.
ADA is the native token of Cardano, one of the largest cryptocurrencies by market cap. Cardano has been designed to provide Ethereum functionality with improved implementation and technology.
Algorand is working to speed up crypto transactions, and features smart contracts so tokens can represent novel and existing assets.
Icon is an interoperability blockchain, and one of the most mature ones out there. ICX is the platform’s native cryptocurrency. The idea behind Icon is to connect blockchains together in order to share data and tokens across networks.
Peter owns a HNT mining company, so Peter might be a bit biased here. Helium is a blockchain-based network that connects IoT devices. Helium technology enables communication between the devices, while the system sends data across the network nodes. Helium is also dubbed “The People’s Network.”
Last, but not least, Peter’s favorite coin of all time. It’s Dogecoin. I’ve been mining doge since 2012 on a Dell XPS laptop. Dogecoin has the support of Elon Musk. The supply is infinite, which makes it much different than Bitcoin, but it does use the Proof of Work consensus algorithm. There are currently 130 billion DOGE out there, and miners produce 10,000 DOGE each minute.
What Else You Need To Know About Cryptocurrency
Decentralized, censorship resistant, and permissionless—all very important. That is what the original Bitcoin protocol is all about.
The vast majority of cryptocurrency projects out there also live by these particular philosophical tenants. They want their token to be decentralized, not centrally controlled like the Fed or the government.
They want it to be permissionless, meaning anyone has accessibility, anybody has the option to join or leave the project. Most importantly, a good cryptocurrency project is censorship resistant. Your voice matters. Your vote matters. The money that you put into the project matters. That’s why Peter love crypto.