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The actual use case of each cryptocurrency **not of the project**, which coins will have actual demand in the future versus just speculation - please help set the record straight

The actual use case of each cryptocurrency **not of the project**, which coins will have actual demand in the future versus just speculation - please help set the record straight

All Cryptocurrencies

by COINS NEWS 54 Views

With your help I'm hoping to put together a thread on how each cryptocurrency is actually being used on a day to day basis. Instead of what the projects / currencies ambitions and goals are which is quite a big misconception when people think about the respective cryptocurrencies imo.

For example: EOS (coins) won't facilitate the creation of amazing decentralized apps plus enable super fast transactions with no fees on the EOS network, the platform has that goal. The coin itself is purely for developers to enable them to create these apps. So the demand for EOS relies solely on a lot of developers creating these dApps on EOS platform. If one particular dApp from EOS platform gets massively popular and changes the world. In its current form this app won't increase the demand of EOS besides pure speculation of the app being amazing and made on EOS platform. The EOS coins are irrelevant for the app and users (unless developer incorporates it somehow to create demand) And for investment purposes that distinction of the platform and cryptocurrency is crucial to see if the demand will be driven by just speculation or actual demand.

To predict the future demand and potential of each cryptocurrency the actual use of the coin/token itself is crucial. We all know the projects behind it can be very revolutionary but the coin/token use inside these projects is sometimes overlooked and that's where I hope this thread will come in.

I'll be updating the post with your comments and my own research, so feel free to help me edit and improve this overview. See it as an WIP. I might be wrong or perhaps not 100% correct but hopefully together we can create a thread that is actually showing what the cryptocurrencies are used for

  1. Bitcoin - is a digital currency and aims replace/improve money in it's current form. Currently it's used more frequently used as a store of value.
  2. ‎Ethereum/Ether - is used by application developers to pay for transaction fees and services on the Ethereum network.
  3. ‎XRP - aims to facilitate global transactions by it being bought and sold by banks/organizations within a split second and at a fraction of the cost of the current system.
  4. ‎Litecoin - is a digital currency and aims to replace/improve money in it's current form.
  5. ‎EOS - is used to allow a developer to be eligible to use network resources and to build and run dApps. The developer simply needs to hold EOS coins, instead of spending them.
  6. ‎Bitcoin Cash - ...
  7. ‎Tether - ...
  8. ‎Tron - ...
  9. ‎Stellar - ...
  10. ‎Binance Coin - is used to pay transaction fees when buying / selling cryptocurrencies on Binance
  11. ‎Bitcoin SV - ...
  12. ‎Cardona - ...
  13. ‎Monero - ...
  14. ‎IOTA - aims to be a currency in an Internet of Things / IOTA based society/network. IOTA would be used as a currency for the different devices to pay each other when all devices are connected and communicating with each other.
  15. .....
  16. ..... Etc Etc
submitted by /u/Nalbandian1990
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