Since the appearance of the bitocoin when that great recession occurred during the years 2008 to the present day, much firewood has been cut. Dozens of projects have been born and expired during this time. Some successful, others doomed to failure. Some satirical, and others completely useless. As users and investors, we are pioneers of a very possible new global economy, and as such, we must behave wisely; remembering the primitive principles that have originated the birth of this technological trend.
Because cryptocurrencies, like any solution, have been created in response to different problems. However, we must also emphasize the fact that these solutions are still in constant development and evolution, having created some additional problems, with their respective challenges during all this time. These are some of those challenges and objectives that every cryptocurrency should pursue:
Decentralization: One of the main ideals behind bitcoin, was to be a safeguard of totally decentralized value. This goal was achieved, however the concept is misleading, since the vast majority of times we send and receive our coins in centralized sites and companies, staying with a certain ironic discouragement. Luckily, the picture is changing, thanks to the increasingly numerous and polished decentralized exchange houses.
Privacy and anonymity: More and more exchange houses that reduce the requirements of personal information for their users. If the user does not work with fiat, such a need for personal information becomes unnecessary, tedious, and even alarming. And with respect to anonymity; Every user has the right to this. Especially in countries with restrictive and dictatorial laws.
Speed: This is a section in which the majority of cryptocurrency meets expectations one more than others, but each one competing to be the first. Among them we have LTC (litecoin), DASH, XRP (Ripple) and BCH (Bitcoin Cash) among others.
Utility: Last but not least, there is the issue of utility. Utility can be translated into services or products offered, technical characteristics, solutions to problems in an industry, among others. This is a good way to identify a successful project when investing in an ICO. You also have to know which projects use the blockchain as an excuse for cutting-edge technology, and which are really interested in using this technology to the fullest, and take advantage of all its advantages.
