Monero (XMR) has shown its usefulness in terms of transactions while Vechain (VET) is proving to be the blockchain of choice in the freight industry.
The opening days of 2019 has seen some improvements in the value of cryptocurrencies after the latest slump in December. The New Year has brought optimism within the crypto community as many coins are expected to release new updates and testnet in the first quarter of the year.
One area which is unlikely to change is the anonymous coin sector, where Monero (XMR) leads the pack alongside VeChain (VET). Both coins have been labelled by hodlers as potential solutions to secure and anonymous transactions in 2019.
Monero is infamous for its near impossible untraceable transactions currently lying 14th in terms of market cap, the coin shows no signs of slowing down in terms of usage. It employs ring signatures and stealth addresses which protects transactions and prevents tracking of users IP addresses.
Although the coin has been plagued by claims of criminals utilizing the coin for ransom demands, Monero continues to prove that anonymous payments could be the future of cryptocurrency.
Monero (XMR) could prove vital for transactions in the face of difficult security conditions
The surveillance of citizens information’s by several governments have increased in the past few years which has brought about the crackdown on activists and reduced freedom of information. Monero is an ideal coin for activists in such countries to use for transactions due to its strict privacy features.
Furthermore. the rate of hacking and cybercrime has increased in the turn of the century leading to high risks of personal financial details being exposed. Monero is ideal for investors that want to keep transactions safe from snoops and hacks.
Monero (XMR) has rolled out updates to tackle the issue of scalability
One major flaw when analyst talk about the coin is the lack of scalability which is as a result of its emphasis on privacy. Monero has taken this issue seriously and has continued to release updates and implement state of the art technology to improve scalability.
Monero boasts of over 100 developers constantly seeking to improve the transaction process. The latest upgrade was a success and improved the speed, privacy features of the digi coin.
Monero has been touted by crypto analysts as a top coin with the capacity to dislodge Bitcoin at the top of the pile in the coming years.
VeChain a potential solution to counterfeiting in the trade market
One major problem issue in global trade is largely the problem of counterfeits. Many developing countries have developed lopsided economies due to weak regulations and inadequate response to counterfeiting.
Vechain has emerged as a plausible block chain solution for this problem facing global trade with its features. several companies have begun to employ the use of its unique RFID technology to track products within the supply chain.
This technology is developed in a way that the movements of all products scanned with the technology can be tracked across the world. furthermore, retailers and consumers can verify the authenticity of the products through the use of the Vechain blockchain.
This novel system would drastically reduce the number of counterfeits of the particular product in the global supply chain. Vechain has developed its blockchain protocols over the past year to counter the problem of large scale usability.
Vechain has partnerships with top organisations
The blockchain company is also a secure blockchain, whereby transactions can be processed from one end to another without exposing the user’s information. Vechain has also gained a reputation over the years as a stable coin with its number of partnerships.
The token has made several big partnerships with companies such as Renault, in which it developed a digital car maintenance booklet. China has also implemented Vechain blockchain solutions to help its population verify parcels in a transparent way.
These partnerships show that Vechain is positioning itself on its way to global adoption. The VeChain Foundation also has a reputable panel of industry experts that monitors the blockchain project. It is quite plausible that Vechain would attain the $1 mark at some point in 2019.
In conclusion, the developers of Monero and Vechain have shown the technical and operation know-how which could put the respective coins at the top of the pile in 2019.