When it comes to investment in cryptocurrency, one of the more integral points to keep an eye on are the technologies and projects that are being developed using that specific coin — or the coin’s technology.
For example, if you’re an investor in Ether or Ethereum, you’re also investing in the coin’s underlying technologies which are working to change the face of encryption, global transactions, and a tonne of other mundane-yet-integral everyday tasks.
With that in mind, if you’re an investor in Ethereum, you should always do your best to stay on top of current projects based upon your currency’s technologies, as well as the projects which may be on their way in the years ahead.
All that said, here is our list of the projects backed by Ethereum that you must keep an eye on in 2021.
The uPort App
If you know anything about Ether, you’ll know that there is an application-based type of software coming from the technology behind Ethereum, and these are being touted as Dapp’s or decentralized apps that run data along with the Ether blockchain.
The uPort application remains under development and offers users the ability to simply sign their identity to the ultra-secure blockchain technology that makes ETH possible.
These applications are essentially the backbone of the smart contracts feature that comes with Ethereum and users will be able to use this ID to sign into a myriad of different third-party applications and services.
You might be able to think of this as a means to eradicate the driver’s licenses and generic IDs of today, to replace them with an all-digital option that is always with you, is ever-secure, and unable to edited or adapted — all adding to the security and reliability of IDs across the globe.
One final thing to note is that the uPort app also works off the blockchain too, so there are both off and online use cases here.
VeChain Thor App
A second Dapp landing on our list is the logistics-friendly VeChain Thor solution which is able to service businesses out there that need a tonne of private supply chain data stored on the blockchain.
If you’re a business owner, this is going to be a game-changer in that you’re able to keep a close eye on information such as the quality and authenticity of products on a supply chain from the outset to the delivery of that specific product.
With that said, there is significant room for growth with this App in that larger companies and businesses based around authentic purchasing like high fashion, or health-based products like pharmaceutical companies can rely on the information on VeChain to ensure their products are reliable.
On top of this, a number of companies in those aforementioned fields and industries are already using these Dapps, showing that these aren’t just concepts, but rather full-fledged operable solutions for businesses.
With that in mind, this is great news for investors in Ethereum with Independent Reserve looking for the assurance that the technology behind Ether offers some value to more than just cryptocurrency investors.
The Augur Dapp
On to an investor-specific app now, and the Augur application has been developed over the past eight years to be a predictive service that can’t be skewed or altered.
This is key to the Augur ethos of being a reliable predictor for the stock market given that its reliance on the blockchain means its content and information can’t be edited or altered in any way.
When we take a look at use cases, aside from the prediction of stock and market changes, there is also a tonne of benefits here. You’ll be able to see that this type of technology could be used to report events without data manipulation and more.
For some more information on how Augur works to offer such accurate and decentralized predictive information, you can take a look at the service’s website. However, to summarise, there is a tonne of user data on the service which is collated and used to monitor and predict when and where investments will be made.
This data is entirely encrypted and thus users are more willing to share these movements, which assists in the app’s prediction data remaining up to date.
Also Read: Best Mobile Applications for Crypto Trading
The TenX Payment Service
To our final project to keep an eye on this year is the TenX payment solution.
As you’ll know, for Ether to become a true player in the world of cryptocurrency and to leak into the fiat currency’s market we’re going to need it to become effortless to use to pay for things — and that’s where TenX comes in.
Users are able to make use of TenX to buy goods and services with Ether in the same way that they would use a credit or debit card, and this is integral to getting Ethereum to becoming more widely accepted on the world stage.
The service essentially allows the linking of ETH to TenX’s own custom credit and debit cards and you’re able to make use of these cards at POS terminals.
That said, keep a close watch on this service as it might guide you to understanding whether Ether has an avenue for growth or not.