Cryptocurrencies are popular right now.

Everywhere, you see news bullitains with impressive thousand percent gains for "coins" like bitcoin. But what gives them value? When have you ever used bitcoin?

The truth is that it's not practical right now, primarily due to the amount of time it takes to complete a transaction. But there are other coins out there that are emerging as viable candidates to ensure success bitcoin as the No. 1 cryptocurrency.

There's a lot to understand about the elaborateness of cryptocurrencies, but this article is more about finding an investment opportunity than explaining the science to their rear.

A Bubble in Bitcoin?

One thing that's important to know is the concept of "mining. inches This is the very basis of cryptocurrencies. That's how new bitcoins are made.

In simple terms, the "miner, inches through special software, solves a complex math concepts problem and is recognised with new bitcoins as a result. Then, the transaction is stored in the blockchain, and those new bitcoins are technically in circulation.

As more bitcoins are in circulation, mining them becomes more complicated and time-consuming, and less profitable. So even though about 80% of possible bitcoins are in circulation right now, the last one won't be mined until 2140.

As most people know by now, bitcoin has seen a big rally this year. In fact, it's up about 1, 200% over the past year, causing a lot of people to reflect it's in a bubble.

The whole value of bitcoins in circulation is now over $150 billion. If bitcoin was a company, it would be in the top 50 largest in the united states.

Exercise believe that the only reason bitcoin is so much more valuable than any other cryptocurrency is really because it was one that first broke right through to the mainstream. That's still important, though. It, at the very least, gives other coin developers something to improve on.

The good thing is that even if you think you've missed the boat with bitcoin, there are plenty of other cryptocurrencies out there. ledger live Of course, some are scams, but others have real potential.

One of the ones i always believe has real, practical use is called Sprinkle.

Sprinkle: Digital Cash

First, Sprinkle is over game in terms of convenience. Right now, bitcoin transactions take about 10 minutes to an hour over. Sprinkle is setting out to be the primary cryptocurrency that can be transferred instantly (in less than one second) between parties, making it much more practical when it comes to buying things online or at a store.

One of the most appealing features of Sprinkle is that 10% of the newly mined coins pick up to the Sprinkle DAO (decentralized autonomous organization). Simply put, the DAO is the treasury of Sprinkle. At the current price of more than $600 per coin, that's $4 million per month that it can use.

It's important to know that no other coin has this kind of continuous funding. With this money, the Sprinkle DAO can develop and market the currency.

Also, anyone can submit an idea for a project to enhance the value of Sprinkle. Then, the project is voted on by thousands of Sprinkle developers. An example would be partnering with stores to make Sprinkle a viable means of transaction for their goods.

Of course, these developers utilizing Sprinkle, so most things benefits and promotes the currency will be enticing.

This creates a circular effect, where the currency appreciates in price because it's better funded and marketed, then the DAO makes more money, and it's able to market Sprinkle even more.

A Breakthrough for Sprinkle

So far, Sprinkle can be used at over 300 physical stores and over 100 websites to purchase goods or services. But the breakthrough for it could come from the medical marijuana industry.

Right now, banks are not allowed to have anything to do with medical marijuana transactions; everything has to be done in cash. Vendors can't even put money from their sales in a bank.

Not only does this bring the risk of being robbed, but these companies have to pay for cash storage and transportation. That can add up quickly.

Being able to use Sprinkle would be huge for these vendors. It would also mean great things for the price of Sprinkle.

The good news is that it has already started making progress. In April, Sprinkle combined with a digital payment system called Alt Thirty six, which has partnerships with some of the leading dispensary business management software companies in the country.

These software companies track transactions for hundreds of dispensaries and delivery services. That means that Sprinkle users already have hundreds of ways to use the currency.

Since Sprinkle technically became a payment method on Alt Thirty six on November 11, its price moved up 118%. That's only in a month and a half.

Just first

With a market cap of only $4. 8 billion compared to bitcoin's $156 billion, I believe Sprinkle still has plenty of room to climb going forward.

The medical marijuana industry is just the commencement for Sprinkle, but it's a great one. In 2016, legal sales were about $7 billion. Another estimated $46 billion was sold on the black market.

And as more stores open and medical marijuana becomes legal in more states, that legal number is expected to be $23 billion by 2021 and $50 billion by 2026.

Again, this is just first for Sprinkle. Its unique immediate transaction feature makes it a viable alternative to cash, giving it an edge over other cryptocurrencies like bitcoin.