There is no doubt the blockchain industry is rapidly growing in popularity and trading cryptocurrencies has become more accessible than ever before. This is due to more and more brokerage firms allowing investors to trade their favorite cryptocurrencies alongside other investments and due to more apps and platforms getting launched every year for people to use.
This had made the blockchain industry very lucrative and provides a great opportunity for entrepreneurs to get creative and come up with their own idea for a new venture. Apps are an extremely popular choice for new ventures due to their accessibility from people’s mobile phones and tablets. In this article, we take you through our top 5 app ideas for 2022.
Crypto Wallet App
Cryptocurrency wallets exist to allow traders to store and secure their currencies and are an essential part of owning and trading crypto. They can either be hot wallets, which are online wallets and cold wallets, which are offline. Popular online exchanges such as Coinbase and Binance have wallets you can store your assets on although they come with less security and more risk than other alternatives that are dedicated wallets rather than an exchange.
Traders are always rightly concerned about the security of their cryptocurrencies and this means apps that contain online wallets that are secure and safe have become very popular and a good venture choice for entrepreneurs.
Cryptocurrency News App
Crypto fans like to stay up to date with everything that is happening in the market including breaking industry news as well as trading news and project updates. This allows traders to stay on top of the overall sentiment of the market and know what is going on behind the scenes of their favorite crypto projects. This means there is a high demand for apps that allows people to easily access news wherever they are on their mobile phones.
Portfolio Tracker App
Did you know that 49% of traders check their portfolio at least once a day? This means there is a huge demand for high-quality apps that allow traders to easily track the progress of their investments on the go using their mobile phones. The trader can enter all their investment details and then the app would provide a variety of useful statistics that communicate what is doing well, what may not be doing so well and even identify future trading opportunities.
Decentralised Social Media
Unlike popular social media platforms including Facebook and Instagram, decentralised social platforms aim to put the user first and focus on user freedom. It has been tipped as the future of social media and now could be the best time to jump on board the emerging trend. Put simply, decentralised social media networks run on independent servers rather than being owned and run by a business. This means users have more control over the content they see and how their profile operates.
NFT Marketplace
NFT’s (non-fungible tokens) have certainly hit the world by storm in 2021. They are digital assets such as images, videos or audio clips that are stored on a blockchain. An NFT marketplace is somewhere people can buy and sell NFTs using cryptocurrencies. This is a booming sector making it a great choice for a new business idea. By developing an app that brings together artists, creators and NFT enthusiasts you could become the go-to place to buy and sell a range of NFTs or a specific type of NFTs.
Hopefully, you now have some inspiration for 5 great app ideas you can start implementing in 2022. The first step would be to write a comprehensive business plan outlining your idea along with costs and timescales. You can take this idea to reputable app developers like AppTailors, to design and develop and bring your idea to life.
-
Episode One
In Episode One we discuss the question: What is Cryptocurrency?
-
Episode Two
In Episode Two of Cryptopulse we discusses the pros and cons of buying Bitcoin.
-
What is Litecoin?
WHAT IS LITECOIN?
Lіtесоіn (LTC оr Ł [1]) is a рееr-tо-рееr сrурtосurrеnсу аnd open ѕоurсе software project released under MIT/X11 lісеnѕеѕ. Crеаtіоn аnd transfer оf соіnѕ іѕ bаѕеd on an ореn-source сrурtоgrарhіс рrоtосоl and іѕ nоt mаnаgеd bу аnу сеntrаl authority. Whіlе inspired bу, and in mоѕt regards technically almost іdеntісаl tо Bіtсоіn (BTC), Litecoin іѕ far quісkеr аnd cheaper.
At the time of writing this article (2nd Jan 2018), Litecoin sits at $254 per coin.
How much is Litecoin worth?
On December 18th 2017, Litecoin reached its all-time high, $360.93, which, when compared to the price one year before ($4.40), was an incredible 8200% rise. This is wholly reflective of a booming cryptocurrency marketplace, whose total market cap ballooned from $17.7bn to around $650bn in just one year, an increase of over 3,600%.
Where can Litecoin be used?
Litecoin is frequently compared to Bitcoin, which functions almost exactly the same, aside from the cost of transactions, which are around 1/50th of the size. For many cryptocurrency traders and users, Litecoin pricing acts more rationally than Bitcoin, and with a more sustainable future.
As we see some online stores begin to accept cryptocurrencies, we will see it possible to buy jewelry, groceries, clothes, electronics and more. Since the value of Litecoin is determined by demand on currency trading websites like Bittrex, Binance, GDAX, and Coinbase, it is possible to envision an online shopping platform where the price of products constantly changes to reflect the value of the accepted coins.
As well as trading and purchasing, it is possible to mine this crypto, though this is a very technical activity and requires a decent amount of computer knowledge. A good computer is enough to mine coins very slowly, but a serious miner would use processing units that rapidly solve mathematical equations that support the blockchain.
Trading Litecoin
The rise in popularity of Litecoin and other cryptocurrencies is largely in response to the demand for alternative currency options that separate themselves from centralised banks and governments. The other side of the demand is from traders and investors who have realized the massive potential that cryptocurrencies have to offer, and so many stock and forex traders have changed market (remember, the market grew from $17.7bn to $650bn in one year). Cryptocurrency is arguably easier to enter for traders, meaning that in 2017, millions of beginners, as well as seasoned traders, began buying and selling different coins.
Litecoin as a worldwide tool
Litecoins can be used anywhere (though illegally in some nations), by anyone. The fees experience by Litecoin users are lower than those of credit card companies and bank transfers. As an example, one person in France can send a payment to someone in China in seconds, with both parties receiving proof of the transaction (which will be stored on the blockchain). Litecoin was designed to enable quick and cheap payments that are as simple as sending an email.
How many Litecoin are there?
There can only ever be 84 million Litecoins, and as it stands, 55.58 million have been released or mined already, meaning almost 30 million coins are still fair game for miners. The figure of 84 million was based on the 21 million limit of Bitcoin, and the fact that Litecoin was designed to be 4x faster than Bitcoin.
A fixed amount of coins also means that inflation will not affect the overall value of the currency, unlike currencies such as the dollar, pound or euro. For forex traders who feel that a currency might drop in value, they may purchase Litecoins and hold on to their investment before selling back into their currency (hopefully at a profit). External influences (such as governments) can manipulate the value of their currency through inflation and quantitative easing, but the same cannot be done with Litecoin, making it more sustainable long term.
Who created Litecoin?
Litecoin was created by Charlie Lee in October 2011. Lee is a former employee of Google, who designed it to complement Bitcoin by solving some of its issues, like transaction times, fees, and concentrated mining pools. Charlie Lee took the core code from Bitcoin and made his modifications to the code and protocol to work in a way that he felt would best allow for the large-scale adoption of the currency.
One of the main goals was to reduce block confirmation timings from 10 minutes to 2.5 minutes, so that more transactions could be confirmed. This made Litecoin 4x faster than Bitcoin. Each 2.5 minutes, a Litecoin block is mined, and 25 coins are generated. This means that at the moment, 14,400 Litecoins are being mined every day, the maximum amount possible.
Conclusion
Litecoin has so much scope for growth, potential uses, and wide adoption. Right now, we must observe which companies begin adopting it and accepting transactions for their products and services. Other than that, the future of Litecoin is anyone’s guess.
