For the first 5 years since Bitcoin was introduced, it was the most dominant and largely unchallenged cryptocurrency in the market. The interdiction of Ethereum in 2015 however challenged this and later Ripple also became a sensation in a short period of time. Bitcoin, Ethereum, and Ripple have subsequently become the top three cryptocurrencies in the market until now. EOS has also generated a lot of interest from the community after its record-breaking ICO that saw it raise millions in order to compete with Ethereum as a platform for building decentralized applications. However, there seems to be a new contender, Goldrium which is expected to make the top 4 cryptocurrencies in the market because of its unique features and even challenge the likes of Bitcoin, Ethereum, EOS, and Ripple. Let us compare all these 4 cryptocurrencies in terms of important aspects such as scalability, speed, a unique building of ICO capabilities and PCI compliance.
Scalability and speed
Both Bitcoin and Ethereum are facing scaling challenges as they seek ways to increase processing speeds and ability to handle many transactions, at the moment, Bitcoin can handle about 10 transactions per second while Ethereum is about 15 per second. Ripple has a big advantage with the ability to process up to 1500 transactions per second. EOS platform also promises to process over a thousand transactions per second when the platform is fully built.
Goldrium is expected to surpass all these and process up to 100,000 transactions per second making it the most effective in the market. Furthermore, whereas other cryptocurrencies face challenges in confirmation times, Goldrium’s instant conformations make it the best in the market. Arguably with such kind of speed, scalability will not be a problem and it could become the currency of choice for undertaking commerce globally.
Unique building ICO capabilities
The way Bitcoin is built is such that its programming language cannot allow building any other applications on top of it. Bitcoin in its current form can therefore only be used as a means of payment and store of value. On the other hand, Ethereum allows for the building of decentralized apps on the platform. Individuals can, therefore, launch ICOs on the Ethereum platform. EOS is also seeking to build on improvements of Ethereum but the platform has not been built yet. However, it promises a blockchain architecture that is designed to enable building decentralized applications that enable vertical and horizontal scaling.
Goldrium seeks to improve on ICO building capabilities and give individuals a better platform for launching ICOs. Unlike Ethereum and EOS, Goldrium has cutting edge ICO capabilities that enable the creation of an ICO within a few minutes with only a few clicks on the Goldrium website. First, it uses SCRYPT algorithm which is stronger and less susceptible to attacks. The current systems have undergone many attacks when launching ICOs which has led to a bad reputation of ICOs. Even better, for Goldrium, new APIs are automatically generated for the new token. Whereas Ethereum is facing challenges in enabling the building of native tokens, Goldrium takes it to the next level by facilitating the building of own ecosystem in an efficient and cost-effective manner that has not been seen before.
One of the most important compliance requirements that enable companies to process payments is PCI compliance. With PCI compliance companies adhere to standards of ensuring a safe way of accepting, processing and storing credit card information for clients in a safe and secure environment. By nature, the majority of cryptocurrencies have not complied with PCI regulations because they seek to by-pass credit card companies. However, the nature of the current market is such that in order to gain mass appeal, enabling easy, fast and safe credit card processing is crucial in gaining growth in the market. Bitcoin, EOS, and Ethereum do not have PCI compliance. However, Goldrium seems to have anticipated the market need and has PCI compliance being among the only cryptocurrencies to do so. What this means for Goldrium is that it will be easy to abide by KYC and AML laws and provide a much-needed gateway for payment card industry to enter the cryptocurrency world.