The cryptocurrency crash I mentioned not long ago could finally be here. As of this writing, Ethereum (CCC:ETC-USD) is down 16.8% over the past week, while Bitcoin (CCC:BTC-USD) is down 23%. It’s all because of tweets from a billionaire CEO – Elon Musk – who realized that BTC isn’t that “clean” after all.

Musk’s tweets seemed to have pushed us past the “peak of inflated expectations” and squarely into the “trough of disillusionment” as the media turns to cryptos and the world’s attention is focused on the usability and usefulness of crypto-based products.

But rampant speculation continues. Today, the crypto world is in turmoil with the possibility of Dogecoin (CCC:DOGE-USD) smart contracts.

While DOGE started out as a joke, bringing smart contracts to the Dogecoin platform would make it inherently useful, and speculators believe it could catapult Doge the same way smart contracts catapulted Ether.

Yes. It probably won’t.

Dogecoin Smart Contracts: we’ve been here before

OK, you are probably thinking that I am a crypto bear, and that this is the start of a long rant against all things altcoins… Far from it. I am a big supporter of innovation and cryptocurrencies – blockchain in particular – represent some of the most promising innovations of our time.

Much like the Internet before it, blockchain will fundamentally reshape the world.

It won’t happen overnight, but in the long run I’m very, very bullish on cryptocurrencies.

That said, we are starting to see the unfounded cryptocurrency bubble reach its natural conclusion – ending the same way the dot-com bubble of 2000 ended … with a huge crash.

And in 2018, the developers of Dogecoin unveiled a promising new demo, which would allow Dogecoin to connect to the Ethereum bridge, called “Dogethereum”. Done successfully, Dogethereum would allow Dogecoin to compete in the world of decentralized finance (DeFi), and its blockchain could be used for building all kinds of decentralized applications (dApps). However, Dogethereum never moved forward, as the price of Ether (which funded the development of Dogethereum) fell. Dogethereum has been postponed indefinitely.

Now that we’re on the brink of yet another cryptocurrency crash, the rumors are back.

DApps: bigger, better and already here

That said, I love the idea of ​​decentralized applications… dApps are software applications built on the blockchain. It can be any application. A video multimedia application, like YouTube. A driver-pilot application, like Uber. A music streaming app, like Spotify.

The central link is that these apps are encoded on the blockchain – and therefore, there is no central authority that ‘runs’ the app and makes money from the app, either through sales of subscriptions or digital advertising. By removing this central authority, dApps create a new generation of truly free software applications.

Often times, these dApps have underlying cryptocurrencies that are used as an in-app form of currency in dApps, or an incentive token for app developers and blockchain participants.

The appreciable value of these cryptos represents the economic value of the dApp, that is, instead of app makers making money from digital ad sales, they are making money. by owning the dApp cryptocurrency, which grows in value as more and more people use the dApp.

I firmly believe that dApps are going to disrupt everything. The future YouTube will be a dApp. The future Uber will be a dApp. The future Spotify will be a dApp.

Most, if not all, applications in the future will be dApps.

There are a few cryptos that I like in this space right now. The one that’s currently on my radar is Algorand (CCC:ALGO-USD) – a “Pure-Proof-of-Stake” (PPos) blockchain designed by Silvio Micali, a cryptography expert who won the Turing Prize.

Creating a ‘pure’ platform for dApps is not a simple matter – blockchain networks need to have a high level of scalability, security and decentralization. There aren’t too many platforms that can claim to have all three tied, but Algorand makes an enviable case.

Algorand’s protocol is made up of two layers – a layer for executing smart contracts capable of “atomic swaps” (or ultra-fast peer-to-peer crypto trading) and a second layer for executing smart contracts that can fuel them. dApps.

Additionally, its platform is much greener than Bitcoin or Ethereum Proof of Work (PoW) systems. Known as “Pure Proof-of-Stake”, it has a number of advantages over PoW-based systems, including much lower transaction confirmation fees and times. The company claims it is carbon neutral, generating only two millionths of CO2 produced by its competitors.

This could be a huge sticking point now that all eyes are on the energy efficiency of cryptocurrencies.

Conclusion on Algorand

Algorand’s platform is designed to be fast, fair, and it already has several developers building decentralized apps, including dozens of apps that are currently active.

But it’s not the only cryptocurrency with proof of stake, activated by dApp, that excites me …

The key to getting rich in the crypto market right now is to buy the good cryptocurrencies – the most technologically advanced crypto-currencies with the most value-added applications.

My team and I are currently working hard to sort through these potential cryptocurrencies and highlight the best … cryptos that will withstand the upcoming cryptocurrency crash and come out ready to soar 10X, 100X, or 1000X at the over the next two decades. . Over the coming weeks and months, we will be showcasing these cryptocurrencies at Innovation investor. But you don’t have to wait to sign up, as we currently cover the most hyper-scalable companies within the strongest emerging megatrends in the world. at present. Blockchain is only part of the picture.

To begin, find out more by clicking here.

As of the publication date, Luke Lango had (neither directly nor indirectly) any position on any of the titles mentioned in this video.

By discovering the first investments in hyper-growing industries, Luke Lango puts you on the ground floor of the megatrends that change the world. This is the theme of its first technology-focused service, Innovation Investor. To view Luke’s full line of cutting edge innovative titles, become an Innovation Investor subscriber today.