New cryptocurrency projects sprang up like mushrooms in recent years. Many of those projects have now been declared dead, but some have established themselves among the big boys.
The Netherlands is not really known for its cryptocurrency projects yet, but development is also taking place in the Netherlands. None of these projects have made it far yet, but the three projects discussed below seem to have the most potential to become big. These are also the three largest Dutch crypto projects to date.
Note: No advice is given in this article. It talks about growth potential and investment risk, but that does not mean it recommends investing. Investing in cryptocurrencies is always very risky.
BitCanna (BCNA) is a decentralised payment network designed specifically for the cannabis industry. This industry struggles with old-fashioned regulations, limiting payment options for customers and businesses. BitCanna strives to legitimise this developing industry and, to that end, offers unbiased secure transactions via desktop and mobile.
BitCanna runs on a proof-of-stake (PoS) blockchain, which means you can stake the BCNA token (and thus earn interest). Thus, the BCNA token is meant to pay with and stake..
BitCanna's trading volume is low and its total market capitalisation is also small. Also, the idea of BitCanna may already be a bit outdated, as projects that only focus on one specific sector seem a bit of a thing of the past. So all in all, BitCanna is a risky investment, but because of its low market capitalisation, it is also an investment with great growth potential.
2. LTO Network
LTO Network has established itself as Europe's leading blockchain with strong use cases. It is based on B2B business solutions such as decentralised workflows, data & document verification and authentication. In 2021, LTO Network's COBALT mainnet update extended this solid foundation with the addition of Decentralised Identifiers (DID) and Verifiable Credentials (VC), putting LTO Network on track to become a true layer-1 blockchain.
In turn, Decentralised Identifiers and Verifiable Credentials are at the core of LTO Network's latest focus; NFT2.0 technology, where people truly own and manage their NFTs in a decentralised manner.
By using the hybrid (2-layer) approach, LTO Network is inherently GDPR compliant. This ensures easy compliance for businesses around the world with ever-increasing privacy laws. As a result, LTO Network enables developers and enterprises to build Privacy Aware Decentralised Apps (PADA) and offers many unique opportunities for projects to explore.
LTO Network ranks number 2 among the Netherlands' largest cryptocurrency projects, but is also much larger than spot number 3 (or BitCanna). LTO Network's trading volume and market capitalisation are both more than 10x that of BitCanna. Also, LTO Network's idea seems more all-encompassing. Therefore, while LTO Network is a less risky investment than BitCanna, its growth potential is also lower.
1. Dusk Network
Dusk Network describes itself as a blockchain for programmable and confidential securities, powered by Zero-Knowledge proofs and a new Private PoS leader extraction-based consensus protocol. Dusk Network is a privacy blockchain for financial applications. It is a layer-1 blockchain that powers the Confidential Security Contract (XSC) standard and supports native confidential smart contracts.
Dusk Network addresses the requirements and needs of financial markets. Central to its design are scalable public infrastructure, instant transaction settlement and strict data privacy.
Dusk Network is very similar to LTO Network in terms of market capitalisation and trading volume, but just slightly larger. Both are blockchain initiatives that respond and innovate based on real-world needs. Because Dusk Network and LTO Network are so similar in terms of size, it can be said that both are equally risky investments with equal growth potential.