brytfmonline

Complete News World

Top 3 cryptocurrencies with the possibility to climb

Top 3 cryptocurrencies with the possibility to climb

Cryptocurrency market cycles are reflected in Bitcoin, which was the first truly decentralized cryptocurrency to be created. Thanks to Bitcoin, other digital currencies were born, called altcoins.

We are currently going through the largest bullish cycle in terms of time compared to previous cycles. Let’s take a look at the most promising altcoins for years to come. It is part of the third generation of cryptocurrencies, being the first generation Bitcoin and the second generation Ethereum.

Solana

Solana has a platform similar to Ethereum, which allows building decentralized applications (Dapps), NFTs, games, and more. Sol.

Launched in March 2020, it uses Solana as a consensus protocol Proof of History (PoH), distinguishes it from Proof of Stake (PoS) as ETH 2.0 (in transition) or Proof of Work (PoW) because it uses Bitcoin.

Earlier this year, SOL traded around $3.5, today it’s $255, an increase of 7185% in less than a year.

The interesting thing about Solana is that in addition to running on several groups such as Decentralized Finance (DeFi), it is very present in gaming, one of which is the most famous. star atlas, a metaverso A virtual NFT game created within Solana, the game will only be released in 2022, which could have a huge impact on the price of SOL for the coming months.

Although very new to the market and still has a lot to build and improve, Solana has a great future ahead, especially for its applications.

Polkadot (DOT)

Polkadot contains individual blockchains called parachains and a main blockchain called Relay Chain, with the goal of exchanging information very easily and thus being able to develop more powerful services and applications.

See also  The European Medicines Agency announces its decision on a vaccine Tuesday - Executive Digest

Launched in 2020, the consensus system used is NPoS (Nominated Proof of Stake), which is similar in many respects to PoS (Proof of Stake), a mechanism used by cryptocurrencies like Cardano.

Earlier this year, the DOT cryptocurrency traded for about $10, and now in November, just a few days ago, it reached $56, a 460% increase in less than a year, and today it ranks eighth. Highest market capitalization, $49 billion.

Despite the short time on the market, it is promising, and it is definitely a project worth pursuing in the long run, applications will appear more and more and this will be an increase in usability, but in price.

Cardano (ADA)

Cardano has a platform based on smart contracts, and allows the development of dApps (Decentralized Applications), as each platform has its own token, in this case ADA.

Launched in 2017 by Charles Hoskinson, co-founder of Ethereum and BitShares, the cryptocurrency is used as a consensus protocol. PoS (Proof of Stake), which is an English term that means proof of participation.

In the year of launch, it cost a cent, approximately 0.02 US cents and reached 0.6 US cents in December at the end of 2017, but its highest price was in January 2018, breaking a record $1.32. .

In January of this year, There is It was traded at $0.35 and reached $3 in September, increasing its value by nearly 1000% in just 9 months, and reaching a market capitalization of around $95 billion.

Today, Cardano (ADA) is trading at around $2, and has the sixth largest market capitalization, with a total market capitalization of $65 billion, according to CoinMarketCap.

See also  Mirandella. Multinational offers qualified job opportunities, has no candidates

Many are betting on Cardano, and for sure once you run the apps inside it, it will have a much higher rating, and it’s good to have in the wallet for the long term.

competitors?

Despite all of them emerging as competitors to Ethereum, the second largest cryptocurrency by market cap and usability, they can be very good alternatives in terms of scalability and transaction fees.

Sure, Ethereum is already integrated into the market, but that does not mean that people in the future will not choose better alternatives, such as those promising these altcoins.