Best Altcoins that will be Unstoppable in 2022
2021 was a big year for the crypto industry. It expanded at an alarming rate. This gave rise to newer alternative cryptocurrencies other than Bitcoin. While Bitcoin still remains the most popular choice, there are a few other coins, called altcoins, that are giving it a run for its money.
These altcoins are showing no signs of slowing down with an ever-growing number of people gaining interest in them. We will now talk about a few alternate currencies that you should keep on your radar in 2022 as a profitable option.options
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After Bitcoin, Ethereum is the next most popular cryptocurrency now. Ethereum is Bitcoin’s biggest competitor, even though the two currencies are vastly different in many ways.
For starters, Ethereum has a network that is popular for decentralized applications (dApps). One example of a dApp is a smart contract. Smart contracts allow two parties to carry out transactions without the need for an intermediary.
Many Defi and NFT projects also make use of Ethereum.
But that is not all!
Ethereum is in the process of changing from the proof of work (PoW) to the proof of stake (PoS) protocol. With PoW, heavy-duty computers verify transactions in the normal way: by solving a complex puzzle.
Further reading: What Is FinTech In Simple Terms?
Solana is a relatively new cryptocurrency. It was launched in 2017 and has already proven to be of significance in the crypto world, so much so that its price increased by more than 11,000% in the previous year alone!
The biggest reason why Solana is only going to grow in popularity in 2022 is its speed. At the moment, Bitcoin can process up to seven transactions per second. On the other hand, Solana can handle up to 65,000 transactions per second.
Similar to Ethereum, the Solana cryptocurrency can also be used in dApps, NFT and DeFi projects.
Nevertheless, Solana is still riskier than Bitcoin. It uses the proof of history protocol, which is not something many cryptocurrencies use. This factor also makes it more prone to attacks.
Polygon is an India-based cryptocurrency. The reason why Polygon was created was to make transactions on the Ethereum blockchain cheaper and faster. Anyone who has used Ethereum knows how important these two factors are.
Polygon is by far the most popular place for dApps. It effectively helps to reduce the costs of existing projects. Moreover, it solves issues with network congestion.
Growing at a fast rate, Polygon’s price increased by over 13,000% in a matter of months in 2021. It shows a lot of promise and could prove to be a reasonable investment for many people.
4. Cardano (ADA)
One of the co-founders of Ethereum created another cryptocurrency called Cardano. He designed Cardano to fill the gaps that other cryptocurrencies have failed to do so.
For example, Cardano uses the PoS system. This makes it significantly faster and more efficient than other popular crypto platforms. Owing to its speed, it can process 250 transactions every second.
But there’s more to Cardano.
Its upcoming update, Hydra, could increase the number of transactions to 1 million per second!
Stellar has been making a name for itself over the last year. It has proven to be a strong cryptocurrency and there are many reasons why it should be on your watch list for 2022.
Thanks to its impressive speed, the Stellar blockchain can handle up to 1,000 to 5,000 transactions per second.
In addition to this, Stellar’s blockchain has an inbuilt KYC feature. What this means is that anyone looking to build assets on Stellar’s platform can run a background check on its users.
Plus, Stellar has smart contract capabilities. So, investors can launch tokens and build assets on its decentralized blockchain.
One of the most important factors in Stellar’s growth is that it is available on multiple exchanges. The more exchanges a cryptocurrency is listed in, the more investors and firms have access to it. Coupling this with Stellar’s security and speed makes it a great investment option for 2022.
Avalanche is among the world’s top 12 cryptocurrencies, according to CoinMarketCap’s rankings.
In 2021, it grew by an enormous 3,350%, and it is only going to get stronger.
Similar to Solana, Avalanche is a popular alternative to Ethereum. In fact, it is beating Solana to the punch when it comes to dAPPs revenue.
Not only that, but Avalanche is also significantly faster than Solana in one key area. The time it takes for the Avalanche network to irreversibly add a transaction to the blockchain is less than two seconds. This is the fastest speed of any blockchain network that supports smart contracts.
Last year, the accounting firm Deloitte announced its partnership with Avalanche. They selected the Avalanche blockchain to develop their disaster-recovery platform. This promotion by Deloitte has added to Avalanche’s popularity, making even more developers choose it.
Litecoin is predicted by analysts to do well in 2022, and that is for a good reason: It is currently ranked 17th most popular cryptocurrency, with a market capitalization of $13.8 billion.
Litecoin closely resembles other major cryptocurrencies, such as Bitcoin and Ethereum.
Since its inception in 2011, it has come a long way and this year, it is expected to gain special momentum.
Recently, Litecoin announced that it had joined with VISA to issue a Litecoin debit card. This would allow users to convert their Litecoin balance at the time of purchase with a merchant. So, all you have to do is fund your Litecoin Visa card and it will be your very own secured debit card.
The card is set to be versatile, allowing other cryptocurrencies, such as Bitcoin and Ethereum, to be added as balance too.
This feature would likely reshape the financial world as it will be developed within the DeFi universe.
A Decentralized Autonomous Organization (DAO) allows a community of people with voting rights to group together and achieve a shared goal.
Think about it. You can essentially organize with other people around the world and establish your own rules… without needing to know each other. Sounds too good to be true, right?
DAOs are making this a possibility and aim to create a safer environment for internet users to start social organizations for causes they care about.
Bitcoin is considered to be the first fully functional DAO as the currency functions autonomously, with rules enforced by a consensual protocol among its users.
What makes DAOs such a lucrative investment is the way financial transactions are carried out on them. These transactions are recorded on a blockchain, which eliminates the need to involve a third or central party.
Further reading: What Makes A DAO Successful?
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Bitcoin still remains the most famous cryptocurrency on the market, and for good reason. Undoubtedly, it comes with its fair share of advantages.
However, many altcoins are emerging as considerable competition to Bitcoin. The alternative currencies mentioned in this article are quickly becoming powerhouses in the crypto world, and they all have incredible potential in 2022. Check this article to know more about bitcoin and altcoins.
These currencies show a promising future and can reap big profits if you do your research and invest carefully.
Further reading: What is Bitcoin and Why is it so Popular?
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