Cryptocurrencies are starting to become mainstream and with the success of Bitcoin in the last decade, blockchain technology looks as if it is here to stay. As now, crypto can be broken down into different categories such as Non-Fungible Tokens (NFTs), Decentralized Finance (DeFi) and Smart Contract platforms, amongst others. There are plenty of new, exciting coins looking to solve real world issues.
As blockchain technology goes from strength to strength, many believe it could be the technology to stop financial fraud. Because of its unique technology whereby data is totally decentralized and the whole network has to agree on every transaction, it has that element of trust without the need for a third party. So here are some coins to keep an eye on going forward:
Solana ($SOL)
Solana has risen meteorically this year and has been dubbed “the Ethereum killer. It is a smart contacts platform which has become very popular because of NFTs. What makes Solana stand out is its speed and cost compared to its competition. As an example, Solana is able to execute over 50K transactions per second (TPS) which is close to the gold standard Visa (66K) and way ahead of Ethereum at 13 TPS. Scalability is a major issue today in blockchain technology and it looks as if Solana is solving that problem.
Dogecoin ($DOGE)
A personal favorite of the world’s richest man: Elon Musk, this meme-based cryptocurrency has skyrocketed in recent years. Initially created as a joke, the coin has a cult following with other cryptos emulating Dogecoins success such as Shiba Inu. Now, it is seen as a legitimate investment, with being on most major exchanges. The blockchain was forked from Litecoin in 2013 and is primarily used as a tipping system on Reddit and Twitter.
Decentral Games ($DG)
Decentral Games is a community-owned decentralized autonomous organization (DAO) that specializes in NFTs and the Metaverse. They develop 3D metaverse games on the blockchain which include wager-based games, play-to-earn models, and 3D virtual events games. Metaverse coins are all the rage after Facebook’s name change to Meta as gaming will be the first to break into the mainstream. Imagine the immersive experience of the Metaverse playing a first-person shooter. As Decentral Games offers wagers-based games, the gambling element will feel exceptionally real as if playing at a casino itself. However, until fully developed there are comparison sites that find the best online casinos. They advise accordingly on all the best welcome bonuses and free spins, have expert reviews on only secure operators, and check the available payment methods. Any Metaverse gambling protocol is something of interest, and Decentral Games is one of the market leaders.
Polkadot ($DOT)
Created by the co-founder of Ethereum; Gavin Wood, Polkadot is a smart contracts platform building its own ecosystem. It is trying to resolve the issues of scalability and is quicker than Ethereum being 166 TPS. However this is way off Solana, but Polkadot has some other qualities why it is something of interest. For example, it facilitates the cross-chain transfer of data, which allows different blockchains to work with one another. They call this process “parachains” and it is a unique feature, separating them from the crowd.
Pancake Swap ($CAKE)
One of the largest Cryptocurrency exchanges: Binance recently launched a decentralized exchange (DEX). On the DEX, it is an automated market maker (AMM) which means there are no order books but liquidity pools. All trades are executed using smart contracts on Binance Smart Chain (BSC) and they allow users to trade BEP20 coins that are native to BSC. Pancake Swap is one of the most popular decentralized apps having over $100m in trading volume every day. DEX’s are an upcoming trend as they are a cheaper and more secure version of exchange, therefore Pancake Swap is on the list.
There are over 14200 cryptocurrencies available and trying to find the next gem can be difficult. Always do your own research and always be vigilant as cryptocurrencies can be extremely volatile, so it is not for the light-hearted. There are plenty of resources online especially on YouTube to help guide through the crossfires of crypto. But remember to always be careful when trading.
