As time marches forward, there appears to be a built up pressure on newer crypto investors to get into the game before it’s too late. But is this pressure legit? Is time running out? I would have to say not at the moment… There’s still room for exponential growth. However it’s never a bad idea to get into coins sooner than later.
There are a few projects that come to focus when we look at real world application and innovative advancement in blockchain tech. Ethereum, of course, the largest smart contract and Dapp platform and second largest market cap. Ada has stepped to the stage as a very worthy contender to the crypto magnate, currently holding the third largest market cap and trading volume at the time of this writing. Solana, hitting a new ATH almost daily now. There’s also DOT, holding strong as the 9th largest market cap.
But Why?
Why are these projects getting so much attention right now? Well, these developers are addressing a number of problems that exist not only in our current financial system, but they’re also working to innovate and address issues within the new age of Web 3 Finance. These blockchain networks strive to set forth the best. To provide the solutions. To further progress the communication, commerce and connection of humanity.
Ethereum
Ethereum is one of the most well known and the second most traded cryptocurrency. Their platform is built on a PoW based consensus to verify transactions and produce blocks and mint new coins, but they are shifting to a PoS consensus to more efficiently run the network. The goal of this shift is to produce more scalability, as PoW has proven too slow and expensive for the amount of volume they incur as the second largest chain.
But why are there so many users on this slower and expensive blockchain? Well, their success as a platform can be largely attributed to their widespread smart contract technology. Smart contracts have allowed ethereum to take the helm as the largest Dapp provider, holding more around 80% of all DeFi/ Dapp projects on their network.
Ethereum has been at the forefront of Dapp development and smart contract technology since their debut in 2015. Their user support is unparalleled, except maybe by Bitcoiners and they have what the people want. Just not at the speeds or prices they would like to see. However, with their integration into Proof of Stake validation, we can expect mass amounts of growth in areas of speed and scalability, as well as popular needs and expectations.
Their use of Dapp and Smart Contract technology has also allowed for blockchains to be built on the Ethereum network. This has brought opportunity for certain protocols to thrive, such as Polygon’s MATIC, a chain used to bring scalability and speed to Ethereum. These kinds of networks help to bring value and solution to the growing Blockchain giant.
Polkadot
Polkadot has been holding positive growth trends over the past year and even days. Although down over 30% from their all time high at the time of writing, Polkadot has been seeing the green pretty consistently. Currently trading at the 9th largest market cap, there’s reasons behind their success and current growth.
Polkadot, from the beginning, has sought secure, sustainable, opportunistic and sophisticated solutions to the financial system. Like most any other blockchain, the platform wants to take the DeFi world to the peaks that it’s destined for.
What sets Polkadot apart from other chains? Well, it’s quite simple, they want to be able to have communication between various blockchains. The goal is to have interoperability for all major networks and numerous others as well.
Having interoperability, as well as the highly advanced security and scalability that Polkadot offers, crypto investors are seeing DOT as a hot pick for their portfolios, as their blockchain comes more to full fruition day after day. Interoperability and parachain technology is coming to the spotlight and Polkadot is definitely toward the front of the race.
Cardano
Cardano is so hot right now. The ADA team has rolled out an impressive initial phase of this project bringing a highly secure, and efficient blockchain product to light. Cordano has become the third largest cryptocurrency network by volume, and is continuing to grow exponentially. Smart contracts are the next target for the development team, and they have confirmed everything is on track for the mid September debut. The Alonzo Test Net is currently live, and it seems Cordano has a few competitors in sight.
Founded in 2017 ADA has always had a place in the crypto market sphere. Unique in practice, Cardano has always been careful to do due diligence in bringing their network to life. Always putting the utmost in research and development, Cardano and natuve coin Ada are here to bring change and growth to the market.
Set to have fully rolled out their Alonzo upgrades by the end of the month, Ada could very well be the next 10x+ coin in the next year. These upgrades raise Cradano’s technological reach and bring in boundless opportunities to the network. Having the launch take place sooner than Ethereum’s scalability upgrades, Cardano has the potential to outperform, and at the very least compete with Ether’s wide reach. Ada is most definitely one to watch.
Solana
Solana. A name that can make a variety of crypto investors either light up with joy or frown with regret. Often overlooked, SOL has launched to the moon with their outrageously fast speeds and security consensus. Hitting a new all time high almost daily, and trading at the 7th largest market cap, Solana is here to bring the change.
Charles Hoskinson, creator of the Cardano platform has shown attention and curiosity to this booming network. Their unique mix of a proof of stake and proof of history as a validation is catching eyes from various other blockchains. Their speed, security and innovation are bringing their value high.
Solana came with the results. Their protocol has brought growth in exponential numbers almost daily for the past few days and even weeks. Positive by almost 4000% in one year, and 58% in just the past 7 days. They have a chance to go either way at this point. There’s a lot of hype behind them, but also a good amount of innovation.
The attention was from more than just investors, but developers and other projects. Solana is different. The hype speaks for itself.
Bitcoin Is Always Hot
Bitcoin is the first successful crypto currency. Set on privatized, decentralized and secure peer-to-peer,finance and commerce, Bitcoin is the largest crypto currency by market cap and trading volume. At the center of Decentralization, Bitcoin has the community around it that has strongly been there from the beginning of DeFi.
Not only have they introduced new ways to transfer money and information, but they have inspired all of the previous projects we have mentioned. In the sense of decentralization and security, where Bitcoin is strong. But also in the sense of speed, scalability and sustainability, where Bitcoin lacks comparatively to newer projects that have PoS and more advanced technology behind their blockchains.
Bitcoin isn’t going anywhere, even with their inefficiencies. BTC still trades exceedingly more sustainably than traditional fiat. They are still the largest and most traded currency. What some might call the gold standard in crypto. They stay old fashioned and stick to the highly secure and decentralized PoW network they’ve always had, and it works just fine. Security and decentralization are two cornerstone concepts to the DeFi movement.
Keep An Eye Out and HODL
These projects are going to be towards the top of the crypto markets in years and even decades to come. Bitcoin will always remain as the “gold” standard of crypto. It works. It’s practical and has a far reach into the world of finance. Though they are the example in security and decentralization, scalability, speed and interconnectivity are all necessary to the prosperity of DeFi.
Cardano, Solana, Ethereum and Polkadot are all stepping into the spotlight lately and will be observed for sometime.
Ethereum has long had a very strong presence and is speculated to be the coin to flip Bitcoin as the largest in value and market cap. All because of their established smart contract platform and their desire to boost scalability and speeds through their transfer into ETH 2.0.
Cardano would be the one to give Ethereum a run for its money as they are soon to release their Alonzo upgrades, bringing smart contracts, Dapps and NFTs to Cardano.
Polkadot comes into the game addressing the same issues, whilst at the same time focusing strongly on interconnectivity. With so many programs out there with applicable use and acceptance, it only makes sense that their chain can be interoperable between the various chains.
Solana is a prime example of market innovation. They saw the needs that needed to be met and pursued a unique way to bring about change. They’re known for speed and scalability and being the best, catching eyes from many enthusiasts.
The people love Bitcoin and the idea of a more secure and decentralized peer to peer financial system. However, blockchains like Ethereum, Solana, Polkadot and Cardano offer more than just those things; a wider lens of financial technology. Efficient, cheap, interconnected and able to take on high amounts of traffic, that’s what traders are looking for. It’s no wonder that these projects are catching eyes. Get ’em now before they moon hard, because they probably will. HODL. Not financial advice.
