These 4 Cryptocurrencies Are All Set to Crush Ethereum

You may be tempted to buy Ethereum or convert ETH to INR and book profits as Ethereum may soon be the decentralized cryptocurrency choice. But due to the increasing popularity of decentralized assets, Ethereum’s system has a flaw. It is more expensive than ever to use the Ethereum blockchain because so many people are transacting, and gas fees rise with the increase in users.

It is becoming more challenging to trade, buy and sell NFTs on Ethereum. Additionally, it is more costly to create new projects. This problem is also present with non-fungible tokens, which are the most used uses of Ethereum. Investors and creators are seeking cheaper options as NFTs become more popular. To help investors, we’ve listed down four cryptocurrencies that will crush Ethereum by 2022 end and beyond.

Avalanche

Avalanche is a popular blockchain that challenges Ethereum’s dominance with smart contract technology. Avalanche’s transaction speed is much greater (around 6,500 transactions per second). It has a unique three-chain structure that can be used to develop decentralized apps (DApps), and other Decentralized Finance (DeFi) use cases.

Avax-projects.com reports that there are over 400 NFT projects on Avalanche. This position puts blockchain in a strong position to capitalize upon recent growth in NFT transaction volumes, which nonfungible.com stated grew from $82.5 million last year to $17.7billion.

Avalanche has also attracted investors. Since January, the asset’s market capitalization has increased by $7 billion, and its price has risen by 32%. According to CoinMarketCap data, Ethereum’s market capitalization grew by $24billion, and its price rose by 8%, respectively. If not Avalanche, you can also consider to buy litecoin in India and adding it to your portfolio.

Chainlink

Chainlink is a layer of blockchain abstraction that allows universally connected smart contracts. It can also connect to other networks without compromising security and reliability.

Chainlink is working on real-world applications of its technology. Chainlink, for example, teamed up with AccuWeather to find better ways to measure crop resilience. Eric Schmidt, the former CEO of Google, was recently appointed as a strategic adviser by the company. He brings his experience in growing tech companies.

Chainlink’s price has not risen much in the past week. According to CoinMarketCap data, Chainlink saw a significant influx in trading activity in recent days. More than $550 million worth of Chainlink was exchanged hands.

Before investing their first dollar, it is essential to do your research on digital assets and understand the risks.

Solana

Solana (SOL), a fourth-generation cryptocurrency and blockchain, leverages an open infrastructure for greater scalability. It introduces various unique technologies that provide unparalleled transaction speeds and enterprise-level protection to its users. The network has experienced significant growth since its inception in 2017.

The crypto market continues to be plagued by scaling issues. The Proof-of-Work (PoW) consensus mechanism was used in the early blockchains, which has caused serious congestion problems. Top coins like Ethereum and Bitcoin were created to raise transaction fees as congestion increased. This has caused significant issues for both these networks. Due to the rise in DeFi platforms, Ethereum is currently overflowing with new projects. This congestion means more fees for users and longer transaction delays.

Solana avoids these issues by introducing systems that allow the network’s transaction throughout scale in proportion to its bandwidth. Bitcoin can easily process approximately 7 transactions per second (tps), while Ethereum can handle twelve. Developers claim that Solana can handle 50,000 transactions per second (tps).

Polkadot

Like many post-Bitcoin cryptocurrency tokens, Polkadot can be bought and sold through exchanges. It also has a decentralized protocol.

The Polkadot protocol allows unrelated blockchains to securely communicate with each other. This means that data or value can flow directly between the Ethereum and Bitcoin blockchains without any intermediary. It is also fast and scalable thanks to the use of multiple parallel blockchains (“parachains”), which take a lot of processing load off the main blockchain.

The Polkadot token serves two primary functions within the Polkadot network: its governance token, which gives holders a voice in the future protocol. It’s also used for staking. This is how the Polkadot networks verify transactions and issue new DOT.  It can be purchased and sold on various popular exchanges as part of your investment strategy.

What Should Investors Do?

Although the cryptocurrencies mentioned above are lucrative and have high promising growth prospects, it is suggested to do your own research before investing in any cryptocurrency.

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