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The original goal of cryptocurrencies was to create a decentralized payment system, independent of banks, anonymous for every user and at the same time secure. In 2009, Bitcoin was the first cryptocurrency to meet these requirements, paving the way for countless other virtual currencies. Bitcoin is no longer the only important coin. New second generation cryptocurrencies have set out to solve the problems of the first generation: scalability, security and decentralization. Here is the list of Top 10 best cryptocurrencies for investment (it is just an opinion based on the market, does not constitute a buy or sell recommendation, do invest at your risk. Happy investing !!!)
1. Ethereum (ETH)
Finally, in first place is Ethereum. ETH has been the second largest cryptocurrency in terms of market capitalization for quite some time. The project is an open source blockchain system that focuses on smart contracts and dApps. In addition, Ethereum acts as a “host” for several other cryptocurrencies.
With the advent of NFTs, so has interest in ETH as it is the token that is primarily used in marketplaces. In a way, Ethereum is on the way to becoming “the currency of the internet”.
2. Polygon (MATIC)
It is an Ethereum token. The underlying polygon network is intended to solve a central problem of the Ethereum blockchain: scalability. Polygon is supposed to make the use of so-called sidechains faster and cheaper. User deposit Ethereum tokens in a smart contract. You can then use the token normally within the polygon blockchain before it is returned to the Ethereum blockchain. The MATIC token serves as a currency to pay transaction fees and as a governance token for the further development of the project.
3. Binance Coin (BNB)
The Binance Coin (BNB) is the native token of one of the most popular cryptocurrency exchanges in the world, Binance.
Binance has grown from a single exchange to a whole network that includes the Binance Smart Chain, Binance Academy and various other research projects. BNB users benefit from lower fees when using the exchange. Its founder, Changpeng Zhao (CZ), is one of the most famous faces of the crypto market worldwide and has achieved celebrity status.
4. Dogecoin (DOGE)
Bitcoin might be the "mother of all cryptocurrencies" but the DOGE coin has a lot of fun for all crypto currency enthusiasts.
The DOGE coin has a fun and inviting community and has started various projects and achievements. More importantly, the cryptocurrency is designed for normal people and not just for experts. The current crypto forecast 2022 assumes that the Dogecoin will probably remain below the 1 US dollar hurdle, but there is the possibility of increasing towards 0.50 US dollars shortly.
5. Solana (SOL)
Solana (SOL) is intended to solve the problem of inefficient transactions. The blockchain can already execute 50,000 transactions per second. For comparison: there are just seven transactions in the Bitcoin blockchain. This predestines Solana for the use of decentralized applications (dApps) and digital contracts (smart contracts). dApps are programs with which, for example, business processes can be mapped in the blockchain. Investors apparently see great potential in this.
Polkadot (DOT) is supposed to solve two problems of older cryptocurrencies with a new technology. That is why Polkadot relies on a technology that allows much faster and cheaper transactions. At the same time, Polkadot should enable the exchange between different blockchains. This enables companies to exchange information with companies that use a different blockchain.
7. Shiba Inu
While many new cryptocurrencies with potential want to solve specific problems of the old blockchains, Shiba Inu is following in the footsteps of Dogecoin. The cryptocurrency, which is decried as a “meme coin”, gained fame at the beginning of the year when it launched an impressive price rally, spurred on by tweets from Tesla CEO Elon Musk. Like the Dogecoin, Shiba Inu is also intended to be a means of payment for paying for leisure activities.
Filecoin (FIL) is a decentralized digital storage system. This means that, unlike cloud providers such as Dropbox, it works without a central server. Instead, the data is stored in the blockchain. Users get paid for providing storage space. The costs determine supply and demand, because each user determines his own prices.
With this approach, Filecoin differs significantly from other crypto currencies because a functioning business model already exists that serves a specific, existing need in the market.
Decentraland (MANA) is based on Ethereum and is more reminiscent of a computer game than a currency. In Decentraland, users buy virtual land and can interact with other users. Over time, apps, in-game payments and communication features will be added. Like Ethereum, the project is managed through smart contracts. All users who hold at least one MANA token can vote on changes and participate in new auctions for land.
As we know that cryptocurrency is one of the hottest trends in technology right now, with many people looking to invest their money. Luckyblock is a new cryptocurrency that's looking to change the lottery industry.
Luckyblock wants to use blockchain technology to offer lottery games. The way this works is by decentralizing the process so anyone can play without needing to go through a centralized operator or government body.
This content reflects the personal opinions of the author. It is accurate and true to the best of the author’s knowledge and should not be substituted for impartial fact or advice in legal, political, or personal matters.
© 2022 Kaditya