Top 5 Coins of Popular Blockchains
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Best 5 Coins Based on the Blockchain: Currencies With a Huge Potential
The crypto markets are booming. With hundreds of new cryptos hitting the market every month, it can become challenging to pick the most promising crypto.
For this reason, we have selected five blockchain-based coins with huge potential. In this article, we will review their advantages and reveal the reasons these tokens could make it big in 2022.
Fantom is a scalable blockchain model that functions on the directed acyclic graphs (DAG) principle. This fast blockchain attempts to solve the blockchain trilemma. It aims to be decentralized, secure, and scalable.
To achieve this Fantom doesn’t record transactions in blocks like other blockchains. Instead, transactions are interdependent and recorded on top of each other. These DAGs allow incredible speeds of more than 10,000 transactions per second. The reason is they don’t need to waste resources for block creation.
Moreover, unlike other proof-of-stake blockchains, Fantom has a limited maximum supply of 3 billion coins. This scarcity makes us believe that
Fantom is viable in the long term, while other blockchains might falter. When we compare Fantom vs HBAR in this regard, Fantom is the clear winner, as its supply is much smaller than Hedera.
Hedera is a smart contract platform that, like Fantom, wants to do things differently. It isn’t created on classic blockchain architecture with blocks of transactions chained together. Instead, it introduces a novel method of registering a distributed ledger — the Hashgraph.
This allows it to be simultaneously fast, cheap, and secure. Like Fantom, it can provide a throughput of 10,000 transactions per second. Each one costs less than $0.0001 in transaction fees. It can provide advanced smart contract functionalities that rival blockchains like Ethereum. The HBAR token native to the platform is capped at 50 billion tokens, of which 18 billion are already in circulation.
Dogecoin is the original meme coin that gave birth to dozens of copycats like SHIB and played a major role in the bull market of 2021. It was created as a joke in 2014, but over the years, this coin has gained a loyal community of followers and backers. Many personalities have backed DOGE, including Elon Musk and Snoop Dogg.
Even though it doesn’t have a capped supply, its mainstream exposure is one of Dogecoin’s biggest advantages. Its meme status turns it into the perfect vehicle to cater to beginner crypto investors. Novice crypto enthusiasts can also take up mining DOGE. For information on reliable mining pools, visit https://godex.io/blog/crypto-currencies/dogecoin-mining-pools-list-top-5-best-dogecoin-doge-mining-pools-in-2021-godex-io
In 2017, Tron (TRX) was released as a direct competitor to smart contract platforms that were suffering from their success. Ethereum’s transfer speeds couldn’t keep up with the demand. And Tron attempted to provide faster and cheaper transactions to reduce this issue. Moreover, it provided decentralized app support which was great for microtransactions.
Over the years, Tron has gained quite a following in decentralized finance (DeFi) as well. Its ecosystem of decentralized apps provides some huge advantages in the DeFi market. They include cheap token swap platforms and DeFi lending and liquidity mining opportunities. The TRX cryptocurrency native to the platform can be used for staking and paying for the negligible transaction fees on the network.
Monero is a privacy-focused cryptocurrency that obfuscates all transaction details on its network. An external observer would never be able to tell the amount of Monero tokens transferred between users, where they came from, or who they went to.
We live in a world where governments are trying to track every one of our transactions. Monero allows you to conserve some privacy in the way you handle your finances. That is why coins like Monero will be valued over others for confidential transactions.
In 2022, the cryptocurrency market is filled with promising projects that could bring profits to savvy investors. Innovative technologies like Fantom and Hedera will start making a dent in the competition. Established coins like DOGE and TRX will keep newcomers happy with easy-to-understand fundamentals. Privacy coins like Monero will continue to rise in demand due to increased KYC requirements.
We hope our shortlist of coins gave you a good overview of these promising coins and the reasons why they might explode in 2022.
George Brown is a main editor in Bitgraph Network Team.