While there are numerous cryptocurrencies to look out for in 2018, Stellar may be the next big one. Despite being released in 2014, Stellar has been gaining popularity in recent months. The decentralized protocol behind Stellar is known for its ease of cross-border transactions and low exchange costs. It also features a built-in decentralized exchange that can be used on different platforms. Here are a few reasons why Stellar is set to take the crypto world by storm.
Elrond
Elrond is a layer one smart contract platform that leverages the web assembly virtual machine. The company is targeting a July 2020 mainnet launch. Though it has been slow to attract developers, Elrond is rising fast with the massive liquidity mining campaign of the Maiar decentralized exchange. With a coin price that could potentially reach $200, Elrond is poised to become the next big crypto.
While there is no definitive proof that Elrond will become the next big crypto, its potential is high. Many experts predict that Elrond will eventually become the next Bitcoin competitor. The crypto’s price is trading below its 100-day Moving Average and 50-day Moving Average. Its price has also been hovering close to the downward edge of the Bollinger Band. Moreover, it has not managed to break the 200-USD resistance level.
Solana
In the beginning, there was little hype surrounding Solana, but the price quickly soared, and it’s now worth about $41 billion, surpassing the price of Dogecoin. Despite its small market cap, the cryptocurrency has gained a reputation as a promising new crypto that can rival Bitcoin. The gains are a direct result of its foray into non-fungible tokens, such as “Degenerate Ape Academy.”
Solana’s blockchain supports smart contracts, and it is relatively cheap to transact. Transactions take just seconds, and fees are minimal, compared to Ethereum, which costs a hundred dollars and takes several minutes. It also has the potential to create disruptive products. A recent feature of the Solana blockchain is a payment service called Solana Pay, which allows customers to pay merchants using a stable coin pegged to the US dollar. This is much cheaper than using credit cards or debit cards, and is comparable to a Visa or MasterCard transaction.
Polkadot
With the growing popularity of cryptocurrency, it’s no surprise that people are curious about how Polkadot works. This protocol enables data to be transferred across multiple blockchains and interoperated between different currencies. What’s more, this protocol can automatically upgrade itself. In addition, it is built on a blockchain building framework called Substrate. The Polkadot protocol supports multiple types of blockchains, including permissioned, permissionless, and parachains. In addition to facilitating data transfer between blockchains, it can also interlink public and permissioned records.
The Polkadot network is already in use. Many projects are interested in using the decentralized platform. Another attractive feature of Polkadot is that it is part of the Substrate software development kit. As such, the process of developing blockchains is easier than ever. However, Polkadot is not as popular as Ethereum, but it is working hard to become a better and more versatile cryptocurrency than Ethereum. It is also helping lay the foundations for Web 3.0.
Zilliqa
In December, Zilliqa teased a metaverse project. This news was timely as Decentraland and Sandbox were gaining traction and Facebook’s rebranding as Meta Platforms catalyzed rabid bullishness. The announcement of Zilliqa’s project allowed it to build some hype and get off to a strong start. However, after the market crashed in January, the metaverse industry seemed to fade.
Zilliqa uses cryptographic methods to create a censorship-resistant platform. The system can process both large international value transfers and micro-transactions without revealing data or compromising security. Its decentralized platform is designed with multiple shards to process high throughputs of transactions in a silicon-smooth way. The decentralized nature of the system makes it a good choice for developers as it is completely decentralized and censorship resistant.
Cardano
Unlike many cryptocurrencies, Cardano is a decentralized digital currency and aims to be the financial operating system for the world. The network is introducing DeFi products that are similar to Ethereum and offers solutions for chain interoperability, voter fraud, and legal contract tracing. Cardano is positioned to become the next big crypto and is currently trading at $0.80 per ADA. This is an attractive price considering its upcoming future development and potential adoption in many industries.
While the current environment is more accepting of promising digital assets, a few factors should be kept in mind before investing in Cardano. Among them is its strength in use-cases and lofty outlook. For instance, if you want to invest in Cardano for its use in smart contracts, you can either store your holdings on a digital wallet or place them in custody at an exchange. While this is the most convenient option for new crypto investors, it comes with a few drawbacks. First of all, you need to trust that a third party will protect your funds. Also, if you invest in high-value digital assets, you need to invest in insurance. This is especially important if you want to protect your investment.