by Satavisa Pati
January 1, 2022
You can invest in these top 10 altcoins in 2022
Alternative digital assets, such as a coin or token that is not Bitcoin, are known as altcoins. This terminology stems from the notion that Bitcoin is the first cryptocurrency and that all others are “alternative” or “alternative” coins. Here are the top 10 altcoins to check out in 2022.
Ethereum, a smart contract platform for creating decentralized apps (DApps), was created in 2013 by many co-founders, including VitalikButerin. It developed its own programming language for smart contracts, Solidity. To execute your Solidity Smart Contracts on Ethereum’s blockchain, you pay a network gas fee in Ethereum’s Token Ether. Ethereum laid the foundation for what is now known as Decentralized Finance (DeFi). Ethereum’s early success has resulted in much of the DeFi space relying on Ethereum’s blockchain. With Ethereum switching to version 2.0 in the coming year, the fees will drop drastically and a whole range of new DApps will have their chance to shine. The ticket for the ride on the Ethereum blockchain is the Ether Token (ETH), which is becoming more useful every day.
Chain link (LINK)
Tokens currently represent the vast majority of smart contract applications. Chainlink aims to bring the power of smart contracts to the real world. Chainlink brings external data into smart contracts. Ethereum smart contracts can now react to other asset prices and global events and call other APIs. Chainlink makes smart contracts really smart. It also contains real data. For example, farmers can insure themselves against a bad season. The smart contracts filtered via Chainlink pay out insurance claims if values in the contract such as share price, temperature or precipitation do not meet a certain standard. Instant Payments are carried out as soon as the program receives the relevant weather data. Chainlink’s potential seems limitless and many of the top DeFi apps are paying huge sums for the LINK token to use their platform.
Unit exchange (UNI)
Uniswap is an Ethereum-based DApp for exchanging Ethereum tokens via liquidity pools. Uniswap offers 2 core products: provision and use of liquidity. Uniswap offers users the ability to instantly exchange Ethereum-based cryptocurrencies by accessing its smart contract liquidity pools. These pools of liquidity are filled by other users who earn the exchange fees for providing liquidity. Uniswap fees must be paid using the UNI token, making it one of Benzinga Crypto’s top picks for this market cycle.
Stellar Lumens (XLM)
Stellar, a decentralized platform for uniting the different banking systems in the world, uses different, separate payment methods (ACH, SEPA, SPEI, etc.). Stellar’s network connects these systems through a decentralized ledger with on-off ramps for each payment method. Stellar’s closest competitor, Ripple, faces an SEC investigation. Stellar has the best opportunity to seize the moment and seize its best opportunities to become the global payments network. To prevent spam on the Stellar network, users must pay a transaction fee and meet a margin requirement in Stellars Token Lumens (XLM).
Decentralized lending offers higher interest rates than centralized lending with better security and anonymity. Aave, one of the leading loan protocols today, means that borrowers must offer collateral greater than the amount they put on the smart loan agreement. The smart contract holds collateral securely in an escrow account for the entire life of the loan and replaces the need for a trusted middleman. Should the borrower default, the lender is automatically paid by the smart contract. Aave offers 10% APY on certain No Know-Your-Customer (KYC) stablecoin loans, a product that is really unknown in traditional finance.
Solana is a smart contract blockchain with an active DeFi ecosystem and over $ 10 billion of locked protocols. Many see Solana and other smart contract blockchains as “Ethereum killers”. Others see the demand for blockchain products growing so much that many of the largest smart contract blockchains can be fully used at the same time. Whichever outcome occurs, there is likely to be a significant amount of innovation on the Solana blockchain thanks to the in-depth VC support. Solana was greeted by Sam Bankman Fried and the FTX team who certainly have the means to ensure the blockchain’s success. While many financial applications require the security of a highly decentralized blockchain like Ethereum, blockchain games and other applications make more sense in a high-throughput, low-fee chain like Solana. Solana’s native token is SOL, which is required to interact with the blockchain.
Sandbox (SAND) and Decentraland (MANA) are up over 500% since early October, according to CoinMarketCap data. Enjin is up nearly 170% over the same period. It is wise to think carefully before plunging into the latest madness, especially with cryptocurrencies where speculation is rampant. But Enjin is an interesting long-term metaverse project as the platform allows users to create and trade non-fungible tokens (NFTs). NFTs are unique digital collectibles with ownership information encoded in the tokens, and they play an important role in the way people own things in these virtual worlds. It’s still very early for the Metaverse and we don’t yet know how it will play out. But if it hits, NFTs will be a core element. Since Enjin makes it easy for people to store and trade their NFTs no matter what metaverse or game they bought them in, it’s a cryptocurrency that I’ll be watching out for.
One that has done well lately is Livepeer, a decentralized video streaming network. Network participants can earn LPT tokens by contributing their unused computer processing power. Livepeer uses this computer network to do the intensive work of reformatting videos for various devices. This way, there is no need for expensive infrastructure to provide a cheaper and more reliable way to stream video.
Elrond is one of several smart contract cryptocurrencies that will be attracting investor attention this year. It’s a faster, cheaper alternative to Ethereum and has already attracted a number of projects. Elrond recently announced a $ 1.29 billion liquidity incentive program for its newly launched decentralized exchange, the Maiar DEX DeFi platform. This offers great benefits to investors using EGLD and MEX, the Maiar DEX utility and governance token, on the platform. With various programmable blockchains crowding around the position, this move makes Elrond a worth seeing coin this month.
Chiliz is a cryptocurrency aimed at sports enthusiasts. Fans can participate in their favorite teams by buying fan tokens via the sozios.com platform. Token holders can vote on decisions such as celebratory songs, messages on the captain’s armband, and other social media activities. You can also win rewards like VIP behind-the-scenes access, signed memorabilia, and meet and greet experiences. One reason why Chiliz is interesting right now is its new NFT offering. The first live NFT drop in the game occurred during a soccer match between AC Milan and AS Roma. Live NFTs are created based on in-game action, and these limited-edition NFTs are already very popular. Another reason to keep an eye on Chiliz is that it is well positioned as crypto exchanges are moving into sports sponsorship. The Crypto.com Coin (CRO) jumped on news this month that it had bought the naming rights to the Staples Center. In addition, Binance recently launched a sports fan token platform.
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