Top 5 cryptocurrencies list to watch for in 2022
In 2021, the cryptocurrency market has been super exciting, volatile and brimming with twists and turns. A year that has additionally seen a blast in the adoption of crypto as a viable investment, both by individuals and companies.
Undoubtedly, Bitcoin is certainly the most significant cryptocurrency by market capitalization representing about 40.32% of the market. Be that as it may, there are certain currencies otherwise known as altcoins, which by far seems to be interesting nonetheless to watch for in 2022.
In this article, we will explore 5 cryptocurrencies other than Bitcoin to keep on your radar for the year 2022. Of course, we will not be reviewing minor projects and meme coins but only projects which has established a strong foothold, usefulness and presents an opportunity to get better for 2022.
5. Zilliqa (ZIL): The Crypto Metaverse
A lot many people are on the look out for the cryptocurrency trends that can make it big to the next year. Metaverse is for sure one of those trends the crypto community is eyeing for. Metaverse is under spotlight and getting favorable attention from industry leaders and tech giants such as Facebook. The later, even rebranded itself as Meta. Many cryptocurrency projects are embracing this new trend and Zilliqa is not behind in this race either.
Zilliqa is however very new to Metaverse, as they just announced it. But given their promised high efficiency and transaction scalability they can really demonstrate what’s missing. To venture into Metaverse, they plans to combine virtual reality (VR) and augmented reality (AR) technology in order to offer extended reality (XR) to their users.
The reason we see this a potential for 2022, is because the news was just announced this week. It is still very fresh and haven’t really diffused down into the price yet. And of course it is a legit long term project with an established history.
Take a look at the one minute long video of Metaverse city.
Note: Sandbox and Decentraland are other two projects venturing into Metaverse.
4. Polkadot (DOT): Inter-Blockchain communication
Polkadot, created by one of the Ethereum co-founder, presents a unique solution to the communication between blockchains. Blockchains in itself are incapable of communicating with each others and this is one of the hurdles in crypto adoption as well. Many other dedicated projects such chainlinks are trying to resolve this problem.
Polkadot bridges this communication gap by working parallel with relay chains and para-chains together. If Blockchain were to be mainstreamed, it has to work with in sync with each other. For example, a supply chain blockchain has to be able to communicate with other sectors in sync to run the operation smoothly. Although, there are other blockchains such chainlinks working on inter-blockchain communication but Polkadot seems to be leading with it’s momentum.
3. Solana (SOL): Another Ethereum Killer?
Ethereum shortcomings such as transaction speed and network congestion badly damages it’s position as the most popular platform for dapps. Although, with Ethereum 2.0 this problem would resolve but currently Solana beats Ethereum in transactions per second (TPS) so badly, that it’s not even a close contest. Ethereum’s network is heavily congested. It takes 10 to 15 seconds to process one transaction (mine a block) and can only handle 15-45 TPS.
As a cost-efficient and scalable alternative to Ethereum, Solana can handle 50,000 transactions per second. And that is why it has become a default protocol of choice for DeFi & NFT projects. When the NFT Solana Apes launched in August, 10,000 tokens were sold in just a few minutes. Solana is often cited as Ehtereum’s strongest and most serious competitors. But can it really kill Ehtereum? NO.
Regardless of Solana being another Ethereum killer or not, it’s a strong contender for 2022.
2. Decentraland (MANA): Another Metaverse?
Decentraland is the fastest-growing, crypto-based virtual world that has been grabbing a lot of eyeballs in the crypto market lately. One of the most important crypto metaverse project is undoubtedly Decentraland (MANA), which is a fully functional metaverse, in which one can buy properties, and participate in games or other online experiences. Unlike other cryptocurrencies, Decentraland is a unique project. It is an established multiplayer metaverse built on the Ethereum blockchain.
The concept of Decentraland crypto is quite exciting as it seeks to develop a virtual world that allows users to create, develop and innovate new things. The price of MANA token has risen beyond the threshold of $5 this year, hitting a record high of $5.90 on November 25, 2021.
For content creators, businesses, and individuals looking for a new artistic medium, business opportunity, and a source of entertainment, this is the right platform to invest in for 2022.
1. Ethereum (ETH): Can it go crazy?
Ethereum is the leading network on which decentralized apps and smart contracts are built, either directly on the Ethereum blockchain or a secondary framework or protocol like Chainlink or Polygon. As an investor you can go with Bitcoin for it’s store of value function but that might not be the objective for those looking for functions such as utility and innovation. Ethereum’s transition from proof of work to proof of stake is expected to happen sometime next year and when that happens, it is expected to go faster and scalable with transactions which seems to be the biggest hurdle so far in it’s adoption.
Regardless, Ethereum remains the preferred network for many crypto projects. Indeed, whether in DeFi or NFT, it is often ETH which serves as a platform. For example, more than 90% of transactions related to NFTs take place on Ethereum network. We believe that with Ethereum 2.0, when transaction goes up from 13 tps to 100K tps, the Ethereum saga can go crazy and that is why it makes it to our top 5 list.
Original link: Your go to Crypto place
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