Crypto revolution is supposed to be done after taking all the important facets of the ongoing trends. Altcoins are known to be an incredibly disruptive force to the traditional financial systems and this was quite inevitable as such altcoins provide great benefits that any active user looks forward to. Bitcoin Era will take you through some of the emerging altcoins that you need to be wary of before making your final decision.
#1 Avalanche aka “AVAX”
There is no denying the fact that Avalanche gained significant traction in the last couple of years on account of its easy-to-use characteristics. As per the recent estimates, avalanche registered a colossal growth that went over 3000% in the financial year 2021. Its performance continues to outshine its competitors and looks pretty strong in 2022 as well. Avalanche is also being hailed as the “Ethereum Killer” and that can be attributed to its incredible features of facilitating faster processing speeds & considerably lower fees.
Avalanche dominates the smart contract scenarios, however, the real concept of smart contracts was ushered in by Ethereum which is the first-ever blockchain to do so. However, why was there a massive surge in Avalanche users all of a sudden? Well, Ethereum started charging high transaction fees and the subsequent network congestion made people seek out alternatives that weren’t very hard to do. This marked the dominance of Avalanche in a very short time period.
#2 Polygon aka “MATIC”
When it comes to layer two solutions, users can always count on this dynamic platform known as “Polygon” and it works as an aggregator for the cryptocurrencies like Ethereum. However, it does not rely on building an entire blockchain from the scratch, rather it adopts a different approach. Polygon offers a better solution, i.e., improving the overall performance of the existing blockchains which is easily done by such layer two platforms. It adopts a number of effective ways to keep Ethereum cheaper & faster simultaneously which works wonders for millions of active users.
It also ensures robust security and there is certainly no compromise on that front whatsoever. Ethereum is growing at a rapid pace and the apparent success can be attributed to all back-end processes that are being made seamless and without error, just what Polygon does. Moving to an entirely new blockchain doesn’t seem viable which is why Polygon is the most favorable option in that scenario.
#3 Enjin aka “ENJ”
There is no denying the fact that NFTs have been taking the digital ecosystem to a whole new level hands-down. Enjin is one of the major proponents of NFTs and the entire apparatus of NFTs has been growing exponentially. Non-fungible tokens are highly valuable digital certificates that are subsequently stored on different blockchains. Now, it needs to be noted that such developments have been altering the way we exercise ownership of our digital items. Such digital items might include videos, music, collectibles & in-game items.
Such Enjin platforms help people to create, trade & store NFTs and the community is proliferating every day. It also features reputable leadership & all the proven cases that have already occurred in the past. Gaming companies along with the entire music industry have yielded significant benefits from such NFTs and Enjin acts as a catalyst to such developments. The prospects of Enjin rely heavily on NFTs’ survival in the market.
#4 Cardano aka “ADA”
You must have heard about all the polarizing forces in the ever-expanding crypto world. Well, Cardano is one such example that has proved its reliability, scalability & efficacy. It is of the view that blockchain can be effectively used to make the entire decentralized system a better place to work. However, investors do not like just one element that Cardano abides by which is the “Slow and steady” approach. Investors have money but don’t have time and which is why their patience runs out really quickly.
Each step is tested before finalizing anything on the Cardano platform which is something quite similar to the traditional approach. Smart contracts are defining the trends pretty well and Cardano has been working in this domain as well to establish its irreplaceable presence.