Best ALTCOINS 2022

An altcoin is a misleading term. The term “altcoin” was popularized in 2017 after thousands of new Bitcoin alternative appeared on the market. In 2022, however, most of the top 100 cryptocurrency cryptocurrencies won’t be Bitcoin alternatives.

There are many new applications and products in the space, with some very different from each other. It’s difficult to keep up with all the happenings in this space, as there are millions of cryptocurrency. We’ve created this article to highlight some of the most interesting developments in the space and hopefully spark your curiosity.

Also Read: Will Crypto Go Back Up? Will Bitcoin Return To Its Old Price?

The Best Altcoins in Web3

New Web3 apps are created every day thanks to smart contract blockchains such as Ethereum and Solana. Web3 refers to any application that integrates Blockchain within its product. Coinbase, for example, is a web2 platform that works according to the company’s goals. Uniswap, on the other hand is a Web3 exchange protocol that (think HTTP) operates entirely on-chain. This means that Uniswap can’t be shut down by the company, central government, or other entity. Many users will pay more for this benefit.

The cryptocurrency market continues to grow. The dominance of Bitcoin’s cryptocurrency market capital has been eroded by the rise of smart contracts, and new DeFi products. This could lead to a smart contract blockchain becoming the dominant player in the space. This doesn’t affect Bitcoin’s ability store value. However, newer products are capable of doing more than store value.

Also Read: What Does the Russia-Ukraine Conflict Affect Crypto Markets?

Ethereum (ETH).

It is difficult to imagine the crypto world without Ethereum. Most cryptocurrency were created using Ethereum smart contract since Ethereum was launched in 2015. Smart contracts are a misnomer. They don’t need to be smart, or even contracts. Smart contract can be described as any code that runs on blockchain.

The difference between Bitcoin & Ethereum is very simple. Bitcoin is a ledger, while Ethereum is a ledger and a computer. You can add a computer to a Blockchain and create blockchain-based applications, such as new tokens, NFTs lending markets, exchanges, and other products.

To ensure that everyone can have a complete record, Ethereum’s computer has a limited amount of space. This makes the blockchain more secure and decentralized, making it harder to takeover. The market values Ethereum’s security highly, evident in the high fees. The fees are determined solely by the demand and supply of space on Ethereum’s computer (blockchain). High fees do not indicate weakness but strong demand. Retail traders are often priced out of Ethereum because of this issue.

There is a race to scale Ethereum. Some of the most successful projects in this area will be added to the list. The Ethereum blockchain is the home and foundation of most blockchain activity. This is due to its superior security. Ether (ETH), a native asset that powers the entire Ethereum network, drives demand for the blockchain. It is not surprising that Ether will continue to be the best security platform for high-value applications.

Pro Tip:

Certain applications are greatly benefited by the immutability of decentralized blockchains such as Ethereum (as shown in the Uniswap case). Other applications, however, have little to gain by going on-chain. Many projects use cryptocurrency and blockchain to capitalise on the hype. It is important to ask the question “Why is blockchain necessary for this?”

Chainlink (LINK).

Chainlink is a company that provides real-world data for smart contracts on Ethereum and other Blockchains. Chainlink’s data could make thousands to millions of new applications possible on the blockchain. Although it may seem simple to bring real-world data to the blockchain, Chainlink’s goal is to provide reliable data that can be trusted without the need for anyone to verify.

Chainlink is at its core a “Decentralized Oracle Network (DON). An oracle can be described as a trusted information source. A calculator is a math Oracle. Chainlink uses blockchain tech to source data. This is the key. Chainlink is a platform that allows many entities to answer a single question and then returns the answer from most respondents. These entities will need to stake Chainlink’s native asset LINK to answer questions. Correct responses are paid. Anyone who responds maliciously to the survey will be removed from their stake. These rules are embedded in the protocol and allow Chainlink to operate at scale.

On-chain execution could benefit many legacy applications, such as insurance and real estate financing. While insurance is currently slow and manual, smart contracts could automate payouts.

On-chain exchanges such as Uniswap may also benefit from trustworthy pricing information for offchain assets (the US Dollar). This could enable users to switch between fiat currency and crypto with only their Ethereum wallet address.

Sushi (SUSHI)

Sushi, a blockchain-based cryptocurrency exchange, is similar to Uniswap. Sushi copied and pasted Uniswap’s entire codebase publicly available on the blockchain. Sushi launched a range of DeFi products and apps, including lending, farming, and staking, which Uniswap had not done.

It is hard to believe that the story of Sushi from its creation to where it is now is so unbelievable. The original creator of Sushi disappeared without a trace, taking with him millions of dollars. However, the community refused to accept this as the end of the story. It formed a group to transform Sushi from an abomination to a top 10 DeFi protocol, with more than $2 billion locked into its smart contracts. Many believe that this platform will be more reliable than OpenSea’s decentralized NFT platform.

Although there are still questions surrounding Sushi’s core staff (including a former leader who left recently on bad terms), the project is worth keeping an eye on in 2022. The SEC is currently investigating Uniswap’s core group, which poses a significant risk to its UNI token. Although Sushi is not currently under investigation, this is a serious risk. The SEC can’t stop Ethereum or any other exchange protocol from running, thanks to Ethereum’s decentralization.

Stellar Lumens (XLM)

Stellar, a global platform that decentralizes the banking system, accepts different payment methods. Stellar’s network links these systems via a decentralized ledger with on-off ramps to each payment method.

Stellar’s closest competitor, Ripple, faces SEC investigation. Stellar has the chance to seize this moment and make it the world’s largest payment network.

To prevent spam from the Stellar Network, users will need to pay a transaction fee and meet a margin requirement in Stellar’s token Lumens (XLM) to avoid spam.

Polygon (MATIC).

Polygon, founded by Vitalik Buterin and is now one of the most popular altcoins in 2022, has been supported by Vitalik Buterin. Polygon is an Ethereum layer-2 solution. This means that Polygon can leverage Ethereum’s security and applications on a separate network that can then be added to your Ethereum wallet. Users can interact with Ethereum apps without paying high transaction fees by using the MATIC Network.

Polygon and other layer-2 solutions are designed to bring Web3 to mass scale. Users must pay fees to use Ethereum’s blockchain. These fees can be anywhere from $10 to more than $100 during peak hours. Users can also use Ethereum on Polygon’s MATIC network for pennies. Coinbase and major exchanges plan to make transfers to the MATIC network. This could increase adoption of Polygon.

Solana (SOL)

Solana is a smart-contract blockchain with an active DeFi ecosystem, and more than $10 billion in protocols. Many view Solana and the other smart contract blockchains as “Ethereum-killers”. Others see increased demand for blockchain products that many of the most powerful smart contract blockchains could be fully utilized simultaneously.

Regardless of what outcome, the Solana blockchain is likely to see significant innovation thanks to its deep-pocketed VC backing. Sam Bankman Fried, the FTX team and other investors have embraced Solana. They certainly have the resources to make the blockchain a success.

Many financial applications need the security of a highly decentralized blockchain such as Ethereum. However, blockchain gaming and other applications are more appropriate on a high-throughput chain like Solana. SOL is the native token of Solana, and it is necessary to interact with the Blockchain.

Trade Cryptocurrency

Depending on which trading platform is chosen, you will be able to access the most popular altcoins in 2022. Although some platforms, such as Webull and Robinhood, offer stocks and cryptocurrencies, dedicated cryptocurrency platforms offer more options. You may want to invest in less well-known altcoins by using a decentralized exchange like Uniswap and SushiSwap. Below is a list of top-rated crypto trading platforms.

Cryptocurrencies vs. Stocks

Generally speaking, cryptocurrencies tend to be more volatile than stocks. The cryptocurrency market is open 24/7, seven days a week. Although Bitcoin and Ethereum have a lower risk than other altcoins they can still be volatile assets. A portfolio tracker is used by most investors to track their cryptocurrency positions, particularly if they are invested in multiple altcoins.

CryptoPro allows you to track your entire cryptocurrency portfolio across multiple crypto exchanges and crypto wallets. A portfolio tracker can help you keep organized and save time.

Prime Time for Altcoins

Bitcoin is a great way to introduce yourself to the crypto market. It’s similar to how Apple shares can be used to introduce you to the securities markets. There is much more beneath the surface. This could be the year altcoins make their debut. You can bet that altcoins will become more widely understood as people use them in real-world situations. This will lead to a rise in their adoption.

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