Cryptocurrencies started as a revolution in traditional financial and economic markets. Successful after previous attempts, Bitcoin has been the market’s largest cryptocurrency since 2009. In this article, let’s take a look at analyst Aratrika Dutta’s 9 altcoin projects that could reverse the rankings.
9 altcoins that are next Bitcoin candidates in 2023
Decentraland (MANA)
Decentraland is an Ethereum-based metaverse platform. Users can develop and monetize their purchased Decentraland lands in a virtual environment. Monetization methods include rentals, advertising and sponsored activities. Investors can profit from these virtual goods in a variety of ways while they wait and buy MANA tokens and LAND plots.
Polygon (MATIC)
Polygon is an Ethereum-based second layer solution. MATIC functions as the native cryptocurrency on its platform. Polygon uses PoS and Commit Chain connectivity to help scale the Ethereum network. The goal is to resolve inefficiencies that may hinder wider adoption of Blockchain technology.
Waves (WAVES)
WAVES is among the top 10 cryptocurrencies by market cap. Basically, it is a Blockchain platform for creating Dapps and smart contracts, as well as launching private crypto tokens. WAVES uses a variation of the PoS consensus mechanism called LPoS.
Filecoin (FIL)
Filecoin (FIL) has the honor of holding the record for the largest ever ICO sales. During the ICO phase in 2017, it secured $52 million in funding. Filecoin is a public platform that provides decentralized storage. You can make the necessary payments and mine Filecoin.
Avalanche (AVAX)
Avalanche is a layer one Blockchain that functions as a platform for dApps and DAOs. It is also one of the strongest Ethereum competitors, aiming to displace Ethereum for smart contracts. It aims to do so by having higher throughput of up to 6,500 transactions per second without sacrificing scalability.
XRP
Another altcoin, Ripple, provides real-time payments with extremely fast transactions. XRP is the native cryptocurrency used on the Ripple network to facilitate money transfers between various currencies. The Ripple platform is considered the most efficient payment option for financial institutions, especially for interbank flows.
Shiba Inu (SHIB)
SHIB was founded by an anonymous developer named Ryoshi. The reason it was released was to destroy Dogecoin. The Shiba Inu soon gained a lot of attention. Now both meme coins are in the top 20 cryptocurrencies by market cap. It is noteworthy that they did this, especially despite the sales in the bear market.
Left (LEFT)
Solana is a highly functional open source project that relies on the permissionless nature of Blockchain technology to provide DeFi solutions. While ideas and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation, headquartered in Geneva, Switzerland. 319,790,577 SOL circulating supply and max. supply is not available.
Cardano (ADA)
Cardano entered the market in 2017. It is named after the 16th century Italian sage Gerolamo Cardano. The ADA token is named after 19th century mathematician Ada Lovelace, who is considered the world’s first computer programmer. 33,626,396,776 ADA circulating supply and max. supply of 45,000,000,000 ADA.
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