The global cryptocurrency market has seen impressive growth in many top altcoins over the past 18 months. Even if the market isn’t at its best right now, it’s still worth close to $1 trillion. While the market has taken a “breath” lately, investors know it’s part of its cyclical nature. This is SHIB, except BTC; It means that there is still great potential for many leading coins. In this article, we will share some altcoin projects to follow in 2023. Here are the details…
SHIB, not BTC: These cryptocurrencies have the potential to stand out in 2023
The first altcoin on the list is Oasis Network (ROSE). Oasis Network was created using the Cosmos SDK. It is a privacy-focused smart contract platform for open finance. The project prioritizes applications and use cases that support data privacy and user privacy. It achieves this goal by separating the consensus layer from the contract execution layer and providing a built-in interface that connects the two for privacy-preserving computing. The network is one of the first projects to enable data tokenization as well.
The consensus layer acts as a hub, using a PoS mechanism to secure the network and reach a consensus on transaction validity. ROSE is widely used in the Oasis network. It is used for staking and verification on the network. In addition, the cryptocurrency project comes to the fore with its first privacy-enabled Blockchain. With the acceleration of decentralized finance (DeFi), the progress of Oasis Network is expected by experts.
High expectations for Cosmos (ATOM) and Near Protocol (NEAR)
On the other hand, experts are also hopeful for Cosmos (ATOM) and Near Protocol (NEAR). As we have reported as Kriptokoin.com, the Cosmos Blockchain is not based on a central server. It was developed to facilitate communication between distributed ledgers. The Cosmos whitepaper was published in 2016. The network has focused on building an open-source blockchains platform that can streamline transactions between them. It was soon adopted by users with this purpose as the Internet of Blockchains. Cosmos brings innovation to the network, especially with the Tendermint BFT (Byzantine Fault Tolerance) and the Cosmos SDK modular framework.
The last altcoin on the list is Near Protocol (NEAR). NEAR Protocol is a decentralized application (dApp) platform. It is an Ethereum competitor that focuses on developer and user friendliness. Native NEAR tokens are used as a payment method for transaction fees and storage on the Near crypto platform. NEAR is a PoS Blockchain that uses sharding technology called “Nightshade” to achieve scalability. NEAR stands out especially by hosting many projects in its network. Near is expected to gain momentum as the scale of projects in the ecosystem grows. However, time will tell what we will experience in the market with many variables.
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