There is rarely a clear case of a free market economy than blockchain cyberspace. For example, the Decentralized Financing (DeFi) industry reached a total restricted value (TVL) of $ 80 billion in 2021, up from a lack of control a few years ago. Additionally, that number is expected to reach $ 800 billion in 2022. So, without much ado, let's take a look at how three top-tier cryptocurrencies can add wealth to your portfolio. These altcoins - ie crypto other than bitcoin - are Ethereum (CRYPTO: ETH), Cardano (CRYPTO: ADA) and Binance Coin (CRYPTO: BNB), respectively. Over the past four years, ETH - the largest of the three - has gained more than 1,000%, Cardano has returned nearly 9,000%, and finally the Binance coin has risen to the platform, gaining more than 32,000%.
So why should you invest in Ethereum, Cardano and Binance Coin?
Ethereum
Ethereum developers are the preferred blockchain for creating decentralized applications (dApps) or applications that run on peer-to-peer networks rather than central servers. More than 2,845 DAPs use Ethereum, and users can trade crypto assets ranging from social media to online gaming, media, and decentralized exchanges (DX). Ethereum dApp users generate around $ 200 million, or $ 67 billion, in transactions every day. Ethereum will go from power-hungry proof-of-work (PoW) protocol to proof-of-stake (PoS) by the end of next year. This allows coin holders to gain interest in doing so rather than operating mining rigs to find the correct hash to validate transactions and validate transactions by pressing their ether.
This move, according to estimates by Ethereum co-founder Vitalik Buterin, could reduce network power consumption by 99%. Additionally, Buterin plans to expand Ethereum's smart contract functionality (self-executing contracts triggered by certain events) through Oracle tokens, such as ChainLink, which can access data from outside the blockchain and create more specialized DAPs. For these reasons, I think Ethereum is an exciting crypto that you don't want to miss out on.
Cardano
On September 12, Cardano's long-awaited Alonzo Fork finally went live, enabling smart contracts on the block chain. With this move, many investors believe that Cardano's $ 75 billion market capitalization will one day surpass Ethereum's $ 400 billion market capitalization. However, skeptics say Cardano is overrated, as only 150 projects and DAPs are under development on Cardano's blockchain. It is a small part of thousands of Ethereum. But as the industry changes every few years, so does Cardano. Cardano is already running on the POS protocol, can handle more transactions than Ethereum and has lower network fees.
In addition, Cardano developers are focusing on the non-fungible token (NFT) industry by building infrastructure such as marketplaces. Open Sea, for example, is the top NFT marketplace, generating more than $ 3.4 billion in sales in the last month alone. So, there are definitely many possibilities for Cardano to enter the market. Consider adding this guaranteed coin to your portfolio.
Binance coin
Binance Coin is Binance's proprietary digital currency, the world's largest cryptocurrency exchange, trading an average of $ 29.7 billion every day. Launched in 2017, Binance Coin can only be used to make peer-to-peer electronic payments or to pay trading fees on the Binance Exchange. But in recent years, its usefulness has increased dramatically. Binance Coin (BNB) is made of two fungible tokens in Binance Chain (BEP-2) and Binance Smart Chain (BEP-20). In Binance Chain, users can send or receive BEP-2 BNB, issue new BEP-2 tokens, or exchange Binance coin for other assets in Binance DEX.
Investing For Life does not give financial advice and this is purely educational and is purely for information. Investing For Life will not be liable for any decisions made from this information. Investing For Life hopes cryptocurrency exceeds your expectations.
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