Cryptocurrencies are getting more popular than stocks. So, people are investing in cryptos more these days. In case you too want to invest in cryptocurrencies, here are five coins or tokens you can look into.
What is Solana?
Solana (SOL) is a cryptocurrency that aims to bring blockchain technology to the long tail of computing—the myriad devices that are not supercomputers but still need a way to communicate with each other.
How To Buy SOL ?
If you are wondering how to buy Solana, there are several ways you can do so. The easiest way is through an exchange. You can also use these exchanges as gateways for trading your other coins for SOL.
You can also use these exchanges to learn more about SOL.
Cardano is a decentralized public blockchain and cryptocurrency project. In many ways, it is similar to the Ethereum network. However, Cardano operates on the Ouroboros blockchain algorithm that uses proof of stake (PoS) to create new blocks every 20 seconds. Meanwhile, Ethereum uses PoW to mine new coins and validate transactions.
In 2017, Cardano underwent a hard fork that created two different chains for ADA holders: one for Daedalus users and one for Yoroi users (official wallets). Both chains have gone through several changes since then.
As an open-source project, Cardano was first developed in 2015 by Charles Hoskinson, the founder of BitShares and ETH Classic. The team behind Cardano aims to deliver more advanced features than any protocol previously developed by using peer-reviewed academic research from experts in the field of cryptography and distributed systems.
With interest in the blockchain aplenty and its digital token, Bitcoin, reaching a fever pitch, it is easy to look at Stellar as nothing more than another digital asset. However, it is not.
Stellar is designed to facilitate cross-asset transfers of value such as payments. The platform offers solutions that enable it to settle transactions ten times faster than the typical settlement time for banks today.
The platform offers solutions that enable it to settle transactions ten times faster than the typical settlement time for banks today. It’s also fast enough for anyone to interact with and engage with businesses online and offline.
For example, you can buy or sell goods on Amazon from anywhere in the world in less than three seconds—and you don’t have to go through Western Union or MoneyGram like you would with Bitcoin or other cryptocurrencies.
These features make Stellar an ideal solution for operating microtransactions over long distances, including remittances and other forms of cross-border money transfer.
Chainlink is a decentralized oracle network that connects smart contracts on the blockchain with data from the real world. It was developed by Sergey Nazarov, along with Steve Ellis. Chainlink’s main purpose is to connect smart contract applications with external resources like data feeds, various web APIs, and traditional bank account payments.
Smart contracts are self-executing contracts that enforce the terms and conditions of an agreement without the need for third parties. They rely on a software program that runs on top of a distributed ledger technology (DLT). Since smart contracts do not require human input to execute and are verifiable through consensus mechanisms, they can be used in many ways related to business transactions and legal agreements.
As a privacy-centric cryptocurrency that was forked from Bitcoin, Zcash uses zk-SNARKS to encrypt transactions. Because of this feature, it’s known as one of the most private cryptocurrencies available today. It has an upper limit of 21 million coins and is lauded for its built-in privacy features by many in the crypto community, including Edward Snowden.
This cryptocurrency is currently worth $58 per coin (as of December 2020) and shows great promise to continue growing in value throughout 2021 and 2022. Its core technologies are cutting-edge and are likely to help it compete with other cryptocurrencies in popularity; its scarcity makes it a safe bet concerning investment.
Even though there aren’t as many vendors that currently accept it as payment yet—something you’ll want to keep in mind if you’re looking for a currency that can be used primarily for purchasing goods—its growth potential alone makes it a worthwhile investment for your portfolio.
This is a good time to invest in these cryptocurrencies. It is necessary to note that while these cryptocurrencies represent excellent investment opportunities, their price point is still volatile and risky. So, exercise caution when investing in them and only purchase what you can afford to lose.