Bitcoin had attracted investors when it went up to $60,000. That is an achievement for the biggest and first cryptocurrency in the world explains Brian Colombana . It’s essential to remember that Bitcoin had a worth of approximately 9 cents in 2010.
Today, several cryptocurrencies have ventured into the market. And a few of them gets used as a currency. The others have set their sights on the leading in the domain of decentralized applications, known as the dApps. A few of the cryptocurrency players exist for assisting a virtual world that they have generated. So, are you wondering which is the next Bitcoin? If yes, Brian Colombana has the options lined up for you.
Last year, Solana soared as the users and developers flocked to the blockchain. The Electric Capital Report, the developers, went up close to fivefold. It is an essential factor as it highlights the network is walking on the path to provide more applications. Today, Solana is making a name for itself in the domain of NFTs (Non-fungible tokens). It is certificates of ownership that get used for collecting sports or art souvenirs. Also, Solana is the second-largest player by sales volume. Today, owing to its transaction speed, Solana is processing above 2,500 transactions every second.
Blockchain’s network encounters a certain issue. And that’s attaining a high-speed security level and decentralization. At times, success is a crucial outcome in a lagged performance in one of the two. Fantom can address this issue. The manner of the blockchain in validating transactions assures of the speed. It’s because the consensus mechanism proves to be asynchronous. It enables the validators to affirm blocks at multiple times.
Simultaneously, Fantom maintains security and decentralization. That’s via the consensus protocol, which enables anyone to leave or join anytime. Every validator is considered to be equal. Today, the users appreciate the speed of Fantom and the cost of making use of the network. The transactions attain completion in a second and cost less than 1 cent. The transactions for Fantom increased to an everyday high of over 1.8 million in September. However, sometimes, everyday transactions surpass Ethereum.
Avalanche is another blockchain popular for its speed. And this network can process 4,500 transactions every second. These transactions get completed within less than two seconds. Are you wondering what the reason for this speed is? According to Brian Colombana it’s the structure. Three chains comprise the blockchain. Here the X chain indicates the asset exchanges, the C chain is accountable for intelligent contracts, and the P chain can coordinate validators. It helps to streamline the functions and brings down congestion that can take place when all happens in a primary network.
The other huge benefit of Avalanche is that it is compatible to Ethereum. It is essential considering the popularity of Ethereum in the domain of cryptocurrency. Hence, for instance, any developer can launch a dApp developed in the Avalanche and Ethereum language.
If you are keen to invest in cryptocurrency, you can read about these three options and arrive at an intelligent and informed decision.