The crypto world is full of many cryptocurrencies and tokens. New ones are entering the market every day. There is an estimation of over 3,000+ coins and growing. However, it’s difficult to know which ones will make it and which ones will be forgotten in the next few years.
To help you keep track of all the great coins out there, we’ve created a guide to some of the top projects in the crypto space. Here’s our list of coins we think have the most potential in 2022.
Ripple XRP
The Ripple is one of the most popular exchanges globally. Moreover, it is making waves in the crypto community. The formation of the company is by a team of developers dedicated to improving the use of blockchain technology.
In addition, Ripple is popular for its fast transaction speeds. Thus, making it a great option for those who want to invest in cryptocurrencies. If you are looking for an easy way to buy and sell digital currency, then Ripple might be the best choice.
XRP has a lot of potentials. However, it still has a long way to go before becoming one of the top cryptocurrencies. The coin ranks number four on CoinMarketCap’s list of top coins by market cap.
However, this ranking could change as more people use cryptocurrency. The potential of Ripple becoming the next big thing is highly likely.
Terra
The Terra is one of the newer cryptocurrency projects around. It’s first proposal was by Daniel Shin, the CEO of a Korean e-commerce company called TMON. Their goal is to build a stablecoin that you can use in an e-commerce environment. This is without the high volatility of other cryptocurrencies like Bitcoin.
Moreover, Terra has several coins that work together to help keep its ecosystem stable. By design, their algorithm adjusts supply and demand to create a stablecoin pegged to the US Dollar.
The core component of their system is Luna. This coin has no value in and of itself. However, you can use it as collateral for assets known as Terra Stablecoins (UST). These assets base on real-world assets, such as other currencies, gold or even commodities like oil or wheat.
Alternatively, Terra Stablecoins (UST) is viable as a payment method by merchants on the e-commerce platform. Also, they can also be traded on exchanges or used in Defi applications.
Solana
The Solana is a unique cryptocurrency. It offers a platform for developers to build dApps. These applications run on blockchain technology. DApps can do anything that an app can do but better.
This is because they operate on blockchain tech. They provide security and reliability that centralized apps just can’t beat. You might be wondering why can’t traditional apps do this? They can’t because the only way to run dApps is through a blockchain network.
Solana offers two things:
- A Proof-of-Stake consensus mechanism
- A programming language called Rust that supports parallel programming
Another popular feature is the Proof-of-Work consensus mechanism. Bitcoin uses this to determine which nodes will add blocks to the blockchain. This mechanism works by having miners solve complex cryptographic puzzles. This is to validate transactions and create new blocks.
Solana’s Proof-of-Stake consensus mechanism works by having validators stake their coins to determine who gets to add blocks to the blockchain. This is better than Bitcoin’s system because it requires less power and is more environmentally friendly. Also, since it requires less computational power (which requires electricity). Hence, it’s much cheaper for small scale crypto miners.
Decentraland
The Decentraland is a virtual reality platform that allows users to create, experience, and monetize their content and applications. The decentralized platform allows people worldwide to buy and develop land plots. Thus, they can later explore, build upon, and monetize.
In the Decentraland platform, users will be able to access an online metaverse comprised of parcels of virtual land that users can buy and sell. These parcels are permanently owned by the community members (via ERC-721 non-fungible tokens) and are not subject to control by a central authority.
Users can create whatever they want on their land. This ranges from passive scenes to interactive applications and games. As long as within the rules set by the Decentraland Foundation and its community. Users have full ownership of their creations and are free to monetize them in any way they choose.
Decentraland is built as a blockchain-based virtual reality world where users own their assets fully transparently without central authorities taking control over them. The project aims to revolutionize the gaming industry. This is by giving gamers real ownership over their digital assets (in-game purchases). It also allows content creators to monetize their work in a decentralized marketplace with no central authority.
Binance Coin
The Binance Coin is one of the fastest-growing cryptocurrencies since its launch in 2017. It started as a token used to access the Binance cryptocurrency exchange. However, it has since evolved into a utility token with several use cases. As of May 2021, Binance Coin is ranked No. 4 in market capitalization at $53 billion and is trading for $526 per coin at press time.
Many investors like Binance Coin because it’s a utility token that offers more than just access to a crypto exchange. It also provides its holders with discounts on transaction fees even with crypto betting sites. You can use it to buy gift cards, pay for travel expenses and more. However, Binance Coin has also performed well in growth in value over time.
At its initial coin offering (ICO) price of $0.1 per coin, Binance Coin offered investors a gain of 9,400% as of May 2021. Investors who bought in at its peak price of $39 per coin in January 2018 gained about 1,300% at press time.
In addition to the benefits provided by holding BNB, investors may want to add Binance Coin to their portfolios because it’s considered a haven asset.
Final Takeaway
There are a ton of other interesting coins out there. However, these probably won’t blow up in the next two years, maybe in 5 years. But for now, We think it’s safe to say that Bitcoin and Ethereum are the top coins for now, with Ripple and Litecoin following close behind.
