Usually when we talk about crypto, people assume we are talking about bitcoin.
But for some time now, the king of crypto-currencies has seen his market share decline in favor of a new sharp-toothed guard. Granted, bitcoin remains the number one crypto with a 38.95% market share of the total crypto market valued at $1.98 trillion at last check, according to CoinGecko.
Bitcoin is followed by Ether, the native token of the Ethereum blockchain, with a market share of 18.51%.
Bitcoin and Ether have always taken center stage in the crypto galaxy, that goes without saying. But the cryptos we are going to tell you about deserve your attention.
We also want to remind you that crypto is a very volatile asset. Their prices can spike suddenly and drop minutes later without a logical explanation. The market does not often move according to fundamentals.
These cryptos are the result of a project whose goal is to solve one or more problems related to the crypto/web3/metavers galaxy. You can read about the project on their websites and get an overview of who their investors are.
Solana is the native token of the Solana blockchain. This platform allows, thanks to its technology, developers to create different applications. Whether it’s applications for decentralized financial services (dApps), non-fungible token (NFT) projects or projects related to web3, the new iteration of the internet that will replace web2, the centralized internet that we currently know.
Web3 promises an internet where users will have control of their data and not large groups like Facebook, Google or Apple.
Solana also boasts of being the fastest blockchain. That is to say, it is possible to carry out operations in an ultra-fast time. This is important because Bitcoin and Ethereum blockchains are known to be very slow. Additionally, Solana says it charges low transaction fees, another advantage over Bitcoin and Ethereum.
These different points are important because they are attractive to developers. The more people use Solana, the better it is for the platform token because the usefulness of the blockchain also guarantees its future, at least in the medium term.
Solana is however vulnerable to hacker attacks. Hackers are attacking bridges, an infrastructure that wants to make the Solana system speak to the Ethereum blockchain, for example.
SOL’s market share is currently 1.73%, but it is expected to grow.
The Cardano blockchain offers almost the same services as Solana. However, the system claims to be faster.
Its native token is Cardano or ADA.
Scroll to continue
ADA’s market share is currently 1.54%.
“Cardano restores trust in global systems – creating, through science, a more secure, transparent, and sustainable foundation for people to transact and trade, systems to govern, and businesses to grow,” indicates the platform.
The Avalanche blockchain offers almost the same services as Solana and Cardano. However, the system claims to be faster.
Its native token is Avalanche (AVAX).
AVAX’s market share is currently 1.06%.
“Launch Ethereum dApps that confirm transactions instantly and process thousands of transactions per second, far beyond any decentralized blockchain platform today,” Avalanche boasted.
He also said that he “deploys blockchains that meet the needs of your own applications. Build your own virtual machine and dictate exactly how the blockchain should work.
Polkadot presents itself as the blockchain of blockchains or a “para chain”. Basically, this allows blockchains to talk to each other. Polkadot says it has achieved interoperability between blockchains. Basically, it makes it possible to switch from one blockchain to another without a hitch.
“Polkadot allows cross-blockchain transfers of any type of data or asset, not just tokens,” he said. “Connecting to Polkadot gives you the ability to interact with a wide variety of blockchains in the Polkadot network.”
Its native token is Polkadot (DOT).
DOT’s market share is currently 1.03%
The Polygon blockchain offers almost the same services as Solana, Cardano and Avalanche. However, the system claims to be faster. Its native token is Matic (MATIC).
MATIC’s market share is currently 0.48%.
The platform says it “allows developers to build scalable, user-friendly dApps with low transaction fees without ever sacrificing security.”
We wish to give thanks to the writer of this post for this awesome content
Five Cryptos You Should Know
You can view our social media profiles here and other related pages herehttps://metfabtech.com/related-pages/