Bitcoin has been the flagship cryptocurrency since its inception in 2009. However, many other coins have gained traction and made their mark on the market. For example, some coins have already surpassed the popularity of Bitcoin several times. Additionally, others have strong use cases and strong communities that support them to be successful. So can any of them outperform Bitcoin in 2022?
We believe that at least six cryptocurrencies could dethrone the king’s coin next year. Read on to find out which ones can accomplish this feat!
Ethereum is the second largest cryptocurrency by market capitalization after Bitcoin, and it is also the second most popular. Its story began in 2015 as an alternative blockchain to Nakamoto’s revolutionary invention. Not many paid attention to it at first. However, today it is the leading platform for building non-fungible token (NFT) and decentralized finance (DeFi) applications.
At the moment, Ethereum is slowly but steadily updating to Ethereum 2.0. next version is expected to see its final transition from a Proof of Work (PoW) to Proof of Stake (PoS) consensus mechanism. This historic shift could see its price outperform Bitcoin’s value trend next year.
2. Script (DASH)
Dash has been around since 2014 and is one of several cryptocurrencies currently trying to replicate the success of Bitcoin. However, this digital asset is not just trying to be a better version of Bitcoin. Instead, it aims to become a decentralized payment solution for merchants and consumers.
Dash works in a similar way to the king’s coin, but includes additional features such as built-in privacy and instant transactions. Its market capitalization is currently around $ 2 billion. This makes it a lesser player than larger competitors, such as Ethereum ($ 537 billion) or Bitcoin ($ 1.19 trillion). However, although its value today is relatively small, Dash could see great growth if it can deliver on its promises. So if you want a safe investment in an emerging currency, you should check out Dash.
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3. Ripple (XRP)
Ripple’s XRP is currently trading for just over $ 1.00 per token. However, many analysts believe that its value could reach more than $ 10.00 by 2022.
Financial institutions use XRP to simplify global payments. If banks and other organizations continue to embrace Ripple, its value will only increase. Investing in Ripple could be a good option if you are looking for a stable cryptocurrency investment. Also, you should consider this if you are looking for a digital asset close to traditional adoption.
4. Litecoin (LTC)
Litecoin is a peer-to-peer (P2P) cryptocurrency and open source software project operating under MIT / X11 licenses. Simply put, a cryptographic protocol guarantees the creation and transfer of coins rather than a central authority.
Litecoin was one of the first spinoffs of Bitcoin and one of the first altcoins, starting in October 2011. Since then it has become one of the top 20 cryptocurrencies by market capitalization. Like Bitcoin, Litecoin can be useful for buying products online or in stores that accept them as payment.
However, Litecoin differs from the king’s coin in several ways. And its special features could help it outperform Bitcoin.
First, it allows mining transactions to be approved every 2.5 minutes. Additionally, it has a 2.5 minute faster block generation time, significantly faster than BTC’s 10 minute block load time. Finally, it has a maximum supply limit of 84 million coins, 4 times higher than the limit of 21 million Bitcoins.
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5. NEO (NEO)
While some investors refer to NEO as “China’s Ethereum,” others see it as a competitor for Bitcoin’s supremacy. First, this cryptocurrency supports more programming languages than Ethereum, including Java, PHP, and NET. In addition, its smart economy concept includes support for digital identity and asset registration.
Most of the projects aim to compete with Bitcoin as a smart contract platform. However, NEO aims to be an all-in-one solution for a smart economy. se factors make NEO an attractive option when comparing performance in 2022. refore, many believe that NEO could outperform Bitcoin in five years.
6. IOTA (MIOTA)
IOTA’s goal is to create a machine-to-machine payment system. This should help the Internet of Things (IoT) devices communicate without using centralized financial services or ledgers. Like most other cryptocurrencies, MIOTA uses blockchain technology as its underlying distributed ledger network.
company claims that MIOTA can process 1,500 transactions per second, much faster than seven Bitcoin transactions per second. Furthermore, it aims to provide a new revenue stream for IoT device manufacturers. This should be done by allowing them to sell unused data through a microeconomics that operates with IOTA tokens. If more companies start adopting IOTA for communication between their IoT products, MIOTA could potentially increase the value.
Conclusion: cryptos that could outperform Bitcoin
se 6 cryptocurrencies could achieve the incredible and surpass Bitcoin in 2022 or beyond. refore, they could represent attractive investment opportunities with a potentially high return on investment.
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However, we must not forget that crypto assets are volatile by nature. Simply put, your values can fluctuate wildly for myriad reasons. refore, we believe in always doing due diligence before investing your money in any Bitcoin competitor.