Smart contract technology is changing all aspects of the global economy. Smart contract technology refers to programs that are stored on the blockchain and run when predetermined conditions are met. It is the technology that powers programs such as decentralized finance (DeFi), Fungible Tokens (NFT), and metaverse. In this article, we’ll take a look at some of the best smart contract featured cryptocurrencies for the month of December.
Ethereum
Ethereum (ETH/USD) was the first smart contract in the world. Today it is the most popular platform, powering more than 80% of all decentralized autonomous organizations (DAOs). For example, it currently powers over 200 DeFi projects. Some of the biggest DeFi projects working on Ethereum are Compound, Maker, Uniswap, and Aave.
Ethereum is a second-generation blockchain project, so it’s not perfect. First, it uses a proof-of-work (PoW) technology that is known to be relatively slow and energy-inefficient. Indeed, it processes less than 20 transactions per second, and its network is relatively expensive.
Ethereum price is approaching its all-time high of $4,855. It has been in a slow uptrend in recent weeks. Therefore, it would not be surprising if the price rallied to the key resistance at $5,000 in December 2021.
polygon
Polygon (MATIC) is a layer-2 smart contract platform that helps developers optimize their Ethereum applications. The network helps to solve the above mentioned problems. Therefore, users experience higher transfer speeds and lower costs.
In the last few months, more developers are moving to the Polygon ecosystem. Some even build their apps from scratch using this technology. According to DeFi Llama, the total value of DeFi platforms in the network exceeds $5 billion.
MATIC price has been in a slow uptrend over the past few weeks and is currently approaching its all-time high. It seems likely that it will exceed this level this month.
Algorand
Algorand (ALGO) is a smart contract platform that allows developers to create DAOs as in decentralized finance (DeFi). The platform has recently become popular among developers. Indeed, the number of ALGO users has increased and this trend is likely to continue.
Algorand price can be expected to do well in December, the main reason for this expectation is based on techniques. As shown below, the coin has formed a cup and handle pattern. It’s been forming the handle part for the last few months. This model is interpreted as a bullish sentiment in the market and a price increase once again. So, there is a possibility that the price will bounce back soon.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.