According to investment expert Collin Plume, some of the current cryptocurrencies are just garbage, others have limited utility, yet others don’t do much, but they stick around as the Kardashians of crypto and save money for a reason. The expert also states that there are cryptocurrencies that will change the rules of the game and defines them as the Facebooks and Apples of altcoin projects. Investment expert Collin Plume’s assessments and altcoin choices in his own words cryptocoin.com We have prepared for our readers.
“We want every cryptocurrency to go to the moon”
The problem with second-guessing the gains is that the vast majority of the 10,000 cryptos in existence fly under the radar, with only the most popular ones coming to the surface where they can be seen. From an investment perspective, it’s nearly impossible to predict how an obscure altcoin like the Shiba Inu might suddenly grab the attention of the investment community or how far it will go.
But unlike stocks, bonds or currency predictions, crypto requires a different way of thinking. He needs to dream. It takes an entirely different mindset to imagine something like the programmability of money. Taking such thinking a step further and seeing how we can implement programmable money and how new financial systems can win or lose is a big part of the challenge when it comes to choosing altcoins for your portfolio.
Some major altcoin projects that could explode in 2022, according to the expert
Bitcoin (BTC), of course, remains the ‘Grandfather’ of them all. Launched more than a decade ago, the ups and downs of Bitcoin have riveted millions around the world. Dozens of commentators have thrown their hats in the circle, giving Bitcoin price predictions of between $100,000 and $250,000 per Bitcoin by the end of 2022.
Ethereum (ETH) is a decentralized software platform. It allows the creation of smart contracts and decentralized applications (dapps) without third-party interference, fraud, downtime or control. Regardless of religion, ethnicity or nationality, anyone can use Ethereum’s decentralized financial platform.
Launched in 2011, Litecoin (LTC) is one of the cryptos that has been called ‘from silver to Bitcoin’s gold’ because of its similarity to Bitcoin. Charlie Lee, a former Google developer and MIT graduate, is the mastermind behind Litecoin.
Cardano (ADA) was founded by engineers, mathematicians and cryptography experts. Cardano is a ‘Ouroboros proof of stake’ cryptocurrency. The altcoin project began tracking down issues with the way Ethereum developed. Due to this intensive testing approach, Cardano appears to have a distinct advantage over its Proof of Stake (PoS) counterparts and other major cryptocurrencies. Known as the ‘Ethereum killer’, Cardano is said to be capable of even more than Ethereum.
Polkadot (DOT) is a PoS cryptocurrency designed to enable blockchain interconnection. Its protocol bridges permissionless and permissioned blockchains as well as oracles. This allows systems to collaborate. Polkadot’s relay-chain allows for this network compatibility. Unlike Ethereum, developers can create their own Blockchain while also using Polkadot’s security.
Bitcoin Cash (BCH) is one of the first and most famous hard forks of classic Bitcoin. Due to the decentralized world of digital currencies, large-scale changes to the underlying code of a token or cryptocurrency must be accepted by the majority of users. BCH was born from one of these splits in August 2017 with the concept that larger blocks can carry more transactions, thereby increasing transaction speed.
Stellar Lumens (XLM) is an open Blockchain network that connects financial institutions for larger transactions. As a result, bank and investment transactions involving many intermediaries, which cost a lot of money and take days, can now be done instantly, without intermediaries and at minimum cost. The cross-border benefit of Stellar means it can be used by anyone, not just the corporate businesses it targets.
No list would be complete for 2022 without a look at Dogecoin (DOGE), the first ‘meme token’. Dogecoin started as a joke in 2013 by Billy Markus and Jackson Palmer to mock the reckless speculation and naivete of the cryptocurrency market. “Doge” caught on and hit $0.71 after Elon Musk, a big fan of the coin, saw a quick dollar and promoted the coin in his appearance on Saturday Night Live.
Other altcoin projects that can be evaluated according to the expert
The investment expert lists other altcoin projects that look promising for the coming year and the future as follows:
- Binance Coin (BNB)
- Shiba Inu Coin (SHIB)
- Tether (USDT)
- Monero (XMR)
- Polygon (MATIC)
- Algorand (ALGO)
- Chainlink (LINK)
- USD Coin (USDC)
- Avalanche (AVAX)
- Left (LEFT)
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