Altcoin projects have brought big gains to their investors in the previous bull market. While 2022 will recapture these gains, 2023 could be the year that the crypto winter is over and interest is reawakening. In this article, we have included 7 Ethereum (ETH)-like projects that can be followed in April, which maintain their volume despite all the challenging conditions of the last months.
Experts pick Ethereum and these 7 altcoins for April watchlist
Polygon (MATIC)
Polygon (formerly Matic Network) is a Layer 2 scaling solution for Ethereum that aims to address some of the key challenges faced by the Ethereum network, such as high fees, slow transaction times, and limited scalability. It is a network of interconnected Blockchains, known as side chains, built on Ethereum.
Polygon provides a set of tools and infrastructure that allows developers to build and deploy scalable, decentralized applications (dApps) on their own network. It also supports interoperability between different networks, allowing users to easily transfer assets and data between different networks.
Cardano (ADA)
Cardano is a decentralized Blockchain platform created by Input Output Hong Kong (IOHK) and launched in 2017. It uses a PoS consensus algorithm called Ouroboros that allows users to stake ADA to participate in the verification of transactions on the network. This approach is more energy efficient and cost-effective than the proof-of-work (PoW) algorithm used by Bitcoin and some other cryptocurrencies.
Ripple (XRP)
Ripple is a blockchain-based payment protocol created by Ripple Labs in 2012. XRP is a cryptocurrency that facilitates transactions on the network and uses transaction fees. Unlike Bitcoin, which uses a PoW consensus algorithm, the Ripple network uses a consensus algorithm called the Ripple Protocol Consensus Algorithm (RPCA), which is based on a network of validators that confirm transactions.
Ripple has gained attention for its partnerships with major financial institutions and payment providers, including Santander and American Express, which use the Ripple protocol to facilitate cross-border payments and shorten payment times. It also offers a set of tools and services to help businesses and developers build and deploy applications on its network, including the RippleNet payment network and the Xpring developer platform.
Zilliga (ZIL)
Zilliqa is one of many little-known altcoin projects. The main attraction of the project is that it solves the problem of scalability in crypto, which is a major issue for crypto in general. Scalability simply means the ability to process large amounts of data in a short period of time. Obviously, any network, whether blockchain-based or not, can benefit from high throughput.
Zilliqa aims to increase scalability through sharding. Sharding or sharding is the scattering or partitioning of a database among multiple computers to better handle a particular workload. Theoretically, the more computers that process a given amount of data, the faster the data can be processed.
Zilliqa aims to rival payment giants Visa and Mastercard. If this project can make significant progress towards these aspirations, its price could rise drastically. For now, ZIL produces variable fluctuations that risk-loving traders can take advantage of.
The Graph (GRT)
The Graph is in many ways the most important speculative altcoin project for the current market. The project combines AI and crypto to query Blockchain networks. The purpose of doing this is to make as many Blockchains searchable as possible by indexing this data. In other words, it’s trying to build a large, searchable, indexed blockchain repository. Similar to what Google does for internet search.
So, never ask “What is the Google of Blockchain?” If you’ve ever wondered, Graph is the answer. Graph allows anyone to publish Blockchains through APIs (Application Program Interfaces) they refer to as sub graphs.
Anyone can query over these sub graphs using GraphQL to get data from this Blockchain. In conclusion, The Graph is another project that is trying to bring together massive amounts of Blockchain data for complete decentralization. However, its price has already tripled in 2023. It is currently among the notable AI projects.
Ethereum (ETH)
Ethereum also had a productive first quarter, rallying nearly 50% in the first three months of the year, doubling its 2022 low. It is the second largest cryptocurrency after Bitcoin with a market capitalization of approximately $224.5 billion.
Ethereum is also one of the most traded cryptocurrencies, with an average daily trading volume of $8.6 billion. This volume makes Ethereum the largest altcoin project for day trading.
Ethereum is faster than Bitcoin when it comes to transactions, and its smart contracts offer real-world solutions as the technology continues to evolve.
Dogecoin (DOGE)
No matter how ‘useless’ Dogecoin is, it is on the list of the best altcoin projects for day-to-day transactions due to its wide awareness and abundant liquidity. After affiliated cryptocurrencies Bitcoin and Ethereum, Dogecoin is next on the list for daily trading volume.
Tesla and Twitter CEO Elon Musk’s support for the altcoin project should not be ignored. In fact, it has recently integrated the logo into the Twitter platform, quickly adding $4 billion to the token’s market cap. cryptocoin.com We have included behind the scenes of the latest developments in this article.
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