Advisory giant Fool analysts evaluate the best smart contract cryptos that should be in every portfolio. Let’s examine the 3 altcoin projects on Binance’s list with the expectations of experts.
Analyst Neil Patel chooses Cardano as a PoS altcoin giant
Cardano was launched in 2017 by Ethereum co-founder Charles Hoskinson. It registered the ATH level at $3.10 in September 2021. It is currently down 85% from this level. However, as of August 24, it had a massive total return of more than 1,700%. Meanwhile, Cardano operates two layers while running a PoS consensus mechanism. Cardano Computing Layer allows decentralized applications (dApps) to run through smart contracts. The Cardano Settlement Layer is where transactions are verified. This innovative setup helps speed up transaction processing times by allowing network congestion to be offloaded from the main Blockchain.
Cardano’s development process is unique in that it uses a research-driven and progressive approach. This approach helps minimize errors by considering possible risk factors.
As of this writing, Cardano has over 1000 different decentralized applications running on its network. This shows it appeals to developers working to build services that benefit Blockchain. As for price predictions, analyst Neil Patel thinks that the ADA price could break through the psychological resistance of approximately 117% if Cardano continues to make progress with its development roadmap and dApp ecosystem growth.
Michael Byrne discusses why Solana was the better choice
Solana is an attractive platform for smart contracts, thanks to the network’s speed and low fees. SOL can achieve a transfer rate of about 65,000 transactions per second. Solana also has sub-second processing times. This high speed and capacity has led Bank of America analysts to say that Solana could potentially become a “Visa”.
Solana achieves this speed by using a process called Proof of Stake (PoH), in which it orders and groups transactions before processing via consensus of Proof of Stake. The Solana network had around 2,000 validators as of July. Much more so than any other smart contract platform other than Ethereum. This makes it more decentralized than other layer-1 blockchains.
These features combine to make Solana an attractive platform for developing apps on it. According to data from crypto research firm Messari, the number of unique programs on Solana has exploded, with more than 1,000 programs in daily use as of July, down from less than 200 in August last year.
RJ Fulton evaluates a solution-oriented altcoin project
VeChain originally started as an Ethereum-based ERC20 token. However, it switched to its own network in 2018. Since then, it has been developing Blockchain solutions to solve business challenges securely and instantly. VeChain customers use their smart contract-based solutions to track, automate and account for their products in their supply chain. In a world where products change hands many times, VeChain offers an invaluable solution to companies in various industries.
It’s a growing list, but VeChain has already partnered with some of the world’s most important brands. Automaker BMW uses VeChain to manage data such as mileage, repairs, and additional services for its vehicles. Walmart in China uses VeChain to let consumers know exactly where their food is coming from. Pharma giant Bayer is leveraging VeChain to create an app that tracks clinical drugs as they are procured. Luxury brand Givenchy adds microchips to its bags so owners can verify their authenticity. The world’s #1 electric vehicle manufacturer BYD uses VeChain to track carbon credits for drivers.
The future is bright for VeChain as the world becomes more digital. If you want to diversify your smart contract Blockchain assets, VeChain is one of the permanent names in the portfolio for the long term, according to analyst RJ Fulton. cryptocoin.comAs you followed, VET price is currently trading at $0.02451.
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