It’s been more than a decade since we’ve been experiencing the buzz of cryptocurrencies. While Bitcoin started the crypto wave and became synonymous with cryptocurrencies, many more digital currencies are currently showing great potential. Out of 7,000 cryptocurrencies, experienced investors are betting on three cryptocurrencies, Bitcoin Cash, Cosmos and Polkadot. Here is a detailed analysis of cryptocurrencies to help you make the right investment.
1. Bitcoin Cash
Cryptocurrencies like Bitcoin and altcoin work with blockchain technology. Blockchain is a revolutionary new technology that stores all information about cryptocurrency transactions in “blocks” of data. As Bitcoin’s popularity started to increase, these blocks (only 1 megabyte of data) filled up and caused transactions to slow down and prices to increase. To reduce cost and time, some Bitcoin developers came up with the idea of building another Bitcoin platform . In 2017, Bitcoin Cash became. Bitcoin Cash works with blockchain technology that can store up to 8 MB of data, allowing for fast transactions and low fees. In terms of price, Bitcoin Cash has not yet reached its full potential, but its scalability is showing potential for growth. In early 2021, the BCH was selling for less than $500 and has recently seen a $1,500 increase.
Cosmos is one of the most enthusiastic projects in the cryptocurrency space. The Cosmos network allows independent blockchains to transfer properties and communicate with each other over the website via Inter Blockchain Communication. Compared to other networks, Cosmos has a smaller carbon footprint, making it one of the most comfortable cryptocurrency platforms. So far, Cosmos Hub has secured more than $ 120 billion in assets. The company behind this brand is planning new innovations, such as a network-specifically defined exchange, which will add more value and provide an edge to Cosmos ’investment portfolio. As expectations grow, this cryptocurrency has a bright future.
According to some market experts, the best cryptocurrency to focus on is Polkadot. Polkadot predicts the development of blockchain technology that will facilitate much of the progress toward Internet crackdown. What makes Polkadot diversified into classes is its speed, safety and control. Its blockchain network has the potential to meet global standards, as evidenced by its current position. At the time of this writing, Polkadot is trading at $10.78, with a market cap of $10 billion, the tenth highest in the cryptocurrency market.