While Solana keeps investors amused, other Altcoins tend to follow its suit and smash their respective highs very soon
Altcoins race not only aganist Solana but also against industry leaders like Bitcoin, and Ethereum
Solana has impressed crypto enthusiasts running its independent league. SOL price is $181.13, while the 24-hour high is at $193.31, the 24-hour trading volume is at $7,134,269,678. The data provided is at press time.
However, other less known altcoins have levelled up their game, and have got the potential to undergo SOL’s bull run. We will be listing the potential altcoins and their capabilities, that make them worthy opponents of not just SOL, but the industry leaders as well.
Fantom is an open-source smart contract platform for Dapps and digital assets. The platform enables faster transactions and costs a fraction of a cent. FTM is based on the Proof-of-Stake model, hence providing a high amount of security, it is highly scalable, EVM compatible, and developer-friendly, as the user’s can start building on Fantom using Solidity.
Fantom offers a new De-Fi experience, which is the all-in-one De-Fi enabling consumers to mint, trade, lend, and borrow digital assets directly from the wallet, while charges being near zero and instant transactions.
The ecosystem has received vital upgrades. Fireblocks has added support for the FTM mainnet and ERC-20 tokens. Both of which are now available to 500+ banks, and other financial institutions using Fireblocks. Another important update is a simple yield aggregator, which compounds the deposited tokens into more tokens.
Algorand is a decentralized blockchain-based network that supports a wide range of applications. The system is secure, scalable, and efficient. ALGO aims to speed up transactions and improve the platform’s efficiency. The ecosystem offers faster transactions, as well as no mining, as it is based on the Proof-of-Stake model.
Algorand is now carbon negative since 2021, as per its official website. The platform empowers sustainable NFT adoption, national initiatives, and improved De-Fi. Consecutively, the Colombian government selects Auna ideas vital pass, powered by the Algorand ecosystem, while El-Salvador signs an agreement for the government’s blockchain to be based on ALGO.
Accordingly, the De-Fi offers users to earn a yield on the crypto without depositing it in a bank, and direct FIAT on-ramping to a non-custodial high yield savings account. Steps are being taken towards aiming to bridge the gap between De-Fi and Ce-Fi.
Cosmos, which makers term as the internet of blockchains, is an ecosystem of interconnected apps and services built for decentralized applications. The platform offers a 99% lower carbon footprint and the transaction fee is $0.01.
The platform offers a gravity bridge, which will be the most secure, efficient, and decentralized cross-chain bridge to Ethereum. It enables assets to flow into the Ethereum ecosystem and vice-versa. Cosmos hub is a blockchain that provides important services to interchain.
Cosmos offers a marketplace, which hosts DEX, swaps assets across interchain while charging low fees and enabling faster transactions. The router enables the connection of chains by inter-blockchain communication with compatible chains and operating decentralized bridges with chains like ETH and BTC.
Polkadot is an open-source multichain platform that facilitates the interoperability of a wide range of blockchains with each other. It offers cross-chain transfer of all data types including tokens. The ecosystem has 4 pivotal components which include the following.
- Relay chain: The chain helps in creating consensus.
- Parachain: Are independent chains that can have their own tokens and be optimized for specific uses.
- Parathread: These are similar to parachains, but offer flexible connectivity.
- Bridges: Enables parachains and parathreads to be connected and communicate with external blockchains.
Summing up, the above-listed altcoins are from platforms offering crucial capabilities to the ecosystem, and other applications to be based on. The coins have performed considerably well similar to what we have seen with Solana. The ROI also seems promising for the aforementioned altcoins. No wonder, investors are looking towards ALT coins.