Discovering the Top 10 Cryptocurrencies Beyond Bitcoin
If you want to diversify your crypto portfolio, you’ll need to find coins that offer more than just a quick buck. You’ll also need to look for coins with futuristic blockchain technology that can keep its value for the long haul.
Whether you’re an experienced investor or a newcomer to the cryptocurrency world, there are some interesting coins out there that are worth looking into. Here are ten of the best ones to consider investing in in 2023.
1. Polkadot
Polkadot is a blockchain network that launched in May 2020 and has since gained tremendous traction among investors, developers, and traders. It offers a number of benefits that are attracting new users, including limitless scalability, an adaptable consensus mechanism, and cross-chain interoperability.
The platform uses sharding, which partitions the network’s computational load and stores data across multiple shards for efficient scaling. It also supports hybrid consensus models, staking mechanisms, and state-transition functions.
2. Tether
Tether is a cryptocurrency that uses a system of tokens pegged to the dollar. This makes it a good investment for those who need stability and liquidity.
Tether also has a number of benefits for exchanges, individuals and merchants. It allows users to exchange their cryptocurrencies for tether, making transactions easy and cost-effective.
3. Litecoin
Litecoin is an open source global peer-to-peer cryptocurrency network that enables users to send payments worldwide. It uses a proof of work (PoW) consensus algorithm and hashing function called Scrypt, which is designed to be less susceptible to hardware brute force attacks.
Founded by Charlie Lee, Litecoin was created to address Bitcoin’s slow transaction speed and lack of scalability..
4. Ethereum
Ethereum is a decentralized platform that allows users to build and deploy smart contracts. It was created by Vitalik Buterin, a Russian-Canadian programmer.
It also features a network of automated programs that reach a consensus on the validity of transaction information. This makes it very secure.
While Bitcoin was designed to serve only as a currency, Ethereum has a much wider range of use cases. This could mean that it will be a more useful asset for investors in the long run.
5. Dogecoin
It has since become a highly popular crypto with a growing community of users and supporters.
It is a peer-to-peer currency that runs on blockchain technology. It also uses a proof-of-work consensus mechanism to validate transactions. Miners earn Dogecoin in return for their work.
6. Tethercoin
Tether is the world’s third-largest cryptocurrency by market cap, but it’s also one of the most controversial. It’s often criticized for a lack of transparency around its reserve funds.
Stablecoins, such as Tether, are backed by real-world assets to maintain their values, like the US dollar. However, they can be volatile compared to other cryptocurrencies due to market fluctuations and interest rates.
7. EOS
Blockchain is a decentralized, distributed digital ledger that records transactions across computers. It is used for a variety of applications including cryptocurrency and smart contracts.
EOS is an enterprise-grade business operating system that is based on time-tested processes and principles, not business management theories or “flavours of the month”. Successful companies worldwide are using professional EOS Implementers to get all they want from their businesses.
8. Binance Coin
Binance is a crypto exchange that emphasizes security, speed, and customer service. It has a clean user interface and an order matching engine that can process up to 1.4 million orders per second.
Its team is stacked with experts in finance, trading, and blockchain technology. It also offers a range of in-depth market research content to upskill traders.
9. Stratis
Stratis is a blockchain-as-a-service (BaaS) platform that provides customizable distributed ledgers for organizations. Its one-click deployment process makes it easy to deploy private blockchains for organizations using cloud computing.
The Stratis platform includes a feature-rich toolset to lower the barrier to entry for new developers learning blockchain concepts with code examples and reference implementations. It also provides an ecosystem that nurtures a global C# and.NET developer community to prepare them for in-demand blockchain projects.
10. IOTA
There are a number of cryptocurrencies that have seen their price and popularity grow considerably in the last year. If you’re looking for a way to diversify your crypto portfolio, these coins may be right for you.
IOTA is a cryptocurrency that uses the Tangle technology to solve some of the scalability issues that have plagued Bitcoin and other blockchain-based currencies. The technology retains the security of a blockchain but eliminates the need for blocks.