FinancialCentre Broker Analyses Big Cryptocurrencies to look out for in 2022
London, UK, 4th Dec 2021, ZEXPRWIRE, One of the most important financial tech trends of the last five years has been the explosion in popularity and value of cryptocurrencies such as Bitcoin. A cryptocurrency is a digital asset that uses cryptography to secure its transactions, control the creation of additional units, and verify the transfer of assets among parties.
Cryptocurrencies have several key advantages, from being almost infinitely divisible to being easily transferable through blockchain technology. FinancialCentre broker Daniel Klein says, there are only a few cryptocurrencies that have been able to break into mainstream awareness and adoption. In 2022, cryptocurrencies will be considered not just an alternative asset class but a legitimate contender. Here’s our pick of the cryptocurrencies that will look like snoozefest next to Bitcoin in 2022.
Bitcoin (BTC)
Although it is currently at the top of the tree, Bitcoin has several issues that could hamper its continued growth into 2022 and beyond. These include regulatory uncertainty and some concern over long-term viability caused by the high energy consumption of Bitcoin mining.
Ethereum (ETH)
Ethereum is currently the second-largest cryptocurrency by market cap and is often seen as Bitcoin’s main rival. Ethereum has some advantages over Bitcoin, including a more versatile scripting language that allows for the development of decentralized applications.
Litecoin (LTC)
Litecoin is a Bitcoin fork that was created in 2011 to address some of the issues with Bitcoin. Litecoin has faster transaction confirmation times and a higher maximum number of coins. It also has a more active development community than Bitcoin.
Bitcoin Cash (BCH)
Bitcoin Cash is a hard fork of Bitcoin that was created in 2017 to address the issue of scalability. Bitcoin Cash has a larger block size than Bitcoin, allowing more transactions to be processed per second.
XRP
Ripple is a payment protocol and cryptocurrency that was designed to facilitate cross-border payments. Ripple has been successful in signing up several banks and financial institutions as partners.
Cardano (ADA)
Launched in 2017, Cardano is a decentralized blockchain platform that aims to offer more advanced features than its rivals. This includes the ability to create smart contracts and host decentralized applications.
EOS (EOS)
Also launched in 2018, EOS was created by Ethereum founder Dan Larimer and claimed to offer faster transaction confirmation times and lower fees than Ethereum.
IOTA (MIOTA)
Originally issued in 2015, IOTA ranks as the 11th largest cryptocurrency according to market cap. IOTA is a platform for use in the Internet of Things with zero-fee transactions and no limit on the number of transactions per second.
Dash (DASH)
Dash was originally launched as XCoin in 2014 and then changed to Darkcoin before settling on its current name. It is a next-gen version of Bitcoin that offers faster confirmation speeds, improved security, decentralized governance, and optional anonymous transactions.
NEM (XEM)
NEM was launched in 2015 as a peer-to-peer cryptocurrency. NEM’s key feature is its “Proof-of-Importance” algorithm which allows users to receive a reward based on their importance score, determined by how many coins have been tied up in an account over 30 days.
Lisk (LSK)
The Lisk platform was launched in 2016 and focuses on user accessibility. Lisk offers some tools to help developers build applications, including a custom token and app platform, JavaScript support, and APIs.
Binance Coin (BNB)
Launched as an ICO in 2017, Binance is currently the world’s largest crypto exchange by trading volume. Binance Coin acts as a “ticket” for accessing services on the Binance platform.
RaiBlocks (XRB)
Launched in 2015, RaiBlocks was rebranded as Nano in January 2018. Although it is another Bitcoin clone that uses a proof-of-work algorithm, Nano has some features not found with other altcoins, including zero fees and an unlimited supply.
Cardano (ADA)
Launched in 2017, Cardano is a decentralized blockchain platform that aims to offer more advanced features than its rivals. This includes the ability to create smart contracts and host decentralized applications.
Litecoin (LTC)
Litecoin is a Bitcoin fork that was created in 2011 to address some of the issues with Bitcoin. Litecoin has faster transaction confirmation times and a higher maximum number of coins. It also has a more active development community than Bitcoin.
Bitcoin Cash (BCH)
Bitcoin Cash is a hard fork of Bitcoin that was created in 2017 in order to address the issue of scalability. Bitcoin Cash has a larger block size than Bitcoin, allowing for more transactions to be processed per second.
Ripple (XRP)
Ripple is a payment protocol and cryptocurrency that was designed to facilitate cross-border payments. Ripple has been successful in signing up many banks and financial institutions as partners.
Cardano (ADA)
Launched in 2017, Cardano is a decentralized blockchain platform that aims to offer more advanced features than its rivals. This includes the ability to create smart contracts and host decentralized applications.
EOS (EOS)
Also launched in 2018, EOS was created by Ethereum founder Dan Larimer and claimed to offer faster transaction confirmation times and lower fees than Ethereum.
IOTA (MIOTA)
Originally issued in 2015, IOTA ranks as the 11th largest cryptocurrency according to market cap. IOTA is a platform for use in the Internet of Things with zero-fee transactions and no limit on the number of transactions per second.
Dash (DASH)
Dash was originally launched as XCoin in 2014 and then changed to Darkcoin before settling on its current name. It is a next-gen version of Bitcoin that offers faster confirmation speeds, improved security, decentralized governance, and optional anonymous transactions.
NEM (XEM)
NEM was launched in 2015 as a peer-to-peer cryptocurrency. NEM’s key feature is its “Proof-of-Importance” algorithm which allows users to receive a reward based on their importance score, which is determined by how many coins have been tied up in an account over 30 days.
Lisk (LSK)
The Lisk platform was launched in 2016 and focuses on user accessibility. Lisk offers a number of tools to help developers build applications, including a custom token and app platform, JavaScript support, and APIs.
Binance Coin (BNB)
Launched as an ICO in 2017, Binance is currently the world’s largest crypto exchange by trading volume. Binance Coin acts as a “ticket” for accessing services on the Binance platform.
RaiBlocks (XRB)
Launched in 2015, RaiBlocks was rebranded as Nano in January 2018. Although it is another Bitcoin clone that uses a proof-of-work algorithm, Nano has some features not found with other altcoins, including zero fees and an unlimited supply.
Disclaimer: Our content is intended to be used for informational purposes only. It is very important to do your own research before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on this article and wish to rely upon, whether for the purpose of making an investment decision or otherwise.
