With cryptocurrency in a bear market, it is only reasonable to be skeptical about investing. Cryptocurrencies are relatively new, gaining widespread acceptance and lacking adequate regulatory framework. As they become increasingly accepted, and a regulatory framework is in place so that investors know how the laws might impact their investment, the price of digital currency may stabilize; thus, innovative projects such as Cardano and Solana seem like great options for investing, especially long-term.
Although cryptocurrencies remain volatile, which is especially emphasized by the drop in value of the whole crypto market for most of 2022, they remain viable assets.
The Cardano project began in 2015, intending to resolve some of the issues that Ethereum’s Proof-of-Work consensus methodology had caused. Charles Hoskinson, a former co-creator of Ethereum, is the official founder of Cardano.
Cardano’s development is distinguished from that of other cryptocurrencies by its reliance on peer-reviewed research and evidence-based methodologies. While most cryptocurrency industry evolves quickly, Cardano takes the opposite approach. It adopts a more systematic, slower approach. The advantage is that engineers will be more likely to notice potential dangers.
Solana utilizes a unique consensus process known as Proof-of-History, which makes the Network highly fast and efficient.
Solana accomplishes what Ethereum 2.0 promises, but at a 20-fold faster rate. It has a throughput of 50,000 transactions per second at layer one and can scale up to a million transactions per second. Furthermore, Solana has virtually no transaction fees.
Solana is a very effective, fast, censorship-resistant, and highly secure blockchain. It uses the permissionless feature of blockchain technology to deliver effective DeFi (decentralized finance) solutions.
Solana does have several problems, though. The platform has historically struggled with stability concerns, which may be tarnishing its image.
They are both great options as they are viable long-term.
Solana (SOL)
Solana is a functional open-source project that utilizes blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. SOL is the native cryptocurrency that oversees all transactions on the Network. Although the idea behind the Solana project began five years ago, the official launch of Solana was in March 2020.
Solana is one of the hottest crypto tokens rising rapidly over the last year. The price of the coin has been continually reaching new all-time highs, gaining the attention of investors worldwide. If you had invested $100 in Solana when it launched in 2020, when it was trading at $0.78, you would have made over 410000% return.
According to Solana’s price prediction and forecast, the SOL coin is expected to increase by over 440% in 2022 and reach above $450 per token.
Cardano (ADA)
Another top crypto to invest in this year is Cardano. This crypto is a popular, fast-growing blockchain technology that stands for secure and sustainable blockchain with ground-breaking use cases. Cardano can redistribute power from unaccountable structures to the margins.
Its native cryptocurrency ADA has recently acquired expanded attention as one of many proof-of-stake blockchains under construction in the crypto environment.
The Cardano project defines its protocol as a blockchain of the third generation intended to enable intelligent contracts with future applications of quality control and governance of the supply chain.
Investing in Cardano in 2023 is a wise choice because it is a very open and inviting environment that works the same for all. There are no barriers when it comes to trading and initially entering. All one needs to enter this market is some deposit, and one is good to go within a short period.
Many experts suggest that the Cardano coin will bloom in the coming years, and so will the entire crypto world. The digitization of money could have a massive impact on the market; hence, it’s only suitable for crypto coins such as Cardano to rise in power.
The future of our civilization is interwoven with blockchain technology and cryptocurrency. Digital currency is gaining mainstream traction as more organizations across diverse industries adopt its use while paving the way for new sectors such as crypto commerce.
Platforms like Exeno, a crypto commerce platform listed on Binance pay, allow users to buy goods using cryptocurrency without first converting funds to fiat, leveraging on mainstream acceptance of cryptocurrency.
Crypto gives the oppressed and disadvantaged a platform, making it an invaluable tool in the fight against financial oppression with causes like #CryptoForPeace. A BIC initiative that promotes and facilitates crypto-related donations to support individuals worldwide that may have lost their homes due to conflicts, wars, or intergovernmental disagreements, further reducing its use to fight financial oppression.
Although investing in crypto is investing in the future, one still must be wary of its volatile nature. Therefore due diligence is required to make informed decisions on trading any cryptocurrency.
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