Cryptocurrencies are gaining popularity for providing seamless transaction payments within a very short period.
Bitcoin continues to lead the pack of cryptocurrencies in terms of market capitalization, user base, and popularity. Other virtual currencies such as Ethereum are helping to create decentralized financial (DeFi) systems. The cryptocurrencies modeled after Bitcoin are collectively called altcoins, and in some cases, shitcoins, and have often tried to present themselves as modified or improved versions of Bitcoin. Some altcoins have been endorsed as having newer features than Bitcoin, such as the ability to handle more transactions per second or use different consensus algorithms such as proof of stake. Though some of these currencies may have some impressive features that Bitcoin does not, matching the level of security that Bitcoin’s networks achieve largely has yet to be seen by an altcoin. This article features the top 10 cryptocurrencies with a brighter future than Bitcoin in 2023.
Ethereum is different from bitcoin. Recently, crypto broke its records, stabilizing its position in the market. Its network allows developers to create their cryptocurrency utilizing the ether network. Even though it was launched years after several other cryptocurrencies, it has far exceeded its place in the market because of its unique technology. It is one of the best cryptocurrencies that will start the bullish rally by year-end.
Cardano continues to remain one of the most popular cryptocurrencies due to its flexible network and fast transactions. Claims to be more friendly to the environment, than other currencies. Like company dividends on stock, it can justify stronger prices over time, as it has gathered real-world uses, from farm supply chains to fighting retail plagiarism. Scalability, sustainability, and interoperability are some of its chief selling points. The recent upgrade in the network has enabled the facility to build smart contracts on its network.
Tether tokens are the most widely adopted stablecoins, having pioneered the concept in the digital token space. A disruptor to the conventional financial system and a trailblazer in the digital use of traditional currencies, Tether Tokens support and empower growing ventures and innovation throughout the blockchain space. Tether Tokens exist as digital tokens built on multiple blockchains.
Thanks to Elon Musk’s moniker as the ‘Dodgemaster’, that brought DOGE to the surface, after months of criticism for being just a meme coin. Nobody expected this coin to become legit and be considered a long-term investment by other crypto traders. DOGE rose to prominence this year and is one of the most cost-effective cryptos in the market. Several crypto analysts are considering dogecoin as a viable investment option.
Stellar is yet another open-source project, which provides its user base with the ability to create, send, and trade all forms of money in digital format. It is an ambitious project, claiming that all of the world’s financial institutions can run on the network. Blockchain technology keeps the XLM network in sync across devices.
Binance is the best-known cryptocurrency exchange in the modern crypto exchange landscape. But what makes BNB more interesting is the Binance smart chain. Like Ethereum, it has a programmable blockchain and project developers can connect with potential investors through the Binance trading platform. But it should also be noted that Binance is criticized more for its centralized system.
Litecoin was created in 2011, thanks to a former Google engineer, Charles Lee. Litecoin, like Ethereum, is a hard fork from Bitcoin. One of the few differences between Litecoin is the speed of transaction, processing it faster than Bitcoin. If Bitcoin blocks are created every 10 minutes, then in Litecoin it happens every 2.5 minutes. That is why Litecoin can process more transactions than the Bitcoin system.
Polkadot is an open-source, blockchain platform, and cryptocurrency. It provides interconnectivity and interoperability between blockchains, by enabling independent chains to securely exchange messages and perform transactions with each other without a trusted third party.
Experts and crypto analysts believe that meme coins might not be a viable option for a long-term investment. But meme coins have shown their potential in 2021, so it might make sense to invest in top meme coins like Shiba Inu. In 2021, SHIB gained an explosive hike in market value by 481,000%. Well, this can be considered a start for a controversial coin like SHIB. It is one of the best cryptocurrencies other than Bitcoin that has a brighter future.
Initially known as BitMonero, Monero was launched in 2014 as a split from Bytecoin which was launched in 2012. Monero prides itself on being secure, private, and decentralized. Unlike Bitcoin where transactions can be traced back to the concerned person, Monero uses advanced cryptography that hides the identities of the parties involved. XMR is the crypto coin that runs on the Monero blockchain. It uses the same proof-of-work algorithm as Bitcoin.