The tale of Bitcoin is a never-ending one. But if you’re unfamiliar with the world of digital cryptocurrencies, then you should know that there are thousands of other altcoins for you to invest your hard-earned money into.
So that’s why we’re here to tell you all about the 6 digital currencies that could go mainstream in 2023. Much like Bitcoin, these alts are some of the most popular picks this year. So with all that said, let’s start.
1. Ethereum ETH
Like it or not, Ethereum is one of the biggest rivals to Bitcoin. And while gas fees are making it nearly impossible to transfer Ethereum or ERC 20 tokens from wallet to wallet, that doesn’t stop people from investing in it.
But what makes ETH so good? Why are people investing in it and why does it currently have a price of $2,500?
Ethereum is the first alternative to Bitcoin. It is a decentralized software platform that is pioneering Smart Contracts applications. The Ethereum network is also the biggest and fastest-growing decentralized platform where anyone can build their own decentralized app or DApp.
The reason why many are investing in it is partly that it is in fact, Ethereum. The name itself holds a lot of weight. But more so than that, it is because of Ethereum 2.0. What Ethereum 2.0 is, essentially, is a better and more improved Ethereum. Plenty speculates that once ETH 2.0 is launched, it will send the token price to the moon. With all that said, we aren’t sure when ETH 2.0 will drop. It might be 2023 or it might be a later year.
2. Cardano ADA
Cardano is called by many as the “Ethereum Killer”. Why? Well because Cardano builds a very similar technology as Ethereum. The owner of Cardano, Charles Hoskinson, is one of the co-founders of Ethereum along with Vitalik Buterin and Gavin Wood.
Naturally, Charles wants to build a better Ethereum that will be much faster, much more efficient, and much cheaper.
The whole point of Cardano is to be a proof-of-Stake cryptocurrency build on research. In fact, the entire project is backed up by thousands of hours of research and hundreds of research papers written. In many ways, research is the backbone of this project.
But what makes Cardano so attractive and why is it going mainstream this 2023? The reasons are very simple. The ADA token is a very stable coin that gradually rises. Don’t expect huge price predictions with Cardano, but do expect plenty of news around this project. Just a few days ago, Cardano signed the biggest government contract in the digital cryptocurrency space with Ethiopia.
3. Polkadot DOT
If Charles went on to create Ethereum, Gavin Wood created Polkadot. That means that three of the five co-founders of Ethereum are working on their own projects.
Polkadot is a highly ambitious project that many in the cryptocurrency space love. DOT is yet another proof-of-stake digital cryptocurrency aiming to create its own decentralized platform for apps, coins, and technology. All in all, Polkadot and Cardano are fighting to overthrow Ethereum.
Where Polkadot differs from the rest is in the fact that you can create your own blockchain on the Polkadot chain. This is potentially huge as developers don’t have to build their own security measures, as it is with Ethereum. With Polkadot, the blockchain will give you its own security.
If you feel as if you’ve missed the Bitcoin train, then fear not as these digital cryptocurrencies can be equally rewarding. But to do that, you will need to start investing. So if you’re interested in that, make sure to click here.
4. Ripple XRP
Currently ranked 4th on coinmarketcap with a $20 billion higher market capitalization than Cardano, Ripple is considered by many as the next best thing to Bitcoin.
Ripple is a much different technology to all three previous. Unlike Ethereum and the two substitutes, Ripple is a payment technology that enables you to make monetary transactions globally. The reason why Ripple is red-hot is the fact that transaction fees are super low and transaction speed is super fast. The record for the biggest cryptocurrency transaction is held by Ripple, $126 million.
With all the hype surrounding Ripple and the excellent technology behind the project, it’s only a matter of time before Ripple launches to even higher grounds.
5. Cosmos ATOM
Cosmos aims to play a very important role in the digital cryptocurrency space. Whereas certain technologies aim to create decentralized spaces, easy ways to transfer money, etc, Cosmos aims to resolve some of the scalability issues surrounding the blockchain.
But not just the blockchain, it aims to resolve these issues on any blockchain platform. Similarly to the Internet of Things concept, Cosmos looks to create an Internet of Blockchains.
The reason why many love Cosmos and make up large portions of investors’ portfolios is down to the fact ATOM enjoys a steady price rise.
6. Chainlink LINK
Yet another Smart Contracts digital currency is Chainlink. Like other similar projects, Chainlink is in a hard battle to become the dominant Smart Contract currency.
Whereas Ethereum Smart Contracts can make calls to external APIs, Chainlink aims to improve and really make Smart Contracts smart. The reason why many love Chainlink is down to the limitless potential of the technology.
Through the native LINK token, developers can create decentralized apps that integrate Smart Contracts into the real world.
The created DApps have tons of uses in the Chainlink space, ranging from insurance uses to supply chains to utilities and more.
While Chainlink enjoys a very good price, it is still low compared to Ethereum and Bitcoin. That is why many predict it will go mainstream.
These 6 digital altcoins are predicted by many to hit new heights this 2023. Considering that we’re still in a bull run, it would be unwise not to invest in them. While no doubt many of you are out there hunting for the $0.0001 coins, maybe investing in proven and effective technology is a better alternative.