Investing in crypto-currency is becoming increasingly popular. Projects are emerging that offer significant potential returns. But which crypto-currencies are providing better 2022 results?
Despite huge changes in the cryptocurrency market, Bitcoin is the most popular digital currency in the world. In the industry, Bitcoin is obsolete, there is another claiming that the original cryptocurrency is now too big to fail.
Indeed, because of the COVID pandemic the price of Bitcoin has fallen, along with most other tokens. But when the virus devastated global financial markets, Bitcoin quickly became a safe haven for investors.
In some ways, the cryptocurrency is beginning to live up to its nickname of digital gold. First-time marketers are likely to look at Bitcoin before launching other crypto-currencies.
This is one of the top ten crypto-currencies with an absolutely solid use case. Ripple's raison d'être is to provide a cross-border funds transfer solution for large banks and financial institutions.
As it stands, most of these institutions have to rely on SWIFT, which can be expensive and involves currency exchange. Banking giant Santander already uses Ripple as part of its cross-border payment solutions.
By using a crypto-currency as a medium of exchange, Ripple can actually provide near-instantaneous transfers at an extremely low cost. Which we can all agree is likely to be extremely tempting for any self-respecting bank.
If you watch the cryptocurrency market over the past few years, you will know that the company behind Ripple has a lawsuit on its hands. However, Ripple's lawyers expect the case to be over, potentially this year.
Solana is one of the most advanced blockchains on the market. This currency has an impressive track record. It is one of the fastest growing projects in recent months. Solana enters the top ten cryptocurrencies by market capitalisation, despite only launching in March 2020.
Perhaps the most notable feature is its proprietary proof of history consensus mechanism. It is supposed to allow the platform to deliver up to 65,000 transactions per second. In fact, the developers behind Solana claim that it is the fastest blockchain in the world.