With the current crisis of digital currencies leading to a sharp drop in prices, it is really hard to make predictions about cryptocurrencies that could grow the most in 2023.
In an industry that experts believe increasingly resembles traditional risk markets, there are many aspects that can affect the future of a particular cryptocurrency. On Quickex you can exchange USDT to BNB with an easy to use interface and a great rate.
However, despite all the complexity, there are many prognosticating pages that have already made their predictions. For our part, we offer a look at 3 of them, which according to many predictions could grow this year and are worth having in your cryptocurrency wallet.
Cosmos (ATOM)
Compatibility is a big problem for most blockchains when exchanging usable data and interchain communication. Because blockchain is decidedly hard, developers have only two options: either create a fork of code to create their own chains, or use middleware or middleware systems to solve these problems. Cosmos focuses on personalization, and that’s how the Cosmos interconnect protocol thrives. The tools it provides make it easy to create decentralized applications on the Cosmos network.
What is Cosmos?
The Cosmos project aims to facilitate a network that bridges the gap between chains to exchange data without centralized oversight and in a way that facilitates transactions. Cosmos Hub is a central network that connects the various chains into a dedicated area so that they can interact with each other. A proprietary token (ATOM) is used to maintain the ecosystem through stakes and rewards for validators.
Immediately after its launch, Cosmos rose in the cryptocurrency market as one of the most promising investments of 2021.
Cosmos Hub uses the Proof-of-Stake (PoS) mechanism to enable communication between all areas of the Cosmos network. This communication between different blockchains, known as the Inter Blockchain Communication (IBC) protocol, helps extend communication beyond Tendermint-based blockchains. For example, any crypto currency with a share confirmation mechanism, such as Cardano (ADA), can connect to IBC.
Cosmos also intends to make it easier for users to create and run decentralized applications (dApps) on the network by solving sovereignty problems in other networks (such as Ethereum).
Binance Coin
What is Binance Coin?
Binance Coin (BNB) is a cryptocurrency created by the Binance Exchange, one of the world’s leading crypto exchanges. It was launched in 2017 and has since become one of the most popular digital assets in circulation today. BNB is used to pay for trading fees on the exchange as well as other services offered by Binance such as its decentralized finance products, staking rewards, and more.
The main purpose of BNB is to provide users with discounts when they use it to pay their trading fees on the exchange. These discounts are available at various levels depending on how much you hold; holding larger amounts will give you higher discount rates up to 25%. Additionally, users can also earn rewards from participating in events hosted by Binance or through staking their coins into specific projects supported by them such as DeFi tokens or stablecoins like USDT or USDC which offer additional returns over time that can be withdrawn back into your wallet balance if desired.
Advantages over Ethereum
Binance Coin (BNB) is a cryptocurrency created by the popular exchange Binance. It was initially launched as an ERC-20 token on Ethereum’s blockchain, but later migrated to its own mainnet in April 2019. Since then, it has become one of the most successful cryptocurrencies in terms of market capitalization and daily trading volume.
One major advantage that BNB has over Ethereum is its lower transaction fees and faster processing times. Transactions on the BNB network are much cheaper than those conducted using ETH because they do not require users to pay gas fees for miners or other middlemen services such as relayers or custodians like with Ethereum transactions. Additionally, since there are no third parties involved in a transaction when using BNB tokens, transactions can be completed within seconds instead of minutes or hours which helps reduce latency issues associated with traditional cryptocurrencies such as Bitcoin and Ethereum.
Polkadot (DOT)
Polkadot (DOT) is a blockchain project. Polkadot provides compatibility between different blockchains by providing them with enhancements. Its native token is DOT.
When we talk about crypto Polkadot, we should know that we are dealing with a truly innovative project, as it aims to become a network of networks. The goal of the project is to facilitate transactions from one blockchain to another while keeping them secure. Its token, DOT, is the perfect complement.
What is DOT?
It is an open-source protocol that aims to facilitate the development of blockchain technology. Its purpose is to allow the exchange of cryptocurrencies or data from different blockchains without the need for centralized exchange. In this way, better applications, products and services can be developed and implemented between different blockchains. Polkadot’s main blockchain is called the Relay Chain. It also has separate blockchains called parachains. The idea is to be able to easily exchange information between them.
DOT is a Polkadot blockchain token whose main purpose is to keep the project running. It was created to make it easier to reach consensus on the network through stacking, and to make the network more secure. It acts as a bridge to add new parachains to the network, resulting in DOT tokens remaining locked for a certain amount of time during the process. In addition, users who own DOT tokens are entitled to decentralized control. This gives them the right to vote for proposed network updates or to determine fees for the latter.
Conclusion
Currently, many investors tend to trade crypto currencies using short-term strategies to take advantage of volatile price swings. However, the best way to deal with this huge market is to invest in the best cryptocurrencies for the long term.
This will allow you to overcome market volatility and therefore take a much more practical approach when investing in cryptocurrency over the long term.
Der Beitrag 2023 Crypto Outlook: The Top 3 Coins to Watch Out For in Your Wallet erschien zuerst auf Crypto News Flash.
