Cryptocurrencies are one of the new and popular ways to invest your money besides stocks and bonds. Each has its own backstory, different features, and changing values daily. Let’s take a look at 5 cryptocurrencies that are expected to soar in value in the next 5 years.
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Polkadot (DOT)
Polkadot (DOT) cryptocurrency originated in 2020 and is one of the more modern systems that compete with Ethereum (ETH), Polygon (POL) and others. Two blockchains operate on the Polkadot system, including a relay chain on the base network of its operations and an accompaniment of para chains that cryptocurrency holders utilize when investing in the system.
The para chains are as secure as the relay chain for investors to conduct transactions without their information being compromised. Polkadot hit the goal of being one of the highest-funded blockchains since cryptocurrency became prominent by receiving a cumulative $200 million and counting from its investors from only hosting a couple of sales of DOT crypto.
Cardano (ADA)
The Alonzo hard fork is one of the most recent updates to the Cardano (ADA) cryptocurrency system that is enhancing its ability to run on smart contract functionality. Such functions enliven the security measures as crypto investors conduct transactions on the network.
The upgrade to Cardano was released in September 2021 and operates with token locking, metadata, and keeping native assets intact for these smart contracts. ADA is the main token on the network that ensures the security of their decentralized apps (dApps). Since it falls under a Layer 1 token type, Cardano helps to cover transaction fees on its blockchain for the convenience of its investors.
Solana (SOL)
Solana is a Switzerland-based cryptocurrency that originated in 2020. Its sole goal is to hasten how fast transactions occur without compromising the quality of its decentralization ability. The proof-of-history and proof-of-stake combination of its functionality enhances the system’s scalability for crypto investors. The proof-of-history reassures a smooth, secure process with transactions. The proof-of-stake portion of the system makes sure the transactions go through and that new blocks form on the network’s blockchain.
Users might select a Solana app because not as many people are on them like other crypto apps and the loading speeds are quicker. The smart contracts on Solana are affiliated with crypto games, DeFi, and NFT capability. Solana is not only a type of crypto but also a system that allows dApps to run on them and to create NFTs.
Chainlink (LINK)
The price of Chainlink is currently not as high as other cryptos on this list despite being released in 2017 and is currently within the $10 range. Hence, investing in Chainlink could be a good idea for long-term growth if you believe that its value will grow over time. It primarily works by utilizing decentralized oracle nodes that generate data from external sources, make them valid, and then connect them to the blockchain’s smart contracts.
There are 608.1 million LINK that’s circulating in the cryptocurrency world with the popularity being #16 on Coinbase. However, as LINK staking continues to become more prominent in enhancing security measures during the transaction process, there may be more contributors in the future.
Avalanche (AVAX)
Avalanche is a cryptocurrency that was released in 2018 and is known primarily for its two ground-breaking projects which are Curve and Aave. It operates on three different blockchains for more scalability. The exchange chain is where cryptocurrency transactions occur. The contract chain creates new small contracts and implements them into the blockchain. The platform chain works with what validates transactions on the blockchain and works with subnets.
