My top 5 favorite cryptocurrencies
My top 5 favorite cryptocurrencies
in todays blog I wanted to cover what I thought were my top 5 cryptocurrencies. Now I know everyone has an opinion so everyone's list going to be different but I think my list will provide a good set of well know and hidden gem cryptos. I'm sure you'll nevertheless enjoy the blog I have written for all of you today. Remember this isn't financial advice so please don't take it as such. None the less lets now get into todays special blog post.
Fantom(FTM)
Now this is one of my most profitable trades I have made recently out of all my recent trades. This is because one I've been day trading this crypto the most but also because it's one of the biggest gainers in the altcoin realm. But the reason for that is because there has been so much development behind this cryptocurrency. There are a lot of reasons for that but besides the technicals the team behind the crypto are giving out fantom to developers on the blockchain. But lets now also get into the technicals behind this cryptocurrency now.
Fantom is a directed acyclic graph smart contract platform providing decentralized finance services to developers using its own bespoke consensus algorithm. Fantom aims to solve problems associated with smart contract platforms which is specifically transaction speed which developers say have been reduced to under two seconds. The Fantom Foundation, which oversees the Fantom cryptocurrency offering was originally created in 2018. With the launch of OPERA, Fantom’s mainnet coming in December of 2019. The Fantom Foundation was founded by a South Korean computer scientist named Dr. Ahn Byung Ik. However currently the platform’s CEO is Michael Kong.
The team behind the Fantom cryptocurrency has extensive experience primarily in the field of full-stack blockchain development. They aim to create a smart contract platform which privileges and provides scalability, decentralization and security. Fantom attempts to use a new scratch built consensus mechanism to facilitate DeFi and related services on the basis of smart contracts. The mechanism behind the cryptocurrency, Lachesis, promises to provide much higher capacity and two-second transaction finalization, along with improvements to security over traditional proof-of-stake algorithm-based platforms. These are all the reason why I really like fantom.
Polkadot(DOT)
Now I recently have accumulated a lot of Polkadot and have made it 20% of my cryptocurrency portfolio. This is because I really believe in this cryptocurrency I bought in at multiple price ranges but I bought the majority of my Polkadot at the $30 dollar range. I think it'll go up a lot to possibly the $100 dollar range I've heard others say $250 or even $500 but I really don't think it'll go up to that range any time soon or even during this bull cycle. What I believe is I think that Polkadot while hit a new all time high of $100-$150 range. But another reason I've accumulated a lot of Polkadot is because I'm going to use it to accumulate some moonbeam. Moonbeam is another type of cryptocurrency that is trying to acquire a parachain on Polkadot. If you provide dot when the coins ICO drops then you can get some moonbeams for free while making profit on top of your Polkadot purchase.
What Polkadot does is it facilitates the cross chain transfer of any data or asset types. Not just cryptocurrency or it's tokens there for making a wide range of blockchains interoperable with each other. This is great for the internet of things which will be a big part of our everyday lives sometime in the near future. Not just that but also Polkadot will be a great assets to own because it will also connect all these cryptocurrencies blockchains together making it easy to wrap tokens and cryptos through any blockchain you want. That's just the early stage of Polkadots developments once this blockchain get developed and real world assets and NFTS get brought onto the blockchain then the value of Polkadot will go through the roof and to the moon. Polkadot has recently started it's parachain slot auctions with the first one going to kusama and the second auction coming very soon. How these auctions work is basically the one who buys the most Polkadot for the auction is then rewarded the slot. This is why Polkadot is one of my top fives.
Polygon(MATIC)
Polygon is basically the internet of the Ethereum blockchain. Plans for MATIC are to keep up with the expansion of layer 2 works with all Ethereum infrastructure Using Polygon. Developers of DeFi apps can create optimistic rollup chains, ZK rollup chains, stand alone chains or any other kind of infrastructure required by the developer. Plans are to expand across multiple networks like Polkadot but with the security of Ethereum blockchain. MATIC was also created to give it holders governance on what happens with the cryptocurrency in the future. Overall I think when Ethereum comes over from layer one to layer two that they will do it through polygon/MATIC. This is why it's one of my favorites.
Turtle Coin (TRTL)
Now this is a coin I'm sure most of you have never heard of. I found out about it when I first got into crypto mining. A quick note this is that I don't have money invested into it but I have been mining it for a month 24/7 so my computer and electricity bill is my investment. But this is a good coin for people with low computer specs to mine as I mine this coin with my GTX 1050 2GB and FX8320-E CPU and get around 1000-2000 coins per day using either both my CPU and GPU or just using my GPU. In the coming months though a new update will come out causing a hard fork of the blockchain which will result in TRTL coin 2.0. This upgrade is suppose to improve a lot of things including transaction speeds, and fees, as well as add proof-of-stake to the coin instead of proof-of-work. This is one of the main reasons I am hodling and mining this coin. But also because it's a meme coin and the community around this crypto is tight and dedicated as well as the developers of the cryptocurrency.
Cardano(ADA)
This cryptocurrency was first created by the co-founder of Ethereum Charles Hoskinson after he had left the Ethereum project. His vision and goal for this crypto was to create a environmentally sustainable and scalable blockchain network that could give you a set fee and process transactions within seconds. Up and till recently Ethereum had the upper hand with smart contracts but now cardano has launched smart contracts. How Cardano operates is through a proof of stake model It's also a layer 1 cryptocurrency meaning it's the main part of the ecosystem and is what holds the ecosystem together. The eco system is one of the main reasons I'm also into cardano and have made it my top 5.
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