2 Top Cryptocurrencies to Buy and Hold Forever
Cardano and Ripple could help turbocharge your portfolio.
1. Cardano
Blockchain technology is evolving rapidly. And cryptocurrencies that stand the test of time must consistently improve to keep up with the competition -- this is where Cardano shines. The platform's track record of successful updates and its ambitious long-term goals makes it an excellent pick for investors.
Cardano's developers use a phased strategy instead of trying to do everything at once. In the initial two milestones (dubbed Byron and Shelley), the team launched Cardano and implemented its transaction verification mechanism Ouroboros -- a proof-of-stake system where miners update the ledger using coins they own. In the third phase, Goguen, Cardano enabled smart contracts, which are self-executing programs stored on the blockchain.
Smart contracts are the foundation of decentralized applications, which expand the blockchain's use cases into things like decentralized exchanges and digital art markets. But Cardano is just getting started.
According to its development roadmap, Cardano's next phase of development, Basho, will focus on scalability. It is unclear when this will go live, but it may introduce technologies like Hydra, designed to break the blockchain into multiple parts to prevent bottlenecks. These changes could send Cardano'sprocessing capacity from its current 250 transactions per second to one million. But the developers stress that one million is an "aspirational" target, and they plan to scale Cardano based on demand.
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2 Top Cryptocurrencies to Buy and Hold Forever
By Will Ebiefung - Apr 1, 2022 at 8:51AM
KEY POINTS
Cardano's development team has very ambitious long-term plans.
Ripple's design maximizes real-world utility.
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Cardano and Ripple could help turbocharge your portfolio.
Want an asset class capable of generating explosive returns? Look no further than cryptocurrency. While the market has had some weakness recently, it has a record of bouncing back from similar declines in the past. Let's explore why Cardano ( ADA 2.26% ) and Ripple ( XRP 2.20% ) could help lead the sector's resurgence over the long term.
1. Cardano
Blockchain technology is evolving rapidly. And cryptocurrencies that stand the test of time must consistently improve to keep up with the competition -- this is where Cardano shines. The platform's track record of successful updates and its ambitious long-term goals makes it an excellent pick for investors.
Image source: Getty Images.
Cardano's developers use a phased strategy instead of trying to do everything at once. In the initial two milestones (dubbed Byron and Shelley), the team launched Cardano and implemented its transaction verification mechanism Ouroboros -- a proof-of-stake system where miners update the ledger using coins they own. In the third phase, Goguen, Cardano enabled smart contracts, which are self-executing programs stored on the blockchain.
Smart contracts are the foundation of decentralized applications, which expand the blockchain's use cases into things like decentralized exchanges and digital art markets. But Cardano is just getting started.
According to its development roadmap, Cardano's next phase of development, Basho, will focus on scalability. It is unclear when this will go live, but it may introduce technologies like Hydra, designed to break the blockchain into multiple parts to prevent bottlenecks. These changes could send Cardano'sprocessing capacity from its current 250 transactions per second to one million. But the developers stress that one million is an "aspirational" target, and they plan to scale Cardano based on demand.
2. Ripple
Many cryptocurrencies claim to have real-world benefits. But Ripple has made significant progress toward making that goal a reality through its international payments solution, RippleNet. The asset's mainstream adoption and the vast addressable market could create massive value for investors.
According to Research and Markets, the global digital remittance industry could grow at a compound annual growth rate (CAGR) of 13.3% to $42.5 billion by 2028 as globalization increases the need to move money across borders. The opportunity is massive, and Ripple can capture a slice of it because of its low transaction fees and super-fast processing times.