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In todays blog post I want to cover some cryptos I'm invested in and I believe will go to the moon. If you don't know what a layer one is then let me quickly explain and summarize it to you. A layer one is a cryptocurrency that is the main cryptocurrency of the ecosystem it hosts the blockchain of the cryptocurrency. Layer ones essentially run the ecosystem and every token and crypto it hosts on the blockchain. These cryptos are the future of the market and are most likely to succeed out of all the altcoins in the market. Now before we get into the rest of the blog post I want to say this isn't financial advice and shouldn't be taken as such. With all of that out the way we can now get into the blog post.
This cryptocurrency was first created by the co-founder of Ethereum Charles Hoskinson after he had left the Ethereum project. Charles Hoskinson vision and goal for this cryptocurrency was to create a environmentally sustainable and scalable blockchain network that could give you a set fee and process transactions within seconds of the transaction. How Cardano operates is through a proof of stake model. The Cardano ecosystem is lacking at the moment right now. But with the launch of smart contracts you expect more development on the eco system. There are many projects being developed right now on the cardano blockchain so you can expect more on the ecosystem soon. The project under development on the ecosystem right now range from decentralized exchanges to stables coins to even oracles.
With these developments the cardano ecosystem is looking bright for future. The recent virtual and real world summit cardano hosted recently outlined what the future of cardano is heading towards. Some of the major news to come from this summit were things such as the deal made between cardano and dish network along with the fact all the donations collected during the summit would be used to help grow back trees in forests all around the world. Overall it seems cardano is sticking to it's guns and it furthering itself in the crypto world to become one of the leading cryptocurrencies we have. These are all the reasons why i'm so bullish on cardano and it's ecosystem.
Now if you previously read my top 5 altcoin going to the mood blog post which you can read using the link I have provided you know I am big on fantom. The reasons for that vary from the technical behind the crypto to the marketing and incentives they be offering. One of the key parts I listed besides the technicals I believe are most important are the incentives they be offering on the blockchain. From the incentives they offer developers for developing on the blockchain to the free NFTS they occasionally offer. The marketing they do is good but they clearly aren't to focused on it as of right now. I'm sure as times goes and fantom gets more developed I'm sure we'll see better marketing. Lets now dive into the technicals behind the crypto real quick.
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.
Solana is a highly functional open source project that tries to cash in on blockchain technology’s permissionless nature to allow for decentralized finance solutions to exist. While the initial work on the crypto began in 2017. Solana however was officially launched in March of 2020 by the Solana Foundation. Which is the main Foundation/organization behind the Solana cryptocurrency. The Solana protocol is designed to facilitate decentralized app creation. It aims to improve scalability by introducing a proof-of-history consensus combined with the proof-of-stake consensus of the blockchain. Because of the innovative hybrid consensus model, Solana enjoys interest from the likes of small-time traders and institutional traders alike. A significant focus for the Solana Foundation is to make decentralized finance accessible on a larger scale.
Although the recent hack that occurred on the solana blockchain went to prove that this cryptocurrency isn't as decentralized as they make it seem and sound. This is because if it was really decentralized then the majority of nodes on the network wouldn't have been overflooded. However it does seem that solana is trying to work on this now after getting backlash from the hack. But some reasons you should be bullish about this crypto is for two reasons. The NFT market that is on the blockchain and all the mainstream adoption it's been getting from retail investors to celebrities and even intuitional investors. This has been the only other altcoin besides doge and shibu inu I've seen really be brought up in the mainstream media.
Now we're going to get into our bonus cryptocurrency now. The bonus crypto we're getting into is a crypto called polkadot. Many of you probably have heard of this crypto and if you have researched it then you know this isn't a layer one. It's a layer zero crypto since polkadot is trying to facilitate the ability for blockchains to cross transfer easily and fast. However I thought I would include it since some consider polkadot a layer one and since it's really the only layer zero there is. Besides all that though lets get into the technicals behind polkadot.
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.
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