2 Innovative Growth Cryptocurrencies To Buy Hand Over Fist For The Next 10 Years
As DeFi gains more popularity, here are two promising cryptocurrencies to watch.
Mainstream adoption of cryptocurrencies has been gaining steam for years and was accelerated by the COVID-19 pandemic. Like gold, these digital assets are increasingly seen as investments to hedge against inflation during economic uncertainty. There is a wide variety of digital tokens and other crypto-related projects that one could invest in to reap massive profits in the long term.
Investing in emerging digital assets in addition to other stocks can offer a good form of diversification for investors. The price correlation between cryptocurrencies and the US stock market is close to zero. That means the crypto market is unaffected by the stock market and vice versa. As a result, you could improve your diversification by allocating a portion of your portfolio to cryptocurrency.
There are thousands of digital assets to choose from, and the list keeps growing. Many cryptocurrencies offer attractive investment opportunities, depending on what your investment goals are. While there is no single cryptocurrency we can point out as the best of the best, here are two innovative growth cryptocurrencies to buy hand over fist for the next ten years.
- SushiSwap (SUSHI)
- Chainlink (LINK)
1. SushiSwap (SUSHI)
Invest in the future of DeFi by buying SUSHI tokens today.
SushiSwap (SUSHI) is a DeFi platform designed to improve on other Ethereum dApps out there. Specifically, SushiSwap has introduced additional community control mechanisms and DeFi features compared to other protocols. It is an automated market maker (AMM) that helps in decreasing centralization in the market.
Unlike centralized exchanges that depend on an order book to link traders and dictate pricing, AMMs utilize smart contracts to build markets for any two crypto tokens. In this way, the protocol achieves automated trading liquidity between any two digital assets. Sushiswap enables any project to obtain liquidity through smart contracts known as liquidity pools. Experts believe that AMMs are ideal places to acquire scarce and low liquidity tokens.
One of the main benefits of SushiSwap is that the majority of the fees get paid back to users. Liquidity providers receive massive rewards for their continued contributions. Notably, SushiSwap was the first AMM to send all profits back to the community that maintains it.
Unlike other AMMs, SushiSwap is not bound by rules or regulations. Instead, it uses its network to distribute orders and avoid liquidity issues. The platform is a hard fork of Uniswap. As such, it is built atop the Ethereum blockchain and is compatible with all ERC-20 compliant wallets. The core design is similar to Uniswap, with the main differences arising in community-oriented features and benefits.
SushiSwap offers DeFi users access to the most popular features, such as staking and farming. Many new users prefer staking over trading because it is less labor-intensive and provides more consistent ROIs. Additionally, the farming protocol means you do not need to be a liquidity provider to earn rewards.
The concept of the SUSHI token is similar to the Uniswap coin. However, instead of just being able to earn rewards, holders also get to keep accruing fees. In addition, the token also allows holders of SUSHI to gain voting rights and appoint members to the platform’s board.
SUSHI is a cryptocurrency with its ups and downs, and it has a unique value proposition. Its decentralized nature makes it an excellent choice for investors. Buying SUSHI now could help you generate massive returns in the future.
xSUSHi is another unique token in the network. You receive xSUSHI in exchange for staking SUSHI tokens in the Sushibar. To mint xSUSHI tokens, you first need to stake SUSHI. Interestingly, xSUSHI coins hold more value than regular SUSHI.
2. Chainlink (LINK)
With new partnerships every day, Chainlink is taking the world of finance by storm.
Chainlink is an industry-standard oracle network that connects smart contracts with real-world data. By bridging the gap, it expands the capabilities of smart contracts by enabling access to payments, events, and much more. Moreover, it does this without compromising the network security and reliability.
Chainlink also provides complete transparency to its users by giving them access to monitor and verify its open-source code, the performance of its oracle networks, and the quality of individual node operators. Thus, it is not a single oracle network but a whole ecosystem that contains numerous decentralized oracle networks running in parallel.
Chainlink has been a project to watch for years. The program first entered the market in 2014 under the name SmartContract.com. Shortly after its launch, it was renamed Chainlink to represent the platform’s core market better. Today, Chainlink helps bridge the growing gap between external data sources and public blockchains in new and exciting ways.
In 2017, Chainlink hosted an ICO that was, at the time, one of the largest events to take place. The network has been in the spotlight ever since. In total, the crowdfunding event netted the platform a respectable sum of $32 million. This funding has helped Chainlink to push the boundaries of oracle reliability and security to new heights.
In 2019, Chainlink made one of its most significant partnerships to date. The firm successfully lined up a strategic partnership with Google. The agreement secured Chainlink’s protocol within the Google smart contract strategy. Investors saw this as a crucial milestone in the platform's journey.
The first and foremost factor is that Chainlink allows institutions to leverage the technology of the oracle network in a trustless manner. As the core of several exciting developments, oracles are significant for network expansion. Various DEXs also use Chainlink to determine the price of cryptocurrencies without offering an order book.
With oracle networks, users can be assured that the data they receive is timely and not corrupt or incorrect. Furthermore, the system will automatically replace itself with a higher ranking alternative even in a single node failure.
Chainlink: Partnerships and LINK token
Notably, Chainlink is one of the major players in the data processing field. It has strong partnerships with established firms and institutions in the market, making it a viable option for a long-term investment. Furthermore, as it provides the integration of off-chain data, Chainlink has also gained attention from several data providers like Brave New Coin, Alpha Vantage, and Huobi.
Chainlink's native token LINK is one of the hottest coins in the market.
LINK is an ERC-20 token secured by the Proof-of-Stake (PoS) consensus mechanism. It relies on the number of staked tokens for selecting node validators and is highly energy efficient compared to Proof-of-Work (PoW).
Therefore, along with providing high security, Chainlink reduces power consumption and is an efficient future-driven network. Chainlink is a necessary resource to the market as it expands the functionalities of the blockchain network and provides developers with more flexibility. It has successfully bridged the gap and has brought interoperability to the whole blockchain industry.
Buying LINK now is the fastest way to become a part of this growing ecosystem.
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Cryptocurrencies are fast revolutionizing the world of finance. Investing in emerging blockchain technologies have the potential of generating massive returns in the future. After evaluating various metrics such as price history, unique features, etc., we believe SUSHI and LINK are the innovative growth cryptocurrencies to buy hand over fist for the next ten years.
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