Blockchain technology is fast disrupting the world of finance, and cryptocurrencies are at the forefront of this enormous revolution. Bitcoin, the leading cryptocurrency, is widely considered as a hedge against inflation and an imminent alternative to gold as a store of value.
Over the past few months, Bitcoin and various other altcoins have rallied prominently and offered unprecedented returns to investors. For instance, BTC has rallied from six cents to the $64,000 price levels in just over a decade. This has caused investors and traders to look for the next Bitcoin.
But how do investors accurately speculate cryptocurrencies that are displaying bullish signs and are likely to move upwards in the long term? Analysts and investors consider various factors such as market cap, movement history, price analogies, and network improvements to predict the digital assets that are going to soar in the future.
The best way for most people to get rich is to invest in the right cryptocurrencies. While there are always risks associated with investing. We think buying these three cryptocurrencies really could make you rich over the next decade.
3 Cryptocurrencies Could Make You Extremely Rich In 10 Years
1. Cardano (ADA)
Ever since its inception in 2015, Cardano has attracted significant attention and demand for its blockchain network. Thanks to its advanced functionalities and offerings, the crypto community widely remarks Cardano as the "Ethereum killer." Cardano is a layer 1 blockchain platform with more than 70% of the total currency, ADA, staked for network validation. For the uninitiated, this is an awe-inspiring rate.
Cardano also boasts of various notable partnerships with governments, universities, and businesses. The Proof-of-Stake (PoS) network has a strong development team working on its future upgrades. Cardano's separation of the computation and settlement layers has resulted in much lower transaction fees when compared to Ethereum's high gas fees.
Third-generation cryptocurrencies like Cardano's ADA learn from assets like Bitcoin and Ether to improve upon their shortcomings. ADA utilizes newer developments such as layered architecture to enhance security, scalability, and sustainability. Notably, ADA has exploded significantly over the past few years and is currently one of the top 10 cryptocurrencies by market capitalization.
The Cardano digital asset is highly likely to continue rallying and explode in price in the near future.
More on ADA: Cardano Price Prediction
2. Chainlink (LINK)
Chainlink (LINK) is a popular decentralized oracle service that enables interoperability between the crypto and the "real" world by providing smart contracts with real-time, reliable data feeds.
In other words, Chainlink serves as a middleware agent between traditional data sources, blockchain platforms, and smart contracts (which drive Decentralised Finance projects) using its LINK token. Instead of competing against other cryptocurrencies, Chainlink aims to advance the entire industry through its unique protocols.
Chainlink is working to tackle prominent blockchain-related issues such as the "oracle problem," centralization, and connectivity problems through various next-gen protocols.
Decentralized finance (DeFi) protocols can improve their security and bolster development by offloading their oracle functionalities to Chainlink. Chainlink strives to solve the issues teams face while creating secure and scalable oracles designed to suit their platforms.
As oracles are essential for network expansion, Chainlink offers various benefits to blockchain networks. Oracles are at the core of many exciting developments in the DeFi space and the overall blockchain sector.
For example, decentralized exchanges (DEXs) use oracles to determine the price of digital assets without offering an order book. Chainlink enables firms to leverage this powerful technology in a trustless way, ensuring that the data users receive is not corrupt, incorrect, or timely. In the event of a single node failure, the system automatically replaces it with a higher ranking alternative.
Chainlink provides a necessary resource to the crypto market. It is expanding the functionality of blockchain networks and is providing developers with a new level of flexibility. For these reasons, Chainlink remains one of the hottest coins in the market and is poised to generate massive gains in the future.
Read More: Chainlink Price Prediction: Will LINK Value Increase?
3. TRON (TRX)
Within just two years since its launch in 2017, TRON became one of the top ten cryptocurrencies by market cap. The platform did so by leveraging its community support and advanced technical capabilities.
TRON is a decentralized platform similar to Ethereum that allows dApp (decentralized applications) developers to create and utilize complex protocols through smart contracts on its native blockchain.
Currently, the platform is best known for its transaction speeds and cost-effectiveness. The TRON network is capable of processing around 2000 transactions per second (TPS). This performance has put the platform on par with other major payment processors like PayPal. What's more, TRON has zero transaction fees.
TRON employs a Delegated-Proof-of-Stake (DPoS) consensus model to secure the blockchain. A DPoS is similar to a Proof-of-Stake consensus mechanism that allows users to earn passive income when they stake their holdings in a network wallet.
Keeping the network updates, fee structure, and blockchain architecture in mind, it's safe to say that investing in TRX is likely to generate massive returns.
Read Also: What Will TRON be Worth in 2030?
As cryptocurrencies are starting to make their way through the world of finance, investors are increasingly allocating a sizable portion of their investment portfolios to digital assets. For new investors, it's crucial to dedicate time to research before pouring money into assets that are quite volatile in nature.