5 Alternatives to XRP With a Bigger Growth Potential | Bitcoinist.com (2024)

Although currently going through a gruesome lawsuit with regulators, Ripple still remains one of the largest utility tokens in the industry. The cryptocurrency is used in its global payment network with major banks to secure its payment settlement system.

Through its system, banks can access fast settlements with very low fees, which is why it’s used by large financial institutions worldwide, such as Santander, Axis Bank, and Yes Bank.

However, Ripple isn’t the only cryptocurrency in the sector that provides real-world utility. Moreover, the fact that XRP has already grown into one of the largest cryptocurrencies means that its potential growth upward is limited relative to other budding projects.

If you’re looking for a token that can provide tangible utility, here are five alternatives to XRP with bigger potential growth.

A Quick Overview of the 5 Alternatives to XRP With a Bigger Potential Growth

1. DeeLance – A Revolutionary and Transparent Freelancing Platform
2. Chainlink – DeFi’s Most Important Cryptocurrency Project
3. Binance token – The Native Token Behind the World’s Largest Exchange
4. Chiliz – The Budding Fan Token Experience
5. Basic Attention Token – The Token Revolutionizing Online Advertising

A Closer Look at the 5 Alternatives to XRP With a Bigger Potential Growth

1. DeeLance – A Revolutionary and Transparent Freelancing Platform

​

DeeLance tops the list of the best alternatives to XRP with a bigger potential growth because it provides a solution to the freelancing problem millions of individuals face today. DeeLance is on a mission to revolutionize the freelance gig economy and keep freelancing open to everybody while providing a secure and transparent ecosystem for buyers and sellers.

With freelancing becoming the future of workplace dynamics, it’s unsurprising to learn that the sector has grown tremendously, with the global gig economy expected to surpass $450 billion in 2023. More specifically, some estimates suggest that freelancing itself is expected to hit $12 billion by 2028.

With such a large industry, DeeLance aims to integrate the sector with the latest technological advancements, such as Web3, NFTs, and the Metaverse. The entire idea behind the platform is to create a freelancing and recruitment platform based on Web3 to help revolutionize how freelancers connect with potential employers.

The problem with today’s current state of affairs in the freelance trade is that Web2 marketplaces such as LinkedIn, Upwork, and Fiver completely dominate the industry. These platforms can offer employers and freelancers a wide range of clients but face several challenges. For example, there’s no control over data ownership in Web2 marketplaces, which charge high commissions and fees. Furthermore, these Web2 marketplaces are known to have long payment cycles, offer cheap services, and attract low-paying clients.

The worst part about the Web2 freelance marketplace sector is that freelancers have to outbid each other by offering huge discounts. They can also be removed from the platform at anytime, preventing their ability to work and provide for their families. For example, UpWork purged over 2 million freelancers deemed “less skilled” in 2020.

This is precisely the problem that DeeLance attempts to overhaul.

Deelance has created a next-generation freelancing platform that’s built on three ecosystem pillars:

1. An Innovative Recruitment Platform.
2. An NFT Marketplace.
3. A Revolutionary Metaverse.

Together, these products provide a suite of tools and services designed to streamline and improve the freelance process.

The innovative recruitment platform is the flagship product from DeeLance, allowing employers to post job offers and freelancers to hunt for work. The system is designed to decentralize the entire process while keeping freelancers and employers secure.

One of the mechanisms used to ensure transparency in the ecosystem is the automated dispute system, which stores all reputations of buyers and sellers on the platform. The system integrates a client feedback score which measures the average score provided by clients to freelancers on the platform. It helps to indicate the level of satisfaction and work quality delivered by freelancers. There’s also a freelancer success rate to measure the percentage of tasks completed by freelancers and a task completion time to measure the duration of each job.

Furthermore, the platform is designed to totally simplify the business process. For example, posting a job or applying for one only takes a minute. In addition, no third-party apps, browser plugins, credit cards, or wallet linking are required on the platform, making it extremely fast and efficient. The system also uses a smart contract escrow system to guarantee freelancers receive service payments. The escrow ensures that employers’ funds are stored safely until the work is submitted to the specifications required.

In addition, freelancers can charge much lower fees because employers are directly connected to freelancers. The commission is also the lowest in the industry, as DeeLance charges a 2% commission, much lower than the 20% charged on Fiverr.

DeeLance has also integrated an innovative NFT feature to guarantee platform ownership. All freelancer work submitted is turned into NFTs to ensure recruiters get ownership of the work they’re paying for, protecting them against payment fraud or copyright violation.

The platform also integrates subscription NFTs into the ecosystem to provide discounts for participants. For example, those that purchase one of the 5,000 General NFTs will have all platform fees waived. Unique and Pro NFTs also offer plots of land and offices in the Metaverse, designed to allow buyers to interact with freelancers in office spaces to have meetings through voice or video conferencing.

DeeLance is currently undergoing a presale for its native token, $DLANCE, which can be used to purchase subscription NFTs, acquire land and offices within the Metaverse, pay for freelance services, or acquire advertising. The token is designed to provide users with a seamless transaction process to improve their experience.

The presale is currently in the first stage, selling the token for a price of $0.025. However, the presale uses an increasing pricing strategy, increasing the token’s price during each subsequent presale stage. For example, in stage two, the price for the token will increase to $0.027. Then, it will continue rising until stage six, which will sell the token for $0.035. Therefore, those purchasing in the earlier stages benefit the most as they will have more unrealized gains when the token finally launches on exchanges at $0.037.

Overall, DeeLance has created a groundbreaking solution to the freelance economy, providing a secure and transparent method for freelancers and employers to find what they’re looking for seamlessly.

Visit DeeLance Today

2. Chainlink – DeFi’s Most Important Cryptocurrency Project

Chainlink is, without a doubt, the most important cryptocurrency project in the DeFi sector. The project is a decentralized Oracle service that helps to bring off-chain data into smart contracts. In effect, it helps to bridge the gap between closed blockchain systems and the open world – allowing smart contracts on a wide range of networks to reach their full potential.

Most cryptocurrency projects’ problems are that each chain can only utilize the data already on that specific blockchain. As a result, data outside the blockchain is inaccessible, and projects require an Oracle service to integrate this type of data, which is precisely what Chainlink provides.

The introduction of Chainlink into the cryptocurrency sector completely changed the dynamics of Decentralized Finance (DeFi). It helped to bring data from outside blockchains into smart contracts to execute certain parameters.

The off-chain data is provided by oracles within the system, who are incentivized to provide accurate data to ensure their reputation score remains high. Data providers are required to stake LINK, the native token behind the platform, to ensure that they act as honestly as possible, as they stand to lose money if they provide inaccurate data. For those that act honestly and provide data, the Chainlink ecosystem rewards them with LINK tokens for their efforts.

Some outside data that Oracles can report include event data, data feeds, payment methods, and pricing data. These datasets allowed DeFi to morph into a truly decentralized financial ecosystem, giving birth to a new breed of projects. For example, Chainlink forms the basis of most of the decentralized exchanges in the sector, allowing smart contracts to receive the prices of assets to facilitate trading.

The recent market capitulation presented a fantastic opportunity to re-invest in the LINK token before it starts its recovery. LINK managed to reach as high as $50 during the peak of the bull market. However, it currently sits beneath $10, providing sizable gains in the next wave higher. Furthermore, its market cap is much lower than Ripple’s, meaning greater upside potential exists.

3. Binance Token – The Native Token Behind the World’s Largest Exchange

Binance token, BNB, is the native token behind the world’s largest cryptocurrency exchange – Binance. It’s also the cryptocurrency that powers the BNB Chain ecosystem and helps to provide discounts to traders on the Binance exchange.

The token launched with an initial coin offering (ICO) in July 2017 and has since grown into one of the most popular tokens as it currently sits in the 4th ranked position with a market cap size of $50 billion.

Binance used a clever token-burning mechanism to help increase the value of the token by removing BNB from the circulating supply, making the token more scarce. The exchange used one-fifth of the profits generated on the exchange to buy back BNB from the open market and burn them – removing them from circulation. This tactic helped BNB become one of the largest tokens in the industry.

The best part about BNB is the utility it provides for traders. It allows users to pay platform fees on the exchange, providing them with a discount of 25% on Spot Trading fees. In addition, those that use BNB on the Margin Trading platform also receive 25% off their fees, with an additional 10% discount for Futures Trading.

The platform continued adding utility for the token, such as providing users the first chance to invest in projects launching on the Binance Launchpad platform. Users were required to hold a specific number of BNB to be eligible for investment, which caused a large number of investors to hoard BNB.

Although Binance is currently facing regulatory scrutiny, the BNB token still has its place in the industry. The best part about BNB is that it can grow in any market condition, including bear markets. This is because everybody needs somewhere to trade, even if the overall market declines. As a result, BNB provides a fantastic opportunity to invest in a token that can continue growing as the cryptocurrency ecosystem grows.

4. Chiliz – The Budding Fan Token Experience

Chiliz is the native cryptocurrency behind the Socios fan engagement ecosystem that allows fans to purchase branded NFTs from their favorite sports stars, teams, and entertainers. Using the Socios platform, fans can easily access exclusive merchandise, experiences, and early-bird tickets for their favorite teams, creating an ecosystem that lets them directly engage with their heroes.

Currently, Chiliz allows fans to purchase merchandise and experiences through 82 different fan tokens. Some of these tokens include mammoth teams, such as Paris-Saint Germain, Manchester City, Napoli FC, and Barcelona FC.

The fan tokens also allow fans to vote on specific polls created by the team. A great example was Juventus FC, which created a poll to let token holders decide the celebration song that would be played over the loudspeaker each time the team scored a goal. Fans at Barcelona chose a mural to hang in the team’s dressing room, and fans of PSG chose a message to be written on the captain’s armband.

Fans were limited to watching teams and purchasing merchandise in their stores before the Chiliz ecosystem was created. Now, they’re able to get more direct interactions with the teams they admire on a weekly basis. At the same time, the ecosystem helps sports franchises to monetize their fan base in novel ways by providing their fans with some of the most interactive experiences imaginable.

Chiliz presents a fantastic investment opportunity because the project has a clearly defined business strategy to move forward and continue growing. In addition, the utility provided by the ecosystem means there will always be a need for the CHZ token because there will always be millions of fans that are willing to interact with their favorite teams. These fans are required to use CHZ tokens to be able to purchase the fan tokens of their teams.

Overall, Chiliz is a unique project in the space, and the partnerships already created put them miles ahead of the competition.

5. Basic Attention Token – The Token Revolutionizing Online Advertising

Basic Attention Token is the native token used to pay for advertising in the Brave Browser – one of the fastest and most secure web browsers on the internet. The Brave Browser has created a private advertising network that pays users for viewing advertisem*nts in BAT tokens. The idea behind the platform is to create an advertising network where viewers are actually interested in the projects being advertised to them while earning a reward for their attention.

The Brave Browser and the BAT token were created by the co-founder of Firefox, Brendan Eich, to increase security and privacy for users while browsing the internet. The Brave Browser automatically blocks all cookies and trackers on the internet and removes all advertisem*nts from traditional methods. This means that users won’t see any advertisem*nts on YouTube or web pages when browsing on Brave – except for those in the private ad network.

BAT can be used to obtain advertising services on the platform. Advertisers are required to pay for services in the native token, providing it with a fantastic use case. The token is also a medium of exchange between fans and content creators, allowing fans to tip their favorite creators for the content they enjoy consuming regularly.

The project aims to overhaul the advertising industry in the digital realm. Instead of benefiting publishers, the new system lets advertisers reach their target audience while rewarding those being advertised to. In addition, the system is designed so that a viewer is attentive when they see an advertisem*nt, which should result in better results for those advertising.

Currently, there are around 21 million active users on the Brave Browser, creating a huge user base for advertisers to advertise their products. In addition, there are around 10.6 million BAT wallets, with over 2 million creators signed up to receive tips from their fans.

Overall, Basic Attention Token has secured its place in the advertising sector and will continue to grow as more people download the Brave Browser.

Conclusion

In conclusion, XRP presented incredible growth opportunities for investors in the early days of the cryptocurrency market. However, the industry has evolved considerably since then, and the opportunity for additional growth through XRP is relatively limited at this stage.

Nevertheless, with utility rising to the forefront of the industry again, there are plenty of opportunities available for people to invest in XRP alternatives that provide considerable upside potential.

All the projects on this list are great alternatives to Ripple with bigger potential growth. We believe the presale opportunity provided by DeeLance is the best option on this list. The decentralized freelance platform is expected to totally revolutionize the space, pushing the billion-dollar industry into the Web3 realm with a new wave of benefits.

Overall, once DeeLance launches and freelancers start to use the platform, the native token behind the project will see immense growth.

Visit the DeeLance Presale Today

Disclaimer:This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.