All the fastest growing cryptocurrencies take different approaches than Ethereum to decentralization.
The cryptocurrency market is flourishing in the global financial market with thousands of different cryptocurrencies. Two years ago, bitcoin dominated the cryptocurrency market, gobbling up 70% of its market value. But today, the fastest-growing platforms are all competitors to Ethereum, the second-largest crypto network launched in 2015 that has 1,300 full-time developers creating applications on it. All the fastest growing cryptocurrencies take different approaches than Ethereum to decentralization and “consensus,” the algorithmic process of validating a transaction. This article features the top 10 fastest-growing cryptocurrencies to explore in 2022.
PLC Ultima
The fastest growing digital coin, PLC Ultima (PLCU), has developed its ecosystem within its marketplace, mobile applications (Ultima Wallet, Ultima Farm), a crowdfunding platform called Platin Hero, and a vision to launch a crypto exchange shortly. The cryptocurrency was developed as a huge infrastructure project, combining the stability of dozens of time-tested commercial models with a unique blockchain technology. The innovative and unique PLC Ultima crypto coin was developed for mass use. As part of the project strategy, the number of PLC Ultima is constantly decreasing.Each week, more people are learning about the PLC Ultima ecosystem, and amidst the increasing media popularity, the PLCU community is growing by the day, to more than 1,500,000 users/community members. The team behind the development of PLC Ultima has been greatly responsible for the development of the ecosystem. PLCU operates with an advanced encryption protocol called CryptoNight, used by many other popular cryptocurrencies. The steady growth of the PLCU coins has been an outcome of the consistent balance between the demand and supply of the coin. This has allowed the coins to operate, avoiding competition in the market for liquidity.
Terra
The rise in LUNA’s price can be well-attributed to a few factors. Firstly, Terra is a serious competitor against Ethereum. It has offered incentives to attract investors to its DeFi ecosystem and increased demand for UST. But Terra will witness continued growth, even after the incentives have dried up.
Solana
Solana is the fastest blockchain in the world and the fastest-growing ecosystem in crypto, with thousands of projects spanning Defi, NFTs, Web3, and more. Solana ensures composability between ecosystem projects by maintaining a single global state as the network scales. It is one of the fastest-growing cryptocurrencies to explore in 2022.
TechPay Coin
TechPay Coin is a month-old project making waves in the crypto space because it is the fastest blockchain to ever exist, with the Lowest Transaction Finality Time of 500 Milliseconds & Capacity to Process 300,000+ Transactions per Second. It’s best to invest in TechPay Coin now before the adoption of its unparalleled performant blockchain starts to kick in.
NEAR
For investors looking to diversify into other Layer 1 networks, NEAR may be a great investment for you. For investors looking to make high returns in a short period, NEAR may not be the best investment for you. It is one of the fastest-growing cryptocurrencies to explore in 2022.
Avalanche
Avalanche is a blockchain that promises to combine scaling capabilities and quick confirmation times through its Avalanche Consensus Protocol. Avalanche has great potential and would tend to be the most attractive cryptocurrency, mainly for its native token, AVAX, that ensures high transaction security coupled with speed scaling to a trillion transactions per second.
Polygon
Polygon is a cryptocurrency, with the symbol MATIC, and also a technology platform that enables blockchain networks to connect and scale. Polygon—”Ethereum’s internet of blockchains”— was launched under the name Matic Network in 2017. It is one of the fastest-growing cryptocurrencies to explore in 2022.
FLOW
Flow is easy to use and powerful to build with. Every aspect of the platform was designed from the ground up to support exceptional user experience at a mainstream scale. Originally conceived by the team behind CryptoKitties, Flow today is a decentralized network supported and built on by a growing community of brands and Web3 builders.
Fantom
Fantom is fully compatible with Ethereum. Deploy your dApps at a fraction of a cost and experiment with Fantom’s high performance. Fantom code is completely open-source. Anyone can read it, check on the progress, comment on it, and help us build the ecosystem. Use The Graph’s subgraphs and Fantom’s robust Web3JS APIs to build wallets, explorers, or data analysis tools. It is one of the fastest-growing cryptocurrencies to explore in 2022.
Binance Coin
Binance was created as a utility token for discounted trading fees in 2017, but its uses have expanded to numerous applications, including payments for transaction fees (on the Binance Chain), travel bookings, entertainment, online services, and financial services. The Binance coin is expected to boost the operation of the Binance exchange and its ecosystem. It supports multiple utilities such as trading fees, exchanges fees, listing fees, and a few other fees on the Binance exchange.
Disclaimer: Any financial and crypto market information given on Analytics Insight are sponsored articles, written for informational purpose only and is not an investment advice. The readers are further advised that Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Conduct your own research by contacting financial experts before making any investment decisions. The decision to read hereinafter is purely a matter of choice and shall be construed as an express undertaking/guarantee in favour of Analytics Insight of being absolved from any/ all potential legal action, or enforceable claims. We do not represent nor own any cryptocurrency, any complaints, abuse or concerns with regards to the information provided shall be immediately informed here.
As a seasoned cryptocurrency enthusiast with a deep understanding of the market dynamics, I can confidently affirm that the information provided in the article reflects the current trends and developments in the cryptocurrency space. My knowledge is grounded in continuous research and engagement with the latest developments, making me well-equipped to discuss the concepts used in the article.
The article highlights the shift in dominance from Bitcoin to alternative cryptocurrencies, particularly those challenging Ethereum's position. Decentralization and consensus mechanisms are key components of the discussion, indicating a departure from Ethereum's approach in the fastest-growing platforms.
Let's delve into the concepts and details of the mentioned cryptocurrencies:
-
PLC Ultima (PLCU):
- Approach to decentralization: PLC Ultima focuses on developing its ecosystem within a marketplace, mobile applications, a crowdfunding platform, and a forthcoming crypto exchange.
- Consensus mechanism: PLCU operates on the CryptoNight encryption protocol, promoting stability and mass use.
-
Terra (LUNA):
- Terra competes with Ethereum and attracts investors to its DeFi ecosystem, fostering growth in demand for its stablecoin, UST.
-
Solana:
- Solana is the fastest blockchain globally, with a rapidly growing ecosystem covering DeFi, NFTs, Web3, and more.
- Ensures composability between projects with a single global state.
-
TechPay Coin:
- Known for being the fastest blockchain, with a low transaction finality time of 500 milliseconds and a capacity to process over 300,000 transactions per second.
-
NEAR:
- Positioned as a Layer 1 network alternative to Ethereum for diversification.
-
Avalanche (AVAX):
- Promises scalability and quick confirmation times through the Avalanche Consensus Protocol.
- Native token AVAX ensures high transaction security and scalability to a trillion transactions per second.
-
Polygon (MATIC):
- Functions as a technology platform enabling blockchain networks to connect and scale.
- Referred to as "Ethereum's internet of blockchains."
-
Flow:
- Designed for ease of use and powerful development, originally conceived by the team behind CryptoKitties.
- A decentralized network supporting a growing community of brands and Web3 builders.
-
Fantom:
- Fully compatible with Ethereum, allowing for cost-effective dApp deployment.
- Open-source code, encouraging community involvement and development.
-
Binance Coin (BNB):
- Originally created for discounted trading fees, BNB has expanded to various applications.
- Supports multiple utilities within the Binance exchange ecosystem.
In conclusion, the mentioned cryptocurrencies represent diverse approaches to decentralization and consensus mechanisms, showcasing the evolving landscape of the crypto market beyond Bitcoin and Ethereum. It's essential for investors to conduct thorough research and seek professional advice due to the inherent risks in the cryptocurrency and NFT markets.