The year has only just begun, but cryptocurrencies are shifting boundaries and reaching new all-time highs. If you are a crypto enthusiast looking to put your money into coins with potential, check out this list of coins to buy this month in no particular order.
Solana is an open-source computer network developed by Anatoly Yakovenko in 2017. It was developed to increase transaction speed while providing decentralization. The Solana network boasts of validating over 50,000 transactions per second for less than a penny per transaction. It works on proof-of-stake consensus algorithm. It is similar to the Ethereum blockchain, earning it the nickname “Ethereum killer”. Solana supports smart contracts and can be used to invest in apps, DeFi, games, DEXs, social media, dApps, etc. Compared to the Ethereum blockchain, it performed more transactions per second at low transaction fees. SOL is the native coin of the blockchain. It is used to pay transaction fees, staking, and as a governance token. 311.8 million SOL out of the 508.2 million are currently in circulation. SOL is currently ranked 5th and a SOL costs $150.52 today. In November, it cost $259.96.
Cardano is a third-generation protocol created by Jeremy Wood and Charles Hoskinson in 2017. It uses Ouroboros, a proof-of-stake algorithm, as its consensus algorithm. Its goal is to be secure, scalable, flexible and environmentally friendly. The blockchain allows the creation of native tokens that mirror its native cryptocurrency (ADA). The blockchain operates on two different layers: the settlement layer, which oversees the transfer of assets and scores transactions, and the computation layer, which executes smart contracts for decentralized applications. ADA is the native coin to power the platform. It can be used to settle transaction fees and as a governance token. Also, it can be staked for rewards. Today, its price is $1.25, having fallen 59.4% from an ATH of $3.09 in September. ADA is ranked 7th with a market capitalization of $402 billion. It has a total supply of 45 billion, of which 32.1 billion is currently in circulation.
The Fantom ecosystem is a blockchain for decentralized applications and digital assets launched in 2019. Michael Kong developed it. It is modular, efficient, scalable, secure, open and environmentally friendly. It supports smart contracts. The blockchain runs on Lachesis, an Asynchronous Byzantine Fault Tolerant (aBFT) Proof-of-Stake (PoS) consensus algorithm. The creation of dApps is possible thanks to Fantom Virtual Machine. FTM feeds the ecosystem. FTM is both an ERC-20 token and a BEP-2 token. It is used to reward validators and as a governance token. FTM is trading at $3.00 right now. It peaked at $3.46 in October. FTM has a total supply of 3.2 billion, and 2.5 billion are in circulation.
Cosmos is a blockchain for other blockchains created to serve as the internet of blockchains. It has an inter-blockchain communication protocol (IBC) and a software development kit that allows easy creation of dApps and interconnection between independent blockchains (zones). Cosmos runs on Tendermint Proof-of-Stake Byzantine Fault Tolerance (BFT). It was launched in 2019 by the Interchain Foundation. ATOM is the native piece used to promote interoperability on the network. It can be staked, held, traded and traded. Today, its price is $39, with 226 billion atoms currently in circulation. It peaked at $44.42 in September.
Like Spotify and SoundCloud, Audius is a blockchain-based music streaming platform. It supports music sharing, streaming and has social media features. The platform is run by node operators, artists, and fans. Audius operates on a proof-of-stake algorithm. It was founded in 2018 on the POA network but is now on the Solana blockchain. Although not the first blockchain streaming platform, it is backed by Jason Derulo, Katy Perry, Nas, The Chainsmokers, and Pusha T. Its native cryptocurrency is AUDIO, an ERC-20 token . 500 million of the 1.1 billion AUDIOs are currently in circulation. Today, its price is $1.43 but reached an all-time high of $4.95 in March 2021.
Chain link (LINK)
Chain link is a network of nodes that provides data and information from off-blockchain sources available for smart contracts through an oracle. It provides blockchains and dApps on it with relevant data. It was launched in 2017 as the first protocol transferring data and information from off-chain sources to existing smart contracts. Network operation is divided into oracle selection, data report and result aggregation. LINK is the native coin of the network. Node operators are rewarded by LINK for their activities on the network. It can be traded, staked and traded. LINK is currently trading at $24.98. It cost $52.70 in May 2021. There are currently 467 million LINK in circulation.
Polygon was originally developed in India as Matic Network, but was rebranded in February 2021 as Polygon. It was created as a layer 2 scaling protocol for the Ethereum network. It was created to increase the size, speed, security, interoperability, and usage of blockchain. It works on a proof-of-stake algorithm. It supports the Ethereum Virtual Machine contract.
Other developments on the network are expected to include Polygon Plasma, zk-Rollups, Optimistic Rollups, and Validium Chain. MATIC is the native token used to power the Polygon network. Payment of transaction fees and staking can be done with MATIC. Also, it can function as a governance token to vote upgrades and policies on the platform. A MATIC token costs $2.29 today.
Earth is a blockchain that supports the creation of stablecoins tied to physical currencies or assets. These stablecoins can be traded and traded on the ecosystem or exchanges. It was created in 2018 by Terraform Labs using Cosmos SDK. It works on Tendermint Delegated-Proof-of-Stake (DPoS) consensus algorithm. It is a fintech solution for payments. The ecosystem consists of CHAI to make frictionless payments and Terra Bridge to facilitate interoperability between blockchains. The Mirror Protocol allows for the creation of synthetic assets (mAssets) and the Anchor Protocol which provides users with access to stable interest rates. TerraUST, TerraGBY, TerraEUR, TerraJBY, TerraKRW, TerraCNY, and TerraSDR are some of the stablecoins that were created using Terra. LUNA is its native token to maintain the stability of these stablecoins. LUNA’s total supply is less than one billion. LUNA is used as payment for transaction fees, volatility absorber, staking, and governance tokens. LUNA costs $80.94 to date and ranks 9th.
Peas is a blockchain of blockchains created in 2016 and launched in May 2020 by Robert Habermeier, Peter Czaban and Gavin Wood. It aims to solve the blockchain trilemma – security, scalability and decentralization. The blockchain has two modules: the relay chain (the mainnet that handles transactions) and the parachain (the user blockchain that leverages the resources of the mainnet). The blockchain would also feature bridges allowing interoperability with other major blockchains. It operates on a Nominated-Proof-of-Stake (NPoS) consensus mechanism. DOT is its native cryptocurrency and can be traded, staked, and used as a governance token. The price of DOT is currently $26.28, with a total supply of 1.2 billion. It reached an all-time high of $54.98 in November 2021.
Decentraland is the first decentralized 3D world entirely controlled by its users. Its development was launched in 2017 by the Decentraland Foundation, created by Esteban Ordano and Ariel Meilich. It went public in January 2020. It is a metaverse created on the Ethereum blockchain. It has two native tokens – LAND (an NFT protocol for recording acquired properties (land)) and MANA (a cryptocurrency for trading assets and other services globally). The platform supports payments, P2P interaction and interactive applications. MANA is important in performing metaverse operations. It is used to settle trades and vote on policy updates, LAND auctions, and platform upgrades with their MANA. It is currently trading at $2.97. There is a total supply of 2.2 billion, with 1.3 billion currently in circulation and a market capitalization of $3.9 trillion.