3 Cryptos that Could ‘Beat Bitcoin’
Cryptocurrency valuation is challenging since fundamentals do not exist, and there are no single criteria that investors can use to compare them. Many investors regard Bitcoin (BTC -1.30 per cent) as a store of wealth, similar to gold. Still, other cryptocurrencies offer greater utility in payments, non-fungible tokens (NTFs), or developing businesses on their blockchain. They behave more like intelligent currencies.
Ethereum
There is nothing that Bitcoin cannot accomplish, but Ethereum can do many things that Bitcoin cannot. Ethereum was designed to be a smart coin with smart contracts on which developers can build. They’ve done it rapidly, thanks to decentralized money and NFTs.
What’s more exciting is that network enhancements could significantly increase performance. Ethereum co-founder Vitalik Buterin has stated that when a series of enhancements are done, Ethereum will be able to handle 100,000 transactions per second, up from roughly 15 transactions per second currently.
Ethereum has a significant lead in building actual utility in crypto, which is why it has the potential to outperform Bitcoin in the long run.
Solana
Solana is a cryptocurrency blockchain that can handle roughly 3,000 transactions per second today and promises to enhance that amount over time, eventually reaching 30,000 transactions per second or more.
Sol features smart contract capabilities comparable to Ethereum. However, transactions are faster and much less expensive. A normal Solana transaction costs a fraction of a cent, but Ethereum transactions might cost hundreds of dollars. As a result, developers and innovators may be able to launch more enterprises on the blockchain than on a more expensive blockchain like Ethereum.
Solana already has more active users and transactions than Ethereum. If present growth rates continue, this cryptocurrency will be incredibly disruptive.
Polygon
Polygon was designed with scalability in mind. It has emerged as a key method for lowering the cost of running on Ethereum. Instagram has added support for Polygon NFTs, and Stripe has allowed Polygon payouts.
If Ethereum scales as developers expect, Polygon will be a crucial solution, giving it the potential to be larger than a cryptocurrency like Bitcoin.