Post Menu and Details.
- №1. Ethereum (ETH)
- №2. Solana (SOL)
- №3. Cardano (ADA)
- №4. Avalanche (AVAX)
- №5. Algorand (ALGO)
- №6. Cosmos (АТОМ)
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The situation in the cryptocurrency market is changing every second. It is impossible to predict for sure which of them will rise to the top, and which will collapse in a few minutes. To provide at least some stability, smart contracts appeared. These small pieces of code remain in the blockchain forever and are ready to be generated automatically at any time. This does not require the participation of any intermediaries.
Smart contracts have increased the level of user trust, which has attracted a huge flow of interested developers. Today they are used in the creation of many blockchain projects. But despite the opportunities, due to serious security threats and the instability of the technical base, only market leaders stand a good chance of staying afloat.
We have collected the TOP 5 cryptographic smart contracts that you should pay attention to.
The first in the top and the first who launches smart contracts is Ethereum. And although it is second only to Bitcoin in terms of market capitalization, its capabilities still cannot be called stable and durable in the future. It suffered from its own success, lucrative opportunities created a furor that the cryptocurrency could not handle. Yes, most of the applications work on this blockchain, the cost of the cryptocurrency is almost constantly growing, and many people are investing their capital in Eth, but the inflated commission for transactions and network congestion prevent it from becoming an unattainable leader. In addition, it has a fairly serious carbon footprint, and the relationship with other blockchains has not been achieved.
Today, the upgrade of Ethereum to Ethereum 2 is already nearing completion, but its implementation is predicted for at least 2023.
A prime example of how the value of a cryptocurrency can skyrocket. In 2021, Solana’s active wallets increased by 58%, which is ahead of many competitors. This is justified because it has become a high-speed currency, with more than a thousand projects already associated at a low cost. The high speed of transactions was obtained due to the ability not to waste time and system power on re-verifying transactions that had already been made.
One of the most rapidly developing projects used on this basis is USDC. The latter is also available on Ethereum, which can only match the speed of transactions with Solana after implementing an updated version.
Cardano introduced smart contracts only in September 2021, but this does not prevent it from being at the top of the leaders now. The project has taken a slow, selective, and technological path to greatness, which has helped it ramp up investment in this short period and attract deserving developers.
It was because of the unhurried body movements that ADA was able to succeed. Constant testing made it possible to avoid errors, and involving experts in the work made the product of high quality.
After the introduction of smart contracts and attempts to get ahead, Cardano received an avalanche of criticism, but already at the beginning of 2022, she proved that she could create and maintain several dozen products at the proper level at once.
It is also a newcomer to the world of smart contracts, which shows great promise of success. In addition to high transaction speed and scalability, Algorsnd offers a reliable level of security. To form a smart contract, developers are offered a choice of a large number of programming languages.
In addition to the high speed of the transactions themselves, you can add fast completion so that it can compete with other leaders. For example, when a transaction is sent and the processing process begins, AVAX offers an even faster experience than Solana. This ability is achieved through the use of 3 blockchain options in the ecosystem at once. An additional advantage is a low commission.
The new Algorand ecosystem is filled with a large number of applications and projects, has good scalability, and offers a small commission for transactions. This is a promising version of a decentralized network, which will please with its high speed and increased level of security. The product has all the necessary functions for convenient real-time operation.
Initially, ALGO was created to increase the speed of transactions and their efficiency, but it expanded its capabilities and entered the top leaders.
To ensure decent functionality, he had to abandon the introduction of mining, which eats up a large amount of energy.
ALGO offers the provision of CBDCs – Central Bank Digital Currencies. Several countries are already interested in integrating such technologies. Developers are offered the opportunity to create contracts in different programming languages, including Clarity. The latter makes it possible to understand the whole essence of what is written without deepening into the technical environment.
The policy of Cosmos is the availability of the interaction of different variants of the blockchain in one place. This is convenient and gives more options for creating projects. Now developers who use several sources of smart contracts at once can easily switch between them, expanding the functionality. ATOM is one of the few that provides this capability, which adds value to it.
The extended availability between blockchains is backed by a strong security system, but due to the increased level of regulation, there is a chance that the ecosystem will quickly turn into an average cryptocurrency without great prospects.
The digital currency is strengthening every minute, which sooner or later will lead to the destruction of the familiar, but the already outdated financial system. Its ecosystem is growing steadily, and more people want to invest in it. With the beginning of the development of smart contracts, this desire has only increased, but the technology still needs time to improve its capabilities. We have analyzed 6 cryptocurrencies that have smart contracts so that everyone understands what they can start their journey in the world of cryptocurrencies with. But investments still require deeper knowledge and greater faith in the possibility of contracts. Remember, in no case should you invest your last money in the hope that this will increase your capital. Any cryptocurrency is a constant risk, so you should “play” only according to the rules and with money that you are not afraid to lose.
Kevin White is a freelance blogger. He’s got experience in writing quality pieces on various topics. You may feel free to reach out to him at GuestpostingNinja@gmail.com for collaboration suggestions.
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