Top Cryptocurrencies that Will Run Parallel to Bitcoin in 2022

2 January 2022

in DOT

Reading Time: 4 mins read

These cryptocurrencies may overtake Bitcoin soon

Bitcoin is not only the trendsetter, there are many other top cryptocurrencies that are built on a decentralized peer-to-peer network, but also has become the de facto standard for most of the investors in the crypto market. Cryptocurrencies are almost always designed to be decentralized as they have grown more popular for this very reason. While some of the cryptocurrencies may have some features that can overtake Bitcoin in the coming years. Let’s see a few of them in this article.

Top Cryptocurrencies that May Overtake Bitcoin

Ethereum (ETH)

Ethereum is the next alternative to the BTC. It is a decentralized software platform that enables smart contracts and decentralized applications to be built and run without any downtime, control, fraud, or interference from a third party. The main motto behind ETH is to create a decentralized suite of financial products that anyone in the world can get access to freely irrespective of ethnicity, nationality, and faith. It is one of the top cryptocurrencies that are on-demand after BTC.

Litecoin (LTC)

Litecoin was launched in 2011 was one of the first top cryptocurrencies to follow in the footsteps of Bitcoin. It is also referred to as the ‘silver to Bitcoin’s gold. This is the best cryptocurrency that is based on an open-source global payment network that is not controlled by any central authority and uses Scrypt as a PoW. Even though Litecoin is like Bitcoin in many ways, it has a faster block generation rate that can confirm the transactions much faster.

Cardano (ADA)

Cardano is an ‘Ouroboros proof-of-stake cryptocurrency that was created with a research-based approach by mathematicians, engineers, and cryptography experts. It is one of the top cryptocurrencies that aims to be the world’s financial operating system by establishing DeFi products similar to ETH as well as providing solutions for chain interoperability, legal contract tracing, and voter fraud. As of December 2021, Cardano has the sixth-largest market cap of about US$42 billion, which is around ADA trades for US$41.25.

Polkadot (DOT)

Polkadot is a unique PoS cryptocurrency that focuses on delivering interoperability among other blockchains. The main component of the DOT is its relay chain that allows the interoperability of varying networks. The only difference between Polkadot and ETH is that DOT creates the dApps on Polkadot, and developers can create their own blockchain while also using the security that Polkadot’s chain already has. It is one of the top cryptocurrencies that will be on-demand more than Bitcoin in the near future.

Bitcoin Cash (BCH)

Bitcoin Cash holds a major significance in the history of altcoins because it is one of the earliest and most successful hard forks of the original Bitcoin. BCH was launched in 2017 as a result of one of the splits. BCH increases the block size from one MB to eight MBs, with the idea being that larger blocks can hold more transactions within them and the transaction speed therefore would be increased. It is one of the top cryptocurrencies to invest in 2022.

Stellar (XLM)

Stellar is an open blockchain network designed to provide enterprise solutions by connecting financial institutions for the purpose of large transactions. The cryptocurrency has positioned itself as an enterprise blockchain for institutional transactions, it is still an open blockchain that can be used by anyone. This is one of the top cryptocurrencies that has great potential to top the market.

Dogecoin (DOGE)

Dogecoin has eventually started as a memecoin that caused a stir in 2021 as the price of the coin skyrocketed. The cryptocurrency which uses an image of the Shiba Inu as its avatar is accepted as a form of payment by some major tech companies such as Dallas Mavericks, Kronos, and a few others. And so, it is one of the top cryptocurrencies that may overtake Bitcoin soon.