Welcome to bulliscoming media, we’ve seen a huge explosion in the cryptocurrency market in 2021, Some crypto assets skyrocketed by up to 20,000%. Hence, the cryptocurrency market has garnered much attention from individuals and high investment firms.
As we headed to 2022, both new and old investors have been looking and searching for which crypto will explode in 2022.
In this article, we will explore different crypto assets that may be among the crypto assets to explode in 2022.
Which Crypto Will Explode In 2022?
Investing in cryptocurrency can make a fortune and also make a loss, that’s why it’s crucial to invest in a crypto asset that has a technological backbone to gain massive adoption.
If you’ve been searching for which crypto will explode in 2022 and you’re eager to get a list of crypto assets that will explode, then you’re in the right place.
Read: What Is Legion Network- How To Get 34 LGX Worth $5
Below is the list of crypto assets with great potential in the blockchain industry.
Polkadot (DOT)
Polkadot is an open-source sharded multichain protocol that connects and secures a network of specialized blockchains, facilitating the cross-chain transfer of any data or asset types, not just tokens, thereby allowing blockchains to be interoperable with each other. Polkadot was designed to provide a foundation for a decentralized internet of blockchains, also known as Web3.
Polkadot is known as a layer-0 metaprotocol because it underlies and describes a format for a network of layer 1 blockchains known as parachains (parallel chains). As a metaprotocol, Polkadot is also capable of autonomously and effortlessly updating its codebase via on-chain governance according to the will of its token holder community.
Polkadot provides a foundation to support a decentralized web, controlled by its users, and to simplify the creation of new applications, institutions, and services.
The Polkadot protocol can connect public and private chains, permissionless networks, oracles, and future technologies, allowing these independent blockchains to trustlessly share information and transactions through the Polkadot Relay Chain (explained further down).
Polkadot’s native DOT token serves three clear purposes: staking for operations and security, facilitating network governance, and bonding tokens to connect parachains.
Polkadot has four core components:
- Relay Chain: Polkadot’s “heart,” helping to create consensus, interoperability, and shared security across the network of different chains.
- Parachains: independent chains that can have their tokens and be optimized for specific use cases;
- Parathreads: similar to parachains but with flexible connectivity based on an economical pay-as-you-go model;
- Bridges: allow parachains and parathreads to connect and communicate with external blockchains like Ethereum.
Solana (SOL)
SOL is a cryptocurrency that powers the Solana ecosystem, Solana is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland.
The Solana protocol is designed to facilitate decentralized app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.
Because of the innovative hybrid consensus model, Solana enjoys interest from small-time traders and institutional traders alike. A significant focus for the Solana Foundation is to make decentralized finance accessible on a larger scale.
Cardano (ADA)
Cardano is a proof-of-stake blockchain platform that says its goal is to allow “changemakers, innovators, and visionaries” to bring about positive global change.
The open-source project also aims to “redistribute power from unaccountable structures to the margins to individuals” — helping to create a society that is more secure, transparent, and fair.
Cardano was founded back in 2017, and named after the 16th-century Italian polymath Gerolamo Cardano. The native ADA token takes its name from the 19th-century mathematician Ada Lovelace, widely regarded as the world’s first computer programmer. The ADA token is designed to ensure that owners can participate in the operation of the network. Because of this, those who hold the cryptocurrency have the right to vote on any proposed changes to the software.
The team behind the layered blockchain says that there have already been some compelling use cases for its technology, which aims to allow decentralized apps and smart contracts to be developed with modularity.
In August 2021, Charles Hoskinson announced the launch of the Alonzo hard fork, causing Cardano price to surge, gaining 116% in the following month. On Sept. 12, 2021, the Cardano ‘Alonzo’ hard fork officially launched, bringing smart contract functionality to the blockchain. Over 100 smart contracts were deployed in the following 24 hours after the launch.
Cardano is used by agricultural companies to track fresh produce from field to fork, while other products built on the platform allow educational credentials to be stored in a tamper-proof way, and retailers to clamp down on counterfeit goods.
Polygon
Polygon (previously Matic Network) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications.
Using Polygon, one can create optimistic rollup chains, ZK rollup chains, stand-alone chains, or any other kind of infra required by the developer.
Polygon effectively transforms Ethereum into a full-fledged multi-chain system (aka Internet of Blockchains). This multi-chain system is akin to other ones such as Polkadot, Cosmos, Avalanche, etc. with the advantages of Ethereum’s security, vibrant ecosystem, and openness.
The $MATIC token will continue to exist and will play an increasingly important role, in securing the system and enabling governance.
Polygon (formerly Matic Network) is a Layer 2 scaling solution backed by Binance and Coinbase. The project seeks to stimulate mass adoption of cryptocurrencies by resolving the problems of scalability on many blockchains.
Polygon combines the Plasma Framework and the proof-of-stake blockchain architecture. The Plasma framework used by Polygon as proposed by the co-founder of Ethereum, Vitalik Buterin, allows for the easy execution of scalable and autonomous smart contracts.
Nothing will change for the existing ecosystem built on the Plasma-POS chain. With Polygon, new features are being built around the existing proven technology to expand the ability to cater to diverse needs from the developer ecosystem. Polygon will continue to develop the core technology so that it can scale to a larger ecosystem.
Polygon boasts of up to 65,000 transactions per second on a single side chain, along with a respectable block confirmation time of fewer than two seconds. The framework also allows for the creation of globally available decentralized financial applications on a single foundational blockchain.
The Plasma framework gives Polygon the potential of housing an unlimited number of decentralized applications on their infrastructure without experiencing the normal drawbacks common on proof-of-work blockchains. So far, Polygon has attracted more than 50 DApps to its PoS-secured Ethereum sidechain.
MATIC, the native token of Polygon, is an ERC-20 token running on the Ethereum blockchain. The tokens are used for payment services on Polygon and as a settlement currency between users who operate within the Polygon ecosystem. The transaction fees on Polygon side chains are also paid in MATIC tokens.
Algorand (Algo)
Also is the native crypto asset of Algorand blockchain, that’s used for any sort of activities in the Algorand ecosystem. Algorand is a self-sustaining, decentralized, blockchain-based network that supports a wide range of applications. These systems are secure, scalable, and efficient, all critical properties for effective applications in the real world. Algorand will support computations that require reliable performance guarantees to create new forms of trust.
The Algorand mainnet became life in June 2019 and was able to handle almost 1 million transactions per day as of December 2020. Algorand transaction metrics can be viewed here. Algorand initial coin offering (ICO) was held in June 2019, with the Algorand price of $2.4 per token.
Binance Coin (BNB)
BNB is the only coin that powers the Binance ecosystem, Binance is the biggest cryptocurrency exchange globally based on daily trading volume. Binance aims to bring cryptocurrency exchanges to the forefront of financial activity globally. The idea behind Binance’s name is to show this new paradigm in global finance — Binary Finance, or Binance.
Aside from being the largest cryptocurrency exchange globally, Binance has launched a whole ecosystem of functionalities for its users. The Binance network includes the Binance Chain, Binance Smart Chain, Binance Academy, Trust Wallet, and Research projects, which all employ the powers of blockchain technology to bring new-age finance to the world. Binance Coin is an integral part of the successful functioning of many of the Binance sub-projects.
Mana
MANA is an ERC-20 token that must be burned to acquire non-fungible ERC-721 LAND tokens. MANA tokens can also be used to pay for a range of avatars, wearables, names, and more on the Decentraland marketplace.
Decentraland (MANA) defines itself as a virtual reality platform powered by the Ethereum blockchain that allows users to create, experience, and monetize content and applications.
In this virtual world, users purchase plots of land that they can later navigate, build upon and monetize.
Decentraland was launched following a $24 million initial coin offering (ICO) that was conducted in 2017. The virtual world launched its closed beta in 2019 and opened to the public in February 2020. Since then, users have created a wide range of experiences on their parcels of LAND, including interactive games, sprawling 3D scenes, and a variety of other interactive experiences.
SAND
SAND is a utility token minted on the Ethereum blockchain that’s used to facilitate transactions on the Sandbox platform.
The Sandbox is a blockchain-based virtual world allowing users to create, build, buy and sell digital assets in the form of a game. By combining the powers of decentralized autonomous organizations (DAO) and non-fungible tokens (NFTs), the Sandbox creates a decentralized platform for a thriving gaming community.
According to the official whitepaper, the Sandbox platform’s main mission is to successfully introduce blockchain technology in mainstream gaming. The platform focuses on facilitating a creative “play-to-earn” model, which allows users to be both creators and gamers simultaneously.
BLOK
BLOK is an Erc-20 token that powers the Bloktopia metaverse platform.
Bloktopia is a decentralized metaverse backed by and built on Polygon. In Bloktopia, a decentralized virtual reality skyscraper made up of 21 levels (as recognition to 21 million Bitcoin) acts as a central hub for users to have access to crypto information and immersive content in one place. The so-called Bloktopias can educate themselves in the basics or more advanced crypto learnings, earn revenue by owning virtual real estate, playing games, building networks, and more. Moreover, advertisers and sponsors can monetize the platform’s userbase through a dedicated NFT mechanism. By providing a VR experience for the crypto community, users can engage in an immersive environment according to Bloktopia’s four core pillars: learn, earn, play and create.
Also read: Best Cryptocurrency To Invest In 2022: Which Crypto Is Best To Invest In 2022?
Conclusion
Investing in cryptocurrency is risky as cryptocurrency has a volatile nature. This article is for informational purposes only and should not be considered investment advice.
You should do your due diligence in any of the aforementioned coins/tokens before you make an investment decision.
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