The cryptocurrency landscape has changed dramatically in recent years. While some have consolidated their dominant position, others have deviated, while promising new projects have emerged. The year 2022 will definitely transform the cryptocurrency ecosystem as we know it.
The web3 revolution is underway, NFTs are gaining popularity and DeFi promises to fundamentally change the way individuals manage their wealth. As a result, some projects could see dramatic growth. In this video, we will share with you 3 crypto projects that we believe can help you become a millionaire.
Watch this video all the way through, because we're also going to share with you some important updates about Cardano that you absolutely need to know.
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Cryptocurrency attracts and fascinates more and more investors. True digital currencies, we count today several thousand different cryptocurrencies, each with its specificity. Between farming and trading, many individuals want to take advantage of these new assets to make good financial transactions.
The very first crypto that we believe can help you become a millionaire is Ethereum.
If you have the chance to buy ETH before the release of ETH 2.0 then don't hesitate.
ETH 2.0 is THE big, very big, and major evolution expected by the whole cryptocurrency ecosystem. Ethereum's teams, led by founder Vitalik Buterin, have been working on improving their blockchain for several years.
Today, the ERC20 blockchain is widely used but it is still expensive in terms of costs, energy consumption, and limited in the number of transactions.
As an example, the Visa credit card network performs 1736 transactions per second, the Bitcoin network would perform 4 per second. The upgrade with the release of ETH 2.0 will revolutionize all this: 90% less fees, 10 times faster, and 90% less polluting and energy-consuming. In short, it will be a real paradise.
Note also that to date the Ethereum blockchain hosts a large part of the smart contracts which represents one of the most important features of Ethereum and whose applications are infinite. An example of a smart contract project: imagine that you don't need an intermediary (such as Airbnb) to do seasonal rentals and that all the exchanges are done from person to person. This might be possible one-day thanks to a smart contract.
Along with Bitcoin, Ether is undoubtedly the second major crypto to hold, so it's safe to say it's a promising currency. You can consider having 30 to 40% of it in your digital asset portfolio.
A situation that has been repeated year after year for over 5 years, Ethereum is still behind Bitcoin. There are several reasons why Ethereum may be in the top 3 best cryptocurrencies to invest in 2022, including:
The EIP-1559 update introduces a base fee to transactions that are automatically adjusted.
And with the upcoming update, the network will be more efficient, have lower power consumption for mining, and have higher rewards.
Through the use of smart contracts, various decentralized applications (DApps) can be based on their blockchain. Today, the Ethereum ecosystem is the largest in terms of the number of applications developed on the Ethereum Virtual Machine (EVM).
Thus, as we just mentioned, under pressure from many critics due to its high cost and uncompetitive scalability, Ethereum is about to undergo a major transformation. The price of Ethereum will undoubtedly benefit, considerably, from this evolution. That's why we think Ethereum is a good investment to make if you want to become a crypto millionaire.
#2: Near Protocol
The next crypto project is NEAR Protocol.
NEAR Protocol is a blockchain platform designed to create decentralized applications (dApps) that can be used on the web. The goal is to make dApps easy to use, even for people who are new to crypto. These dApps can also scale to meet the needs of a large number of users.
Web services currently require trust between users and companies because requests are handled by a single server managed by an individual entity. NEAR Protocol offers transparency because its cloud-based infrastructure is controlled by everyone in the decentralized network.
The blockchain on which Near dApps are built is very efficient thanks to its Proof of Stake consensus mechanism. It is also scalable because it uses a process called "sharding", which breaks the blockchain into chunks so that many transactions can be processed in parallel.
The key to this system is the native NEAR utility token, which is used for staking, governance, and payment of transaction processing and data storage fees.
While we can provide you with information on the fundamentals and potential of Near Protocol, you will have to make this decision for yourself. There is a capped maximum offer for NEAR, which could make it a good long-term store of value. In addition, the ability to earn staking rewards could stimulate demand for NEAR from people wanting to stake it, which could lead to a decrease in the available supply in the market.
NEAR is also required to pay fees for transaction processing and data storage, which leads to additional demand for the token. This means that as the number of users, dApps, and data on Near increases, the demand for NEAR will increase, which could make it more valuable.
Near Protocol's speed, scalability and low cost already make it an attractive platform for developers and users. The focus on a smooth user experience also helps NEAR Protocol break down barriers to Web 3.0 adoption, as even those with no prior crypto experience can be part of the new open funding system.
The latest crypto with very big potential which, in our opinion, can help you become a millionaire is Cardano.
We have some important updates to share with you about Cardano.
The market capitalization of the digital asset Cardano has increased by over $3 billion in the last 7 days. Now, the market value of the cryptocurrency Cardano has increased from $14.6 billion to $17.4 billion, according to data provided by CoinMarketCap.
At the time of this recording, Cardano is trading at $0.51. However, the asset has seen an increase of over 10% in the last 7 days.
Speaking about the price of Cardano, digital currency trader Michael van de Poppe believes that "Cardano looks set for continuation" before the upgrade.
Vasil is a major upgrade designed to increase Cardano's scaling capabilities and reduce transaction costs. The launch of this upgrade has been delayed several times. Net testing was scheduled to begin last June.
ADA's market value was around $15 billion until Cardano's developer and operator, Input Output Global (IOG), announced on Twitter on September 2 that the Vasil upgrade date is confirmed.
According to IOG, the upgrade will include enhancements to Plutus, Cardano's smart contract platform. These changes will allow developers to build blockchain-based applications that are more powerful and efficient.
As a reminder, the update has been delayed numerous times. The reasons cited were software and testing issues.
Charles Hoskinson, the founder of Cardano, pointed out that the Vasil update is not for the average Cardano user and that the stakes have never really been that high in this regard.
Interestingly, the founder also stated, that he was "tired of taking the blame" for delays even though the network is decentralized.
Anyway, in our opinion, Cardano is a very good investment if you are looking for good crypto to invest in now.
So, what do you think? Do you think the cryptos we just saw in this video can help you become a millionaire? Share your thoughts with us in the comment section below.
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