A cryptocurrency, in the broadest sense, is a digital asset presented as a token or coin. While certain cryptocurrencies have entered the real world via traditional means of payment like credit cards, the vast majority remain completely intangible. The term "crypto" refers to the complex encryption required to create and handle digital currency and its operations throughout decentralized networks.
Cryptocurrencies are usually meant to be immune to state influence and regulation, as the sector has risen in popularity, this guiding principle has come under threat. The cryptocurrencies that are fashioned after Bitcoin are commonly referred to as 'altcoins’ and have frequently attempted to position themselves as updated or superior variations of Bitcoin.
Whilst Bitcoin is usually regarded as the innovator of the cryptocurrency world, analysts use a variety of methodologies to evaluate currencies other than Bitcoin. For example, experts frequently place a premium on rating cryptocurrencies concerning market capitalization.
With that in mind, this article will present the most interesting cryptocurrencies being traded right now.
The 5 most interesting Cryptos in 2022
Detailed below are five of the most interesting cryptos to buy right now with the highest value potential:
- Lucky Block (LBLOCK)
- Polkadot (DOT)
- Stellar (XLM)
- NEM (XEM)
- ZCash (ZEC)
1. LuckyBlock (LBLOCK)
On the first spot stands Lucky Block. LBLOCK is currently the world's fastest-growing cryptocurrency platform. The development team proposes a global lottery with participants that leverages the power of the Binance Smart Chain (BSC) network.
As noted in the Lucky Block whitepaper, the objective of Lucky Block is to increase credibility and justice in gaming by establishing a lotto where every participant has a higher chance of winning. At the same time, this innovative currency seeks to provide a good investment plan for holders, whilst giving them the opportunity to contribute to the broader community.
How is Lucky Block Different When Compared to Other Cryptocurrencies?
Using distributed ledger technologies (DLT), Lucky Block can facilitate immediate prize payouts as well as comprehensive monitoring and documentation, irrespective of the magnitude of the prize. Furthermore, blockchain verifies both participants and their tickets, eliminating the possibility of data theft, destruction, or manipulation.
The costs of running a lottery are significant, which might have an influence on income for prize formation and distribution. If a lotto can save expenses, there will be more funds for higher rewards and technical development, both of which will benefit participants in the long run.
Lucky Block will shorten draw durations and permit numerous draws each day, giving participants more opportunities to win. Interestingly, Lucky Block will pay prizes in LBLOCK - the platform’s native crypto token. Although LBLOCK is used for many tasks within the Lucky Block ecosystem, the token can also be purchased for speculative reasons.
Finally, holders of LBLOCK tokens who connect their wallet to the Lucky Block app will be able to receive regular dividend payments once lotto draws go live. These payments will rise in conjunction with the platform’s user base - so the more people that play Lucky Block’s lotteries, the higher the passive income potential for LBLOCK holders.
This exciting use case has already attracted huge community backing, with over 43,000 people now part of Lucky Block’s Telegram group. Overall, due to this and the reasons presented above, Lucky Block is one of the most interesting cryptos today.
2. Polkadot (DOT)
In second place stands Polkadot (DOT). Polkadot is a one-of-a-kind proof of stake coin that aims to provide compatibility with other blockchains. Its network connects permissioned and permissionless blockchains, but also oracles, allowing systems to collaborate. Polkadot's essential feature is its relay chain, which enables network compatibility. Parachains, or alternative blockchains with their own unique coins, are also supported for certain use cases.
Polkadot differs from Ethereum in that instead of only establishing dApps on Polkadot, developers may design their personal blockchain while still benefiting from the protection that Polkadot's chain currently possesses. Developers may establish new blockchains with Ethereum, however, they must create their own security mechanisms, which might leave new and smaller initiatives vulnerable to cyberattacks since the larger a blockchain, the better security it has. This is defined as shared protection in Polkadot.
Polkadot was built by Gavin Wood, a representative of the Ethereum development's core members who had divergent views on the project's future. Polkadot has a market value of around $24.5 billion as of February 2022.
3. Stellar (XLM)
Stellar (XLM) is an open blockchain system that connects financial organizations to provide corporate solutions for massive payments. Massive transfers between major banks and investment firms, which used to take several days, involve a number of middlemen, and cost a lot of money, may now be completed very instantly with no middlemen and cost little to no money to the parties involved
Despite its positioning as an industrial blockchain for corporate transactions, Stellar is still a public blockchain that anybody may utilize. The technology supports cross-border payments in any currency. Lumens are Stellar's native currency.
Jed McCaleb, a founder of Ripple Labs and the creator of the Ripple protocol, launched Stellar. He subsequently quit his position at Ripple to give more attention to the Stellar Development Foundation. Stellar Lumens have an industry value of about $6 billion.
4. NEM (XEM)
If you’re looking for a crypto with a ‘green’ approach, then NEM is worth considering. In March 2015, NEM emerged as an interleaving version of NXT, another prominent blockchain-based digital cryptocurrency, and payment system. It is run by the NEM Foundation, a non-profit corporation located in Singapore. Following the split, NEM.io chose to create its own code to advance NEM and make it both accessible and speedier. As a result, a distinct NEM cryptocurrency system arose that was wholly distinct from the initial NXT.
NEM has its own cryptocurrency known as XEM. Since XEM is not utilized as a payment method by retailers in the same way that bitcoin is, its value has increased dramatically.
Other cryptocurrency systems, such as Bitcoin, employ a proof of work and proof of stake system, which necessitates the usage of mining equipment for the network to function. The miners are compensated based on their work.
In POW miners with better-speed computers have a significant edge over those with inferior devices. Furthermore, POW increases energy usage, rendering the process wasteful in terms of energy. Coin holders have an unfair advantage in POS because players with more assets have a better chance of obtaining more coins via mining and payment execution. It also encourages crypto coin saving rather than crypto coin spending.
5. ZCash (ZEC)
ZCash was created in 2016 by a group of academics who sought to build a cryptocurrency comparable to Bitcoin but with certain added characteristics. They created a Bitcoin blockchain split with improved user security and anonymity. The scientists originally created Zerocoin, which then evolved into Zerocash not long after its initial release. The cryptocurrency was eventually called ZCash.
ZCash is a fork of the Bitcoin codebase. In 2014, the group of academics discovered security issues in the way Bitcoin's blockchain handled payments. They named their cryptocurrency Zerocash in their papers describing their concepts.
In 2015, the academics established the Zerocoin Electric Coin Corporation. The name was switched to Zcash in 2016, and the corporation relaunched as Electric Coin Company.
What Is the Importance of Cryptocurrencies?
Like autonomous systems, cryptocurrencies enable users to conduct monetary operations or even enter into treaties on a peer-to-peer basis. In either situation, no 3rd party mediator such as a banking firm, financial institution, tribunal, or judge is required.
This way of currency has the potential to destabilize the established financial system and make finance more democratic. The cryptocurrency field has exploded in size over the last decade, with new inventions and a combined market valuation of moreover 1.8 trillion.
Although the five coins noted above have exceptional potential, there are still certain factors to consider, namely, there following four elements have to be kept in mind.
The coin's value potential should be one of the top considerations, as this can determine whether returns will be in the single or triple digits. Cryptocurrencies like Bitcoin are already well-established, so it's unlikely we'll see exponential returns in BTC's price over a short period. However, although they are deemed riskier, smaller market cap coins have greater price potential over the short term.
The favorite cryptos of today have one or more use cases that draw investors to the coin. Lucky Block is an excellent example of this, given the platform's exciting crypto-lottery feature. Since investors will be interested in the coin for its price potential and use case, this provides more upwards impetus over the long run.
A cryptocurrency's roadmap is crucial, as most investors will only be interested if there is a solid plan for the long term. If a crypto has no roadmap (or a poor roadmap), it tends to be a red flag, hinting that the development team may be promoting the project for a quick cash grab. On the other hand, cryptos with detailed roadmaps indicate that value should be sustained longer-term – attracting more investors.
Finally, the coin's accessibility is critical. This refers to how easy it is to invest in the coin, which is a key consideration for retail traders. Centralized exchanges (e.g. Binance) make crypto trading easy since they allow traders to use FIAT currency. However, many top cryptos are only listed on decentralized exchanges, meaning investors must have a crypto wallet (and some crypto) before investing.
To summarize, by reviewing the list presented earlier, you'll have a clear understanding of the most interesting Cryptos on the market, however, Lucky Block stands out due to it’s compelling use cases and the LBLOCK token’s remarkable price increases, this crypto looks to be the one with the highest potential in 2022.
Although the LBLOCK token surged over 3,200% in its first few weeks of listing, the price has pulled back slightly from February's highs.
Lucky Block also looks like it has the most potential in terms of price, given the upcoming launch of the mobile app and the platform's crypto lotteries. Furthermore, with potential CEX listings on the horizon, this is likely to increase liquidity and boost the price.
Cryptos are traded in respected cryptocurrency exchange. Some cryptos will be listed on centralized exchanges, which require KYC and accept FIAT, although others will be available through decentralized exchanges that operate in crypto.
Disclaimer: This article is a description of cryptocurrencies available in the market and by no means is advice on investing in any mentioned or non-mentioned cryptocurrency. Readers must do their own research and be aware that investing in Crypto has high risks.