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Long-term and short-term investors have benefited greatly from cryptocurrency investments. The widespread adoption of these digital assets in the last two years has allowed investors to make life-changing returns in a matter of months.
It may be difficult to consistently identify winning bets with over 19,000 cryptocurrencies in circulation. However, you should assess the utility of the underlying blockchain network, which theoretically boosts demand for said crypto token.
Cardano (ADA), Avalanche (AVAX) and Calyx Token (CLX) are three such cutting-edge cryptocurrencies that could skyrocket in value by 2022.
To begin with, Cardano (ADA) has a market capitalisation of $26.6 billion. Cardano (ADA) is the world’s ninth largest cryptocurrency and one of the first to use a proof-of-stake mechanism to validate transactions.
Cardano (ADA) has made sure that all of its technical developments go through a rigorous peer-review process so that they can be tested before going live. According to Cardano’s (ADA) developer team, this process ensures the blockchain network’s durability and stability.
The Cardano (ADA) blockchain, like Ethereum (ETH), is designed to execute smart contracts, allowing it to host a variety of DeFi projects on its platform. While Ethereum (ETH) has the advantage of being the first to market, Cardano (ADA) outperforms it in terms of scalability and costs. Cardano’s (ADA) network, for example, can process 250 transactions per second compared to Ethereum’s (ETH) 15 transactions per second.
Cardano (ADA) will soon receive a major upgrade that should significantly improve its performance. A dApp store and a crypto wallet, where users can store and trade cryptocurrencies, are likely to be included in the upgrade.
Avalanche (AVAX) claims to be the fastest smart contract platform among blockchain networks in terms of time to finality (TTF), which is the amount of time it takes to confirm a transaction without the ability to undo it.
The mainnet of the Avalanche (AVAX) blockchain network was launched in September 2020, and it has already attracted over 450 projects to its platform. It also has over 1,350 validators and 1.5 million community members around the world.
On the Avalanche (AVAX) blockchain, Oraichain launched its VRF (verifiable random function) today. The launch will give Avalanche (AVAX) developers access to a “truly decentralised, publicly verifiable random number generator that is impervious to attack, delivering enhanced functionality to dApps,” according to Oraichain, an artificial intelligence-powered blockchain ecosystem provider.
DeFi platforms, according to Oraichain, are vulnerable to hacking, and the VRF launch on Avalanche (AVAX) will make them 100% tamper-proof through a group signature verification process.
Avalanche (AVAX) developers will now be able to add verifiable randomness to all DeFi and NFT applications, bringing transparency to token airdrops, NFT, and other use cases.
Calyx Token (CLX)
Calyx Token (CLX) lacks the large market cap and big shot reputation of Cardano (ADA) and Avalanche (AVAX), having only very recently entered its presale stage. According to its website, each of the three presale phases has its own set of bonuses, which decrease as the next phase begins.
The novel liquidity protocol, Calyx Token (CLX) has already garnered remarkable traction in such an early stage of its development. The presale price of CLX is fixed at $0.0005, and is predicted to explode on launch.
Calyx Token (CLX) is becoming so popular among crypto enthusiasts because with Calyx Swap, tokens can be converted or swapped in a single transaction. This means that users will receive their swapped tokens at the best possible rates almost immediately after submitting a swap request.
With this kind of rapid technology, we’re truly witnessing the evolution of cryptocurrency.
Moreover, Calyx (CLX) adheres to the principles of decentralisation by being totally permissionless, thereby enabling an exceeding level of security. This also means that anyone can become a Liquidity Provider on Calyx Token (CLX) and earn a percentage of the swap fees, which is considered an effective way to maximise your earnings from passive income. The only requirement the platform has for becoming a Liquidity Provider is to contribute an equivalent amount of tokens in exchange for LP tokens.