The Top 2 Cryptocurrencies to Buy Right Now That Aren’t Bitcoin or Ethereum
The launch of Ethereum in 2015 ushered in a new era for the crypto industry. Thanks to its programmable nature, it extended blockchain’s utility beyond peer-to-peer payments, allowing developers to build software on a decentralized network. And like ordinary software, those dApps have a wide range of use cases, from DeFi services that go from services to video games.
Because corporate entities don’t control those apps, no one collects your private data in the background, and no one can censor your content.
That’s why Ethereum is popular with crypto investors, and the ETH token has long ranked as the second-most valuable cryptocurrency behind Bitcoin. However, rising transaction volume has exposed its lack of scalability, causing speeds to slow and fees to rise. Of course, developers are working on solving that problem, but there’s no expected solution until 2023.
Blockchain projects like Solana and Terra appear to have the scalability problem solved. Both are becoming popular, and they are most likely to be more valuable than Ethereum.
Solana
It’s a programmable blockchain powered by the SOL token. It’s a unique consensus mechanism that blends proof of stake and history protocols to accelerate network throughput.
Solana can handle 50,000 transactions per second (TPS) while achieving finality in as little as 13 seconds. To compare, Ethereum handles less than 15 TPS and can take up to six minutes to finalize the transactions.
Terra
The Terra blockchain features two primary coins.
· Terra stablecoin (TerraUSD) can be pegged to various fiat currencies.
· LUNA, a cryptocurrency designed to absorb volatility and help stable coins maintain their value.
They help each other. If rising demand pushes the prices of TerraUSD above $1, the system incentivizes token holders to convert LUNA to TerraUSD, which increases its supply and lowers its price. This works the same in reverse.
Both Solana and Terra are gaining popularity with consumers and investors. Thanks to the high demand for the SOL, it’s expected to surpass Ethereum. As for Terra, it is expected that the Terra stablecoins will translate into rising demand for LUNA, driving its price higher. Basically, the more Terra is used, the more LUNA will be worth.