We are giving a list of some of the best cryptocurrencies to invest in 2022 that have the chance of scaling up massively in the stock exchanges. They also have the ability to come into widespread usage in other sectors of the economy. This includes content delivery networks and cloud computing. We will not be talking about the advantages and disadvantages of crypto in this article. Things might develop quite differently in the future. Several of the top SaaS firms right now are going to be the leaders in taking up different aspects of blockchain tech. The best cryptocurrencies are those that give some of the best features that the sector has to give and others that provide good exposure to the market. So, it is good to diversify across several sub-sectors of the asset class. This is what our write-up attempts to do with our choices of the best cryptocurrencies.
We have picked cryptocurrencies with product marketing, execution, adoption, and tech progress. They will fulfill blockchain's premise as a disruptor that can modify the SaaS space completely in a highly innovative manner.
One of the best cryptocurrencies to invest in this year is the Lucky Block. The latest lottery platform seeks to bring a revolution to more than $300 billion international industry. It aims to increase the trust of the public in the present lottery products and remove the absence of transparency. They want to break up the grip of the present lottery operators that are centralized. This will be done by using the functions of decentralized networks. When Lucky Block is used, the lottery winners are not just generated in a verified manner, but all the people will also be able to vote on the charitable donations. Each transaction can be viewed on the public blockchain. Also, the cost savings that happen from operating such lottery draws on any blockchain are the grounds for better odds for the people who buy the tickets. The advantages do not finish here.
Lucky Block also gives a token distribution to every person who holds a ticket. A certain percentage of the entire jackpot goes to the holders of the tokens. There is also a small transaction fee on the token sales on its LBLOCK platform. It seeks to promote long-term investing instead of only speculative trading that is so rampant in the crypto space. The mission of Lucky Block is to supplement or replace the nation's lotteries with an international system that will be open to everyone. There is a lot at stake here for one of the best cryptocurrencies to invest in this year.
The Tron network is a decentralized app platform that functions with a Proof-of-Stake consensus method. The Tron Network was created by Justin Sun, who is now one of the most famous people in cryptocurrencies. A few years ago, the company shook the industry when it purchased the peer-to-peer file-sharing software BitTorrent. Because of that purchase, they could launch the BitTorrent Token in a short time. The momentum of Tron has slowed down a little from what it was some years ago. But it is still one of the best cryptocurrencies around.
The Sandbox is a digital asset monetization platform for gaming and the metaverse. The platform gives an ecosystem where each gamer can develop, own, and monetize all their activities with the assistance of non-fungible tokens and the utility token issued by the firm. The non-fungible tokens are digital certificates of ownership. The players can utilize these tokens to assign the correct ownership to the digital assets. These assets integrate into the games they play and trade on the marketplaces. The Sandbox gives various tools such as the Game Maker to allow the engagement of players. Also, the metaverse or the virtual world consists of digital lots of real estate that have been purchased with the tokens issued by the firm. Here, players can become virtual property developers and interact with other gamers.
Firms such as Facebook are going big on the metaverse as the next version of the internet. Here, people will shop, socialize, play, and work. The firms feel that there is good money to be made in this sphere. An unknown buyer shelled out nearly half a million dollars for a patch of virtual land next to the virtual residence of businessman and rapper Snoop Dogg recently. The Sandbox is one of the best cryptocurrencies for people to purchase this year.
Filecoin is the latest cryptocurrency to invest in purchase for exposure to decentralized data storage networks to look to turn the unutilized data storage into a resource for businesses. The firms with greater capacity can sell it to people who need more capacity. The exchange happens in an automated marketplace that is driven algorithmically. The network is developed on top of a protocol called the InterPlanetary File System. It functions both as a layer to increase the participation of people in the network and give security in addition to the peer-to-peer sharing of the storage. The firm behind this cryptocurrency is Protocol Labs.
The Enjin Coin is another metaverse product from the cryptocurrency world that focuses on gaming. They want to make the token the preferred digital asset for in-game materials. The cryptocurrency seeks to become the biggest gaming community platform on the internet. It already has the involvement of more than two hundred thousand gaming communities. There are a total of nearly nineteen million gamers on the platform. They are innovators in the field of non-fungible tokens. A token they developed won approval as a standard from Ethereum for specialized non-fungible tokens. Enjin is similar to the Sandbox in some aspects. It also gives software development kits to the developers to ensure swift deployment of integration into their games.
Decentraland is like the Sandbox in some aspects. It is also rooted in the virtual world and gives a great choice in the form of a cryptocurrency to invest in. In this system, there are LAND tokens that can be bought with the MANA token that functions on the Ethereum blockchain. The non-fungible tokens are utilized to give ownership to digital real estate. Just as in the actual world, the most valuable LAND is obtained where the places are hustling and bustling. The non-fungible tokens-focused firm Tokens.com shelled out nearly three million dollars on LAND in the virtual world. This indicates the increasing interest in the metaverse, and the commercial chances present there. The initial mortgage of the metaverse has already been taken out. TerraZero is a vertically integrated metaverse firm. It has given the financing to one of its own clients so that they can purchase real estate in Decentraland.
The Meta Platforms of Mark Zuckerberg are spending a lot of money to develop its metaverse. But cryptocurrency has also been creating an open metaverse for several years and at a far lower price.
The cryptocurrency Uniswap was created nearly eight years ago. In its case, the cryptocurrency functions with an automated market-making system. It removes the requirement for any order book. All the prices are determined by the ratio of the paired swapping assets. The currency is the biggest DEX by volume. The AMM system also removes the issue of low liquidity in the assets that are traditionally seen as difficult to trade by the usual market makers. On the DEX, any individual can become a market maker. Thus, liquidity does not remain an issue.
One cannot neglect the fact that the market of cryptocurrencies is one of the fastest moving and volatile markets. The previous year has been quite good for cryptocurrencies. This is because the market saw a lot of volatility in this segment. There were many currencies that got great increases, whereas the others failed. When looking at such volatility, what this year has in store for the digital currencies is something that each investor can look ahead to. These are some of the best cryptocurrencies that can help you get a hold in this segment and make decent profits.