The 2 main cryptocurrencies to buy and never sell!

The cryptoCurrencies are a speculative asset class, but major blockchains such as Solana (SOL -7.09%) and Cardano (ADA -4.81%) have key advantages over rivals in terms of sophistication and potential uses. Let’s see why their innovative designs and technical capabilities could create lasting value for investors.

1. Solana

With a market capitalization of over $ 20 billion, Solana is the seventh largest cryptocurrency. And it’s not hard to see why. See the article: The Spanish tax agency warns cryptocurrency investors against income tax.. Blockchain’s blazing speed and its many fintech use cases could help it maintain its dominance for decades to come.

Solana is designed to be a platform for decentralized applications (dApps), which are programs that use smart contracts to offer services on the blockchain. DApps expand the uses of cryptocurrency beyond just storing and transmitting value. But the increase in traffic has caused scalability problems for the current market leader, Ethereum.

With a transaction capacity of 50,000 per second (compared to Ethereum’s 15), Solana is better able to handle large volumes of dApp activity. And in the long run, it can win market share over its rival.

But Solana’s developers weren’t limited to dApps. They also aim for real utility in the fintech industry.

In February, the team launched Solana Pay, a peer-to-peer payment system designed to allow merchants and customers to interact without relying on traditional financial institutions like Visa or Mastercard. Solana Pay allows users to send and receive Solana’s native token, SOL, and other supported currencies, such as the USD currency, which is pegged to the US dollar. While Solana isn’t the first blockchain to take on the payments industry, its top speed gives it a huge advantage over its rivals.

2. Cardano

Cardano, which is also worth more than $ 20 billion, is the eighth largest cryptocurrency, just behind Solana. See also: Bitcoin (BTC): Here’s Why You Should Buy BTC Now And Keep It Long Term!. And while he can’t match his close rival in terms of raw technical prowess, he makes up for it with an aggressive development track record that could help him dominate the industry in the long run.

Unlike Solana, Cardano doesn’t have the fastest speed in the industry. With a transaction capacity of 250 per second, it can beat Ethereum, but it is certainly not at the forefront of blockchain technology. That said, investors should be betting on Cardano’s future, not his present.

Its developer, Input Output Hong Kong (IOHK), presented a step-by-step strategy to scale the platform. The first three phases, dubbed Byron, Shelly and Goguen, focused on launching the platform, basic design and support for digital applications. The next phase, Basho, will focus on scalability.

IOHK suggests that the technologies involved in Cardano’s Basho phase could potentially bring its transaction capacity up to 1 million per second. But the developer points out that this is an ambitious goal. And it plans to scale the platform based on demand.

Solana and Cardano look set for long-term success thanks to their advanced technical capabilities and active development teams.

💎 Open a free account to invest in cryptocurrencies!

CoinHouse allows you to easily invest in cryptocurrencies. Creating an account is free and takes only a few simple steps.

📈 Exchange cryptocurrencies online in just a few clicks!

BitPanda allows you to easily trade cryptocurrencies online. Creating an account is fast, free and very simple.

Be vigilant and consult your financial advisor before making any investment decisions. Mirror-Mag cannot be held responsible in case of bad investments. Before using any third party service, you should do your research.

Almmaye’s latest articles (see all)

Leave a Comment