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CATEGORY: top 3


Small Investments, Big Returns: Top 3 Cryptos Under $3 to Watch

Author: Prasanna Peshkar
Germany
Jun 29, 2023 10:45

Small Investments, Big Returns: Top 3 Cryptos Under $3 to Watch

Let's take a closer look at these crypto gems and the calculations that support their growth potential. Let's take a look at this top 3 cryptos.

Mar 13, 2023 10:45

From Bank Crash to Crypto Comeback: These 3 Coins Could Rebound Stronger After the Crash!

Which three cryptocurrencies are likely to benefit in the coming weeks? Let's take a look at Cryptocurrencies after bank crash in more detail.

Mar 02, 2023 07:05

Cryptos are Consolidating! Here are 3 Cryptos to Buy in March 2023

There are still some coins that are worth investing in. In this article, we look at 3 cryptos to buy in March 2023. Did yours make the list?

Jan 28, 2023 07:10

Top 3 Altcoins to BUY in February 2023 – Best Crypto Investment!

The crypto market is moving higher! Based on current market trends and expert analysis, here are the top 3 altcoins to buy in February 2023.

Jan 10, 2023 02:25

Top 3 Cryptos to BUY in January 2023 – The Bullrun is HERE?

The crypto market is on the move! Which coins should you bet on in the near future? Let's list the top 3 cryptos to buy in January 2023.

Jan 01, 2023 10:45

Top 3 Undervalued Cryptocurrencies for 2023 – These Coins Might Astound You!

Which cryptocurrencies are presently undervalued. This article is about the top 3 undervalued cryptocurrencies for 2023

Nov 19, 2022 07:05

Top 3 FIFA Tokens: Which Crypto will Benefit BIG from the 2022 World Cup?

Which cryptos can experience a boost from the World Cup? In this article, we list the top 3 cryptos that are known as Fifa tokens.

Nov 03, 2022 07:05

Top 3 cryptocurrencies To Buy in 2023

This article is all about the top 3 cryptocurrencies that could take off in 2023. Let's take a look at it in more detail.

Oct 29, 2022 07:05

Top 3 Blockchains for Non-Fungible Tokens (NFT) for 2023

In this article, we present the current situation around NFTs and want to take a look at the top 3 blockchains for NFT in 2023.

Oct 08, 2022 07:05

Top 3 Cryptos to BUY NOW! Crypto Arena getting SWAMPED?

The crypto arena is getting swamped with different cryptocurrencies. We'll make it easy! Here are the top 3 cryptos to buy now.

Aug 05, 2022 09:23

Top 3 Altcoins to Buy in July 2022 – Best Crypto Investments!

In this article, we're going to go over the top 3 altcoins to buy in July 2022. Our analysis will touch base on the fundamental side.

Jun 25, 2022 07:05

Crypto Market UP and Those Coins Gained the MOST!

Crypto market up! Which crypto performed the best during the market rally? Here are our top 3 from the past 7 days ;)

May 21, 2022 07:05

Top 3 Undervalued Crypto to BUY after the Crypto Crash

In this article, we're going to list the top 3 undervalued crypto with big potential once the market recovers and turn into an uptrend.

Apr 24, 2022 07:20

Top 3 Cryptos of the Week: Those Coins made +20% GAINS!

In this article, we talk about the top 3 cryptos of the week, and explain what their project stands for. Which cryptos made it to this list?

Top 3 Altcoins Outperforming Bitcoin In 2022

Author: Owotunse Adebayo
Germany
Mar 24, 2022 10:45

Top 3 Altcoins Outperforming Bitcoin In 2022

Cryptocurrencies are digital tokens or coins that exist on the blockchain. Alternatively, a blockchain is a digitally distributed, decentralized, and public ledger that exists across a network. One of the first real applications of blockchain is in the cryptocurrency system. Blockchains help cryptocurrency to maintain a secure and decentralized ledger of transactions. The first cryptocurrency to utilize the complete application of Blockchain is Bitcoin, which Satoshi Nakamoto created in 2009. Since then, many other cryptocurrencies have sprung up with similarities to Bitcoin and utilizing Blockchain technology. These other cryptocurrencies, aside from Bitcoin, are called altcoins. Fortunately, while Bitcoin is still very dominant in the crypto space, these altcoins have proven to be very strong. However, Ethereum (ETH), Lucky Block (LBLOCK), and Aave (AAVE) are three of the most important altcoins in 2022.

What Is Bitcoin? Fig. 1. BTC/USD Chart on TradingView

Bitcoin is the first cryptocurrency to exist and continues to be the pillar of the crypto market, even in 2022. The cryptocurrency was created by a pseudonymous person or group- Satoshi Nakamoto, in 2009. Its system consists of a collection of nodes or miners that run its code and store then on the blockchain. At the time of writing, there are currently about 14,000 nodes on its system. Bitcoin is also one of the first virtual currencies to integrate peer-to-peer technology in its instant payments functions. One of the essential participants on the Bitcoin network is the miners or validators. They are tasked with processing transactions and creating new blocks and incentivized with rewards. Unlike fiat currency, which is printed at a matching rate with the economy, one can only mine Bitcoin.

Bitcoin mining is the process of releasing new Bitcoin into circulation by miners. The process is completed by miners when they solve computationally tricky puzzles to discover a new block. These newly discovered blocks are then added to the blockchain. The total amount of Bitcoin in existence is 21 million tokens, with 18.875 million already in circulation. There are still about 2 million tokens yet to be mined. Bitcoin is available for purchase on Binance, Coinbase, OKEx, and thousands of other crypto exchanges globally.

How Does Bitcoin Dominate The Crypto Space?

Since its existence, Bitcoin has remained the leading cryptocurrency in the market. Its market capitalization is not only the largest, as its market price has remained very high. Despite the high price volatility associated with cryptocurrencies, Bitcoin's price has remained unshakeable in the past few years. Many people believe the global adoption of cryptocurrencies is why it remains so valuable. Unlike many cryptocurrencies, one can use Bitcoin to pay for goods and services globally.

North American nation- El Salvador, in June 2021, became the first country to adopt Bitcoin as legal tender officially. This is one of the reasons why the cryptocurrency has remained dominant in the crypto market. Also, despite the security issues facing the systems of many cryptocurrencies, Bitcoin's system is highly secured. Other factors that have improved the value of the cryptocurrency are its scarcity, market demand, and the marginal cost of production. This is why the cryptocurrency, which traded less than $1 in 2011, currently trades around $42,000.

Top 3 Altcoins Outperforming Bitcoin In 2022

Although Bitcoin still remains the king of the crypto market by far, it has performed below expectations this year. Even though the digital asset has seen some price gains, there are tokens that have done better this year. Below are the top three tokens that have posted a massive performance since the start of 2022;

#1 Ethereum ($ETH) Fig. 2. ETH/USD Chart on TradingView

Launched in 2015 by Vitalik Buterin and Gavin Wood, Ethereum is the leading altcoin in the crypto ecosystem. It is a decentralized ecosystem that enables smart contracts and decentralized applications (DApps). These smart contracts and DApps are done without control and third-party interference. Ethereum currently plays host to multiple DeFi products and DApps, making waves in the crypto sphere. Ether is its native and governance token and subsequently powers the network. The token is the fuel and tool that developers use for activities within the network. The network transitioned from proof of work (PoW) to a proof-of-stake (PoS) consensus mechanism to increase its speed and value.

Since that move in December 2020, the network has improved transaction speed coupled with low-energy consumption. Contrary to Bitcoin's PoW mechanism, Ethereum's PoS allows users to stake their Ether to the network. Staking their Ether helps network security and transactions are swift. In return for their stake, users earn rewards in Ether, proportionate to their stake. Ethereum has a circulating supply of 120,029,527 ETH coins and no maximum supply. It is available for purchase and trading on Binance, Coinbase, OKEx, Kraken, and many other crypto exchanges.

Why You Should Buy $ETH In 2022

Ethereum remains the most successful altcoins amongst thousands of them, and that status quo will not change soon. The token has risen remarkably from its less than a dollar price in 2015 to an All-Time High (ATH) price today. The launch of the Ethereum 2.0 Beacon Chain in December 2020 also propagated the current success of the network. Beacon Chain was launched to allow users to begin staking on the network. That move has seen the token rise remarkably in prices by about 500% since 2020, hitting several All-Time highs (ATH). 24hours trading volumes is at $11,574,859,675.94, with market cap at $353,610,312,572.63. Its plan to fully implement Ethereum 2.0 in 2022 will also see the token hit several ATHs in 2022. Despite the bull run of the altcoin, it currently trades at an ATH price of $2,956 at writing.

#2 Lucky Block ($LBLOCK)

Lucky Block currently operates on Binance Smart Chain (BSC), envisioning a global lottery with players using Blockchain protocols. It aims to build transparency and trust in gaming, a trait that is rare in the space. With the application of Blockchain technology, it has built a system where players have equal opportunity in lotteries and gaming. One of the unique features of Lucky Block is its application of blockchain in ensuring the existence of fairness. The protocol believes that fairness is paramount in the relationship between a lottery and the players.

There is a reduced chance of forgery, tampering, or information between both parties. The native and governance token of the network is LBLOCK and has about 100,000,000,000 coins in circulation. 20% of the token circulation is for its team allocation and partners. 22.5% is for Marketing and presale. 2.5% is for its development team and locked liquidity pancake swap. The last 10% is for private sales. LBLOCK is the fastest-growing cryptocurrency in the history of the crypto market. It is currently available on Pancakeswap, LBank, and many other crypto exchanges.

Why You Should Invest In $LBLOCK In 2022

LBLOCK is still a relatively new token in the crypto market but has since thrived. Since the token began trading in February 2022, no other cryptocurrency has displaced it in terms of performance. This further cements how important the token will be for investors in 2022. 24hour trading volumes have surged high as $1,789,872.54, as its market capitalization is now at $362,882,574.30. The in-built burn rate of the network means that its supply decreases over time. The implication is that the token's price will continue to increase over time. This is why LBLOCK will be one of the most important and best altcoins to buy in 2022. The token is trading at an All-Time High (ATH) price of $0.003776, expected to hit $0.5 by December 2022.

#3 Aave ($AAVE) Fig. 3. AAVE/USD Chart on TradingView

The growth of the DeFI space has been remarkable, as many of the protocols therein have continued to be successful. Since its launch in 2017, AAve has been one of the DeFi protocols providing bespoke services to the crypto community. Aave is a DeFI protocol that allows crypto users to lend and borrow cryptocurrencies, earning rewards. Lenders on the protocol earn rewards by depositing their digital assets into a liquidity pool. Alternatively, borrowers use their digital assets as collateral to take out flash loans from this liquidity. The Total Value Locked (TVL) in the protocol is $12,924,407,830. The native token of the protocol is AAVE and is one of the most valuable tokens in the DeFi space. It has a circulating supply of 13,648,585 AAVE coins and a maximum supply of 16,000,000 AAVE coins. It is currently available for purchase on CoinDCX, Binance, CoinBene, and OKEx exchanges.

Why You Should Buy $AAVE In 2022

AAVE ended 2021 as one of the best DeFi tokens of the year and has continued in the same vein. In 2020, the project became the most valuable, as it witnessed the highest amount in TVL. Since then, the project has seen patronage by many investors, which has massively impacted AAVE. The fact that people can lend and borrow up to 20 cryptocurrencies remains a big selling point of the project. Crypto analysts predict that the token will hit more highs in 2022 as demand continues to shoot up. Its 24hour trading volume is at $266,320,762.13, while market capitalization is now at $2,501,861,742.81. Aave has fallen far from its ATH price of $666.86 attained ten months ago and now floats around $160 today. However, there is optimism in the AAVE community from investors, as they predict it to end 2022 on $500 minimum.

Conclusion

Bitcoin remains the most valuable and leading cryptocurrency in the crypto market, and it continues to dominate the market. However, many altcoins are springing up and holding immense value. Ethereum, Aave, and LBlock are the top 3 cryptocurrencies that have outperformed Bitcoin this year. The trajectory they began with in 2021 was a very good factor, as crypto analysts predict they will finish it in the same vein. However, if that will happen, only time will tell.

Top 5 Altcoins© Cryptoticker

Mar 13, 2022 07:10

Top 3 Altcoins to Buy during the Crypto Bear Market – Cryptos about to BOOM!

The crypto market is currently in a severe correction. The Bitcoin price is currently struggling with some difficulties to break the 40K price barrier. External factors in particular, such as a possible increase in the key interest rates of the central banks and the war in Ukraine, have had a negative impact on the price. But 2022 could also be bullish again. That's why in this article, we present the top 3 altcoins that could explode in 2022.

Can Cryptos become bullish again in 2022?

In the last few months, Bitcoin and other altcoins have fallen sharply. There were a few reasons for this in the last few weeks:

  • The discovery of the new virus variant in December 2021 caused extreme damage to the market.
  • Due to the strong inflation, the central banks want to raise the key interest rates, which reduces the risk appetite of investors.
  • The war in Ukraine caused prices to fall worldwide, which also hurt cryptocurrencies.

In the last 3 months, there have been heavy losses in the cryptocurrency market.

Fig.1 Total Crypto Cap 1-day chart showing the crash in prices since Q4 2021 - TradingView

On the other hand, there are signs that Bitcoin and other cryptocurrencies could rise again.

  • With a possible end to the war in Ukraine or at least an easing of the situation, the global markets should rise again and thus the cryptocurrencies should rise again.
  • The pandemic is coming to an end, which should also push markets higher.
  • Bitcoin network fundamentals such as hash rate and blockchain activity are increasing. These are signs of a bull market as external factors weaken.
  • The adaptation of the blockchain is progressing, which should give Altcoins a boost after the correction.
  • The great parabolic bull run that occurred in the crypto market in late 2013 and 2017 failed to materialize in late 2021. According to the theory of the extended Bitcoin cycles, this could now follow in 2022.
Fig.2 Bitcoin hash rate for the last 12 months - Blockchain.com Top 3 Altcoins to Buy during this Bear Market #1 Cardano (ADA)

Cardano’s ADA token, like almost all other cryptocurrencies, has lost a lot of value in the last 3 months. Cardano experienced an excellent run in the late summer of 2021, which brought the cryptocurrency to 3rd place by market capitalization. But now the ADA course is only at 0.79 US dollars. 

Cardano is perhaps the most technically sophisticated blockchain on the crypto market. It combines technical brilliance with fast transaction speeds and smart contract functions. This means that the Cardano blockchain can form the basis of decentralized financial products (DeFi) and non-fungible tokens (NFTs). Cardano is referred to as the "Ethereum killer" and is further developed according to scientific principles. In 2022, Cardano could make another big leap due to the Basho development phase, which should massively increase scalability.

#2 Polkadot (DOT)

Polkadot is another blockchain that has been quiet for the past few months due to sharp rises in cryptocurrencies like Solana and Terra and the sharp correction. The DOT token is the 11th cryptocurrency by market capitalization. Polkadot has enormous potential as a network.

Polkadot has plans to become the "Internet of Blockchains". What is special about the blockchain are the so-called “parachains, which can create connections between different blockchain networks. As a result, Polkadot represents interoperability between the most important blockchains, which could bring a revolution in the crypto market and in the Web 3.0 project in the future. 

#3 Altcoins to Buy: Terra (LUNA)

Terra (LUNA) is one of the most interesting cryptocurrencies on the market. In the Terra Network, the price stability of stablecoins is ensured by algorithms. This makes these stablecoins independent from physical currency backing. Terra wants to build a flourishing ecosystem on this premise.

The platform's native token is known as LUNA. The LUNA token ensures the price stability of the stablecoins. However, as a “real” cryptocurrency, LUNA can increase in price over time, which makes an investment interesting. With its innovative concept, Terra is making great progress in the DeFi sector and, according to “Total locked value” at DeFi, is now number 2 behind Ethereum. Therefore, Terra (LUNA) is one of the most promising cryptocurrencies in 2022.

Those Altcoins to Buy are available on crypto exchanges such as  Coinbase  and  Kraken  .

Crypto altcoins© Cryptoticker

Feb 27, 2022 07:15

Top 3 Altcoins to BUY in March 2022 – Best Cryptocurrency Investments

Like every month, we release interesting cryptocurrency projects that are under the radar. Many traders and investors often look around to search for those Altcoin gems, that have a huge untapped potential. It is not enough to find a cheap coin and go all in. There are many factors that come into play when choosing a project to invest in, like project goal, practicality, clear timeline, founders, and many other study points. We at CryptoTicker do this job on your behalf, so you just get to the buying. 😉 So without further ado, here’s our extensive list of the Top 3 Altcoins to Buy in March 2022.

3- Cardano (ADA)

Cardano is a delegated Proof of Stake blockchain (dPoS), that supports smart contracts similar to Ethereum. The marketing of this project propagates a scientific approach. The development under Charles Hoskinson is rather slow, with multiple deadlines already pushed forward. With the launch of the staking-mainnet in mid-2020 and the Alonzo update, Cardano was finally able to accomplish an important milestone.

In the last few weeks, we have often spoken about the new developments at Cardano. In January, Cardano addresses exploded on the network. Furthermore, the Basho update is in progress, which is the new development stage of the network and should increase the scalability of Cardano. Like the other smart contract platforms, Cardano also suffered high losses in the last few weeks of the major market correction. Given the massive potential of Cardano, the token ADA is probably one of the cryptocurrencies that are extremely undervalued at the moment and have the chance for big profits in March.

  • Current Price: USD 0.88
  • Market Capitalization: USD 29.8 Billion
  • Market Cap rank: #7
  • Exchanges available: BinanceGate.io, Coinbase, KuCoin

Fig.1 ADA/USD 1-day chart - TradingView

2- Terra (LUNA)

Terra is currently one of the hottest projects in the market, which is why many investors are interested in investing in it. Founded by Do Kwon and Daniel Shin, this project has existed for over 3 years. Terra is essential a project that leverages decentralized finance (DeFi) technology to create a platform for rendering financial services.

The protocol creates stablecoins, usually pegged to currencies or other cryptocurrencies. For instance, many ecosystems create stablecoins pegged to the dollar to assure asset stability. This makes it easy for users to access financial services, such as saving, lending, or borrowing money. Previously, it was only the traditional financial system that encompassed financial services. However, things have changed, helping crypto and digital asset enthusiasts to enjoy decentralized services.

Most recently, the Luna Foundation Guard (LFG) funded a sum of $1 billion to further develop the integration of the stablecoin TerraUSD (UST) into the Terra ecosystem. UST is the fourth largest stablecoin after Tether (USDT), USD Coin (USDC), and Binance USD (BUSD). With the integration of the UST, Terra's LUNA token will continue to strengthen. The positive price development could continue in March. 

  • Current Price: USD 75.5
  • Market Capitalization: USD 28.5 Billion
  • Market Cap rank: #9
  • Exchanges available: BinanceGate.io, KuCoin

Fig.2 LUNA/USD 1-day chart - TradingView

1- Avalanche (AVAX)

Avalanche entered the crypto sector as a haven that houses smart contracts as far back as 2020. After its creation, it allowed developers to create decentralized applications and custom blockchains, among other things. Its developers, Ava Labs, created the smart contract platform to use a proof of stake protocol. In the last few years, the platform has provided a massive rival to Ethereum. A big advantage is the enormous speed of the blockchain, which can process up to 4,500 transactions per second.

Avalanche has enormous growth potential, especially in the area of ??NFTs. It is now possible for Pinatacloud developers to publish NFT collections on Avalanche. In addition, the DeFi area at Avalanche is also growing strongly. The price of the AVAX token could rise massively again in March. 

  • Current Price: USD 79.6
  • Market Capitalization: USD 19.4 Billion
  • Market Cap rank: #10
  • Exchanges available: BinanceGate.io, KuCoin, Coinbase

Fig.3 AVAX/USD 1-day chart - TradingView

Conclusion

Looking for those undervalued projects that are about to boom is always a good plan. Many projects solve vital real-life problems, and those are the ones worth investing in, especially if their tokens adjusted heavily recently. This list of the Top 3 Altcoins to buy in March 2022 is a simple pick from the recent falls, but there are definitely many other projects that can increase in valuation. Invest responsibly, and always do your own research.

Stay Ahead, Stay Updated
Rudy Fares

Crypto altcoins© Cryptoticker

The post Top 3 Altcoins to BUY in March 2022 – Best Cryptocurrency Investments appeared first on CryptoTicker.

Feb 17, 2022 07:15

Forget about Bitcoin…Here are 3 Cryptos that might make you a Millionaire!

The race to find a cryptocurrency that can boom in prices is never easy. There are more than 10,000 cryptocurrencies in existence as of February 2022. With this high amount of tokens in the market, the search will definitely be hard. But fear not! In this article, we compiled a list of the top 3 cryptos that have the possibility to explode in prices and make you millions.

How to Choose which Crypto to Buy?

It is true that most cryptocurrencies are correlated with Bitcoin. When BTC is up, most of the market would be up as well. However, that correlation is definitely not a 1 to 1 relation. That's exactly what crypto traders look for when day trading cryptocurrencies. Using a little bit of leverage, combined with choosing the correct cryptocurrency would definitely be very profitable.

When approaching cryptos, it is important to look for the below 3 factors:

  • The overall community hype: This means that the community is awaiting an important event or milestone in the project's roadmap. When there is no event to look forward to, the token price wouldn't be much interesting.
  • The overall cryptocurrency market direction: It is crucial to start by assessing the macro direction of the crypto market. If the entire market is falling, it would be risky to enter a buy trade in a specific token, even if the fundamentals are there.
  • The specific token's technical formation: This is the last step, or the last trend confirmation. If there is an interesting formation such as a triangle or a resistance awaiting for the broken, the price would usually surge very high. Combined with the above, this would provide the perfect trade setup.

Top 3 Cryptos to Buy in February 2022

#1 HEX (HEX)

HEX is a very interesting project that flips traditional banking and makes it decentralized. It aims to replace the Certificate of Deposits (CODs) in banks and moves them to a decentralized blockchain. HEX uses the Ethereum network as an infrastructure for the transaction processes but deals with the consensus code and staking mechanism on its very own HEX smart contract blockchain.

The reason the token HEX is a good buy is that previously in 2021, it managed to make more than 4,000% within 4 months. If you invested just $1,000 back then, you would have made $4,000,000! Now, of course, that was from the previous all-time high phase last year, but with the current price being around $0.20, reaching that high price from the beginning of 2022 alone can make you more than 75%!

Fig.1 HEX/USDT 1-day chart showing the potential gains - TradingView

#2 Ethereum (ETH)

Ether is definitely still tied to Bitcoin and correlates positively with BTC. On the other hand, February can be a great month for ETH. We might not go back to the all-time high of around $4,900, but we might see a 20-30% increase in prices. In fact, $1 Billion worth of ETH was burned in the past 30 days due to record high OpenSea NFT transactions.

Many NFTs are selling higher and higher despite the crypto crash that occurred. With Ethereum 2.0 coming soon, ETH price should definitely explode higher.

Fig.2 ETH/USD 1-day chart showing the potential of ETH - TradingView

#3 Ripple XRP

The XRP token has been sitting and barely moving for months now, despite the recovery that occurred last week. XRP can still go higher and start to move again soon, as the SEC lawsuit could be ending very soon. If this happens and XRP gets relisted on multiple exchanges, this is where XRP price can explode and potentially reach its previous all-time high price of around $3 and beyond.

XRP is still undervalued currently and has been so for a long time. Despite all the negative connotations around the Ripple project, it still stands as the 7th largest crypto project by market cap. XRP is one of those cryptos that never reached its previous all-time high, and this can all change.

Fig.3 XRP/USD 1-week chart showing the potential of XRP - TradingView

Conclusion

The above-mentioned cryptocurrencies are definitely not the only ones that have big potential upwards. On the other hand, it's always a good idea to start somewhere and understand the assessment behind each cryptocurrency. Additionally, it is important to only invest money that you are willing to lose. Nothing is certain in the crypto world, so always do your own research.

3 Lesser Known Cryptocurrencies© Cryptoticker

The post Forget about Bitcoin…Here are 3 Cryptos that might make you a Millionaire! appeared first on CryptoTicker.

Top 3 DAO that are Shaping the Crypto Space in 2022

Author: Owotunse Adebayo
Germany
Feb 10, 2022 07:10

Top 3 DAO that are Shaping the Crypto Space in 2022

Since Bitcoin became the first actual life application of blockchain, decentralized-based technology has continued to grow in popularity. The application of blockchain has continued to cut across variant facets of life. The decentralized and transparent nature of blockchain has made it an essential technology today. However, that growth has continued to birth alternate and more substantial entities, aiming to make blockchain a household name. One of such institutions is Decentralized Autonomous Organizations (DAOs).

What Are DAOs?

DAOs are Blockchain entities with properly governed rules of leadership and no central leadership. A DAO is simply a Blockchain community where its members make and management decisions. Decisions are made from the bottom to the top and via proposals voted by the group. Due to no hierarchy in place, they are collectively owned, governed, and managed by their members. They are built on open-source blockchain, with publicly available codes and financial transaction statements. It was created in 2016, was one of the first created in history. Unfortunately, the project did not meet its expectations, as internal unrest made it unsuccessful. The failure of the project led to the ultimate split of Ethereum Blockchain.

How Does DAOs Work?

It is worthy to note that DAOs are fully independent and transparent. However, to participate in one, you would mainly be expected to own the Blockchain token. DAOs typically operate via smart contract, which establishes the entity's rules. Smart contracts are a bunch of codes that automatically execute when specific tasks are completed, or some criteria are met. Firstly deployed by Ethereum, they have remained popular amongst many blockchains. Since smart contracts are used to establish the rules of the DAO, users with a stake are the biggest beneficiaries. They are rewarded with voting rights and capabilities of influencing how they work for their stake. They can also create new governance proposals with such powers vested in them. However, proposals will be approved, subjected to the majority of stakeholders' votes. This will prevent them from being spammed with irrelevant proposals and ensure that fairness ensues.

How Do You Create DAOs?

In launching a DAO, the first step is to ensure a proper and adequate smart contract is in place. The idea behind a smart contract is to set rules that will govern and guide members of the DAO. These rules are the initial governance structure and might be challenging to modify in the future if they aren't correctly set. The next step to creating it is funding, which is usually done via the sales of tokens. Since funding gives members the right to participate in governance, good rules must be in place to guide it. Users who participate in funding automatically become stakeholders. The next step is deployment after enacting a valid smart contract and funding. The next thing is for the DAO to be deployed on a Blockchain. The future of the DAO, after being deployed, will now be left in the hands of its stakeholders.

Advantages of DAOs

Since DAOs are internet-native organizations, their advantages over traditional organizations cannot be over-emphasized. However, listed below are the advantages of DAOs.

Trust and Transparency

Unlike traditional organizations, DAO members do not have issues surrounding trust. All they need to worry about is the code behind the project, which is always publicly available. Investors do not have issues concerning decisions or implementations, as they are always readily available for all.

No Hierarchical Structure

The lack of a hierarchical structure means that every member can propose changes to the DAO. It will happen as long as they get a majority vote for implementation. Stakeholders can contribute equally without the fear of being sidelined or undermined. The voting system in DAOs, also ensures that internal rifts are usually settled amicably.

Low risk for investors

Investors in a DAO can pool funds together for future investment or commitment to another project. This means that they are open to huge rewards on their little investments. On the other hand, should a loss occur, it will be minimal, as the risk has been shared amongst members.

DAO eliminates Principal-Agent Dilemma

DAOs solve the Principal-Agent Dilemma (PAD) through their community governance policy. PAD is a conflict in priorities between an asset owner and one assigned to control the asset. However, members of a DAO do not need an agent to act on their behalf. This is because members are only allowed to join after understanding the rules of the DAO.

Disadvantage Of DAOs

Like every organizational setup, DAOs are not perfect. The majority of DAOs globally are still plagued with issues of legality and security. Since they are distributed, it is always so easy to fall on the wrong side of the law. Smart contracts' unfortunate flaws have also created huge security threats to their operations globally.

Top 3 DAOs

Over the last few years, DAOs have grown in popularity, achieving incorporation into various Blockchain projects. They have remained popular in the DeFi space, as they allow applications to become fully decentralized. Dash is one of the first examples of a DAO project, as the blockchain typically operates as one. The Token holders of Dash can actively vote on governance proposals to hire new contributors. Listed below are also a few DAO projects currently thriving in the Blockchain space;

#1 KyberDAO

Launched in July 2020, Kyber DAO originates from the Kyber Network, an on-chain liquidity strategy authorizing consistent trade of tokens. Like every other one, individuals who hold its KNC tokens can participate in decisions concerning Kyber. With a market cap of more than 227 million dollars, it is one of the biggest globally.

#2 Aragon

Hosting more than 1,500 DAOs with a gross valuation of more than $350 million, Aragon is the biggest. However, it is also a DAO, as ANT token holders can influence a decision in the blockchain. Simultaneously, they can agree or disagree with internal decisions and start Aragon-empowered DAOs. With a market cap of more than $150 million, Aragon is one of the biggest in the blockchain space.

#3 GnosisDAO

As a program designed to help DeFi space developers, GnosisDAO is Gnosis's latest DAO. Like the others, individuals who hold its SAFE tokens can participate in governance decisions in the blockchain. It is currently a fast-growing project and is expected to grow exceedingly this year.

Conclusion

Despite not being popular or rampant, DAOs are important pieces of the Blockchain community globally. As internet-native organizations, they have the potential to change the way corporate governance works completely. The trust, transparency, and lack of hierarchy make them ideal for investors to join the governance of a Blockchain. However, with issues relating to hacks and legality concerns, they still have a long way to success.

Will the DAOs Return in 2019?
© Cryptoticker

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Jan 15, 2022 07:15

Top 3 Cryptocurrencies To Buy In The Next 30 Days

Bitcoin and thus the entire crypto market has suffered huge setbacks in recent days. But now the Bitcoin price appears to have finally bottomed out. It could go up again shortly. Therefore, this article is all about the top 3 cryptocurrencies that could be intriguing for users to make good profits in the next few days. Let's take a look at it in more detail.

Top 3 Cryptocurrencies: Ethereum (ETH)

The ether price dropped smartly during the previous correction. When Bitcoin suffered increased upsets for the first time in November, Ethereum stayed relatively steady. In the last crash, yet, the ether price sometimes fell below $3,000. In the meantime, the price has rebounded barely and went back over $3,300.

Many experts predict that Ethereum has the potential to touch $10,000 in the current cycle. Therefore, now appears to be a good chance to purchase cryptocurrencies like Ethereum.

Top 3 Cryptocurrencies: Dogecoin (DOGE)

Other than Ether, Dogecoin has been one of the cryptocurrencies that have surged in price over the past few days. Particularly the meme coins like Dogecoin and Shiba Inu have increased dashingly in the last few days. These coins still have massive growth potential during new bull runs. 

In the second half of 2021, the dogecoin was somewhat overpowered by the new star among meme coins: Shiba Inu. In the spring, yet, the DOGE accumulated massively in value. The first and second quarters of 2022 could also be massively prosperous for Dogecoin. Thus, you should not miss this opportunity now.

Top 3 Cryptocurrencies: Chainlink (LINK)

Tokenization will be one of the most prominent crypto trends in 2022 and for years to arrive. Decentralized oracles play a significant role in this. Oracles make it possible to correctly capture data outside of the blockchain and make it available on the blockchain. Chainlink is currently considered to be the most thriving solution for these oracles.

In the Bitcoin market crash, the LINK price was able to withstand the downward trend. However, the price of the LINK token still appears to be massively underrated. If the overall market picks up again, Chainlink could be one of the cryptocurrencies that users can use to make high returns.

You can purchase these cryptocurrencies on crypto exchanges  Binance,  Coinbase,  Kraken, and  Bitfinex.

Top 3 Cryptocurrencies© Cryptoticker

The post Top 3 Cryptocurrencies To Buy In The Next 30 Days appeared first on CryptoTicker.

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