The cryptocurrencies Bitcoin (BTC) and Ethereum (ETH) are presumably familiar to you if you’re knowledgeable on the subject of cryptocurrency. The two behemoths are at the top of the market capitalisation standings, with a combined market dominance of about 60%. Bitcoin is the industry standard, and it has a market capitalisation that is more than twice that of Ethereum. The popularity of ETH is due in part to its functionality, which includes facilitating the vast majority of the NFT market. The second-largest cryptocurrency is closing in on the top-ranked cryptocurrency, Bitcoin, thanks to this and a combination of factors.
However, there have been several downsides to this approach. In some instances, the Ethereum Network can become overburdened, delaying transaction speeds and driving up the notoriously high gas prices. As a result, many investors are turning away from Ethereum in favour of more stable investments. A number of cryptocurrencies, including Solana (SOL), Polygon (MATIC), and Seesaw Protocol (SSW), have the potential to be profitable investments.
Solana (SOL) is a cryptocurrency that was released in 2017 and has been dubbed an “Ethereum Killer” due to the rapid evolution of its ecosystem since its release. “Solana is an open network,” explains a developer for the project. Anyone can begin constructing structures on it. With its features, it can deliver DeFi (decentralised finance) solutions to businesses and individuals. It can compete with Ethereum by offering transactions that are both faster and less expensive.
SOL appears to have a bright future ahead of it. Customers will be able to pay on the Solana Network using a stable coin such as USDC or SOL in the near future thanks to the introduction of Solana Pay. Another area where SOL is catching up with ETH is in Non Fungible Tokens (NFTs). By 2022, Solana, with its cheaper transaction fees and virtually endless potential for growth, has the potential to become one of the top five crypto assets.
Polygon is also aiming to alleviate the congestion on the Ethereum blockchain. The fact that it is a layer-2 blockchain means that it can assist decentralised application (DApp) developers in avoiding expensive gas fees. Its native coin, MATIC, is used to pay for the Polygon Network’s far lower fees. NFTs on the Polygon chain has been steadily gaining in popularity over the last few months. The number of transactions has increased by 7000% since the beginning of 2021, reaching a peak of 8.9 million in June 2021.
Seesaw Protocol (SSW)
Seesaw Protocol (SSW), in contrast to Solana (SOL) and Polygon (MATIC), offers a more flexible alternative to a congested Ethereum (ETH) network. With this project, the Binance Smart Chain (BSC) will be able to perform cross-chain swaps between the Ethereum and Polygon blockchains. It is possible for holders to bridge between blockchains and circumvent any networks that are currently congested or charging higher fees by using SSW.
After more than 2 months of a presale, Seesaw Protocol finally launched to the world on the 8th of April. Since the start of its presale on the 25th of January, SSW increased from $0.005 to $0.21; a staggering increase of more than 4000%.
More on Seesaw Protocol:
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