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3 digital currencies that have practical applications that could be suitable for investment in 2024

attest Digital Currency Market Several months ago, a strong rising wave pushed... Bitcoin Currency (BTC)) surpassed its previous all-time high of $69,000 and also recorded several new consecutive highs, currently settling at a price of around $73,000. And Ethereum (ETH) currency price) is steadily approaching the $5,000 level.

As for speculators/gamblers on meme currencies, it seems they got their chance after two lean years. Afterward, many of them saw triple-digit increases.

The new entrant in the current market recovery is Cryptocurrencies linked to artificial intelligence, which has grown significantly since the launch of GBT Chat. It even rivals meme currencies in the top performance ranks.

Amidst this noise, there are other altcoins, which do not have a specific rating or momentum. They had mixed performances and most of them recorded good gains.

Read also: A Strong Warning From Coinbase About AI Hype

In this article, we will discuss three alternative digital currencies that may have remained in the shadows, but have practical applications and projects with clear and promising (if achieved) goals. It can be an important addition to the portfolio of any (non-speculator) investor in the digital currency market and blockchain technology in general.

Cardano (ADA)

Cardano is a blockchain platform designed to address some of the key challenges facing cryptocurrencies, such as scalability and consumption. It is based on the Ouroboros Proof-of-Stake (PoS) consensus mechanism, rather than the more energy-intensive Proof-of-Work (PoW) mechanism used in Bitcoin.

ADA It is the native digital currency of the Cardano platform. They are used to pay transaction fees on the network, participate in governance and create smart contracts.

What are the practical applications of Cardano?

Cardano can be used for a variety of practical applications, including:

  • Payment system: can be used Cardano ADA Coin To pay for goods and services online or in store.

  • Smart Contracts: Smart contracts can be used to create decentralized applications (dApps) such as decentralized finance (DeFi) platforms and prediction markets.

  • Digital Identity: Cardano can be used to create secure digital identities that can be used to access online services.

  • Supply Chain: Cardano can be used to track products in the supply chain and ensure their authenticity.

What are the growth opportunities for Cardano in the future?

Many experts believe that Cardano has the potential to become a leading blockchain platform.

Polka dot (DOT)

Polka dot (POINT) It is a multi-chain blockchain network that aims to connect different blockchains together, allowing the transfer of data and values ​​between them.

Polkadot can also be thought of as an “internet” for blockchain, allowing developers to create their own blockchains, called “parachains,” and connect them to the Polkadot mainnet.

Practical applications of Polkadot

  • Digital Identity: Polkadot can be used to create secure digital identities that can be used in various applications.

  • Decentralized Finance (DeFi): Polkadot can be used to create new DeFi applications, such as lending and borrowing platforms.

  • Supply Chain: Polkadot can be used to create more transparent and efficient supply chains.

  • Games: Polkadot can be used to create blockchain games.

The future of Polkadot

Polkadot is still a relatively new project, but it has a lot of potential. As decentralized applications become more popular, Polkadot will likely become a major platform for these applications.

attest Price of polka dot coins (DOT) has increased significantly since October 2023, and it appears that it is poised to increase further in the future, thanks to the many developments it has witnessed recently.

Chainlink is a decentralized oracle network that connects smart contracts on different blockchains with real-world data. This network allows developers to incorporate external data into their smart contracts, opening up enormous possibilities for new applications.

Chain Link Part (LINK) It is the digital currency used to operate the Chainlink network. LINK is used to pay for Oracle Services, which are services that provide data to smart contracts.

Practical applications of Chainlink

  • Decentralized Finance (DeFi): Chainlink is used to provide market data to smart contracts in DeFi applications such as decentralized trading platforms and lending protocols.

  • Decentralized Insurance (DeFi): Chainlink is used to provide data on external risks and events to decentralized insurance applications.

  • Supply Chain: Chainlink is used to track the movement of goods throughout the supply chain.

  • Gaming: Chainlink is used to provide gaming data to smart contracts in decentralized gaming.

  • Healthcare: Chainlink is used to provide healthcare data to smart contracts for applications such as electronic health records and medical supply chain management.

Project and currency growth opportunities in the future

  • Growth in the DeFi Space: The DeFi space is expected to grow significantly in the coming years, leading to increased demand for Chainlink Oracle services.

  • Business Adoption: Businesses are showing increasing interest in blockchain technology, which could lead to Chainlink being adopted by more businesses.

  • Development of new technologies: Chainlink continues to develop new technologies, such as Chainlink Keepers, which can open up new possibilities for smart contract applications.

Parts table LINK Source: tardingview
Parts table LINK Source: late view

Generally speaking, the Chainlink project is a project with high potential, and it can become LINK Coin An investment with high returns in the future. However, it is important to do your own research before investing in any cryptocurrency.

Of confidence


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