Bitcoin is the first cryptocurrency created and retains the “first come” advantage. It is widely used for payments and acts as a base quasi-currency in the crypto industry.
—MemeingBitcoin (@MemeingBitcoin) October 28, 2022
Its popularity is indisputable, as is its demand. On the other hand, Ethereum is the premier DApp creation platform. She initiated an important solution that lowered the barrier of entry for blockchain products. In this area, it also benefits from the advantage of a “first-mover” with a highly established demand base.
In addition to these two big cryptocurrencies, several other altcoins have established themselves in the sector. Most of them are still growing and are expected to see an increasing adoption rate in the future.
The solutions they provide, in their own way, fill relevant gaps, which suggests that the adoption of these projects is inevitable: Cardano (ADA) and Polkadot (DOT).
The Cardano blockchain ADA is one of the digital assets considered likely to see significant growth in the future. Although the crash in ADA price during the last bear market is substantial, there is huge potential for upside and growth in the coming months.
—BICEP Cardano Stakepool💪 (@BicepPool) October 29, 2022
Cardano became popular when it was launched as a platform for creating DApps. At that time, it rivaled Ethereum and attracted a multitude of projects thanks to better scalability and lower transaction fees.
Most of these projects have remained on the platform, despite Ethereum’s recent consensus mechanism change from PoW to PoS. Cardano’s continued popularity among developers is expected to keep demand for ADA high.
Read also Polkadot (DOT): 5 fundamental points that you absolutely must know before thinking about investing in DOT
Polkadot arrived on the blockchain scene as a disruptive solution and the first of its kind. In addition to functioning as DApp creation platforms like Ethereum and Cardano, Polkadot has enabled different blockchains to interact. The Polkadot solution became the first to allow the transfer of digital assets between different blockchains.
Now that nomination pools are live, you can stake natively and earn rewards with as low as 1 DOT!
Native, protocol-level nomination pools represent a major innovation in the broader blockchain industry, making staking accessible to all, even those with less tokens. pic.twitter.com/YJjZkC0qDM
— Polkadot (@Polkadot) November 1, 2022
Continuous updates are always happening on Polkadot, which opens up more possibilities for adoption. Communication and transfer of assets between Polkadot parachains is one of the latest updates to the platform.
As more updates are made, solutions are provided for developers who will continue to adopt the project. This translates to increased demand for the blockchain’s native token, DOT, and a consequent increase in the long-term price.