Bitcoin was the first cryptocurrency created and retains first-mover advantage. It is widely used for payments and acts as a quasi-core currency in the cryptocurrency industry.
Its popularity is indisputable, as is its demand. On the other hand, Ethereum is the first platform for creating DApps. It has initiated a major solution that has lowered the barrier of entry for blockchain products. In this area, it also has a first-mover advantage with a well-established demand base.
In addition to these two major cryptocurrencies, other altcoins have carved out a niche in the sector. Most of them continue to grow and their adoption is expected to increase in the future.
The solutions they offer, in their own way, fill relevant gaps, suggesting that adoption is inevitable: Cardano (ADA) and Polkadot (DOT).
Cardano (ADA)
The Cardano ADA blockchain is one of the digital assets that is considered likely to experience significant growth in the future. Although the plunge in the price of ADA during the last bear market was significant, there is huge upside and growth potential in the coming months.
Cardano became popular when it was launched as a platform for creating DApps. At the time, it rivaled Ethereum and attracted a multitude of projects thanks to its better scalability and lower transaction fees.
Most of these projects have remained on the platform, despite the recent change of Ethereum’s consensus mechanism from PoW to PoS. Cardano’s continued popularity among developers should keep demand for ADA high.
Read also. Polkadot (DOT): 5 key points you should know before considering investing in DOT.
Polkadot (DOT)
Polkadot arrived on the blockchain scene as a disruptive solution and the first of its kind. In addition to functioning like DApps creation platforms such as Ethereum and Cardano, Polkadot enabled the interaction of different blockchains. The Polkadot solution became the first to enable the transfer of digital assets between different blockchains.
Continuous updates to Polkadot continue to be made, opening up more opportunities for adoption. Communication and asset transfer between Polkadot parachains is one of the latest updates to the platform.
As new updates are made, solutions are provided for developers who will continue to adopt the project. This translates to an increase in demand for the blockchain’s native token, DOT, and the resulting increase in price in the long run.
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