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3 Cryptocurrencies Offering Major Competition To Ethereum In 2022

There is no doubt that Ethereum is one of the most rewarding investments you can make in cryptocurrency, and this is because technology has revolutionized the entire industry from beginning to end. Also, it must be remembered that quite a few competitors have confronted Ethereum in the past, and these competitors have achieved quite a bit of success in their respective fields.

There are many reasons you should buy these coins in 2022, including the fact that they also make excellent investments in the long run. A wise cryptocurrency investment would be to invest in cryptocurrencies that can compete strongly with Ethereum, and this is if you are trying to make suitable investments when it comes to crypto.

Although Ethereum has taken a breather in terms of its price action lately, it is one of the best long-term projects and investments in the cryptocurrency market in the long run. According to reports, over the past seven days, three cryptocurrencies have outperformed ETH by at least 25 percent, and over the course of the last 30 days, they have outperformed it by at least 75 percent.

Let’s take a closer look at them.

1. Mina (MINA)

According to crypto market experts, the Mina protocol price has increased by a staggering 98 percent over the past 30 days compared to one week ago. This increase resulted from an extra 25.61 percent increase over the last seven days.

In recent years, the Mina blockchain has earned the title of ‘lightest blockchain in the world due to the simplicity of its design so far. This ensures that the Mina chain remains unchanged as its usage increases, resulting in quick and inexpensive settlement of transactions even as its usage increases. This system is also designed in such a way as to maintain a balance between security and decentralization at the same time.

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A proof-of-work (PoW) approach is used in Bitcoin, which is heavily computationally intensive, while a proof-of-stake (PoS) approach is used in Ethereum, where preselected coins are awarded the right to validate transactions based on their stake in the network. With a decentralized network such as Mina, the decentralized process of vetting specific parts of transactions is another way the chain participants can play a crucial role.

2. Moonbeam (GLMR)

During the past week, Moonbeam’s value has grown by 26.76 percent compared to last week, and it has grown by 76 percent compared to the last four weeks, based on data from CoinMarketCap.

A Moonbeam smart contract parachain is one of the smart contract networks developed on the Polkadot platform. The Ethereum blockchain, on the other hand, can also be used together with it because it is a separate blockchain network with different functions and construction than Ethereum. The Moonbeam blockchain platform is an innovative platform that bridges multiple blockchains, including Bitcoin. By doing so, developers are able to begin developing applications on Ethereum and get their applications in front of tens of thousands of users across multiple blockchains.

Ethereum is a platform that is very similar to that of the app store on the iPhone. As the name implies, Moonbeam is software that allows app store developers to distribute their apps easily to Android devices, Samsung mobiles, Motorola mobiles, etc., within a short period of time after they create the app. With its cross-chain capabilities, Moonbeam is one of the most valuable networks for users and developers and one of the most competitive and highly contested networks on the market.

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3. Near Protocol (NEAR)

According to analysts, figures at the time of publication, Near Protocol’s price experienced gains in the range of 40 percent and then almost 89 percent. Currently, the price of NEAR per coin is $18.65, which is a good price.

The Near Protocol is similar to Bitcoin and Ethereum in that it is a layer-one blockchain platform, and as such, it is an important part of the blockchain ecosystem. By using this network, you will be able to run your cloud computing more effectively, more efficiently, and more scalable than if you were using any other crypto network.

A lot of developers and designers of decentralized applications are taking advantage of the user-friendly environment that this decentralized layout provides in developing and designing their applications. The Near Foundation recently received $150 million in new funding to promote and make this particular blockchain.

Conclusion

This article is a collection of our personal opinions and observations and should not be construed as financial advice. Investing should always be carried out by the investor himself or herself, and the investor should only invest amounts within their ability to lose. Ethereum may, in the long run, prove to be one of the most successful projects in the crypto market, but in the short term, these three projects are well worth considering.

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