Bitcoin is expected to be a big cryptocurrency player in the coming years, one that will surge in value and reduce volatility. However, it's not as if Bitcoin will be the only cryptocurrency.
There are plenty of other digital currencies out there that could have significant growth potential in future years and so today we explore five of those cryptos that may become a big player by 2022.
The four coins are Ripple XRP, Litecoin Ethereum ETH, Cosmos, and Monero XMR.
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Ripple (XRP)
Ripple is one of the top three cryptocurrencies by market capitalization, but many people don't realize that it's technically not a cryptocurrency. Ripple is a payment protocol that intends to revolutionize the way banks and financial institutions settle payments between each other.
The protocol allows for parties to transfer IOUs, which are eventually settled in “XRP”, a digital currency native to the protocol. The value of XRP during the past few months has been extremely volatile, as shown in the chart below. If required, you can refer to the information on this website Bit Bolt App to get a better insight into it.
Litecoin
Litecoin is often referred to as the “silver” to Bitcoin's gold. It's also one of the oldest cryptocurrencies, launched in 2011. Litecoin's big selling points are its speed and low transaction fees. Litecoin is similar to Bitcoin in more than just name, as it has a limit of 84 million coins (four times that of Bitcoin) and can be mined using consumer-grade hardware.
Litecoin can process a larger number of transactions than Bitcoin, which sees an average of 4-6 transactions per second. The chart below shows the surge in Litecoin's market capitalization over the past few months.
Ethereum
Ethereum is often referred to as a “smart contract” platform since it allows users to write extra codes on top of its blockchain network, called smart contracts, that execute when set criteria are met. Ethereum is often considered the second-largest cryptocurrency by market cap, behind bitcoin.
It's also the second-most widely used blockchain platform and as such, it has been extremely valuable in the Bitcoin Cash and XRP blockchain competitions. Ethereum has had an exceptionally bumpy ride during 2018, and it's one of the few cryptocurrencies that's now over $100, but it recently lost more than 10% of its value.
The fork that occurred recently in the Ethereum network created two versions of the currency. The value of Ethereum may plummet again, but, it is expected
Cosmos
Cosmos is one of the most promising digital assets on the market, being one of the fastest blockchains, and the one that boasts a high-performing team with high-level experience. Cosmos is not a cryptocurrency at all, but it's a smart-contract platform, which can make the process of launching a decentralized application (Dapp) or company much more efficient and cost-effective.
An upstart cryptocurrency, Cosmos, came out of nowhere to become the 8th most popular digital currency. It's worth $4.6 billion, and it has a market cap that's the second-highest among all
Monero (XMR)
Monero is often considered to be the best, safest, and most private of all the popular cryptocurrencies out there. It's one of the few digital currencies that offer true anonymity, and users can't be traced without being detected by sophisticated digital security software.
Monero is a long-term investment, and it may have difficulty reaching another all-time high shortly. But, we expect Monero (XMR) to continue to surge by the end of the year 2022.