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While Bitcoin and Ethereum remain the most popular cryptocurrencies – for retail and institutional investors alike – there are many crypto projects that have more upside potential in 2023.

In this article, we rank some of the best crypto projects that are set to boom this year and/or during the next bull run.

Additionally, we have provided an overview of each project and explain why it has a lot of potential, while also outlining how you can buy each project’s native token.

Solana

Solana is an innovative high-performance, permissionless blockchain that has garnered significant attention from the technology and investment communities alike. Built with the goal of scaling blockchain for global adoption, it features a novel design and a unique set of technologies that set it apart from other blockchain platforms. The backbone of Solana’s performance lies in its architectural innovation.

Unlike traditional blockchain networks, which face scalability issues due to increasing transaction volumes, Solana was built with a vision to support thousands of transactions per second without compromising security or decentralization. Its design includes a unique timestamp system, Proof of History (PoH), which enables high-speed processing while maintaining trust across the network.

Proof of History is essentially a cryptographic timestamp that enables the blockchain to track the order and time of transactions, without the need for every node to observe and agree on the state of the network.

By encoding the passage of time within the blockchain itself, PoH helps increase the speed and efficiency of consensus algorithms. In combination with Solana’s unique PoH-based consensus model, called Tower BFT, the platform achieves unparalleled performance and security.

Alongside PoH, Solana utilizes several other groundbreaking technologies that contribute to its superior performance. One such technology is Turbine, a block propagation protocol that breaks data down into smaller packets, reducing the bandwidth requirements for data transmission and making it easier for validators to process transactions.

This approach is analogous to a high-speed internet connection that allows seamless streaming of high-definition videos.

Another key technology employed by Solana is Gulf Stream, which pushes transaction caching and forwarding to the edge of the network. This enables validators to execute transactions ahead of time, reducing confirmation times, and increasing the network’s capacity for processing transactions.

Sea Level, Solana’s parallel smart contracts run-time, allows for simultaneous transaction processing on the same state block, leading to increased throughput. Moreover, Cloudbreak, Solana’s horizontally-scaled accounts database, and Pipelining, a transaction processing unit for validation optimization, contribute further to the overall performance of the Solana network.

This suite of features allows Solana to process up to 65,000 transactions per second, with sub-second finality, making it one of the fastest blockchain networks in existence. Another distinguishing aspect of Solana is its native cryptocurrency, SOL.

SOL is used for transaction fees and for staking, a process by which users can earn additional SOL by helping secure the network. SOL is also used in Solana’s on-chain governance program, where token holders can vote on various proposals to influence the future development of the platform.

Solana’s dedication to scalability and speed has not gone unnoticed, as it has attracted a variety of applications, from decentralized exchanges to stablecoins and prediction markets. It has garnered significant attention as a potential Ethereum competitor due to its scalability and low transaction costs.

Developers are increasingly attracted to Solana because of its ability to handle sophisticated and high-volume applications with ease, enabling them to create more intricate and scalable DApps. Moreover, Solana’s ecosystem has grown rapidly, with numerous developers, projects, and institutions getting involved. This growth has been facilitated by the Solana Foundation’s grants program, which offers financial support to projects that contribute to the Solana ecosystem.

It is also worth noting that Solana has been backed by top-tier investors, including Multicoin Capital, Foundation Capital, and Andreessen Horowitz, underscoring the significant potential seen in the platform. In summary, Solana is an advanced and innovative blockchain platform, offering unmatched speed and scalability.

Its design and technology suite make it ideal for a wide range of applications, particularly those requiring high transaction throughput and low fees. With a rapidly expanding ecosystem and an impressive track record, Solana presents a compelling case for the future of blockchain technology.

Chainlink

Chainlink is a decentralized oracle network that enables smart contracts on the blockchain to securely interact with real-world data and external APIs.

Developed in 2014, Chainlink is a robust blockchain technology that has emerged as a crucial player in the decentralized finance (DeFi) ecosystem and the wider blockchain space, by solving the problem known as the “oracle problem.”

The oracle problem arises due to the inherent nature of blockchain networks: they are closed systems that can’t natively access off-chain data. Therefore, for blockchain applications to interact with the world outside the blockchain, they require external data sources known as oracles.

However, if a decentralized application relies on a centralized oracle, the entire system risks becoming centralized, which defeats the purpose of blockchain technology. Chainlink solves this problem by providing a network of decentralized oracles that feeds reliable and tamper-proof data to the blockchain.

Chainlink’s decentralized network consists of multiple independent oracles that fetch and validate data before it gets added to the blockchain. The network relies on a reputation system to incentivize honesty and accuracy among its nodes (oracles). Nodes with high accuracy are rewarded with LINK tokens, Chainlink’s native cryptocurrency, while those providing inaccurate information are penalized.

The innovative design of Chainlink extends beyond its decentralized oracle network. The protocol uses something called service level agreements (SLAs) to match smart contracts with the appropriate oracles. The SLA defines the terms for the oracle service such as the type of data, the number of oracles required, the speed of data delivery, and the penalties for non-compliance.

This system of SLAs and the reputation system provide a robust mechanism to ensure that the data fed into the smart contracts is accurate and reliable, thereby mitigating the risks associated with incorrect or tampered data.

Furthermore, through Chainlink, smart contracts can be fed with a multitude of data inputs, including but not limited to market prices, temperature, weather conditions, and other IoT data, vastly expanding the potential use-cases for smart contracts.

Chainlink’s native cryptocurrency, LINK, plays a crucial role in the network. It’s used as the payment currency for data requesters who want to access data services. LINK tokens are also used for incentivizing nodes to maintain data accuracy and to participate in the network.

Nodes are required to stake LINK tokens as collateral, and any deviation from accurate reporting can lead to their stake being slashed. This model creates an economic incentive for the nodes to act in the best interest of the network.

Beyond its core function as a decentralized oracle service, Chainlink has shown remarkable versatility by enabling functionalities like Decentralized Finance (DeFi) applications, gaming, insurance, and more. For instance, in DeFi, Chainlink’s Price Feed services allow for reliable, tamper-proof, high-quality price data to be utilized by decentralized exchanges, lending platforms, and other DeFi applications.

Also, Chainlink’s Verifiable Random Function (VRF) provides a secure and provably fair source of randomness that’s invaluable for blockchain gaming, gambling, and other applications requiring random number generation.

By ensuring the source of randomness is verifiable on-chain, Chainlink brings transparency and trustworthiness to the process, a previously complex task for blockchain developers.

Chainlink has also fostered a strong, vibrant community of developers, enthusiasts, and partners. A variety of projects across multiple sectors, from DeFi to insurance and enterprise, have integrated Chainlink, creating a thriving ecosystem. Notable partnerships include Google Cloud, SWIFT, and many other blockchain-based projects.

By solving the oracle problem in a decentralized, secure, and scalable way, Chainlink has made a significant impact on the blockchain ecosystem.

As the bridge between on-chain and off-chain worlds, it extends the capabilities of smart contracts, making them more functional and closer to realizing their full potential. As blockchain technology matures and finds more real-world applications, the demand for reliable oracle services like Chainlink will only continue to grow.

With its robust and secure solution to the oracle problem, it’s paving the way for a new generation of advanced decentralized applications, ensuring they can interact with real-world data in a reliable and trustworthy manner.

Monero

Monero, denoted by its ticker symbol XMR, is a leading cryptocurrency renowned for its exceptional commitment to privacy and security. Unlike many cryptocurrencies that offer some degree of privacy, Monero was specifically designed to make tracking transactions as difficult as possible for outside observers. Its development and acceptance are underpinned by a community that holds privacy and decentralization in the highest regard.

Monero, introduced in 2014, is based on the CryptoNote protocol, a technology that introduces significant privacy improvements over the Bitcoin protocol. In contrast to Bitcoin’s transparent blockchain, where addresses and transactions can be traced directly, Monero uses a range of mechanisms to obfuscate information and ensure transactional privacy.

One such mechanism is ring signatures, a type of digital signature where a group of potential signers are fused together to produce a distinctive signature that authorizes a transaction. This method makes it virtually impossible to determine which member’s keys were used for the signature and, hence, who initiated the transaction.

Monero also uses stealth addresses, which are one-time addresses created for each transaction on behalf of the recipient.

This makes it impossible to link transactions to the recipient’s actual address, adding another layer of privacy. Additionally, Monero employs Ring Confidential Transactions (RingCT), which hide the transaction amount from everyone except the sender and receiver.

With these features, Monero provides an unmatched level of privacy. Each transaction is secure, untraceable, and unlinkable. This makes it a preferred choice for individuals who place a high value on privacy.

Monero’s block reward does not have a hard cap, unlike many other cryptocurrencies. Instead, once the total number of Monero coins reaches 18.4 million (expected in May 2022), the system will switch to a ‘tail emission,’ releasing 0.6 XMR per block indefinitely. This approach ensures continued incentivization for miners, aiding the security of the network in the long run.

Monero also addresses the issue of fair mining. Many cryptocurrencies face centralization concerns due to the advent of Application-Specific Integrated Circuits (ASICs), which can lead to a concentration of mining power. Monero mitigates this problem by employing an ASIC-resistant proof-of-work algorithm called RandomX. This algorithm is designed to be efficient on consumer-grade hardware, making mining more democratic and preserving the decentralized nature of the network.

Monero’s native token, XMR, serves multiple purposes within the network. It is used as a medium of exchange, a store of value, and also as the reward for miners who validate transactions and secure the network. The focus on privacy and security has led to Monero being adopted for a range of applications where these attributes are particularly valued.

However, it’s worth noting that the emphasis on privacy has not been without controversy. Monero has been used in illicit activities due to its untraceability, leading to debates about its regulation. It’s a challenge faced by the entire privacy coin sector, and many believe that a balance must be struck between maintaining privacy and preventing illegal use.

Despite these challenges, the development and adoption of Monero have been robust. A vibrant community of developers, users, and advocates who believe in the need for private, non-censorable transactions has been actively supporting the project. The Monero community also emphasizes grassroots development and contribution, with numerous initiatives like the Community Crowdfunding System, which helps fund new projects and developments.

In conclusion, Monero stands as a powerful testament to the potential for privacy in the blockchain space. By combining innovative technology like ring signatures, stealth addresses, and RingCT, it provides a level of privacy that few other cryptocurrencies can match.

Summary

• Chainlink, Solana, and Monero are some of the best crypto projects to invest in this year.
• As the Chainlink network and community continue to grow, the potential applications for this technology are almost limitless.
• With a rapidly expanding ecosystem and an impressive track record, Solana presents a compelling case for the future of blockchain technology.
• The strength of the Monero network is not just in its technology, but also in its community, which remains committed to the principles of privacy, decentralization, and open development.
• As the discourse around privacy and digital security becomes increasingly vital in our digital age, Monero’s relevance seems set to grow.

Argentinian police have made a grisly discovery in the case of a missing cryptocurrency millionaire and Instagram influencer, Fernando Pérez Algaba.

The crypto trader was reported missing on July 18 after failing to return the keys to a rented apartment and not responding to phone calls.

Tragically, his remains were found dismembered in a suitcase less than a week later, on July 23, by children in Ingeniero Budge, a province near Buenos Aires.

Authorities found amputated legs and forearms in the suitcase and later discovered a torso on July 24 after draining the nearby stream.

On July 25, they found his head in a backpack. Fingerprints and tattoos confirmed the identity of the victim, and an autopsy indicated that Algaba had been shot three times before being dismembered.

Investigators believe that the murder may have been carried out by a professional group, and they suspect the motive could be debt-related.

Already, one suspect has been arrested in connection to the case.

READ MORE: KuCoin Denies Layoff Rumors Amidst Crypto Industry Stabilization

Fernando Pérez Algaba was well-known in the crypto trading community in Buenos Aires, where he ran an office with 25 other traders.

Additionally, he had gained considerable fame on Instagram, boasting over 917,000 followers. His posts typically featured luxury cars and his beloved dog.

Reports suggest that Algaba had significant debts, including 900,000 Argentine pesos ($3,300) in bounced checks, 1.2 million Argentine pesos ($4,400) owed to banks, and another debt of $70,000 related to a bounced check.

This tragedy occurred amidst a series of mysterious and sudden deaths of other crypto billionaires between October and December 2022.

Individuals such as MakerDAO co-founder Nikolai Mushegian, crypto broker Javier Biosca, Amber Group co-founder Tiantian Kullander,

Russian crypto billionaire Vyacheslav Taran, and major Bithumb shareholder Park Mo all suffered untimely demises during this period, sparking wild theories within the crypto community.

As the investigation into Algaba’s death continues, his friends, family, and followers mourn the loss of a prominent figure in the crypto and social media world.

The incident serves as a grim reminder of the potential dangers and risks that can accompany wealth and fame in the digital age.

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