Cryptocurrency has been making the world go crazy. The first crypto to witness a global launch is Bitcoin. This soon became a sensation given the technology revolved around it. Learn more here for the top alternative ways of bitcoin growth.
Cryptocurrencies work on the blockchain platform. It means every user transaction breaks down into single units of transaction. Each of these transactions is then stored on user computers. Given the unique working model, it becomes impossible to trace back user transactions. Also, once the data validation completes there is a unique reference number assigned. This reference number does have any linkage to the user’s credentials.
Other than the blockchain, cryptos also make use of a decentralized finance model which means every user can undertake the peer-to-peer transaction. There is no involvement of any bank or central authorities during any transaction. The working model makes it easier to undertake transactions without a currency barrier. Cryptos are not tied to any fiat currency.
What is Solana?
With the growth of crypto investments, there is also an increase in the number of crypto in the market.
Solana is one such alternate coin. Launched in March 2020, Solana has given its investors more than 11k% returns. Ethereum killer is another name for Solana. And yes, Solana is doing a good job on this. Solana is completely backed by the top brass layer of the investment community. Its platform is friendly and provides low transaction fees and other scalability options. Solana platform also provides its developers with reward points using SOL tokens. The project gives transaction speed better than any other project in the market.
What are the alternatives to Solana?
While Solana is a good investment, there are a few other coins that are better alternatives to Solana.
Axie Infinity (AXS)
If you are an ardent game player, then Axie is for you. Investors can play and earn using this coin. It has captured the attention of investors, particularly during the pandemic period. People can use unique Axes cartoon features to play and fight on the platform. Every player gets to earn AXS and SLP tokens using the game. These tokens in turn have real-world value for trading.
Before AXS entered the real world, it was not possible to trade using tokens won in games. AXS became a relief to many who were looking to transfer their rewards outside the gaming domain. It also enabled people who were struggling with monetary issues to overcome the same.
AXS also gave its users more than a 21k% increase in their returns. Since January 1, the token is under a high-performing cryptocurrency.
Another high-performing crypto token is next to Solana. SAND is a metaverse token and has gained much attention in recent times. The coin has performed more than 12K%. Investors can create their virtual currency using SAND. Tokens in turn may be useful to buy virtual land and NFTs. Tools within the SAND platform help investors to create their gaming strategies.
It is also known as the mother of all available blockchains in the industry. The token allows the creation of a hub of blockchain. It works towards creating an ecosystem where more than 01 blockchains can communicate. The developers are also working on a system that interconnects. Each of these systems will work on a decentralized chain of networks. Developers of ATOM agreed that they are aiming to create this platform soon. It will provide low transaction charges and undertake easy transactions. As promised, the performance and scalability will also be high. As compared to Solana and Ethereum, ATOM is now gaining user attention globally.
Higher returns and higher risks on investments
All the above cryptocurrencies including Solana are now listed on popular exchanges. It is also open to higher market risks. All these cryptos have provided their users with higher returns. Despite the growing returns, it is important to note that these tokens also have higher risks. The coins listed above have higher price volatility. It is prone to market fluctuations as well. While the prices today are on a higher scale there it is better to consider the above coins for investment. Solana has already taken the top 10 positions in the crypto market.