Just when the crypto market seemed to hit a rough patch, Bitcoin swooped in to save it with a bull rally. The strong uptick in Bitcoin price has also influenced the movement of a few other altcoins.
Seven altcoins which have benefited due to the recent rise in Bitcoin price are InQubeta (QUBE), Arbitrum (ARB), Polygon (MATIC), Avalanche (AVAX), Sei (SEI), Aptos (APT), and Chainlink (LINK).
These cryptocurrencies represent the potential of decentralized finance (DeFi) in wealth creation. These seven tokens have broken crypto records while making rapid strides in the blockchain industry to create a global impact.
1. InQubeta: Powering a startup revolution with DeFi
InQuebta is a platform that serves AI startups looking for funding. It helps them garner the resources required to build the future of AI through crowdfunding via crypto. While helping startups, InQubeta helps crypto users cash in on promising opportunities and become startup investors.
It can fuel financial inclusion for both sides with its simple and secure mechanism. Its native cryptocurrency is the QUBE token, and it’s used for settling all kinds of transactions on the network.
InQubeta has received a lot of attention from even retail buyers, and crypto users are rushing to get their hands on the QUBE token. Its cryptocurrency ICO hit the headlines recently after its presale funding crossed $6 million
The platform has a staking feature where QUBE tokens can be staked for as long as their owners want, and in exchange, they will get crypto rewards. These rewards will vary with how long a token is staked. For these rewards, the InQubeta team has set up a separate reward pool that is bankrolled by tax proceeds.
QUBE is built with a utility-centric focus, which is reflected in the way its deflationary model works. The deflationary model prevents the token returns from plunging when inflation is high. The model works on maintaining a scarce supply, which keeps the asset value stable and price fluctuations minimal. If the supply is disturbed, additional tokens are burned, so their availability stays scarce. The anti-inflationary character puts it ahead of several top crypto coins.
Important decisions on InQubeta are taken by all the stakeholders together. Community members coming up with a proposal for a change in protocol are encouraged, and their suggestions are assessed to gauge their impact.
The suggestions are also put to a vote to find out what community members think about the proposed changes. Token holders have special voting rights which allow them to vote for the proposal and express their views about it.
The InQubeta team has designed a transparent model where startups and investors can connect. The best part about InQubeta’s onboarding process is that there are no rigorous formalities to be completed. The only condition that startups have to fulfill is to create a rewards-based offer for their investors.
These offers represent the AI project that is to be funded and how the opportunity can benefit the investor. The offers are minted as NFTs and made available on an online portal where investors can buy them. As these NFTs can be fractionalised, investors have the option of investing in a part of the startup project.
2. Arbitrum Orbit to power RARI Foundation’s new blockchain
Arbitrum has been designed as a Layer 1 technology that allows developers to build Ethereum-based solutions with more efficiency and scalability. Its native token is ARB. Arbitrum stands out from other Ethereum-scaling networks as it uses optimistic rollups.
The difference in approach makes Arbitrum a better option for building flexible and secure dApps. Optimistic rollups enrich Arbitrum’s capacity to handle thousands of transactions in seconds at affordable rates.
They offer developers the leeway to run programs in multiple computing languages. The network also doesn’t compromise with decentralization and has a network of validators for confirming transactions. These validators stake their ARB tokens and earn rewards for their services.
Marking a new milestone for Arbitrum, the RARI Foundation stated that it would be leveraging Arbitrum Orbit technology to develop a Layer 3 blockchain. Named the RARI Chain, the blockchain was recently launched on testnet. RARI is a decentralized platform offering NFT infrastructure.
3. Polygon: Amping up Ethereum’s efficiency with Zk tech
Polygon is a user-friendly platform featuring tools powered by zero-knowledge technology for scaling Ethereum-based dApps. Developers can also find a range of tools for deploying dApps, blockchains, and other decentralized infrastructure.
The platform’s native token is known as MATIC. Polygon’s top offerings include Polygon PoS, which is used for creating public blockchains. The tool can offer an uninterrupted user experience with high-speed transactions and negligible gas fees.
The Polygon ecosystem also offers a tool for creating app-specific blockchains – Polygon CDK. Using this tool, developers can create Layer 2 blockchains with leading zK technology. For creating decentralized identities, developers can use the Polygon ID.
The tool paves the way for secure relationships between dApps and their users. Polygon ID uses principles like privacy by default and self-sovereign identity. Called one of the best altcoins of the year, Polygon is a carbon-neutral and climate-positive platform. The team is also using its solutions to proactively contribute to the fight against climate change.
4. Avalanche: Creating new age dApps and customized blockchains
There might be several new altcoins in the market, but Avalanche has held on to its top position in the DeFi market. The blockchain serves as a repository of tools that can be used to create scalable dApps and customized blockchains. Its native token is AVAX.
To gain a high throughput while avoiding high gas fees, the platform is powered by three blockchains and each of them has a distinct purpose. In the Exchange Chain, users mint and swap AVAX tokens. The blockchain utilizes the Avalanche consensus protocol. The other is the Contract chain, where all smart contracts and dApps are hosted. The Contract Chain runs on the Snowman consensus protocol. The third blockchain is the Platform chain for coordinating between network nodes and tracking subnets.
5. Sei: Building dApps for the masses
Sei is a Layer 1 blockchain that has been regularly featured in the list of 2023’s best altcoins. The blockchain has been designed to deploy high-performance dApps that can be scaled easily. Its tools also enable the mass adoption of digital assets with a user-friendly framework.
Its native token, SEI, is the blockchain’s primary cryptocurrency. Another reason why developers gravitate towards Sei is speed. Powered by the Twin-Turbo Consensus, Sei charges nominal transaction costs and an unmatched throughput.
Sei’s focus on security makes it a great option for those looking for developer-friendly cryptocurrencies. Sei also has a combination of optimizations that pave the way for new-age applications.
Sei Labs recently stated that it would be integrating support for Ethereum Virtual Machines (EVMs) in its forthcoming updated V2. The support for EVMs will help developers port Ethereum-based smart contracts to the Sei network and then use them.
6. Aptos Foundation, Dragonfly to host a networking event in Hong Kong
Aptos is a Layer 1 blockchain where developers can create Web 3.0 solutions to offer users an unparalleled journey. These solutions comprise dApps that have the potential to solve actual problems. The blockchain uses a smart contract programming language called Rust, which supports its operations.
Its native token is APT. The platform is a top crypto to invest in as it can offer a higher throughput than many blockchain networks. The high throughput is due to the parallel execution of transactions and allows APT to perform quick transactions.
Under parallel execution, transactions are processed in a sequence, and delayed or failed transactions don’t affect the network speed. The transactions are authenticated via the proof-of-stake consensus algorithm.
Aptos recently announced that it would be partnering with crypto venture fund Dragonfly to host a networking event for blockchain leaders and innovators in Hong Kong on December 7. By attending the event, participants can look forward to ideating and exchanging insights on the latest innovations in the blockchain industry.
7. Chainlink unveils the latest upgrade of staking platform
Chainlink is a decentralized computing platform that offers services powered by oracles networks. Its native token is LINK, and it’s used for all payments on the Chainlink network.
The platform has global appeal as it can connect any system to another private or public blockchain. Developers can find a wide array of resources on the network to deploy new tools. These resources include in-depth tutorials, workshops, and documentation. For authenticating all transactions, the platform uses the proof-of-reserve consensus protocol. It’s preferred by many developers as it has unparalleled security and compatibility.
What makes it a good crypto to buy is that it allows secure connections to Web 3.0 in minutes. Chainlink’s Functions BETA is a serverless platform for developers that they can use to fetch data from an API. Developers can then run a custom dApp to ensure that the data can be used for smart contracts.
Chainlink achieved a new milestone in its growth journey after it recently announced an upgrade of its staking platform. The v0.2 upgrade is expected to usher in benefits like better security guarantees, a dynamic rewards system, greater flexibility for stakers, and a modular architecture.
The upgrade recently went live with a priority migration period where v0.1 stakers are allowed to migrate their LINK tokens and rewards to the upgraded network.
Conclusion
At a time when diversification can be a game-changer for crypto gains, it’s prudent to have the right mix of assets in a portfolio. These seven names are cutting-edge cryptocurrencies that can give your portfolio an edge so that you don’t have to worry about which crypto to buy today for the long term. Each of these tokens has its own USPs.
While Arbitrum, Polygon, Avalanche, and Sei are developer-centric projects, InQubeta is a budget-friendly option for crypto users who believe in the power of AI. It also happens to be one of the top ICOs of the year.
Before going ahead to buy a cryptocurrency, crypto users should research a token well. By consulting an expert or reading up about a cryptocurrency before purchasing it, buyers can spot potential risks linked with a token. The strategy helps them make well-informed decisions in the long term.