3 Hot Cryptocurrencies To Look Out For
Hot cryptocurrencies to watch out for

3 Hot Cryptocurrencies To Look Out For


Forewarning - I am not a finance guy nor should you take financial advice from me. This post is not meant to be financial advice either. Before putting your hard earned money into any of these coins, please do your own due diligence. I will not be responsible for your profits and losses. Also I have added referral links to various crypto applications which I personally use in this article. Do check them out if you would like to support me.

HOT! HOT! HOT!

Well, this is my personal list. I went on my usual online crypto frenzy and I made a list of coins which I saw potential after a small research.

Ethereum

And I want to share them with you so that you may include them in your watch list. Do note - I could be totally wrong as well. I would like to re iterate that you should do your own research before buying any of them.

1. ARWEAVE (AR)

"Store data, permanently." - this is Arweave's slogan. In their own words -

"Arweave is a new type of storage that backs data with sustainable and perpetual endowments, allowing users and developers to truly store data forever – for the very first time."

ArWeave


Basically, it's a torrent like system where files are stored across various nodes around the world securely. Okay but what makes it 'HOT'? Well, get this - SOLANA has decided to partner with ArWeave to store their ever increasing data. This matters because Solana by design generates a huge amount of data compared to all the top blockchain networks combined. They were looking for a secure way to store their archive data and ArWeave just solved that problem for them. Now, is this the only reason for it to be a good consideration? Nope! If the partnership with Solana proves successful, then other blockchain networks will follow them. The Arweave network neither operates nor is owned by any single company or entity. Rather, it is a fully decentralized network with no single-point-of-failure. Meaning just about anyone can provide storage space to the network or use it to store their data FOREVER. 
AR is ArWeave's cryptocurrency and it is being traded at around $30 at the time of writing this article.

2. CHAINLINK (LINK)

Oracles, which are used to verify and communicate real-world data like coin prices to blockchain networks, are the backbone of any DeFi application. A single centralized oracle is not a good option because it would create a single point of failure.

chainlink

Chainlink is a decentralized oracle network, which allows smart contracts to connect securely to external data sources, payment systems, and APIs. Moreover, its native LINK token is the digital asset used to pay for the services from the Chainlink network. They also offer other similar services like weather data, sports data, etc. Aave and Celsius, where the former is a DeFi platform and the latter is a CeFi platform, uses Chainlink's services in their applications. Chainlink slowly is emerging as a 'unicorn' because more & more blockchain based platforms are being deployed into the world and they all need reliable oracle services to function properly. Also to add, as per the latest news, Chainlink is building a billion-dollar crypto bridge which enables cross platform interoperability for various blockchain networks. All these facts makes me bullish on Chainlink. LINK is currently trading at around $28 at the time of writing this article.

3. KUSAMA (KSM)

I saved the best of the last. A brain child of the same team behind the Polka Dot network, Kusama is Polka Dot's canary network, a.k.a. test network. Now why would anyone get excited for a test network of a blockchain?

polka dot

Well this has to do with how fundamentally different Polka Dot and Ethereum is. In Ethereum, there is just one main network & just about anyone can deploy their apps and use it. It gets a little trickier when it comes to Polka Dot. Polka and Kusama has two chains = a main Relay Chain which is the main network where transactions are finalized, and several Parachains (100 at the time of writing this article) which are custom blockchains tied to the relay chain which uses its computing resources to confirm a transaction's validity. Parachains are similar to plasma chains (Eg: Polygon) in Ethereum. In order to deploy on the test chain, one needs to win a slot in the network in a fair auction called parachain slot auctions. Whomever wants to get their application deployed on Kusama needs to find supporters who can pledge a certain amount of KSM for the project for a certain period of time. The project may offer some of their own tokens in return as an air drop. This brings in a lot of value and future potential for KSM which is being traded at around $300 at the time of writing this article.

Conclusion

These are the coins that I like a lot and are on my watch list. I am slowly accumulating them by dollar cost averaging every month.

KUSAMA

I see a good return on investment (again, do your own research before buying them if you are) in the long term, say like 10 or 20 years. AR, LINK and KSM are coins with solid fundamentals and has got several use cases in the real world.

If you are planning to buy or trade crypto, I recommend giving the KuCoin exchange a try. They got some great offers for various coins in terms of lending and staking. Celsius is a good option if you want to safely earn returns on your crypto assets. Do check these out if you haven't already.

Couple of other articles which you might be interested in:

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Mishal Alexander
Mishal Alexander

Crypto Enthusiast | Budding Blockchain Developer |


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