Not everything in the crypto world is Bitcoin or Ethereum. With this in mind, from Bitpanda they highlighted the role of three altcoins in particular: Chainlink, Cosmos and Cardano. Alejandro Zala, Bitpanda’s country manager in Spain, shared his vision on the world of altcoins, with Cointelegraph en Español.
For Zala, bitcoin has always been the protagonist in the media: “It is difficult not to find any news related to this asset on social networks or in the main media. Similarly, we have Ethereum following in the wake with impressive growth. ”
The executive commented: “For newbies and experts alike, ethereum and bitcoin appear to be the dynamic duo of cryptocurrencies. But cryptocurrencies have enormous potential. Some altcoins are even undervalued given the little attention received by investors, who continue to focus solely on these currencies. ”
Then he recalled: “Ethereum, born in 2015, was initially seen as an altcoin in the shadow of bitcoin, unable to come close to this asset. It is not necessary to remember its successful trajectory and how its currency has become a reference cryptocurrency ”.
For this reason, For Zala, you have to pay attention not only to the big players, but also to other altcoins that are building ecosystems that – in his opinion – add great value to the community.
The three C’s
For Alejandro Zala, there are three cryptocurrencies that should be watched carefully: Chainlink, Cosmos and Cardano
“Chainlink is an asset to consider. Its core business is in smart contracts, which are executed through a computer code and not through human participation ”, he commented.
“Together with Oracle software, which determines the correct result for a specific entry, the coin has seen steady growth and is considered one of the most promising projects in the industry. This altcoin has seen unprecedented use, and has proven useful outside of the industry, “he later stated.
On the other hand, recalled that experts also often highlight the UniSwap token, introduced in September 2020, and said that it has become one of the most successful DeFi projects in the world, together with Cosmos. “The latter is a project that addresses the issue of scalability in blockchains. For each transaction there is new data overlaid in order to maintain a public record of the bitcoin. Since no data can be erased to maintain the accuracy of the chain’s specific history, the chain grows and grows, creating a series of problems. Cosmos was born as a response to this lack of system efficiency ”, Zala explained.
By last, He talked about Cardano, which addresses interoperability, simply put, chain-to-chain communication. “This altcoin has also seen growth and is a popular asset in private and institutional portfolios,” he stated.
For Zala, the altcoin sector is huge, with “infinite potential and possibilities.”
“Blockchain technology continues to evolve and interesting projects are emerging to find not only solutions related to cryptocurrencies, but also applied to real life,” he remarked.
According to Bitpanda’s country manager in Spain, altcoins provide diversification and the possibility to really go deep into the investment aspect. And he clarified that a lower price does not indicate that they do not have potential. In addition, he explained that there are altcoins that are born with the mission of solving complex problems and finding innovative solutions.
“For this reason alone it is worth knowing more about them,” he concluded.
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From Bitpanda they highlight the role of altcoins such as Chainlink, Cosmos and Cardano