Cryptocurrencies That Are Expected To Explode This Year – Decentraland (MANA), Monero (XMR) and CashFi (CFI)
Life as an investor means constantly being on the lookout for that next big coin. It isn’t always a simple task, and it’s easy to overlook some gems due to several factors. The crypto market is a vastly competitive space, with crypto tokens constantly swapping places, falling and then rising again. Such is the way things are.
Despite all this, the crypto markets still retain some regulars. These are the biggest and most popular coins with the highest market value, such as Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC), but this article is not about them. This article seeks to shed more light on smaller, lesser-known cryptos which have tremendous growth potential and are on the verge of exploding in 2022. Among these are Decentraland (MANA), Monero (XMR) and CashFi (CFI). These three coins are ones to watch out for in 2022, and here’s everything you need to know about them.
The concept of virtual reality and everything in between is only now getting mainstream attention. A deciding factor in this is Facebook’s announcement that it would be rebranding as Meta and Mark Zuckerberg’s plan to build a metaverse. Since that announcement, virtual reality, the metaverse, and related entities have become topics of interest for the general public.
However, virtual reality or virtual worlds have been around for a long time. Games such as SimCity and Minecraft have been giving users a taste of virtual reality for years, allowing them to construct buildings and cities and even invade and colonise entire worlds.
These games were simply a means for users to pass the time, a leisure activity. Creations within these games have no inherent value, but what happens if there was a way to ascribe an actual monetary value to creations on games such as these and even sell these creations to the highest bidder? With the blockchain, anything is possible, and the answer to that question is Decentraland (MANA).
Decentraland (MANA) is a decentralised virtual reality platform that runs on the Ethereum (ETH) blockchain network. The platform gives users the ability to create, experience and monetize their creations.
“With Decentraland, we’re creating an ecosystem that combines many of the solutions being implemented on cryptocurrencies with the impending mass adoption of VR systems. The result is a metaverse, a social 3D world with a native economic network,” said Esteban Ordano, founder of Decentraland (MANA)
The platform’s native crypto, MANA, is currently a top 40 crypto by market cap.
A particular feature of cryptocurrencies that is frequently discussed is anonymity, but how often are these procedures anonymous? Transactions made on Bitcoin (BTC), and Ethereum (ETH) are all public and traceable, which means someone can eavesdrop on transactions flowing in and out of a wallet.
This possibility led to the rise of privacy coins, a brand new denomination of crypto. Privacy coins use a specific type of cryptography to hide crypto transactions, and Monero (XMR) is the biggest and most popular of them all.
Monero (XMR), like all other privacy coins, is a cryptocurrency that uses privacy as a major selling point. Wallet addresses and transactions are deliberately hidden using cryptography to allow people to use the currency secretly.
Monero (XMR) is slightly different from other cryptos, such as Bitcoin (BTC). It is unique in the following ways: total privacy, scalability, fungibility, multiple keys and ASIC resistance.
Monero (XMR) can be bought and sold on crypto exchanges like every other crypto token. Due to its private nature, the token has become a popular funding method on the dark web, where it is used to pay for illegal goods and services. Monero (XMR) is currently a top 30 cryptocurrency by market cap.
CashFi (CFI) is a next-generation De-Fi platform that adopts a qualitative methodology for off-chain cooperation while also allowing for on-chain interoperability using an ecosystem of multi-chain web 3.0 products designed to stimulate global liquidity and enable seamless value exchange.
The platform boasts exciting and innovative features such as an NFT marketplace, Liquid Staking Solutions, access to various asset classes, and so much more. It would be in the best interest of investors to keep an eye out for CashFi (CFI) in the coming months.