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In April 2024, the most valuable and well-known cryptocurrency, bitcoin, is predicted to experience its fourth halving, with miners earning 3.125 bitcoins per block instead of 6.25 bitcoins. The demand and price of Bitcoin could rise as a result of this event, which will decrease the number of new Bitcoins available. Before the halving, investors should consider other cryptocurrencies in addition to Bitcoin. These are five additional cryptocurrencies with solid foundations, cutting-edge features, and significant growth potential in the upcoming years.
As the top platform for decentralized apps, smart contracts, and non-fungible tokens, Ethereum is the second-biggest cryptocurrency by market capitalization. Ethereum 2.0 is a major upgrade that will change the network's proof-of-stake mechanism from proof-of-work to proof-of-stake, increasing the network's energy efficiency, scalability, and security.
The native coin of Binance, the biggest cryptocurrency exchange globally based on trade volume, is called Binance Coin. On the Binance platform, BNB can be used to cover trading costs, gain access to a variety of services and goods, and take part in token sales through the Binance Launchpad.
The innovative blockchain platform Avalanche seeks to give the upcoming wave of digital assets and apps a decentralized, secure, and scalable foundation. Avalanche employs a novel consensus technique that supports many virtual computers and custom blockchains in addition to enabling high throughput, low latency, and low fees.
Another large-scale blockchain project, Polkadot aims to build a heterogeneous multi-chain network that can link and combine various applications and blockchains. A primary relay chain that offers security and governance makes up Polkadot, along with other parallel chains, also known as parachains, that each have their logic and functionality.
Zcash is a cryptocurrency that prioritizes privacy and uses zero-knowledge proofs, a cryptographic method that enables users to confirm transactions without disclosing any private information. Depending on their needs and preferences, Zcash users can select between shielded and transparent transactions. In November 2024, Zcash will also have its halving event, lowering the block reward from 3.125 to 1.5625 ZEC every block.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
