Beyond Bitcoin: 3 Tokens Changing the Crypto Landscape

Despite the dark clouds and doom surrounding the current crypto winter, the blockchain and cryptocurrency industry remains highly innovative. If anything, the ability to develop the next generation of products and services may actually be easier now that the constant media hype about creating something quickly is gone.

That’s why I really like what I’m seeing with three different tokens that are changing the cryptocurrency landscape. Uniswap (Uni -4.42%), polygon (matic -4.98%)When BitDAO (a bit -2.27%)Each of these tokens is changing the way we think about cryptocurrencies and helping lay the foundation for a stronger and more resilient crypto industry. Let’s take a closer look at each of these.

Uniswap

In the continuing impact from the cryptocurrency exchange meltdown FTX, it’s perhaps not surprising that Uniswap is making headlines. Unlike FTX, which is a centralized exchange, Uniswap is a decentralized exchange. This has some important consequences for the average investor looking to avoid the risks of holding cryptocurrencies on potentially unreliable exchanges.

The most important of these results is that funds do not need to be held on Uniswap for trading. Instead, store your funds in a digital blockchain wallet that only you can control. If you want to trade, just connect your wallet to Uniswap.

Another important result is that you have access to a much broader set of cryptos to trade on Uniswap than on a centralized exchange. makes an attractive value proposition for

Uniswap faces a lot of competition, but is still the world’s largest decentralized exchange by trading volume. We are also ahead of the curve when it comes to trading other digital assets such as non-fungible tokens (NFTs).

polygon

What many investors may not realize about Polygon is that it is built on top of a Layer 2 blockchain. ethereum (ETH -4.11%) Since it is a blockchain, there is a very symbiotic relationship between the two. Ethereum provides security and stability as a core base layer.

Polygon offers faster transaction speeds, lower costs, and a better user experience. It claims to be able to process 65,000 transactions per second at a cost of just 1 cent. This makes it extremely fast and incredibly cheap compared to Ethereum. can be used for

Image Source: Getty Images.

Building on this unbeatable value proposition, Polygon explodes onto the scene in 2022. disney, Starbucks, meta platformWhen NikeAll of them are using Polygon to work on innovative NFT projects, and we expect this trend to continue in 2023. For example, Starbucks created his NFT-based customer loyalty program that runs on Polygon.

BitDAO

BitDAO is unique in that it is a decentralized autonomous organization (DAO). Simply put, this means an organization held together by a decentralized blockchain network. All decisions and all transactions of this organization are posted to the blockchain and coordinated via smart contracts.

This leads to tremendous transparency and trust. Imagine a boss working in a corner office who needs to publish a complete list of everything he does during the day on a public ledger for everyone to see.

All DAOs can be set up to achieve different goals, but BitDAO is set up to invest in different cryptocurrencies and blockchain projects. It’s like being part of an investment club that partners with people from all over the world.

Owning a BitDAO token gives you voting rights in this process. Visit the BitDAO website to see some of the projects they have invested in, including the new Layer 2 Blockchain. The growing popularity of DAOs could change the way we think about investing in blockchain and cryptocurrencies. Instead of investing in single cryptocurrencies, the focus may shift to blockchain projects and digital assets.

Which of these is the best investment?

All three of these cryptocurrencies have interesting long-term growth prospects and rank among the top 50 cryptocurrencies by market capitalization. Uniswap and Polygon are now strong long-term buys. However, no judgment has yet been made regarding BitDAO, simply because this type of crypto token is very new.

As a result, if you already hold BitcoinPolygon and Uniswap could both be great ways to diversify your crypto portfolio in 2023.