These 3 cryptos could beat it in 2022

These 3 cryptos could beat it in 2022

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Consider these cryptos if you want to diversify beyond Ethereum.

Key points

  • Ethereum is the largest crypto smart contract, but it struggles with heavy network congestion.
  • Cosmos, Chainlink, and VeChain all have strong long-term prospects and could outperform Ethereum in 2022.

Ethereum (ETH) is the second largest cryptocurrency by market capitalization and is by far the largest crypto smart contract. Smart contracts are tiny pieces of code that live on the blockchain and enable applications to be developed. This feature means that many decentralized financial and other applications are built on the Ethereum blockchain.

In recent years, Ethereum has lost some of its first-mover advantage. Not only does Ethereum struggle with network congestion and high fees, but many newer blockchains are faster and more scalable. Ethereum is in the midst of a major update, but in the meantime several so-called “Ethereum killers” continue to take market share.

The following three cryptocurrencies are available from top cryptocurrency apps and exchanges and could beat Ethereum in 2022.

1. Cosmos (ATOM)

Cosmos calls itself “the internet of blockchains”. It is an interoperability-focused smart contract platform. Interoperability allows blockchains to communicate with each other and is fundamental to the development of the entire crypto industry. Without it, it would be like having cash in a bank account that you couldn’t transfer to an account with another bank.

The blockchain landscape is changing – rather than having 90% of applications built on Ethereum, they are now built on several different platforms. It is likely that five or six will end up winning. This makes interoperability even more important and is one of the main reasons why Cosmos could overtake Ethereum in 2022.

According to the Cosmos website, there are over 260 apps and services on its network. These include big names like Binance Chain and Terra (LUNA). It’s not as impressive as the thousands of apps on Solana (SOL), but it still marks Cosmos as a key player.

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To start

Chainlink is a behind-the-scenes cryptocurrency that often gets overlooked in the race to find the latest big thing. However, it plays a crucial role in smart contract execution and could attract long-term investors.

Smart contracts execute automatically under defined circumstances, but they need precise information to trigger them. For example, suppose a farmer sets up a smart contract insurance policy against extreme weather conditions. In theory, this policy should automatically pay out if these conditions occur. But this will only work if there is a reliable data stream with specific information about the weather in that particular farm.

This is where the Chainlink Oracle Network comes in. They can monitor the weather, track interest rates or crypto prices, track sports scores, and much more. As smart contracts continue to gain traction and projects find more and more uses, Chainlink’s oracles will be increasingly needed.

3. VeChain (VET)

VeChain is a crypto with a strong real-world use case, making it a great token to put on your watchlist. VeChain initially established itself using blockchain to solve supply chain issues. Several large companies such as BMW and LVMH use its supply chain solutions. For example, Walmart China uses VeChain to track products such as fresh fruits and meat. As a result, these foodstuffs are fully traceable – if there is an outbreak of E. coli, the source could be quickly identified.

VeChain has since expanded its mission to include a range of business-focused applications. This includes partnering with PricewaterhouseCoopers to help its customers use blockchain technology.

Don’t Ignore Ethereum

These coins all have a good chance of performing better than Ethereum in 2022, in part because Ethereum has been around since 2015 and has already seen incredible gains. More importantly, they are solid projects with strong leadership and use cases.

Crypto prices have struggled so far this year, and we could be in for an extended period of low prices. Rather than looking for cryptos that could beat Ethereum in the short term, focus on cryptos with strong fundamentals that could do well in the long term. These will also be in a better position to survive a crypto winter if it comes.

Finally, crypto investing is rarely a decision. It’s not about Ethereum or Cosmos – there could be room for both in your wallet. Many financial experts advise keeping a large portion of your crypto portfolio in Bitcoin (BTC) and Ethereum, as these are the safest bets in what is a very risky asset class.

Buy and sell cryptos on an exchange selected by experts

There are hundreds of platforms around the world waiting to give you access to thousands of cryptocurrencies. And to find the right one for you, you’ll need to decide which features appeal to you the most.

To help you get started, our independent experts have sifted through the options to bring you some of our best cryptocurrency exchanges for 2022. Check out the list here and start your crypto journey today.