Bitcoin and Ethereum are leading the charge in the world of decentralized finance. However, the vast crypto landscape is filled with many underrated tokens that have strong growth potential. Crypto currencies aren’t “pretend money”. They are valuable assets that just so happen to be digital. Here are some of the most underrated crypto tokens that deserve more attention.
Chainlink
Chainlink plays an important role in the cryptocurrency ecosystem, even though it is often overlooked. Chainlink provides decentralized Oracle services. Chainlink’s functionality is vital for numerous applications, such as decentralized finance platforms, insurance products, and supply chain management. One of Chainlink’s most significant achievements is its partnerships with major companies and projects. Since Chainlink has so many partnerships, the crypto token enhances the credibility of crypto transactions. For instance, Chainlink has collaborated with Google Cloud, SWIFT, and numerous other blockchain projects to demonstrate its broad applicability.
Algorand
Algorand is another underrated token that has been steadily gaining traction. Turing Award-winning cryptographer Silvio Micali founded Algorand. Algorand aims to solve the blockchain trilemma by providing scalability, security, and decentralization. Its unique Pure Proof-of-Stake consensus mechanism ensures fast and efficient transactions without compromising security. Algorand’s ecosystem is rapidly expanding, with applications ranging from NFTs to supply chains and healthcare. Algorand has low transaction fees and high throughput, making it an attractive option for developers and enterprises with scalability issues.
VeChain
VeChain is designed to enhance supply chain management and business processes via blockchain technology. With VeChain, businesses can track products and verify their authenticity. Industries like luxury goods, pharmaceuticals, and food safety all substantially benefit from VeChain’s capabilities. VeChain’s dual-token system separates the functions of value transfer and gas fees, maintaining network efficiency. VeChain has formed partnerships with major companies such as BMW, PwC, and Walmart China. Despite its real-world use cases, VeChain often doesn’t get the attention it deserves compared to other tokens.
Cosmos
Cosmos aims to create an Internet of Blockchains, allowing different blockchains to communicate with each other. The broader adoption of blockchain technology would simplify various networks sharing data and resources efficiently. The Cosmos SDK is widely used for building new blockchains. Its Inter-Blockchain Communication protocol facilitates interaction between different chains. Projects like Binance Chain and Terra are built on the Cosmos network. Despite playing such an important role, Cosmos often flies under the radar.
Tezos
Tezos is a self-amending blockchain that can upgrade itself without hard forks. Its features make maintaining network continuity and security much simpler. It employs an on-chain governance model where stakeholders can vote on protocol upgrades. How impressive is that? Tezos is known for its smart contract functionality and focus on formal verification. The platform has seen growing adoption in areas like NFTs and Security Token Offerings. However, it often remains overshadowed by other smart contract platforms.
Zilliqa
Zilliqa is a high-throughput blockchain platform designed to scale thousands of transactions per second. Zilliqa is capable of such scalability through sharding, a technique that divides the network into smaller segments that process transactions in parallel. Zilliqa is particularly great for applications requiring high transaction rates, like gaming and finance. The platform has launched several successful projects and partnerships but doesn’t receive the recognition it deserves.
Nano
Nano focuses on providing fast, fee-less, and eco-friendly transactions. Environmental and sustainability issues have been a problem for cryptocurrencies in the past, but Nano is ideal for everyday use. Unlike traditional proof-of-work systems, Nano uses a block-lattice structure where each account has its own blockchain. Nano practices lightweight protocols and minimal resource consumption. Nano is a sustainable alternative cryptocurrency like Bitcoin.
Basic Attention Token
BAT is the native token of the Brave browser. Together, BAT and Brave hope to change the world of digital advertising. Users earn BAT by viewing privacy-respecting ads. Advertisers directly reward users for their attention, ultimately saving money. The Brave browser has gained significant traction. In fact, it has millions of active users. However, BAT remains unappreciated compared to other tokens.
Mainstream tokens like Bitcoin and Ethereum dominate the headlines, but several underrated tokens have strong real-world applications. In time, these projects may gain the spotlight they deserve for all the great things they offer.
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