Investing in blockchain native currencies that enable smart contracts has proven to be a sensible option in previous years. Last year, the value of Ethereum (ETH), and Cardano (ADA), more than doubled.
HUH Token debuted in December 2021 and upon release it grew by over 3500% percent in less than a week, having tens of thousands of holders.
Is there a better alternative among these three currencies for the rest of this year?
HUH token (HUH)
This is a cryptocurrency that went live on December 6, 2021. It has continued to create waves, even in this current bearish market. It seems to be fighting the dip as a consequence of its revolutionary smart contract referral mechanism.
It operates by providing HUH Token holders with a code that, when used for the first time by another new holder, pays the person who sourced the code 10% of the original trade. This ten percent is collected in Binance Coin (BNB), but it seems that plans are in the works to collect it in a variety of other cryptocurrencies as well.
The HUH Token aspires to develop a strong community centred on influencer marketing, they recently demonstrated this with a viral Instagram and Twitter social media campaign where well known influencers posted about this token. One of these influencers was Pragya Nagra who has over half a million followers on Instagram and there were others with even more.
HUH’s whitepaper includes notions for metHUH, a social media network that would attempt to quantify sentiment research as a financial incentive. HUH Token is available on three exchanges: Uniswap, BitForex, and PancakeSwap.Â
Ethereum (ETH)
Bitcoin (BTC) is still the most prolific cryptocurrency in terms of market capitalization. Ethereum (ETH), on the other hand, comes in second place. Its market value of almost $500 billion is nearly five times that of the cryptocurrency below it.
Some believe that Ethereum (ETH) has the potential to dethrone Bitcoin in the future due to its sheer utility.
In terms of utility, no other blockchain platform comes close to Ethereum. The Ethereum network underlies more than 40% of the world’s top 100 cryptocurrencies. Other uses include decentralized insurance, gambling, trading marketplaces and non-fungible tokens (NFT).
The primary criticisms levelled about Ethereum are its poor transaction speed and exorbitantly expensive gas fees. If this trend continues, rival layer one ecosystems such as Harmony (ONE), Cardano (ADA), and Fantom (FTM) will very certainly gain momentum on Ethereum.
Ethereum 2.0 (Eth2) is a significant update that will drastically improve the blockchain’s speed, security, and sustainability, aiming to overcome the aforementioned weaknesses in the near future.
Cardano (ADA)
Cardano (ADA) is an open-source decentralized blockchain platform.
It is presently in the midst of its strategic plan, having recently completed the third of five phases of development with the deployment of smart contracts, or self-executing, programmable agreements that enabled the creation of decentralized applications (dApps).
Cardano (ADA) is a proof-of-stake (PoS) blockchain that was developed with the support of peer-reviewed research from engineers and academics. It also employs a rigid formal development methodology. The proof-of-stake (PoS) system is currently the more desirable option over proof-of-work (PoW) systems like Ethereum’s (ETH) because it consumes less energy and requires less hardware, resulting in quicker transaction rates.
The issue with Cardano is that it is very centralized. This means that a lot of power is concentrated on a few people; this isn’t a good precedent for the future of this ecosystem, but it does make scaling easier.
The selection of which cryptocurrency to hold is very subjective. If you prefer younger, less established cryptocurrencies, HUH Token (HUH) or Cardano (ADA) are a better fit. Ethereum (ETH) is arguably the better option if you want the relative stability of a more established platform. Cardano (ADA) and Ethereum (ETH) have already carved out a place for themselves, whereas HUH Token has just lately emerged and is fighting for its place.
This gives it an advantage over rivals and a greater opportunity for growth. Each of these cryptocurrencies is a high-risk, but possibly successful, investment opportunity.
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