The crypto market is progressive in India with many investors, and here are five crypto projects to keep an eye on in the year 2022.
The crypto market is progressive in India with many investors, and here are five crypto projects to keep an eye on in the year 2022.
The year 2021 has been a tremendous one for cryptocurrencies across the world. The market capitalisation for the crypto assets touched an all-time high of three trillion dollars in November. However, India has millions of crypto investors, making it the second-largest country globally.
The crypto industry is gaining significant traction in India. With more than 10 crore crypto owners in the nation, India is a potential haven for cryptocurrencies in the near future. Thus, the regulated crypto framework would create a thriving ecosystem that will encourage many more Indians to invest in it. Here we have five crypto projects that you should keep a watch over in 2022 in India.
Five Crypto Projects to watch
Ethereum: It is the second-largest crypto network in terms of market capitalisation. It is the backbone for all the initial coin offerings or ICO, DeFi protocols, decentralised apps and most non-fungible tokens. Some of the tokens built on the Ethereum network include ChainLink (LINK), Tether (USDT) and the USD Coin (USDC).
Ethereum aims to remove the bottlenecks and scalability issues and bring the long-awaited proof-of-stake mechanism to the blockchain.
Polygon (MATIC): It is the glue that holds everything together in a world full of cryptocurrencies. The network is the infrastructure that helps various blockchains interface with one another. Crypto connoisseurs believe MATIC makes crypto transactions several times faster than other top coins.
Solana (SOL): Solana is currently the fastest crypto network in the crypto space. And it also helps with the implementation of technologies like dApps and smart contracts. The only token works on both proof of stake and proof of history consensus model. With a processing rate of more than 50,000 transactions per second, Solana is the fastest network so far.
Decentraland (MANA): It is a virtual world where users will create an avatar to interact with fellow users. The avatars can then buy LAND and various resources using the native token of Decentraland. It looks like a game, but Decentraland uses cryptocurrencies, NFTs and market economy to create a virtual world accessible to all.
Polkadot (DOT): This blockchain’s sole purpose is to render the development of new networks much easier for developers. Moreover, it helps the users build new blockchains that work in tandem with the existing ones. The functionality of blockchain is that it powers the web 3.0 revolution.
