If we want to grow our cryptocurrency portfolio for this new year, we have to be attentive to the great opportunities that the market presents us for this new cycle. It is the year of halving and we must take advantage of this great event in order not to be left out of the next bullish rally. Here I bring you these top crypto picks 2024.
Filecoin (FIL-USD)
Filecoin (FIL-USD) launched in 2020 after a successful ICO in 2017. It aims to be the guardian of humanity’s vital information. Users can pay with FIL to securely store and share data. Unlike traditional systems, Filecoin is open source and community-driven, putting the power in the hands of its users.
The recent FIL dev Iceland track recap showcases Filecoin’s journey into the enterprise world. It saw companies sharing their experiences and challenges in adopting this innovative storage solution. But that’s not all, they bring a game changer called interplanetary consensus (IPC). This has the potential to be next level blockchain technology, and it was designed by the brilliant minds behind Filecoin.
IPC opens a new era of scalability and flexibility for web3, making decentralized applications more powerful. It introduces scalable subnets, ultra-fast transactions and adaptive runtimes, giving developers the tools they need to build something extraordinary. This technology has set up Filecoin to become one of the top crypto picks for the start of 2024.
Arbitrum (ARB-USD)
Arbitrum (ARB-USD), a scaling solution on Ethereum (ETH-USD), has attracted attention for its ambitious goal of improving speed and cost efficiency using optimistic rollups.
The native token, ARB, is now part of a decentralized autonomous organization (DAO) called Arbitrum DAO. It allows ARB holders to actively shape the future of the network by voting on proposals. And, their project roadmap is quite exciting. The release of Orbit, a layer three solution, increased language support for developers, and an expanded set of validators.
The recent update introduced Arbitrum Orbit AnyTrust chains, facilitating the creation of low-cost devnet chains for smart contracts. Another major announcement is the successful migration of Arbitrum One to the Nitro stack. This upgrade brings several improvements, ensuring a more efficient and capable platform. The team has also revamped their documentation to make it more user-friendly.
Polkadot (DOT-USD)
Polkadot (DOT-USD), wants to become the backbone of a supercharged internet of blockchains known as Web3. Imagine it as a space where these specialized blockchains easily chat and share things like data and assets. What sets Polkadot apart from other top crypto picks for 2024 is its ability to update itself. It is a self-improving software that makes changes through community decisions.
DOT, its token, has a triple role. It helps secure the network through stakes, it gives its holders a say in how things work through governance and it acts as a glue, binding tokens together to connect different blockchains. There’s a Relay Chain at the heart of Polkadot, which ensures everyone is on the same page. Additionally, there are separate Parachains, each doing their own thing, but still in the loop.
Recently, the Polkadot team is on a mission to make it even more impressive. They’re deploying something called asynchronous backup, tripling the validators and supercharging scalability. Also, now all corners of Polkadot can use U.S.Dollar Coin (USDC-USD), making things easier and attracting big players.
As of this writing, Gabriel Osorio-Mazzilli did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
