2 Cryptocurrencies That Could Outshine Shiba Inu The Motley Fool | Jewelry Dukan

That Shiba Inu (SCHIB 1.48%) Cryptocurrency has come a long way in a short amount of time. What started out as a hoax two years ago has skyrocketed in 2021, with many investors anticipating massive gains going forward. According to a price prediction by crypto exchange Changelly, based on analysis of social media chatter, the average Shiba Inu owner expects the coin’s price to double in 2023 and quadruple by 2025.

I’m not here to rate the accuracy of Changelly’s Shiba Inu price predictions, but there are several cryptocurrencies on the market that should do even better in the years to come. I especially like what I see in it Algorand (Algo 3.11%) and Speckle (POINT 0.55%) today. Let’s take a closer look at these high-quality crypto investments and see if they’re a good fit for your portfolio.

Algorand: Like Ethereum on steroids

Algorand is a smart contract platform for decentralized applications, similar to ether. This blockchain network was built with speed and low transaction fees in mind. Algorand’s fees are currently around $0.0004 per transaction, compared to Ethereum’s median transaction fee of $0.70. The network managed an average of 1.1 million transactions per day this week, also ahead of Ethereum’s 330,000 transactions per day. And this is taking into account the new and improved Ethereum structure here, not the even slower and more expensive version that was in effect until The Merge on September 15th.

Despite Algorand’s numerous advantages, the Ethereum platform has attracted a much larger developer community. Time is an important factor here. Ethereum has been around since 2015 and the first Algorand transaction occurred in 2019, making the original smart contracts platform almost twice as old as its faster challenger.

However, Algorand is currently working on a bridge protocol that will make its platform fully compatible with the code being developed for Ethereum. This tool won’t negate the Ethereum advantage, but it will give app makers another platform choice that can be adopted with minimal coding effort, allowing the two systems to compete on an equal footing.

Furthermore, Ethereum just reduced its carbon footprint by 99.95%, but Algorand is actually carbon negative. That’s a big selling point for projects that carefully consider their environmental impact.

And Algorand doesn’t have to beat Ethereum to be a successful investment. Its market value today is just $2.7 billion, essentially a rounding error compared to Ethereum’s $163 billion footprint. If Algorand can earn just one-tenth of Ethereum’s developer attention over the long term, the digital coin should outperform Ethereum by six times. This growth opportunity is far more exciting than the Shiba Inu’s limited usability.

Polkadot: The lifeblood of Web3.0 redesign

The Polkadot blockchain network takes a different approach to smart contracts and digital transactions. Rather than trying to be the best at one or more of these features, Polkadot was designed to connect other crypto projects. This allows a polkadot developer to take full advantage of the best qualities of each digital coin while avoiding their downsides.

This unique network design is paired with an advanced ecosystem. Through Polkadot’s multi-level system of parachain auctions and crowdloans, the platform provides direct financial support to innovators and their projects.

Polkadot’s revolutionary plan of attack makes sense given the network’s history and goals. It was created by Ethereum co-founder Gavin Wood and the Web3 Foundation. In short, Web3 is a radical redesign of the internet as we know it, and this vision of a blockchain-based future was designed around the Polkadot network.

I admit that the price of Polkadot might not double next year or quadruple by 2025 as it may take a few years for the fundamental Web3.0 transformation to kick in. As a crucial part of the next-gen internet, however, Polkadot’s long-term growth prospects are tremendous. If polkadot isn’t worth hundreds of billions in 10 years — up from $7.4 billion now — I’ll have to buy a hat and eat it with a pinch of basil. I can’t say the same for Shiba Inu, which I expect will fade over time.

Anders Bylund has positions in Algorand, Ethereum and Polkadot. The Motley Fool has positions in and recommends Ethereum. The Motley Fool has a disclosure policy.

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