A dime might not do much for your bank balance but it’s enough to get you started on your crypto journey. With a market cap of over $1 trillion, the cryptocurrency market is not just for the uber-rich anymore.
Powered by a decentralized mechanism and no middlemen, the cryptocurrency market democratizes investment opportunities for the average person while helping them secure their financial future.
As November closes in, this might be the best time to use that dime for building a crypto portfolio. If you go by what analysts are saying, names like InQubeta (QUBE), Borroe Finance (ROE), Shiba Inu (SHIB), Kaspa (KAS), Hedera (HBAR), Stellar (XLM) and Cronos (CRO) are some of the best altcoins of 2023.
If you would like to know more about these tokens, keep reading.
1. InQubeta: DeFi for driving financial inclusion in the startup ecosystem
InQubeta has emerged as a game changer for AI startups, which often have to hold back plans due to a financial crunch.
The platform leverages the capabilities of the Ethereum blockchain to make DeFi-based crowdfunding a convenient option for startups. With InQubeta, startups can connect with diverse investor groups and raise finances for their projects.
InQubeta’s native cryptocurrency, the QUBE token, is used for making all kinds of payments on the platform. The total number of QUBE tokens available in the InQubeta ecosystem is 1.5 billion, and more than half of the tokens are allocated for public sale.
The team has set aside 35% of these tokens for meeting various expenses like marketing, legal fees, developers, giving out rewards, and maintaining liquidity. Its cryptocurrency ICO also raised over $5.6 million recently.
The biggest advantage of owning a QUBE token is that you don’t have to worry about losing returns to inflation.
The token has an inbuilt anti-inflationary mechanism that reduces price fluctuations by keeping the token supply scarce. The scarcer a token is, the higher would be its demand and price. If the supply increases to a level that the InQubeta team might not be comfortable with, the spare tokens are burned.
One of the reasons why the token supply may increase is when a lot of QUBE tokens are purchased or sold. For each transaction, the buyer or seller has to pay a certain tax in terms of the QUBE token.
Higher tax proceeds can disturb a deflationary token’s supply balance. To avoid such a situation, a small part of the tax proceeds coming from every transaction is burned. The mechanism keeps the supply in check and the token price stable.
Buying the QUBE token during presale could potentially yield huge returns in the long term.
2. BorroeFinance: Using future earnings as leverage
BorroeFinance is a pioneering platform that enables Web 3.0 businesses to raise funds by offering their future earnings as collateral.
These earnings may be in the form of royalties, subscriptions, invoices, and receivables. With its native token ROE, the AI-based platform helps businesses get access to instant cash supply. By investing in ROE, you don’t have to worry about which cryptos to buy today for the long term.
A business’ future earnings are tokenized and minted as NFTs, which are then sold in an online marketplace. The ROE token is a good investment option for the long term.
3. Shiba Inu: Scaling new heights with animal-based memes
Ushering in a new era of meme coins, Shiba Inu became one of the most popular cryptocurrencies in a short period.
Inspired by a dog breed from Japan, Shiba Inu’s fans range from celebrities like Elon Musk to regular crypto users. Though its native token is SHIB, it has rolled out two other tokens – BONE and LEASH – and each of them has a different use.
BONE acts as the governance token of the Shiba Inu ecosystem, LEASH is a token created to incentivize long-term supporters of the meme coin. LEASH offers special privileges and perks for its holders. Shiba Inu is also making waves because of its upcoming Ethereum-based Layer 2 blockchain Shibarium.
4. STASIS stablecoins to be integrated with Stellar blockchain
Maintaining its reputation as a leading token amid new altcoins, Stellar is a network that allows innovators to deploy dApps easily by leveraging blockchain technology.
It offers a wide array of tools that can catalyze the digital asset ecosystem and make DeFi services more accessible. Created by the Stellar Development Foundation, the platform can facilitate the exchange of crypto assets and online transactions.
Its native token is XLM. The network has an in-built order book that monitors ownership of all Stellar assets. Stellar users can easily manage their buy/sell orders while choosing to settle transactions in an asset of their choice.
The decentralized exchange expanded its network after STASIS – a company issuing Euro-based stablecoins – was integrated with the Stellar blockchain. One of the popular stablecoins issued by STASIS is EURS.
5. Kaspa’s KAS token now available on Caleb and Brown
Counted among the top cryptos to invest in, Kaspa is the Layer 1 protocol powering the world’s first blockDAG. The blockDAG is a type of digital ledger where transactions are instantly confirmed and processed in parallel blocks to reduce the time required for confirmation.
The open-source platform uses a proof-of-work protocol for confirming transactions in single-second block intervals. Its native token is called KAS, and it determines all kinds of payments on the Kaspa network.
Kaspa’s GhostDAG protocol paves the way for blocks to exist parallelly and be ordered in consensus. The mechanism avoids the creation of orphan blocks while ensuring secure operations. The KAS network maintains high block rates and takes minimal time to confirm transactions. The top altcoin is also highly scalable, as it makes it possible to generate multiple blocks every second without hampering the network’s security or decentralization.
To keep its users’ assets safe, Kaspa has a secure block network that does not cut corners on decentralization. The premium security is maintained with a proof-of-work protocol combined with the GhostDAG consensus algorithm.
Kaspa has been making rapid strides with new partnership announcements. Recently, Kapsa announced that its KAS token would now be listed on Caleb and Brown.
KAS holders can purchase both fiat currencies and swap the Kaspa token with other assets on the exchange. Based out of Australia, Caleb and Brown is a platform for purchasing, selling, and exchanging crypto assets.
6. EDF wraps up PoC for green certificates for EVs on Hedera
An open-source code, a proof-of-stake consensus, and an easy-to-use model – Hedera has all it takes to be a good crypto to buy. The network offers features like consensus service APIs, EVM smart contracts, and native tokenization to help developers explore new Web 3.0 projects.
Its native token is HBAR and is used for all transactional purposes on the network. What helps is the platform’s high throughput, cutting-edge code architecture, and affordability. Being governed in a decentralized way also makes Hedera resistant to collusion.
A key factor that sets Hedera apart from other blockchains is its distributed ledger technology and its consensus protocol called Hashgraph. The two features give it an edge by reducing operational delays, speeding up transactions, and offering higher scalability.
The Hashgraph can also power high-volume operations like data integrity and micropayments. Hedera’s core offerings include its consensus service, where users can send messages to another blockchain and negotiate order and timestamping.
Tokenization is the platform’s other well-liked tool, which allows users to generate and manage native tokens and NFTs. Benefits like customized royalties and on-chain programmability make the Hedera service unique.
The HBAR platform was recently in the news after Électricité de France (EDF) wrapped up a proof-of-concept on Hederal DLT for automating its renewable energy certificates (RECs).
These certificates serve as a guarantee that the power used for charging an electric vehicle is renewable. EV drivers can also purchase these RECs and redeem them at charging stations.
7. Cronos to be integrated with Supra’s dVRP
Cronos made its way to the top crypto coins by making Web 3.0 solutions and dApps more accessible and affordable for even retail developers.
The public blockchain has been designed to be the foundational infrastructure for Open metaverse applications. Built on Ethermint, Cronos is compatible with EVM-friendly blockchains. It also supports the Inter Blockchain protocol.
Cronos’ multi-chain capabilities enable its users to import tokens built on Ethereum and other blockchains. Once the tokens are ported to Cronos, users can easily trade or use them. These ported tokens can also be invested to support smart contracts-based protocols. The blockchain’s native token is CRO, and all payments on the network are settled using it.
All transactions on the blockchain are confirmed using the proof-of-authority (PoA) algorithm. The consensus protocol is more scalable and streamlined than the proof-of-stake algorithm.
Under Cronos’ consensus mechanism, validators for transactions are finalized after they are assessed by other validators. The skills that a validator needs to have include economic viability, commitment to the Cronos network, and the ability to implement upgrades.
Cronos recently became more popular among buyers after Supra stated that it would be integrating the blockchain with its decentralized verifiable random function (dVRP). The blockchain’s incorporation would offer new avenues to developers using Cronos.
Conclusion
We are far from the New Year, and if you are looking to up your crypto game this year, the above-mentioned tokens are some of the best options for the purpose. They are both user and developer-friendly and are great for diversifying a crypto portfolio.
If altcoins like Kaspa, Hedera, and Cronos facilitate the creation of new-age decentralized solutions, tokens like Stellar and Shiba Inu are fair game for every type of crypto user. The list also features names like InQubeta and Borroe Finance, which are leveraging evolving technologies like AI.
InQubeta even has the distinction of being named one of the top ICOs of the year after its recent presale success.
Crypto users should always try to research a token before buying it as it can help them make better investment decisions. Doing a bit of research ahead of purchase helps in highlighting any potential risks associated with a cryptocurrency.
