Looking for a crypto investment but tired of hearing about Bitcoin, Ethereum, and Shiba Inu? Litecoin ( LTC 2.22% ) and Stellar ( XLM -0.81% ) are two under-the-radar assets worth considering. These under-the-radar assets don’t generate as much attention as their prominent competitors, but they have characteristics that could lead to long-term growth. Let’s look at some more details.
1. Litecoin
Litecoin is one of the oldest public cryptocurrencies, having been introduced in 2011, second only to Bitcoin, which debuted in 2009. While it has fallen behind newer rivals it continues to serve as a faster alternative to Bitcoin.
Litecoin and Bitcoin are superficially similar. Both use a proof-of-work (PoW) mechanism to authenticate transactions, with miners solving computational challenges to add new data to the blockchain in return for new coins. Neither supports decentralized apps (dApps), which employ self-executing smart contracts to provide services on the blockchain.
Litecoin can execute 56 transactions every second, whereas Bitcoin can only do seven. It’s also considerably cheaper than Bitcoin, with a market value of $7.8 billion as opposed to $770 billion for Bitcoin.
Litecoin also has a dedicated team of developers working to ensure its relevance over the long term. In January, the platform upgraded its Mimblewimble protocol to increase network security and privacy, allowing private transactions on its ledger. Changes like these might assist in establishing Litecoin as a unique niche.
2. Stellar
Stellar is a blockchain network that aims to make cross-border transactions easier. In the face of strong competition from similar cryptocurrencies, the platform’s huge addressable market and sophisticated technical features should keep it competitive.
The digital-remittance business is expected to expand at a compound annual growth rate (CAGR) of 15% over the next decade, reaching $37 billion in 2028 as international migration patterns encourage workers to send money back home. Stellar aims to provide a low-cost and user-friendly option for these individuals to move money without depending on traditional financial institutions. While any cryptocurrency can fulfill this purpose, Stellar’s advantage stems from its speed.
The network can support 3,000 transactions per second, leaving Bitcoin and Ethereum in the dust (which manage seven and 15, respectively).
Despite its advantages, Stellar has been overshadowed by its bigger rival Ripple, which also focuses on cross-border money transfers and attracts the bulk of investor interest due to its high-profile collaborations with major financial institutions. That said, because of its emphasis on ordinary people rather than banks, Stellar is distinguished. Furthermore, with a market capitalization of just $5 billion, it is much less expensive than Ripple, whose market value is $37 billion.
Comments are closed.