Two altcoins could experience significant growth in 2023. They have fundamentals and solve real problems in the blockchain industry and beyond.
U.Today has already reported on aspects that could make Polygon (MATIC) and Chainlink (LINK) are growing in the coming year. However, these altcoins are known to the market and are already in the wallets of many cryptocurrency investors.
Some cryptos are out of sight for many investors but could see a big uptick in 2023. Find out which ones:
One of the big stars of the new year could be Ethereum (ETH). After all, the altcoin will undergo another network update, The Surge, which may impact how its users transact.
The Surge aims to improve the scalability and capacity of the altcoin. As such, it promises to process up to 100,000 transactions per second. The upgrade will also reduce the cost of registering information on the Ethereum network.
However, until the hard fork happens, the need for ETH to compress its network data so that it can be used more in daily life exists. The solutions presented by Optimism could be well received by the blockchain market and help increase the capitalization of the token ecosystem.
Optimism is an Ethereum Layer 2 blockchain. This means it has the security of the leading altcoin while offering lower fees and faster transactions.
On the platform, there are already important projects such as the Synthetix derivatives exchange. Even Uniswap, the leading decentralized DeFi exchange, is using Optimism’s technology, showing that it’s possible other market leaders will follow suit by 2023.
The graph (GRT)
The use of application programming interfaces, APIs, is becoming more and more important all over the world. These translators have the function of connecting systems, software and applications, allowing a better user experience.
APIs allow the end user to use an application, software, or even a simple spreadsheet, to query, modify, and store data from various systems, without the user having to access it directly.
However, the big problem is that the APIs are centralized with a single point of failure. So one day you might be using your normal app and it might stop working due to a hacker attack or just because the owner of the app decided they would no longer offer the API for free.
This would be a big deal because by simply disabling the API a site can even be destroyed.
To solve this kind of problem, The Graph was developed. The Graph offers the creation of decentralized APIs, called sub-graphs.
As Chain link Having become important for the DeFi ecosystem by offering decentralized oracles, The Graph shows a lot of potential for this same sector.