Investing in blockchain-native currencies that enable smart contracts has proved a sensible option in previous years. Last year, the value of Ethereum (ETH), and Cardano (ADA), more than doubled. HUH Token debuted in December 2021 and at the time of release it has grown by more than 3500% percent in less than a week, having tens of thousands of holders. Is there a better alternative between these three currencies for the rest of this year?
Token HUH (HUH)
This is a cryptocurrency that went live on December 6, 2021. It has continued to create waves, even in this current bear market. It appears to be fighting the decline as a result of its revolutionary smart contract deferral mechanism.
It works by providing HUH Token holders with a code which, when used for the first time by another new owner, pays the person who found the code 10% of the original trade. That ten percent is raised in Binance Coin (BNB), but there appear to be plans to raise it in a variety of other cryptocurrencies as well.
The HUH token aspires to develop a strong community focused on influencer marketing, they recently demonstrated with a viral campaign on Instagram and Twitter, where well-known influencers posted about this token. One such influencer was Pragya Nagra who has over half a million followers on Instagram and there were others with even more.
HUH’s whitepaper includes notions for metHUH, a social media network that would attempt to quantify the pursuit of sentiment as a financial incentive. HUH Token is available on three exchanges: Uniswap, BitForex, and PancakeSwap.
Ethereum (ETH)
Bitcoin (BTC) is still the most prolific cryptocurrency in terms of market capitalization. Ethereum (ETH), on the other hand, is in second place. Its market value of nearly $ 500 billion is nearly five times that of the underlying cryptocurrency.
Some believe that Ethereum (ETH) has the potential to dethrone Bitcoin in the future due to its sheer utility.
In terms of utility, no other blockchain platform comes close to Ethereum. The Ethereum network is the basis of more than 40% of the 100 most important cryptocurrencies in the world. Other uses include decentralized insurance, gambling, commercial markets, and non-fungible tokens (NFTs).
The main criticisms leveled at Ethereum are its poor transaction speed and its exorbitant fees. If this trend continues, rival tier one ecosystems like Harmony (ONE), Cardano (ADA), and Fantom (FTM) will most certainly gain momentum on Ethereum.
Ethereum 2.0 (Eth2) is a significant update that will dramatically improve the speed, security and sustainability of the blockchain, with the aim of overcoming the aforementioned weaknesses in the near future.
Cardano (ADA)
Cardano (ADA) is an open-source decentralized blockchain platform.
It is currently in the midst of its strategic plan, having recently completed the third of five development phases with the implementation of smart contracts, or self-executing programmable agreements that enable the creation of decentralized applications (dApps).
Cardano (ADA) is a proof-of-stake (PoS) blockchain that was developed with the support of peer-reviewed research from engineers and academics. It also employs a strict formal development methodology. The proof-of-stake (PoS) system is currently the most desirable option over proof-of-work (PoW) systems such as Ethereum (ETH), because it consumes less power and requires less hardware, resulting in transaction speeds.
The problem with Cardano is that it is very centralized. This means that a lot of power is concentrated on a few people; this is not a good precedent for the future of this ecosystem, but it makes scaling easier.
The choice of which cryptocurrency to keep is very subjective. If you prefer younger and less established cryptocurrencies, HUH Token (HUH) or Cardano (ADA) are more suitable. Ethereum (ETH) is probably the best option if you want the relative stability of a more established platform. Cardano (ADA) and Ethereum (ETH) have already carved out their places, while HUH Token has only recently emerged and is fighting for its place.
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