The Motley Fool writer Sean Williams, who is an investment planning specialist, believes that there are other cryptocurrencies with “brighter futures” than Shiba Inu. Williams explained these five virtual assets, which include Stellar, Ethereum, and Solana.
We find The Motley Fool article educational. We are well aware that Shiba Inu, which has a trading price of US$0.00005701 at the time of writing per Coinmarketcap.com, has gained prominence since its launch merely 15 months ago, which was last August 2020.
However, it has moved higher in a staggering way: a mammoth 13.2 million percent. Williams relayed that Shiba Inu’s historical gain is the outcome of multiple factors.
Some of them are the Twitter posts by Tesla chief executive officer Elon Musk and the increasing number of virtual currency exchanges listing the Shiba Inu tokens for trade. Williams added the July launch of the decentralized exchange ShibaSwap contributing to the cryptocurrency’s historic gain.
Nonetheless, based on Sean Williams’s article posted on the official website of private financial and investing advice firm The Motley Fool, there are other virtual currencies that offer more long-term promise to investors. They include the following three crypto-assets:
Stellar is one of the virtual assets that Williams believes has a brighter future than Shiba Inu. It is a blockchain-based payment network.
Moreover, Stellar offers rapid and low-cost execution. Cross-border payments can take up to one week to validate and settle when employing existing infrastructure.
Nevertheless, this cryptocurrency Williams believes is better than Shiba Inu facilitates fiat currency conversion to its protocol token Lumens or XLM in a matter of seconds. XLM gets transferred halfway around the globe and gets converted back to native fiat currency fast at merely 0.00001 XLM, which works out to US$0.0000038 per transaction.
This established crypto-asset has generated the most real-world conversation due to its blockchain technology being decentralized finance’s (DeFi) backbone. DeFi employs smart contracts on financially-focused blockchain to complete transactions otherwise slowed down or stopped by financial institutions.
These smart contracts are the protocols designed to enforce, verify, and facilitate an agreement between two parties. Plus, they are the soul and heart of what drives Ethereum.
Ethereum is also highly significant and relevant as financial technology. The Enterprise Ethereum Alliance or EEA has over 100 members who aim to increase knowledge and utilization of Ethereum’s blockchain technology.
Solana is another cryptocurrency with superior potential to Shiba Inu over the long term, per Williams. This virtual asset is all about incorporating smart contracts like Ethereum and permitting developers to build decentralized applications or dApps.
Nevertheless, unlike Ethereum, Solana delivers notable advantages on the table, including on the efficiency aspect. Its proof-of-history protocol dramatically enhances the speed by which transactions process.
Solana can process 50,000 or more transactions per second, unlike Ethereum, which can handle merely around 13 transactions per second.
We agree with Mr. Williams that there are plenty of other cryptocurrencies that deliver more promising results to investors than the Shiba Inu cryptocurrency, including Stellar, Ethereum, and Solana. We recommend virtual currency investors consider his recommendations and see for themselves.