It’s 2023 and there has never been more opportunity for crypto users. The market is full of exciting new projects and concepts that continue to push adoption to new heights. As a savvy trader, it’s wise to seek out platforms that have the potential to beat out the competition and copycats. Here are the smartest crypto platforms of 2023.
What Makes a Crypto Project Smart
To qualify as one of the smartest projects in the market you need to meet a few key criteria. Introducing a checklist to your search will help to ensure that you don’t get swept up in any FOMO (fear of missing out) and led astray. As a new trader, you must learn to leave your emotions out of your decision-making process.
Social media has made it increasingly easy for people to build up hype on projects that may or may not have the substance to back up their claims. As a responsible trader, you work to improve your ability to make these judgments. Here are new details to check out that could make it much easier to determine what options fit into your strategy.
Serves a Vital Purpose or Improves a System
One of the first aspects to review in any potential trade is the token’s purpose. What was the network designed to do? Is this a major issue that needs resolving or is it a new concept? What is the potential upside to the system and how hard is it to integrate into existing models?
These questions will help you to understand the purpose of the project. The goal is to seek out projects that have upending potential. These networks provide valuable services to aspects of the market. The best projects improve the experience for all users and developers alike.
Chainlink is a prime example of a project that when it entered the market in 2014 provided services that could be leveraged by all users and developers. The network operates as a decentralized oracles blockchain. Oracles are vital to the operations of many DeFi protocols because they enable blockchains to interact with real-world systems. As such, Chainlink helped create today’s fast-paced DeFi sector.
Another example would be the META 1 Coin. The project offers stability and self-appreciation which makes it an ideal store of value. Savers and developers can leverage this stable asset to improve the user experience and provide access to advanced DeFi features with passive income options.
Another crucial point o look at is if the project is secure. It doesn’t matter how helpful or efficient a system is if it has lax security. Crypto history is filled with tales of projects with infinite potential failing due to hacks or coding issues. You can avoid these problems in a few key ways.
The first thing you need to do is stick to open-source code projects. These projects make their code available for the community to review. This approach helps to prevent hacks because everyone can review the project’s core coding. Additionally, you want to seek out projects that have conducted successful security audits. Audits are conducted by third-party groups that make the results available to the public.
Easy to Use
Another major point to consider is the ease of use. A common business saying is “to get the richest the quickest, you need to help the most people in the shortest amount of time.” The best projects will be available to anyone who needs them. They will streamline processes like onboarding and spending rewards.
There is little chance that a project with a complicated and overly confusing interface will reach its maximum potential. However, this ease of use can be offset by the service provided and its value. In this way, tokens that serve a niche market can achieve just as much success as those networks geared toward anyone.
How to Determine if a Crypto Project Makes Sense
The process of qualifying a project as a viable trading option should begin with a deep evaluation of its core components. Here is where you need to delve deeper into the project’s technical aspects. You will want to gain a little more understanding of how it works and what technologies it leverages to achieve its goals.
This step is crucial because you don’t want to trade projects that are just hype. Avoid projects that don’t have working options or sound too good to be true. Remember, it’s a lot easier to make up a good concept then to bring it to market. In many instances, even projects with smart concepts never achieve their goals due to being too adventurous with their strategy.
Is the Project on Time with its Roadmap
The roadmap is a small part of the whitepaper that every respectable crypto platform will offer to traders. This document has important info on the platform including technical aspects, the project’s goals, and the developers. One section that is often overlooked is the roadmap.
The roadmap lays out in detail the progress of the project. It will list vital data like when the BETA testing stage will start and when the mainnet will launch. There is a date beside each step of the roadmap. These dates are a helpful tool to determine if the project is staying on time with its rollout.
It’s never a good sign when the roadmap is out of line with the actual progress of the platform. This scenario usually means that the developers have started to venture into other projects or the technology isn’t ready yet. Reversely it’s a great indicator when a project stays on point with its roadmap until they officially complete it.
The 5 Smartest Crypto Platform of 2023
Now that you have a little more insight into the process of choosing a smart crypto platform in 2023, you are ready to learn about some of the top contenders. This year has proven to be an exciting one in terms of blockchain adoption. Here are some of the smartest crypto projects in 2023.
META 1 Coin
The META 1 Coin is the first successful safehaven token to hit the market. The project is revolutionary in many aspects including its unique structure and features. The first thing to understand about META 1 Coin is that it was built for the average user and not banks or other large corporations. The project’s founder, Robert P Dunlap wanted to provide users with a fairer and more transparent way you generate long-term wealth.
Stability from Diversity
META 1 Coin changes the game in terms of stability. The token leverages a basket of gold-related assets as its reserves. This structure is similar to other stablecoins that use third-party assets to escape volatility. This is ideal because the token is decoupled from the market in terms of market cap affecting price.
The META 1 Coin leverage a basket of gold-related assets to improve stability and fight inflation effectively when compared to other stablecoins. Remember, gold has been one of the best ways to store value for thousands of years. The precious metal is ideal for this purpose because it’s limited in supply, hard to copy, and open, meaning no one country controls the entire gold supply.
Inflation is a saver’s worst Nightmare
META 1 Coin‘s developer decided that gold was better to use versus fiat currency due to its vulnerability to inflation. Inflation is a term that refers to a loss in buying power in a currency. Currently, fiat currencies are suffering from 40-year high inflation which has caused serious issues for savers. Since inflation is higher than the average APY paid out to fiat saves, these individuals are losing money in their bank accounts.
Today’s high inflation is worse than earlier financial events due to record levels of global debt and financial warfare. Additionally, bad financial policies have exasperated the situation further. Governments have printed out trillions in funding which caused the current supply of fiat currency to increase and its buying power to decrease.
META 1 Coin users enjoy the self-appreciation of gold which elements inflationary concerns. Additionally, the project was founded outside the jurisdiction of centralized regulators as a way to buffer against the effects of bad monetary policies or anti-crypto legislation in the future.
Protect the Average User
META 1 Coin differs from other networks in the extent that the development has taken to protect the average user from common risks such as whales. The platform leverages unique restrictions to ensure its long-term decentralization. For example, META 1 Coin can only be held by individual users.
The developments require all traders to prove they are human to participate in the METANOMICs DeFi ecosystem. This approach eliminates some of the biggest whales in the market including hedge funds and trading firms. It also has the added benefit of preventing government agencies from trading the tokens. The goal of the restriction is to build a blockchain economy for the people and by the people.
Token Limits Protect Everyone
The developers took the concept a step further when they introduced a $5 token limit on each trader. The limit serves multiple roles. For one, it ensures no individual trader holds enough tokens to sway the value and hurt others. Additionally, it prevents organizations and trading firms from acting as individual traders and attempting to userp the community
The final asset protection provided to the META 1 Community is the asset value restriction. This protocol requires all trades to meet the minimum asset value for the token. There are a lot of reasons why this mechanism is a game changer. For one, it prevents large-scale dumps by traders. Even if a group of traders got together and wanted to attempt a pump and dump, the average community member would only see their tokens drop to the asset value.
This protocol is the first of its kind to be implemented in the market. It has proven to be very successful. META 1 Coin continues to steadily accrue value. The project was able to secure 1.3% in value during the last market correction which saw many tokens lose around 60% of their value.
HAPI Protocol (HAPI)
The HAPI Protocol (HAPI) provides a new layer of confidence to the market. The goal of the project is to create a new security standard for all blockchains. Interestingly, the project was developed by Walmart Labs to help improve their mobile traffic on Black Fridays years ago. Today, the network provides low overhead and access to real-time data for any network.
Developers can create more useful Dapps with more customization options using HAPI. The protocol features a robust framework that is developer-centric and very reliable. According to company documentation, the network can scale to 18915 requests per second which puts in line with other top-performing options.
Using Java to Code
HAPI provides developers access to a network of decentralized self-healing oracles as one of its main features. Oracles are off-chain sensors that can trigger smart contracts and send data to and from the blockchain. Oracles are vital to many aspects of the market.
Tools make Everything Easier
Another reason why HAPI is a smart trade is that it provides developers with a selection of tools to improve the creation process. There are plugin libraries that streamline options like signed cookies and other vital security processes. Best of all, these systems are designed to be plug-n-play which cuts down on building time considerably.
It’s Time to Trade Smart in 2023
This year is all about trading smart. There is no shortage of projects that meet the criteria to be considered smart. It’s your job to seek them out to get the best results. Luckily, you got a head start. Stick to the checklist in this guide and you are sure to discover projects that make sense when added to your portfolio