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If we want to grow our cryptocurrency portfolio for this new year, we have to be attentive to the great opportunities that the market presents us for this new cycle. It is the year of the halving and we must take advantage of this great event so as not to be left out of the next bullish rally. Here I bring you these top cryptocurrency picks for 2024.
Filecoin (FIL-USD)
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Archivecoin (FIL-USD) launched in 2020 after a successful ICO in 2017. Its goal is to be the guardian of humanity's vital information. Users can pay with FIL to securely store and share data. Unlike traditional systems, Filecoin is open source and community-driven, putting the power in the hands of its users.
The recent FIL Iceland developer track summary showcases Filecoin's journey to the business world. In it, companies shared their experiences and challenges when adopting this innovative storage solution. But that's not all, they bring a revolutionary element called interplanetary consensus (IPC). It has the potential to be a next-level blockchain technology and was designed by the brilliant minds behind Filecoin.
IPC opens a new era of scalability and flexibility for web3, making decentralized applications more powerful. It introduces scalable subnets, ultra-fast transactions, and adaptive runtimes, giving developers the tools they need to create something extraordinary. This technology has made Filecoin one of the top crypto options for early 2024.
Arbitrage (ARB-USD)
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Decision (ARB-USD), a scaling solution in Ethereum (ETH-USD), has attracted attention for its ambitious goal of improving speed and profitability through optimistic accruals.
The native token, ARB, is now part of a decentralized autonomous organization (DAO) called Arbitrum DAO. It allows ARB holders to actively shape the future of the network by voting on proposals. And their project roadmap is quite interesting. The launch of Orbit, a layer three solution, expanded language support for developers, and an expanded set of validators.
The recent update inserted Arbitrum Orbit AnyTrust Chains, which makes it easy to create low-cost devnet chains for smart contracts. Another important announcement is the successful migration from Arbitrum One to the Nitro stack. This update brings several improvements, ensuring a more efficient and capable platform. The team has also revamped its documentation to make it easier to use.
Polka Dots (DOT-USD)
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Moles (DOT-USD), wants to become the backbone of a supercharged blockchain Internet known as Web3. Imagine it as a space where these specialized blockchains easily converse and share things like data and assets. What sets Polkadot apart from other top crypto options for 2024 is its ability to upgrade. It is a personal improvement software that makes changes through community decisions.
The DOT, its token, has a triple role. It helps secure the network through staking, gives its holders a say in how things work through governance, and acts as glue, binding tokens together to connect different blockchains. There is a relay chain at the heart of Polkadot, ensuring everyone is on the same page. Additionally, there are separate Parachains, each doing their own thing, but still in the loop.
Recently, the Polkadot team is on a mission to make it even more impressive. they are implementing something called asynchronous backup, which triples the validators and boosts scalability. Also now all corners of Polkadot I can use US dollar currency (USDC-USD), making things easier and attracting great actors.
At the time of writing this article, Gabriel Osorio-Mazzilli did not hold (either directly or indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com. Publication Guidelines.
Gabriel Osorio is a former employee of Goldman Sachs and Citigroup. He possesses discipline in bottom-up value investing and long- and short-term stock trading based on volatility.
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