Are EOS, Cardano, and Tezos the Next Big Cryptocurrencies?

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Are EOS, Cardano, and Tezos the Next Big Cryptocurrencies?

The more cryptocurrencies there are, the more difficult it may be for average investors to determine which are worth following. Now that the industry’s top names, such as bitcoin and ethereum, are widely recognized to a large investment audience, some believe it’s helpful to keep an eye out for the “next big thing.”

According to a new study by, EOS, Cardano, and Tezos are “huge sleepers” that may be finally gaining traction. In the case of Tezos, legal issues have kept the project on hold for about a year.

EOS and Cardano have continued to make progress, but they have not received the same level of attention as bitcoin or ethereum. Here are some of the reasons why these three digital currencies may be gaining popularity.

Governance, Speed,and Ethereum

EOS, Cardano, and Tezos all have a connection to ethereum. Each is designed after ethereum in some fashion, and each is seeking to succeed ethereum by improving on the bigger cryptocurrency’s faults.

In the case of Tezos, developers want a network with greater governance; the EOS team wants to outperform Ethereum in terms of efficiency and speed. (For more information, see Is Ethereum More Important Than Bitcoin?)

There are several reasons why this and other cryptocurrencies want to dethrone Ethereum. Ethereum is by far the industry’s biggest smart contract leader. Ethereum is used in almost all ICOs and dApps.

On many days, Ethereum outperforms bitcoin in terms of transactions. Despite this, ethereum has a scalability issue. It also has security difficulties, fraudulent ICOs, and larger governance concerns. (See also: Ethereum Smart Contracts Can Be Hacked.)

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Signs of Life

The announcement of a token swap for EOS has made news. It produces blocks every three seconds, which is rather fast. Add to it the fact that EOS has raised more than $1 billion in funding, and it starts to resemble a serious contender to Ethereum. (Also see: What Is EOS?)

Cardano is led by Charles Hoskinson, a co-founder of Ethereum who is well-known in the cryptocurrency community. Any cryptocurrency with a name like that is certain to attract notice sooner or later. (Also see:Cardano Wants to Build a Stable CryptoEcosystem.)

The attractiveness of Tezos is its vast flexibility; following launch, token holders may expect to have a say in how the project is managed. However, developer bickering has hampered the progress in recent months.

Investing in cryptocurrencies and Initial Coin Offerings (“ICOs”) is very dangerous and speculative, and this article is not a suggestion by Investopedia or the writer to do so. Because every person’s circumstance is different, a knowledgeable specialist should always be contacted before making any financial choices. Investopedia makes no guarantees or warranties about the accuracy or timeliness of the information provided on this site. The author owns bitcoin and ripple as of the day this post was published.

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