Prominent analyst Kyren, known on X (formerly Twitter) as noBScrypto, recently pointed out that Hedera (HBAR) and Internet Computer (ICP) are undervalued assets among prominent trends in 2024.
According to Kyren, these potential altcoins stand out for their ability to leverage the growth of real-world asset Tokenize ( RWA ), decentralized physical infrastructure ( DePIN ), and artificial intelligence (AI).
Also Read: 5 DePIN coins to add to your portfolio in August 2024
HBAR and ICP: The intersection of 3 top trends in Web3
Kyren highlights Hedera (HBAR) and Internet Computer (ICP) as two potential altcoins that show how blockchain technology can intersect with many different trends. According to him, these projects connect the diversity of DePIN, AI, and RWA, bringing many utilities. This is in contrast to projects like Bittensor ( TAO ), Ondo Finance ( ONDO ), and Aethir ( ATH ), which often focus on specific areas with more specialized solutions.
“You definitely want to get involved in at least one project that touches on each of these areas, with some projects spanning multiple areas. Diversify into top projects, but also focus on the fastest-growing trends,”
Kyren commented .
Indeed, diversifying your portfolio across the fastest-growing trends is a wise investment strategy. However, what can be even more beneficial is to take advantage of projects that operate across multiple sectors at once, providing broad exposure and growth potential.
#1. Hedera (HBAR)
Hedera focuses on scalability, low latency, and security. It aligns with the DePIN principle by decentralizing the Internet infrastructure and promoting censorship resistance. Hedera Hashgraph, the technology behind HBAR, provides a decentralized public network with high processing power, security, and a fair consensus mechanism. This creates a solid foundation for developing decentralized applications (Dapps). In addition, HBAR enables efficient data transfer across the network using a DAG structure.
Although not AI-focused, Hedera ’s architecture and capabilities can support artificial intelligence applications and machine learning algorithms. The network’s fast confirmation speeds, low transaction fees, and secure consensus mechanism make it suitable for handling complex AI computations. Developers can leverage Hedera ’s scalability and performance to build AI solutions on a decentralized platform, exploring the convergence of blockchain and AI.
Furthermore, Hedera ’s utility extends to the RWA space through its cryptocurrency, HBAR, and smart contract capabilities. With the help of HCS and Token Standard , users can create digital representations of physical assets, securities, or commodities on the network. This enables seamless transfer and trading of Tokenize RWAs while ensuring transparency, immutability, and compliance with regulatory frameworks.
#2. Internet Computer (ICP)
Internet Computer (ICP) aims to revolutionize the Internet by providing an open, decentralized protocol for hosting web content and services directly on the blockchain. By decentralizing the traditional client-server model, ICP strives to create an immutable, censorship-resistant Internet infrastructure. This aligns with the principles of DePIN by fostering a sustainable, inclusive ecosystem where users interact with Dapps and services without intermediaries.
Additionally, the Internet Computer architecture supports AI models and applications, leveraging its computational power and scalability. The ability to execute smart contracts at web speeds and store large amounts of data on chain makes the platform suitable for AI use cases such as decentralized AI marketplaces, predictive analytics, and autonomous systems.
While Tokenize RWA is not the primary focus of Internet Computer, its architecture and smart contracts support the management of Tokenize assets. Through ICP, users can unlock liquidation, fractional ownership, and programmability for assets such as real estate and commodities. This add-on expands the Internet Computer ecosystem and shows its diversity across multiple sectors.
By working in diverse sectors, both Hedera and Internet Computer achieve portfolio diversity and tap into a wide range of potential trends. However, projects that focus on a single sector can also gain significant traction as their specific stories gain traction. However, retail investors should always conduct thorough research before making any decisions.
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