The digital market hosts thousands of cryptocurrencies, and it brings multiple opportunities for people who want to stand apart and let go of traditional financial systems. Understandably, to make everything possible and provide users with high-security standards, speed, efficiency, and an overall great network, blockchain technology is complex. Still, the complexity of a network doesn’t vote on its reliability, and among all coins, there are just a few that stand apart. Therefore, choosing the currency that would be a great option for your portfolio is not easy, and in order to make the most of your web3 activity, it’s essential to learn to identify the best features and underlying technology of a cryptocurrency so that you can compare them and pick the one that serves your needs best. However, it is indeed a good idea to invest in different coins for portfolio diversification. So, to have a clear idea about the capabilities of the coins, in this article, we are going to unveil the power of 2 popular networks: Bitcoin, which is the world’s first cryptocurrency, and Toncoin, which might be less popular, but you can check the Toncoin price to see what the blockchain promises, and you will be surprised about its potential.
Bitcoin, the world’s first cryptocurrency
Bitcoin is the first cryptocurrency in the world. The coin was launched in 2009, and since then, it has reshaped traditional finance. Bitcoin’s main utility case was that it was a store of value, and it has been considered digital gold for over a decade. However, over time, the capabilities of the network have improved significantly, and now BTC serves the needs of a broad audience. Bitcoin has seen multiple transformations and experienced many price fluctuations over the years, but this hasn’t scared committed investors. BTC ranks first for being the most popular coin, and it’s considered the leader of the web3 thanks to its ever-evolving ecosystem.
The surge of Toncoin
Toncoin can be described as an open-source network for everyone. The ecosystem aims to provide users with enhanced capabilities regarding programmability, offering advanced tools like smart contracts for the development of decentralized applications and other financial assets. TON was developed by the messaging platform Telegram, which is well-known for its enhanced encryption, making the network a safe haven for users as well. The ecosystem brings a future-oriented vision into the digital market, and it promises constant evolution, as it wants to surpass the most popular coins in terms of programmability, such as Ethereum.
Technology used
Bitcoin uses a proof-of-work consensus mechanism, which focuses on security and decentralization. On the other hand, TON relies on a proof-of-stake consensus mechanism, following the Ethereum model. Still, TON has more advanced technology, using a sharding architecture that enables the blockchain to split into smaller parts. Moreover, Ton also uses a technology known as the stack, which combines essential elements like smart contracts and distributed ledger technology (DLT). Understandably, thanks to the multiple factors that contribute to the expansion of the Toncoin ecosystem, we can say that it’s a better choice for people who want to enter the crypto world for more than an investment. Still, as you will see in the next paragraph, bitcoin has recently adopted some programmable features as well for its blockchain, adding an extra layer to the main blockchain.
Smart contracts
Smart contracts are digital agreements between parties involved in a transaction process or any activity on the web3 that involves the development of an app. This technology eliminates the need for a central authority, and it is one of the most popular and ever-growing sectors of the digital market. Bitcoin has always been the gold of the digital world, representing a great investment opportunity and a store of value. For a long time, the capabilities of the network were very limited, but recently, the network has adopted a new technology to enable programmability: layer-2 solutions. This feature makes it possible to deploy smart contracts and, therefore, create decentralized applications and new tokens like NFTs. Toncoin, instead, is programmable by nature, and smart contracts are the cornerstone of its blockchain, encouraging widespread adoption among investors and businesses from all over the world. BTC is constantly working for improvement, and so is TON, which makes the choice between the two efficient systems even harder.
Adoption
Blockchain remains the most popular digital coin of all time; therefore, since it has been present in web3 for over a decade, it has been embraced and accepted in multiple countries. The network has been adopted by many businesses that can now benefit from the programmable features of the layer-2 scaling solutions and by individuals who want to ensure the highest returns in the market. Toncoin is relatively new, and it might not be a top choice for people who haven’t had the opportunity to explore all the assets other than BTC and Ethereum. However, the network is continuously evolving, and the coin’s popularity is increasing significantly, so we can expect widespread adoption of it in the near future as well.
Eco-friendliness
There have been many concerns about the proof-of-work mechanism used by Bitcoin, as it consumes incredibly high amounts of energy for the mining process, which has been a controversial subject for a very long time. Still, we don’t know yet if this will ever change or if the BTC network will hop on the green and right path. Toncoin uses the most eco-friendly system instead, just like Ethereum (proof-of-stake), so the adoption of the network is influenced by this aspect as well, as people are becoming more eco-conscious and looking for innovative ways to rethink their choices in terms of finance.
The bottom line
Choosing between Bitcoin and Toncoin might not be easy, but if you want to experiment with the crypto world, you can integrate both currencies into your portfolio so you can have a close look at their performance and analyze the best features that could help you achieve the financial freedom you seek.
