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For about 2 years, we have seen artificial intelligence gain significant attention, leading to the rapid growth of companies like NVIDA and OpenAI. The race among almost all tech giants to integrate AI into their products indicates even more growth ahead. On the other hand, RWA has the potential to reach a trillion-dollar market size. And these 2 altcoins could benefit from both.
Two Altcoins That Could Rise
Kyren, a well-known name in the cryptocurrency markets, highlighted Hedera and Internet Computer in his latest market evaluation, pointing to their growth potential in 2024. The crypto commentator, known by the pseudonym noBScrypto, focuses on altcoins that could benefit from the growth in tokenization of real-world assets, DePin, and AI.
According to the analyst, these two altcoins have the potential to benefit from bridging three important categories. Of course, this evaluation alone is not enough. For example, ICP made a fast, powerful, and dazzling start with its decentralized internet narrative, but its four-digit price quickly vanished. This collapse coincided with the realization that the decentralization narrative was hollow.
Hedera (HBAR)
HBAR Coin, focusing on secure internet, is an initiative with ties to the DePin narrative. The technology behind HBAR, Hedera Hashgraph, provides infrastructure for developing special decentralized applications. It is highly efficient, secure, adheres to fair consensus, and is decentralized. Although it does not explicitly show presence in the artificial intelligence field, it has the potential to integrate with the network through machine learning algorithms.
The network’s speed advantage and low transaction fees make its secure consensus mechanism a good alternative for AI applications. Indeed, the advantages provided by the Hedera Consensus Service (HCS) and tokenization standards for RWA should not be overlooked. Hedera is making special efforts to tokenize physical assets.
Internet Computer (ICP)
Although the story started great, ICP Coin has significantly declined. Internet Computer, which emerged with the claim of decentralizing the traditional client-server model, was supposed to be the infrastructure of Web3. Later, it became apparent that the claims and goals were quite exaggerated and not as decentralized.
Still, its architecture provides an infrastructure suitable for fast applications. It supports AI models and applications. Although it is not a standout alternative for RWA, it has a suitable working mechanism when efforts are made in this direction, showing its potential. Whether Kyren is right or not is unknown, but if these two initiatives make significant strides in these three areas, they could see growth in 2024.
