Some Bitcoin (BTC) layer 2 developers believe the only way the king of cryptocurrencies could ever get mainstream adoption is by opening up to the decentralized finance (DeFi) ecosystem. Over $57 billion currently circulates these spaces.
Bitcoin is the most popular cryptocurrency in the world and the first to be recognized by the US Securities and Exchange Commission (SEC) as a commodity. Its network has now added Bitcoin Ordinals, allowing for the deployment of smart contracts on its network. The founder of the Bitcoin Virtual Machine, who goes by the pseudonym Punk3700, believes restricting BTC to peer-to-peer transactions stifles its growth.
Meanwhile, Chainlink (LINK) challenger, InQubeta (QUBE), has emerged as one of the best DeFi cryptos around. LINK prices have grown 160% in the past year, but QUBE gave its investors 220% returns on their investments.
Both projects are focused on artificial intelligence (AI). Chainlink provides a training ground that connects AI models on blockchains with external data, while InQubeta plans to offer more accessible artificial intelligence investment opportunities.
Top crypto to invest in right now: InQubeta (QUBE) expected to dominate the AI crypto space in 2024
2024 is expected to be an excellent year for companies focused on artificial intelligence. The industry has seen exponential increases in investment funds since 2015. AI investments have gone from $12 billion to $120 from then to today, and investor interest continues to intensify. Over $1.5 trillion in investment capital is expected to flow into AI in the next several years.
InQubeta’s decentralized investment space will help to funnel a portion of these funds to AI startups in need of funding by connecting these companies with investors and other sources of funding.
InQubeta ecosystem will provide an alternative for people who’ve been denied entry to mainstream investment mediums and those who simply prefer the increased privacy that comes with decentralized finance.
The viability of AI has increased significantly in the past decade and it couldn’t be any clearer it’s on its way to reshaping how industries and societies operate. Investing in AI today is like backing companies like Amazon during the start of the internet revolution.
How InQubeta connects investors with AI startups
AI startups can get funding on InQubeta’s crowdfunding site after passing an initial evaluation stage. These firms then get to make reward or equity-based ERC20 coins that serve as digital proof of the investment opportunities they present. Smart contracts guarantee investors get all the rewards promised to them.
The ERC20 coins made by these companies are broken up into smaller units to suit each investor’s budget. These tokens are then displayed on the ERC20 token list on the marketplace.
Investors acquire QUBE with their debit/credit cards or cryptocurrency wallets and use the blockchain’s native currency to invest in artificial intelligence by buying ERC20 coins and the investments they denote.
Exploring how Decentralized finance can help with Bitcoin (BTC) adoption
Punk3700, the founder of the Bitcoin Virtual Machine which connects the Bitcoin network with the Ethereum Virtual Machine, believes a consumer layer needs to be built on the Bitcoin blockchain to take it to its full potential.
He wants the Bitcoin community to empower developers to freely build and scale their creations on the Bitcoin blockchain. He believes it will bring more users to the Bitcoin ecosystem.
Punk3700 isn’t the first person to express this view. Willem Schroé, the creator of Spiderchain, also believes Bitcoin won’t reach its full potential until it connects to a wider financial system.
Chainlink (LINK) has surged 18% in the past week
Chainlink provides a decentralized abstraction layer that allows blockchains to connect with external data sources like sports scores. It’s one of the few top altcoins that has enjoyed consistent growth in 2024 despite how bearish cryptocurrency markets have been for most of 2024.
Summary
QUBE, LINK, and BTC are three of the top crypto coins to invest in right now. LINK is already enjoying bullish momentum while BTC is expected to enjoy as much as 400% growth. QUBE could see up to 10,000% growth thanks to the solution it provides for investors seeking to invest in AI.
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Source: https://www.crypto-news-flash.com/defi-essential-for-bitcoins-mass-adoption-say-l2-developers-bullish-outlook-for-chainlink-challenger/?utm_source=rss&utm_medium=rss&utm_campaign=defi-essential-for-bitcoins-mass-adoption-say-l2-developers-bullish-outlook-for-chainlink-challenger