7 New Crypto Coins listed for 10.10, what are they?
On Oct Oct10th, 2021, Tokenize Xchange brought users with 7 new listed crypto coins on the market! That’s right! Have you felt excited yet? Keep reading to find out if they are worth investing in!
The list contains all of the upcoming coins that have been thoroughly reviewed and highly appreciated for their potential. Below are 7 coins include:
- Chiliz (CHZ)
- Nano (NANO)
- Elrond (EGLD)
- Siacoin (SC)
- Fantom (FTM)
- Clover Finance (CLV)
- THORChain (RUNE)
Founded in Malta in 2012, Chiliz (CHZ) was developed to give millions of sports and esports fans a token to buy direct voting power in their favorite football clubs. In this way, fans are no longer passive spectators but active participants of the club.
The development team of Chiliz has adopted the Proof of Authority (PoA) consensus mechanism instead of Proof-of-Work (POW) into the sports arena. Chiliz token is used as the official cryptocurrency of the Socios.com platform.
Features of Chiliz token:
- Fans will be active in voting on the management decisions of their favorite team.
- Voting will be open and transparent.
- Crowd management is made easy.
- Transactions become safer and more efficient.
Nano is a decentralized asynchronous network focused on addressing inefficiencies in existing digital currency and payment systems. Nano uses Directed Acyclic Graph, which allows each user who transacts on the network to have their own blockchain, which is updated asynchronously with the rest of the network.
Below are some advantages of Nano token:
- No transaction fees: As announced by Nano, the method they use is very compact, and there is almost no cost for running Nodes.
- Superfast transaction speed: Nano has a transaction speed up to 1000 times faster than Bitcoin.
- The scalability is almost unlimited.
- Energy-saving: While 1 BTC requires 330kWh to process a transaction, a Nano transaction requires less than 0.001kWh = 1Wh. This is a huge difference between these two cryptocurrencies.
Elrond Network (EGLD) is a Public Blockchain. It focuses on the scalability, efficiency, security, and interoperability of the Blockchain while ensuring its decentralized nature.
The goal of Elrond Network is a global Blockchain with transaction speeds of up to 10k tx/s, low latency, and virtually negligible transaction fees.
So what are the problems that Elrond Network (EGLD) are developed to solve?
- Lack of complete decentralization.
- Security risks.
- Limited scalability.
- Low effectiveness of the current Blockchain
- Cross-interoperability between different Blockchains is limited.
How does Elrond Network (EGLD) solve those problems?
- Adaptive State Sharding allows the expansion of multiple nodes participating in the network by executing transactions in parallel.
- Secure Proof of Stake (SPoS – improved from POS consensus mechanism).
- In this mechanism, qualified validators will be randomly selected through staking and rating, while optimizing the size of the Consensus Group.
- The blockchain has a token called eGold or EGLD which provides network fees, staking, and rewarding validators.
SiaCoin (SC) is a digital currency developed based on an active storage platform called Sia.
Instead of storing data on a centralized system like Google or Dropbox, the combination of a peer-to-peer network and blockchain technology would distribute users’ data worldwide.
Siacoin is specially designed to facilitate decentralized payments, and can also provide support for contract files. They will be encrypted by Siacoin and distributed throughout the hosts, but only the holder of the secret key has access to the data.
Also, Siacoin allows users to “rent out” their unused hard drive.
The cost of storing on Siacoin’s platform will be 10 times lower than traditional payment costs. For example, 1 TB on Amazon’s service will cost about $23, but on Siacoin network, the number is only $2.
Fantom (FTM) is a distributed ledger-based on DAG (Directed Acrylic Graph) technology that is scalable and secures using aBFT principles to build customized decentralized applications (DAPPs) and non-fungible tokens (NFT).
Some of Phantom’s key features include:
- Enable smart contracts in a DAG-based system, using the Lachesis protocol.
- Use Lamport timestamps to achieve topographic ordering of event blocks.
Fantom helps solve the problem of scalability by giving each application its own blockchain, similar to running each application on different computers belonging to the same network.
Each blockchain is independent of the other and can have custom tokens, and governance rules. However, all tied to Lachesis, Fantom’s ultra-fast aBFT consensus, all blockchains can interoperate and benefit from the speed and security of the underlying technology.
Clover Finance (CLV)
Clover Finance (CLV) is a project to develop the foundation layer to support DeFi applications to work seamlessly. The project aims to simplify the user experience and provide a wide range of developer tools.
Clover Finance can be viewed as an infrastructure platform focused on cross-chain compatibility, allowing developers to connect DeFi dApps between Ethereum and Polkadot. It contains a storage layer, smart contract layer, DeFi protocol layer, and external dApp layer that work in sync to implement blockchain interoperability.
The CLV tokens are used to pay for Clover transactions and to vote for network upgrades.
The project aims to improve the liquidity of large price fluctuations in the market. The price movement of cryptocurrencies is attractive to investors, but on the other hand, it is also a factor that prevents the community from using them.
The lack of liquidity of the cryptocurrency market is also the key reason for its volatility. While this may seem appealing to some investors, it looks more likely a gamble than an investment strategy.
By using the chain-agnostic bridging protocol throughout the ecosystem, THORChain can support any existing digital assets. The chain-agnostic protocol allows solving liquidity problems without relying on any other third party like centralized exchanges.
Unlike Uniswap or Bancor, which only support a certain type of chain, THORChain solves the liquidity problem of the whole market by supporting swapping any existing currency.
What do you think of the 7 new listed cryptocurrencies? Don’t hesitate to let us know and keep following Tokenize Blog for more updates on Tokenize Xchange!
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