After years of being considered too risky an asset to dive in, the cryptocurrency industryhas found its spotlight in the financial ecosystem.
The rise of DeFi has been driven by factors like increased digital adoption due to the pandemic, advancements in blockchain technology and realisation that there is plenty to gain from cryptocurrency.
In the first quarter of 2022 and before the market dips, cryptocurrency had touched new highs. Moreover, added benefits like protection against inflation and data privacy only add to the value of cryptocurrencies.
As celebrities across the world rush to tokenise their brand capital with digital assets like non-fungible tokens (NFTs), it is not hard to see why digital currency is the future of finance. If you are looking to make a splash in the cryptocurrency world and don’t have the time to go through crypto learning resources, then our article is a good place to start.
We have selected three coins and that could be a hit in the coming months. CashFi (CFI), Ripple (XRP), and Stellar (XLM).
Here’s a brief look at their key features.
CashFi (CFI): Building Economical and Sustainable Blockchain Solutions
CashFi is a decentralised blockchain system that offers a financial and sustainable platform for its users to trade and swap cryptocurrency tokens and NFTs. It also doubles as a user-friendly developer tool for building intuitive and scalable dApps in a cost-effective manner.
Based on a proof-of-stake (PoS) consensus protocol, CashFi has been driving impact by solving many problems that riddle legacy systems, such as asset efficiency, low security, lower returns, and lack of a provision for instant liquidity. It does so with a liquid staking process. Liquid staking differs from traditional staking in the respect that the owner delegates the staking part to a third party without losing ownership of the tokens. The platform also provides support for minting synthetic assets.
CashFihas a native token of its own, CFI, that can be used for staking and other transactional purposes to be carried on the platform. Those who want to join in to this rising new project, can purchase the CFI Token on presale right now.
The CFI Token is built on a deflationary model, hence a certain quantum of the tokens are regularly burned to keep the supply scarce and demand high.
Moreover, token holders are eligible to participate in the platform’s governance structure by earning voting rights. Under the voting rights governance pattern, token holders can express their views about any proposals regarding the development, new product launches, and alterations to the platform.
A rather unique section of the CFI token is that the platform incentivises token holding. In other words, the longer a user holds the token, the higher their reward.
Ripple: Where Business Sense Meets Blockchain
With its decentralised global payments network, Ripple enables businesses to drive impact by growing at scale.
Ripple has its own native token, XRP, that can be used for all transactional purposes on the platform.
The sheer speed and agility of the Ripple platform enables businesses to lower their capital requirements, reach out to new audience groups, boost their treasury, source a wide array of cryptocurrencies, and generate new sources of revenue.
Stellar Partner, Bitso Processes $1 Million in Remittances
As a decentralised blockchain system, Stellar enables its users to mint, trade, and send all forms of currency, be it traditional, crypto, NFTs, or meme coins.
The platform also has its native token XLMwhich can be used for staking and other transactional purposes. Developers can look forward to quality documentation and technical support while launching dApps. Recently, Stellar claimed that its partner company, Bitso processed $1 million in remittances between Mexico and the US in the first half of 2022, which is an increase of over 400% when compared to the same period in 2021.
Learn more about the CashFi Token:
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Last Updated Jun 24, 2022, 6:04 PM IST