By EWN • 10 November 2022 • 10:35
With rallying returns and advancements in blockchain bolstering their functionality, cryptocurrencies are the star performers of a sector that has seen a lot of volatility due to factors like a pandemic, market crashes, and inflation. Acting as a buffer against such fluctuations, cryptocurrencies offer people an investment mechanism that is independent of regular market levers.
If you are looking for ways to select good cryptocurrencies, the best way is to start with research. You can pick some of the top performers like Dogeliens (DOGET), Avalanche (AVAX), and Filecoin (FIL), find out as much information as possible about them, and then select the cryptocurrency that best suits your investment needs. Here’s a look at how these cryptocurrencies stack up against each other.
Dogeliens is a peer-to-peer meme coin that is inspired by the brave army of dog aliens that inhabit the planet of Puptopia. It is built on the Binance Smart Chain which makes it compatible with leading digital wallets. As its code architecture is open-source, users can tweak it as per their requirements.
Its native token DOGET is the main cryptocurrency on the network and can be used for a host of purposes that include staking, liquidity management, accessing rewards, and trading non-fungible tokens. The DOGET Token will be available on presale for anyone interested in buying it. The total available supply of the DOGET Token is 25,000,000,000 and 30% of it is allocated for presale and awarding bonuses.
What’s more, is that the purchase of the token will make each buyer eligible for a set of rewards. These bonuses will be in terms of the DOGET Token and will depend on factors like the kind of cryptocurrency used in the transaction, the amount of fiat currency spent, how long after signing up the user purchased the tokens, the stage of the presale, and if the buyer has any referrals. Let’s explain the rewards system with an example. If you are a BNB/BSC user and want to buy DOGET Tokens, you will get 22% extra tokens for free. Now, if the transaction takes place in the first stage of the presale, they will get 10% additional tokens as a bonus. The rewards for the second and third stages of presale are 8% and 6% respectively.
As part of its efforts to catalyze the decentralized finance (DeFi) ecosystem, the meme coin has launched two educational initiatives which can be accessed for free and will help users in enhancing their knowledge about cryptocurrencies. The first one is the University of Barkington, where users can enroll in fun and educational courses that cover all aspects of blockchain technology, cryptocurrencies, DeFi, and NFTs. The other initiative is the Dogeliens Academy which is a fully-fledged online classroom where users will be able to study not just cryptocurrencies but also other subjects like geography, mathematics, and reading.
Avalanche is a low-cost and open-source smart contracts platform for deploying dApps. Its native token is AVAX and it is the primary cryptocurrency on the network. The platform has designed a premier scaling solution, subnets, which enables developers to build dApps at blazing speed. The Avalanche Foundation runs a programme whereby it invites developers to experiment and build with subnets to boost its adoption. With Avalanche, developers can build Ethereum-compatible dApps that can process thousands of transactions every second. Plus, it’s low on maintenance. dApps can be scaled on a global level with a minimal number of validators. The month of October brought along a lot of good news for Avalanche users as it achieved multiple milestones. For instance, it crossed 62,339,356 transactions, while adding over 500,000 active users.
Filecoin is a decentralised cloud storage marketplace that doubles up as a blockchain protocol and incentive layer. The open-source platform enables its users to seamlessly store and retrieve data on the web. Users pay for these services to storage providers which are a network of computers. The platform offers storage providers economic incentives to ensure that the data is stored responsibly for however long a user wants. It has rolled out a native token that is useful for all kinds of transactional purposes like staking and for paying storage providers. Recently, Filecoin announced that it was partnering with multiple platforms – ProtocolLabs, Seagate, AMD, and EY – to launch the Decentralised Storage Alliance which could make the journey of switching from Web 2.0 to Web 3.0 seamless. In November’s first week, Filecoin stated in its official blog that the move has enabled it to achieve its aim of providing 2022 zettabytes of decentralised storage – a milestone that it set for 2025.
Given how mercurial markets can be, every investor has a strategy for dabbling with cryptocurrencies. Dogeliens, Filecoin, and Avalanche – have been drawing investors with their promising returns and it is tough to decide which of them is better. However, when it comes to cryptocurrency analysts, many of them have picked Dogeliens as their favourite coin for 2023. Analysts are putting their weight behind the meme coin because of its potential to grow over the long term. Moreover, as it gives its users multiple opportunities to earn, they don’t have to depend solely on its market performance for generating revenue.
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