Report

Navigating the diverse world of decentralised finance: The Top 5 Cryptocurrencies to look into through this journey are Hedera, Cronos, Fantom, Dogetti and Apecoin

By EWN • 14 February 2023 • 11:30

Hedera (HBAR): Harmonious Blockchain Technology

Hedera offers a sustainable and enterprise-grade public network for the decentralised economy. Evolving from older blockchain technologies, Hedera (HBAR) provides a platform that is designed to excel in speed, security and efficiency. Instead of utilising a typical consensus mechanism like proof-of-work (PoW) to validate transactions, Hedera has its own system with an infrastructure built entirely from scratch, which increases the efficiency of transaction verification, provides high-security levels and protects the network through the underlying hashgraph consensus algorithm of its ecosystem.

The network focuses on high-volume operations such as micropayments, data integrity and tokenisation, and serves as a platform for the creation of powerful decentralised applications for both individuals and businesses alike. The protocol has recently welcomed technology giant Dell, as a governance council member which has caused a price spike in the platform’s native cryptocurrency HBAR, rising to $0.080523 despite going down 15.67% in the last 24 hours, at the time of press. This addition to the team intends to help strengthen its ability to aid users through their digital transformation journey into Web3.

Cronos: Interoperable and inclusive

Cronos (CRO) is the native cryptocurrency of the Cronos Chain, which is a decentralised, open-sourced blockchain developed by Crypto.com and built on Cosmos. The Cronos Chain intends to provide solutions to accelerate the global adoption of cryptocurrencies as a means of decentralising the economy and increasing personal control over one’s finances while protecting users’ identities and safeguarding their data.

The CRO blockchain is a layer one network that is interoperable with Ethereum and Cosmos, with the sole intention of providing users with the utility of Crypto.com’s payment, trading and financial services solutions, acting as a cross-asset intermediary settlement layer. CRO holders can stake their coins on the Crypto.com Chain, to act as a validator and earn fees for processing transactions on the network and the token can be used to settle transaction fees on the blockchain.

With the new ‘Galileo’ update, Cronos (CRO) has come out of the beta version, with improvements on node storage optimisation, startup times and the addition of features that will ensure greater interoperability with Cosmos. Despite going down 4.07% over the last 24 hours, increased usage and adoption of Cronos are on the horizon and will be a big win for CRO, as it currently sits at $0.074015.

Fantom: Fantastic DeFi services

Fantom is a directed acyclic graph (DAG) smart contract platform that provides decentralized finance. With its native FTM token and bespoke consensus algorithm, the platform acts as a network of custom blockchains in which users can create their own platforms for payments, CBDCs, storage of sensitive information such as financial and medical data. Fantom’s in-house token, FTM, is used in staking to secure the layer-1 blockchain network.

What makes Fantom unique, is its scratch-built consensus mechanism and independent consensus layer, Lachesis, which is used to facilitate the platform’s DeFi services and to reach their lofty end goal of granting complete compatibility between all transaction bodies around the world. The performance and proficiency of Fantom’s transaction processing mechanism, ensure high scalability at an affordable price. The live Fantom price is currently at $0.426866, but it has gone down 10.40% in the last 24 hours, at the time of press.

Doggetti (DETI): Contender to becoming Top Dog

Dogetti makes its debut as an up-and-coming meme coin, with a mafia-inspired aesthetic and an inherent emphasis on its core value of ‘family’. The project aims to create a united and inclusive community of holders that will work together to increase their overall net worth. Dogetti brings various forms of utility that make up the framework of the platform such as; DogettiSwap, DogettiDAO and DogettiNFTs to allow users to diversify their portfolios with the charismatic dog-themed NFTs, exchange $DETI tokens for other cryptocurrencies and allow each user to voice their opinion and be a part of the decision-making process as a member of the Dogetti family. Those who choose to venture into NFTs will have the opportunity to mint their very own Dogetti companion, and eventually trade, buy and sell their NFTs in the forthcoming Dogetti NFT drops.

Crypto exchange will be available on DogettiSwap, where ERC-20 tokens can be swapped in a matter of a few seconds, without the need for a central authority. The project exists to produce liquidity within the decentralised finance economy, with the use of a liquidity pool system in which trading fees are lower in comparison to other cryptocurrency exchanges. Transactions made on DogettiSwap have a 6% tax fee of which 2% will go towards the charity wallet, and 2% will go towards the total liquidity of Doggetti, ensuring the long-term stability of the token and the unity of the Dogetti community. Furthermore, holders will receive free $DETI tokens every time a transaction is made on the platform. Doggetti is making big moves on its way to becoming the Godfather of meme tokens.

Planet of the Apecoin (APE)

Apecoin (APE) is another ERC-20 based utility token used within the APE Ecosystem that works towards the empowerment of a decentralised financial community. Holders of Apecoin can collaborate and govern themselves by participating in ApeCoin DAO, as the token is an open and shared currency that can be used without the interference of central authority intermediaries. 62% of all ApeCoin (APE) tokens are allocated to the funding of the ApeCoin ecosystem. Members of the ApeCoin community are also given access to exclusive ApeCoin games and services, that are otherwise unavailble, incentivising members to join the clan instead of just being a third-party developer. All is well for these developers, as the ApeCoin token serves as a tool to participate in the ecosystem by incorporating ApeCoin into different services, games and projects outside the ApeCoin ecosystem.

For More Information On Dogetti (DETI):

Presale: https://dogetti.io/how-to-buy

Website: https://dogetti.io/

Telegram: https://t.me/Dogetti

Twitter: https://twitter.com/_Dogetti_