DeFi is rapidly surpassing conventional banking as an innovative application, and the expansion in the future years will be unparalleled.
From pioneering borderless payment to eliminating intermediaries using the blockchain, DeFi has evolved from a concept to a legitimate competitor of the traditional banking system.
There are numerous established players in the DeFi space, including tokens such as Chainlink (LINK) and Fantom (FTM), which are considered DeFi’s frontrunners.
However, DeFi is becoming even more exciting as new protocols such as Logarithmic Finance (LOG) prepare to disrupt the DeFi system and soar to the moon.
Let’s take a closer look at these three cryptocurrencies.
Chainlink (LINK) and smart contracts
Chainlink (LINK) is an Ethereum-based protocol that links to other blockchains and uses a large network of oracles to supply them with a steady stream of current information.
An oracle may be thought of as a link between the physical world and digital blockchains in its simplest form. Oracles must ensure that blockchains’ smart contracts get constant streams of relevant data, allowing them to function properly.
Indeed, smart contracts are self-executing contracts whose provisions are programmed to be activated only when certain predefined criteria are satisfied. It is thus critical for smart contracts to have access to the most up-to-date data 24/7 to work properly, which is precisely what Chainlink delivers.
Meanwhile, Chainlink has established itself as a major partner for several other prominent smart contract platforms, including Ethereum (ETH), Cardano (ADA), Polkadot (DOT), and Avalanche (AVAX). Chainlink enables these pioneering platforms to stay up-to-date and hence efficient and competitive.
Without question, Chainlink is a growing initiative with a long road ahead of it!
Should you invest in Fantom (FTM)
Fantom (FTM) is a smart contract platform well-known for its exceptional performance and scalability.
Additionally, it utilizes the Lachesis consensus mechanism, a novel aBFT (the greatest degree of security that a consensus algorithm can give) consensus mechanism that enables it to be even quicker and less costly than more known smart contract platforms like Ethereum (ETH).
Fantom (FTM) has promising potential because it provides each decentralized application (dApp) on the network with its autonomous blockchain, unlike other smart contract platforms.
Given its favorable prospects, it should certainly be a crypto that you consider adding to your portfolio.
Logarithmic Finance (LOG)
Logarithmic Finance (LOG) is a layer-3 switching protocol that aims to make financial assets easily transferable across blockchains.
The project includes a cross- and multi-chain system that enables the generation and movement of financial assets across any major blockchain network, including the Ethereum (ETH), Binance Chain (BNB), Polygon (MATIC), Solana (SOL), and Avalanche (AVAX) ecosystems.
Currently, Logarithmic Finance’s (LOG) code is being developed and examined by Certik.
Additionally, LOG is interoperable and open source and with a public-driven and zealous commitment to overall development, the coin has great potential.
Due to the widespread acceptance during the pre-launch phase, sufficient investors should hold the currency when it becomes public. As a result, attractiveness, access, and use cases will increase, as others will be ready to utilize them.
Due to its innovative technology and strong growth potential, LOG should remain on the radar of crypto investors out there.
Everything in the financial world is in place for a revolutionary change in DeFi. All three of these platforms: Chainlink (LINK), Fantom (FTM), and Logarithmic Finance (LOG), might be at the forefront of future DeFi development.
Due to its innovative technology and even quicker growth potential while still in the presale stage, LOG could stand to soar faster than other cryptocurrencies.