Today, there are thousands of individual digital assets in the cryptocurrency ecosystem. Which ones should you invest in?
Understand Crypto Assets
Each of these assets is designed to focus on offering users a particular solution. The modern-day crypto market is a solution-driven ecosystem. What this means is that new crypto projects are usually inspired by older ones.
A cryptocurrency project will fail to stand the test of time if it does not cater to any particular needs in the market. However, there are some projects that focus on more innovative services than others.
Stellar (XLM), PancakeSwap (CAKE) and Logarithmic Finance (LOG) are some of the hottest crypto projects that we have on the market today.
These projects stand out because of the unique utilities they offer to crypto users and other projects on the ecosystem. This piece will take a detailed look at essential details about each of these crypto solutions, including what exactly they offer.
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Stellar (XLM)
Stellar, also known as Lumen, is a popular cryptocurrency developed by the Stellar Development Foundation.
This cryptocurrency is traded on several exchanges using the XLM symbol. The Lumen token can be used by crypto enthusiasts on the Stellar network.
They can swap the tokens for other digital assets or invest in it for future gains. By purchasing any quantity of Lumen, you effectively become a part of the Stellars Network.
The Stellar Network is a decentralized blockchain network that exists in the form of a distributed ledger. Its purpose is to connect people, payment systems and banks across different regions.
By doing this, the network will support faster transactions, lesser transaction cost, and transfer of value. In simple terms, this open-source platform can be used to transfer digital assets and fiat currencies across the world within a few seconds and at a reduced cost.
Lumen is the cryptocurrency of the Stellar network. There is a maximum supply of 50 billion XLM tokens in circulation.
The Stellar Network is focused on providing developing economies with a way to offer bank loans and remittances services without being a member of the traditional banking sector.
Stellar runs a distributed exchange mode that allows users to transfer crypto payments even though they may hold assets in other currencies.
PancakeSwap (CAKE)
The explosion of the decentralized finance industry has led to the development of several iterations of the system that attracted numerous people to the world of cryptocurrencies.
One of the most innovative versions of decentralized exchanges is PancakeSwap. PancakeSwap is a DEX that engages several markets at once with blockchain technology. This decentralized exchange is powered by the Binance Smart Chain. As a result, it’s compatible with several BEP-20 tokens.
While it shares some similarities with Uniswap, this platform has a wide range of unique features.
Unlike traditional crypto exchanges that use an order book system, PancakeSwap (CAKE) is a DEX that runs on an automated market maker (AMM).
Using the PancakeSwap system, crypto users don’t have to wait for many hours to have their transactions completed.
The system will automatically match them with someone to complete the process. CAKE is the native or utility token of the PancakeSwap ecosystem.
Logarithmic Finance (LOG)
Logarithmic Finance is a recent crypto project that aims to build on the offerings of the traditional crypto system.
The system was initially designed to support seamless connection between innovators and connectors in the industry.
This way, it ensures that new developments can be processed immediately through the platform.
However, Logarithmic Finance has switched to a multi-chain system that ensures even fast interaction, processing speed and lesser cost.
Crypto users don’t have to stick to blockchain-specific systems. They can choose Logarithmic Finance and simply switch to the blockchain they want. LOG is the native token of this innovative decentralized project.
Are you interested in joining the Logarithmic Finance bandwagon? You’re not too late. Click on the presale link below to get started.
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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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