Blockchain Technology and Market Stability: Petrousus (PSUS), Synthetix (SNX), and Near Protocol (NEAR)
In many financial markets, there are major concerns that arise. Petrousus news..
Due to the delicate nature of the financial space, and the fact that no customer would want to suffer a loss of their investments or savings, financial establishments find ways to stabilize the financial market to reduce market volatility and increase trust.
Due to the popularity and extreme usefulness of decentralized technology, market stability can be further increased mostly because the governance of the decentralized platform resides primarily in the hands of the people.
Here is how projects like Petrousus (PSUS), Synthetix (SNX), and Near Protocol (NEAR) are implementing ideas to ensure market stability in the crypto space.
Petrousus (PSUS) is an open-source smart contract-based protocol seeking to resolve many challenges with decentralized finance (DeFi), such as scalability and interoperability.
With groundbreaking decentralized finance (DeFi) solutions and innovations in crypto technology, Petrousus (PSUS) ensures market stability, safe and secure transactions, and fast and cost-effective transaction processing by introducing token burning which involves periodically destroying a chunk of the total token supply to drive up demand and market value, Anti rug pulls which involves inspiring community support and exhibiting transparency and trust to enable the project to enjoy longevity because there is a certainty that the high rollers don’t intend to drop the project, Anti whale which is ensured by making sure no one wallet can obtain more than 10% of the total token supply, and Attractive Staking and Liquidity provision rewards.
With these innovative steps, it is apparent that Petrousus (PSUS) intends to promote market stability and hedge against inflation in the cryptocurrency market.
Synthetix (SNX) is an Ethereum-based platform that allows users to create synthetic assets called synths. Synths are ERC-20 smart contracts. These assets are like derivatives of real-world assets like gold, stocks, bitcoin, and even fiat currency. The Synthetix (SNX) platform gives users exposure to these assets without them having to own them.
The platform introduces non-Blockchain assets into the blockchain to promote a more stable financial market.
The native token of the platform, the Synthetix Network Token (SNX), is used to provide collateral against issued synths.
It is worthy of note that synths are not tied to the real-world assets directly, they merely expose holders to the prices of the assets. This is to provide the average crypto investor access to these assets and ensure a more balanced market by helping to hedge against inflation and market volatility.
Near Protocol (NEAR)
The Near Protocol (NEAR) is a decentralized application (dApp) and a major Ethereum competitor that improves on developer and user-friendliness. It is a smart contract capable community-run cloud computing platform that applies the Proof-of-Stake (PoS) consensus mechanism to validate transactions on the cryptocurrency market.
The Native token for the protocol is the NEAR token which can be used to pay for transaction fees and storage on the platform. It can also be staked by holders participating in the transaction validation process (Proof-of-Stake).
The Near Protocol (NEAR) improves user-friendliness by introducing readable user account names, rather than crypto wallet addresses. It also provides new users the ability to interact with decentralized applications (dApps) without the need for a wallet.
NEAR also improves scalability in terms of speed and cost through a process called SHARDING.
This process involves splitting the network into fragments called shards. These shards are then assigned to nodes within the blockchain.
Sharding lessens computational load, increases speed, improves energy conservation, and reduces transaction costs.
These tokens have a common characteristic of improving blockchain technology and improving market stability.