Why We’re Doubling Down On These 3 Promising Cryptocurrencies
The crypto market has been experiencing a new red wave over the past weeks, making 2022 a much quieter year for cryptocurrencies than 2021 so far. Calyx Token
Nonetheless, there remains hope in the storm, and some promising cryptocurrencies can now be acquired for significant discounts to their historical average thanks to the recent selloff. Calyx news…
This article will go over three such cryptocurrencies, the last one being a newcomer currently holding its presale!
With a market cap surpassing the $14 billion mark, Polkadot (DOT) is unquestionably a blue chip in the crypto space.
This project was co-founded by computer programmer and crypto celebrity Gavin Wood, who became famous for also co-founding Ethereum and inventing its main programming language, Solidity.
Polkadot’s mission consists in bringing together blockchains that are otherwise operating in near-total isolation, also allowing users to easily navigate across these different networks.
This niche and increasingly-popular field of work, known as blockchain interoperability, has been attracting increasing attention and new promising projects such as Cosmos (ATOM) or Quant (QNT).
Polkadot therefore developed a network based on two complementary networks known as the Relay Chain and parachains. Essentially, the Relay Chain acts as the core of the Polkadot ecosystem, in charge of such tasks as establishing consensus or network securisation. Parachains are semi-independent secondary networks that can have more specialised tasks and report to the central Relay Chain.
Also, the Polkadot ecosystem features a number of bridges, enabling communication and interaction with external blockchains such as Bitcoin, Ethereum, Cosmos, or EOS.
Overall, Polkadot is a very solid project that has earned its position as a top 15 cryptocurrency and so-called “Ethereum killer”.
DOT’s current price of $14.28 is offering very attractive value for long-term investors as certain field experts expect the cryptocurrency to reach $75 in the next two to three years.
Like Polkadot, Loopring (LRC) is a project set on improving blockchain scalability and the overall transaction experience for crypto users.
Loopring is based on the Ethereum blockchain and has been focusing on improving a central component within the crypto space: exchanges.
In essence, cryptocurrency exchanges facilitate the trading of cryptocurrencies for other cryptocurrencies or real-world “fiat” currencies. Until Loopring arrived on the market, cryptocurrency exchanges could essentially be categorised into two groups: centralised exchanges (CEXs) and decentralised exchanges (DEXs).
CEXs are run through a central entity, usually a company, and this centralization results in higher efficiency in transaction processing, but implies less user freedom and transparency. Major CEXs today include Binance (BNB), Coinbase, Kraken, FTX (FTT), Huobi Global (HT), and others.
Conversely, DEXs enable peer-to-peer interaction exempt from third-party involvement, but have the disadvantage of being slightly less efficient than CEXs and suffer from liquidity shortages. Major DEXs today include Uniswap (UNI), PancakeSwap (CAKE), SushiSwap (SUSHI), amongst others…
Loopring aims at developing a hybrid product that would address CEXs’ and DEXs’ respective weaknesses and bridge the gap between these two not-so-different concepts. Loopring achieves that by combining together a centralised order matching mechanism with a decentralised on-chain order settlement system.
Besides, The Loopring platform enables developers and other projects to build their own hybrid exchanges thanks to an accessible and easily-integrable plug-in product.
With the rapid expansion of the decentralised finance (DeFi) space, Loopring is bound to experience strong tailwinds in the future, providing that the project remains committed to its roadmap.
Investors have been net sellers of LRC token over recent months due to the project’s slowing growth. However, with LRC now trading around $0.71, now could be a good time to initiate a position.
Calyx Token (CLX)
A new entrant to the cryptocurrency market, Calyx Token (CLX) is a new entrant in the cryptocurrency market and will list its native ERC-20 token, CLX, publicly in the coming weeks.
Amongst the most notable initiatives misted on its roadmap, Calyx plans to deploy a DEX proper to its ecosystem called Calyx Swap. Following the examples of Uniswap or PancakeSwap, Calyx Swap will connect users directly with one another and enable them to trade and exchange different tokens near-instantaneously and at very low cost.
Calyx Token will therefore abide by the increasingly-popular principles of decentralisation and transparency, and seek to be a community-centric token by providing CLX holders with voting rights on the project’s decision and CalyxDAO, the project’s decentralised autonomous organisation.
Moreover, users will be able to stake CLX tokens on the Calyx platform in order to enhance their returns and easily increase their passive income.
The Calyx development team put a strong emphasis on providing sufficient liquidity in the project’s initial phase in order to enable investors to enjoy a smooth trading experience across its ecosystem. Indeed, that aspect is often an overlooked aspect of emerging projects, which end up crumbling due to insufficient liquidity.
Calyx appears as a promising project led by a seasoned team, leaving us hopeful for this new project’s upcoming market launch.
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