New to the crypto market, Stakenomics (STAK) is a cryptocurrency that intends to use the benefits of blockchain technology to change the way transactions are conducted, managed, and operated in the world’s financial market today.
Older cryptocurrencies like Algorand (ALGO) and Bitcoin (BTC) have transformed the financial market but Stakenomics intends to do even more by creating decentralization and increasing crypto adoption.
Stakenomics (STAK)
Leveraging both the Proof-of-Stake (PoS) and Proof-of-Work (PoW) consensus mechanisms, Stakenomics (STAK) is an open-source decentralized platform that has developed decentralized applications (dApps) that are governed and regulated by its underlying smart contract to automate, perform, and manage transactions and wealth innovation and development in a decentralized and distributed environment.
Centralized institutions in the current financial system are plagued with several problems that the Stakenomics (STAK) platform intends to solve these problems by utilizing its consensus mechanisms. The problems Stakenomics (STAK) intends to solve include security, traceability, censorship, and scalability.
The Stakenomics platform is powered by its native token known as the STAK token. The token has a total maximum supply of 10M tokens of which 20% will be offered up for sale during the Stakenomics public presale. The token is a BEP-20 token built on the Binance Smart Chain (BSC). The Stakenomics platform chose the Binance Smart Chain (BSC) because of its specialized features including but not limited to faster transactions, high throughput, and predictable transaction fees.
Algorand (ALGO)
Based on blockchain technology, Algorand (ALGO) is an open-source decentralized network that supports and secures decentralized applications (dApps) and services. Founded by a computer science professor known as Silvio Micali in 2019, Algorand (ALGO) possesses several systems that are scalable, secure, and efficient to allow them to operate and function in real-world applications.
The Algorand (ALGO) network has special features that make it unique including but not limited to fast transaction speeds compared to other networks such as Bitcoin (BTC), cheaper transaction fees, and a ‘no-mining’ policy that helps the network retain more energy unlike other blockchain networks such as Bitcoin (BTC). The Algorand (ALGO) network is also compatible with well-known cryptocurrencies such as Ethereum (ETH). This compatibility benefits Algorand (ALGO) because it enables it to connect to the decentralized applications (dApps) hosted on the Ethereum (ETH) ecosystem and thus, attract more liquidity to its network.
The Algorand (ALGO) network is supported by its Proof-of-Stake (PoS) consensus mechanism and powered by its native token known as ALGO. The ALGO token has a total maximum supply of 10 billion units in the cryptocurrency market of which 6 billion are in circulation.
Bitcoin (BTC)
Invented by an anonymous entity known as Satoshi Nakamoto, Bitcoin (BTC) is the pioneer cryptocurrency that gave rise to the cryptocurrency industry. It is an open-source peer-to-peer digital currency that led to the creation of a new decentralized financial market that will allow its crypto users and enthusiasts to create, buy, and trade cryptocurrencies and other digital assets in their daily lives.
BTC symbolizes the native utility token of Bitcoin and it has a fixed total maximum supply of 21 million coins with a circulating supply of 19 million coins.
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