What many thought was just a craze has turned out to be one of the pioneering technologies to drive change in the financial services sector. Indeed, cryptocurrencies have taken the world by surprise with the meteoric rise in both their valuations and popularity. Without a central agency controlling the transactions on a distributed ledger, blockchain based cryptocurrency tokens and non-fungible tokens have enabled seamless transfers of wealth and assets while offering investors benefits like data privacy. For investors who are looking for long term cryptocurrency investments, their search ends with Supontis (PON), Avalanche (AVAX), and Polygon (MATIC). Here’s a brief description about their key features.
Suppontis: Minting gains with cross-chain bridging of assets
As a blockchain-enabled platform, Suppontis enjoys an edge over other similar platforms by facilitating seamless bridging of assets between multiple blockchain systems. The hassle-free transfer of cryptocurrencies enables investors to work between different blockchain systems and their respective native tokens. For developers, the facility means that the dApps that they deploy can access the capabilities of different blockchains. It is built on the Binance Smart Chain and leverages the potential of the proof-of-stake consensus protocol.
The transfer of assets takes place in two steps that are executed by a robust smart contracts system. In the first step, once the process of transfer begins, the Suppontis mechanism generates an equal amount of wrapped tokens in the blockchain to which the original assets have to be transferred.
The platform has its own native token, PON, that can be used for a host of transactional uses including staking and yield farming. Available on presale, the PON Token can also be used for earning rewards and voting rights. However, users should know that the tokens bought from presale are likely to have a vesting period and then be locked up for upto two months. The move is expected to pave the way for the platform’s optimal growth.
The PON Token’s supply will be capped at 10 billion and will be allocated for different purposes. Apart from presale, the tokens will also be set aside for marketing purposes, reserve capital, initial DEX offerings and for donations to charities.
Supontis’ governance structure is based on the decentralised autonomous organisation (DAO) principles, where token holders get to participate in the development of the platform. Under the DAO system, PON Token holders get to vote on proposals concerning operational decisions and other developments that were pitched by other community members.
MetaDerby to launch new horse racing game on Avalanche network
A smart contracts platform, Avalanche enables its users to trade cryptocurrencies and deploy next-generation dApps that are not just highly scalable but cost-effective too. The platform is powered by a native token, AVAX that is designed to meet all transactional uses on the Avalanche network. The platform also enables developers to build their own blockchain systems and virtual machines depending on the use case they have in mind. In a recent development, Avalanche announced that it would be partnering with MetaDerby to launch a dual-token horse racing game on its network. Players can look forward to racing horses across tracks, trade tokens, bet on races and even breed horses, among other attractions. Given cost-effectiveness and scalability of the Avalanche network, users can look forward to a seamless metaverse experience.
Scaling Ethereum-friendly dApps? Polygon is the best fit
The Polygon network is a scaling tool for building Ethereum-compatible dApps with a cost-effective mechanism and robust security. Till now, the platform has processed over 1.6 billion transactions and has enabled over 19,000 dApps in leveraging the benefits of Web3 solutions. For scaling purposes, Polygon has several options available for different dApps. For starters there is Polygon Nightfall that leverages optimistic roll-ups and zero-knowledge cryptography. Another option is a highly agile solution using zk-roll up. It leverages a fast-paced recursive system that is compatible with Ethereum-based blockchain systems. Users on Polygon network use its native token MATIC for all transactional purposes like staking and yield farming that they might encounter on the platform.
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