As a crypto trader, you must always learn about your trading options. Doing this can help you make informed decisions about your actions in the coin market. Are you interested in learning about the hottest options in the crypto space? You’re at the right place. This piece will teach you everything you need about Cardano (ADA), Compound (COMP), and MetaCryp (MTCR).
The Blockchain For The Changemakers – Cardano
If you’ve ever heard of a cryptocurrency called the Ethereum killer, chances are high that they were talking about Cardano. This cryptocurrency was famously renamed after the Countess of Lovelace (1812-1852) – August Ada King. Little wonder this crypto coin rose to place among the biggest names in the coin market shortly after its release. Cardano is referred to as the Ethereum killer because they are capable of the same feature – support decentralised applications with smart contracts. However, Cardano has an interesting advantage that has got everyone talking – its proof-of-stake (PoS) consensus.
So, what’s special about the PoS? The PoS was designed to improve the Proof-of-work (PoW) mechanism. The PoW is what you’ll find in early crypto projects, like Bitcoin and Ethereum. However, it didn’t take long before it became too slow to process cryptocurrency transactions. Through the PoS, Cardano can support decentralised applications and smart contracts faster. Also, users won’t have to spend as much on each transaction. Cardano became an alternative to Ethereum, and many developers have continued to use the decentralised protocol for their projects. ADA is the token symbol for Cardano’s blockchain.
The DeFi Lending Protocol – Compound
Compound is another reputable name on the coin market. This cryptocurrency is renowned for its unique use case. Compound is a decentralised protocol that allows users to enjoy advanced features you’ll only find in traditional finance institutions. In simple terms, Compound is a blockchain that will allow users to enjoy borrowing and lending features. Instead of visiting a bank to borrow money, you can easily get the amount in question from this decentralised protocol. This cryptocurrency has implemented several features to ensure that users cannot run away with borrowed funds. The most notable of all these features is referred to as overcollaterization. But what does it mean?
Overcollaterization is a term that describes a scenario where users will be required to deposit more money on the platform than they tend to borrow. This means that if you plan to borrow $2,000 from the compound, then you must have locked more than $2,000 on the platform. Compound operates like a bank. It charges interest on loans and offers interest to those who lock their assets on the platform. There’s no fixed interest rate on this protocol. The interest rate offered to borrowers and lenders depends on the market supply and demand. One of the most interesting things about Compound protocol is that there are several crypto coin options to borrow and deposit.
The P2E Project – MetaCryp
If you’ve been on the coin market for some time, you’ll have heard about blockchain-based gaming. While it’s not an entirely new concept, MetaCryp aims to take this aspect of the coin market to new heights. This new project is interested in being a safe space where blockchain users can visit to unwind after a long day. Metacryp has designed its features to offer; access to the metaverse, play2earn gaming, advanced DeFi platforms, socialisation, etc. MetaCryp aims to be the coin that will connect the metaverse with the coin market. Users can create custom experiences for themselves and have a great time.
Before now, it was clear that many old blockchain-based games were designed with developers in mind. These games failed to offer players any real benefit or immersive experience. MetaCryp has come to change the narrative. MTCR is the token symbol of this innovative decentralised protocol. The entire MetaCryp infrastructure is built on the Binance Smart Chain. So, you can expect to enjoy fast transaction speeds at low costs.
Find Out More About MetaCryp (MTCR) In The Links Below:
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