The crypto market is as oversaturated as ever with more than 18,000 cryptocurrencies currently in existence. Thus, this makes it difficult for blockchain networks to stand out, which permits founders and developers to become more innovative when it comes to constructing a new cryptocurrency.
Individuals are looking for smaller blockchain networks that have a lower risk factor when investing. An upcoming blockchain that has something unique to offer the market is Parody Coin (PARO). This article will explore how the upcoming blockchain Parody Coin (PARO) can be a distinct currency that establishes itself in the crypto market similarly to crypto giant Solana (SOL) and the niche network THORChain (RUNE).
What can Parody Coin (PARO) bring that is new to the table?
Parody Coin (PARO) is an emerging deflationary utility token that is built on the Binance Smart Chain (BEP20). It is currently in its presale period, which is a huge incentive for people to start investing as PARO is at its cheapest. In addition, PARO has a passive income system, which aims to provide token holders with more control over their finances. The blockchain network also has several key utility features, which include Parody Bridge, Parody Market and Parody Swap. Parody Bridge allows users to maintain a liquidity pool wallet in other blockchains through the use of smart contracts, whilst allowing them to transfer the currency to other blockchains.
Moreover, the Parody Swap feature provides participants with the ability to swap any cryptocurrencies within any blockchain for an equivalent amount of parody coins. Their Parody Market aims to take a different approach to the NFT market by allowing users to mint the existing versions of parody NFTs. Additionally, the market will further offer several rights to the original owner – aiding the activation of the PARO ecosystem. This feature plans to launch in the near future, so if you are interested in getting involved with a blockchain that takes a unique approach to the NFT marketplace, Parody Coin may be the one for you.
How Solana (SOL) built a solid reputation
One crypto coin that has built itself a strong foundation is Solana (SOL). They are one of the most prominent blockchain networks in the crypto market, currently being ranked ninth on CoinMarketCap as of 7 June 2022. Its reputation has been solidified since its emergence in March 2020, developing the nickname “Ethereum killer’ as it uses the proof of history (PoH) consensus – giving users a cryptographically verified passage of time between two events that have occurred and has a much faster transaction speed of 2,700 tps.
Additionally, Solana (SOL) has a hybrid protocol that allows for remarkably decreased validation times for smart contract execution and transactions. Although Solana struggled in May due to the recent crypto crash, it is undoubtedly one of the most trustworthy and secure blockchain networks in the market today. If you are looking for fast transaction speeds and efficient performance, then Solana may be worth your investment.
How THORChain (RUNE) thundered itself into the market
THORChain (RUNE) is a decentralised liquidity protocol which permits users to effortlessly trade cryptocurrency assets across several networks without losing custody of the assets during this process. These exchanges are done through permissionless cross-chain liquidity pools – providing participants with access to stake their assets to earn trading fees. RUNE is used as a based currency in the THORChain ecosystem that is used for platform security and governance as part of THORChain’s Sybil resistance mechanisms.
How THORChain distinguishes itself from other blockchain networks is by utilising a unique system to aid the alleviation of impermanent losses – which refers to when a liquidity provider has temporary loss funds due to volatility in a trading pair. The blockchain network is attempting to intensify the digital asset ecosystem – being completely chain-agnostic and capable of assisting any asset. With a high volume percentage of 28.88% and is ranked fifty-sixth according to CoinMarketCap – THORChain could be the crypto network for you to join.
Solana and THORChain have implemented themselves in an oversaturated market not completely original, but instead, doing things that other blockchains fail to do to a high standard. Parody Coin (PARO) aims to bring unique features to the crypto market, particularly through the Parody Market and how it approaches NFTs. There are only five days left until it reaches the second stage of its presale, so get involved with it whilst the price is low. After all, it may just pay off.
More information on Parody Coin (PARO):
Always conduct proper research when dealing with pre-sales of currencies and tokens. The information above does not constitute investment advice by CryptoMode or its team, nor does it reflect the views of the website or its staff.
CryptoMode produces high quality content for cryptocurrency companies. We have provided brand exposure for dozens of companies to date, and you can be one of them. All of our clients appreciate our value/pricing ratio. Contact us if you have any questions: [email protected] None of the information on this website is investment or financial advice. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. No reviews should be taken at face value, always conduct your research before making financial commitments.