During the pandemic, countries like the United States had their governments printing more money and putting it into the commercial banking sector to combat and quell the need for relief while the crisis went on.
However, it led to a rise in the consumer price index and inflation. With so much money in circulation, people have more than enough purchasing power, which devalues the currency. Some countries are already experiencing hyperinflation, while there are rumors that the US economy is well on its way there.
Not surprisingly, this has brought fresh awareness to the advantages that blockchain-based currencies provide and the need for anti-inflation crypto.
While volatility is a significant problem as the rise and fall of cryptocurrencies cannot be determined at times, unlike the stock market, the benefits make us wonder – is inflation good or bad for crypto?
To help you out, we’ve done our research and come up with two tokens – Mehracki Token (MKI) and Ethereum Classic (ETC) – that show potential of being your safest bet against inflation.
Mehracki Token (MKI) centers on fostering feel-good moments with diversity, inclusion, and a vibrant ecosystem. It takes the meme concept and implements it in realistic scenarios and utilities.
To achieve its aim of being an efficient alternative, Mehracki Token (MKI) is backed by the Solana blockchain and offers faster throughput, limitless scalability, cheap transaction fees, and intends to partner with other key figures in the hospitality and tourism sector, to create better network alliances.
Mehracki Token uses MKI as a governing token, and active users control the platform, based on a proof-of-stake algorithm. This means that the more tokens a user stakes, the more rewards they will likely get.
Mehracki Feel-Good Non-Fungible Tokens will count in a system much like a DAO, to determine voting rights of individuals on the network.
Ethereum Classic (ETC)
Ethereum Classic (ETC) is an open-sourced blockchain platform that allows developers to create,
run smart contracts and build decentralized applications. ETC is also the cryptocurrency that runs the network.
Ethereum Classic (ETC) was originally just Ethereum (ETH). At that time, the platform had The DAO, which was the first decentralized autonomous organization, where a group of people were engaged in crowdfunding, to kickstart projects on the network and earn profits.
However, the network was hacked and in a disagreement on how millions of dollars worth of ETH should be revoked, they decided to split up. The users on Ethereum Classic (ETC) were of the opinion that the blockchain principle should not be changed by one person, while others who were in support of the founder reversing the hack, followed a hard fork that birthed Ethereum (ETH).
So, Ethereum Classic (ETC) functions like Ethereum (ETH) and allows token swapping on the network, but it uses a proof-of-work algorithm, which allows users to mine and earn ETC as rewards.
They also plan to keep it that way, as they believe proof-of-work allows more people to validate transactions on the network- an important part of achieving decentralization. ETC also has a fixed supply, making it a deflationary/anti-inflation crypto.
While macroeconomic conditions might cause inflation on crypto, these tokens have shown that they have the potential to withstand inflation. While these coins are already in the market, Mehracki Token (MKI) in its presales stage presents an easy opportunity for individuals to quickly add to their portfolio.
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