Numerous cryptocurrencies and tokens appear every day. Some of them are of a practical nature, which means they perform some sort of function. Others, on the contrary, have a purely entertainment purpose and may be in demand only due to the strong buzz around the project. RevenueBot has highlighted a few coins to watch out for.
Holo (HOT)
Holo cryptocurrency (HOT) is the Holochain project’s internal currency, aimed primarily at encouraging people to use the network. The project itself provides users with resources for cloud data storage and computation, as well as a platform for working with dApps. It focuses on the direct interaction between the system participants, data protection and high network throughput.
The main difference between Blockchain and Holochain is that the latter no longer requires global consensus – that is, validation of the action by all participants in the network. Holochain builds a network of independent blockchains – consensus building is necessary, but it only applies to a specific blockchain. The entire Holochain community is not involved in a single transaction. As a result, the main problem – network scalability – is solved, and the platform itself will run much faster, with the lowest power consumption.
The Holochain network uses the Distributed Hash Table (DHT) algorithm instead of the usual Point of Sale (PoS) and Proof of Work (PoW) technologies. This means that blockchain data, and thus the entire Holochain, is stored by network participants. Meanwhile, network members are hosts – keepers of data – who provide space for applications on their devices.
Chiliz (CHZ)
CHZ is operated through the Chiliz platform and designed for sports and cybersports fans. Through investments in tokens, not only can people cheer for their favorite team, but they can also have a say in important decisions across the team. In other words, supporters are no longer silent spectators, but have the chance to vote for one event or another by taking part in the life of the team.
Chiliz provides blockchain-based tools for both sports and entertainment organizations to help them attract and monetize their audiences.
Voting takes place on the Socios.com platform, where usually the players for a match are put to a vote, including the decision to buy or sell a player. The platform is used by many major soccer and cybersports teams. Moreover, thanks to the use of blockchain, voting is fair and independent. Chiliz developers made sure that no one can affect the outcome of the vote on their own, no matter how many tokens you have in your hands.
The modern sports and cybersports industry is arranged in such a way that fans lack any power to determine the future development of their favorite team. This is actually a unilateral relationship, with fans just watching the club’s performances. At most, you can passively participate in the life of the team by buying merchandise, tickets, or expressing your support in other ways.
Flow Dapper Labs (FLOW)
FLOW is the native currency of the Flow network, designed for staking and operating on the platform to pay transaction fees and get rewards.
FLOW implements the standard Flow Fungible Token interface, which also corresponds to all other fungible tokens in the network. This interface is powered by Cadence, Flow’s native smart contract programming language, making it easy to create applications that interoperate with FLOW.
Created by the CryptoKitties team, the Flow blockchain is the backbone for entire ecosystems of consumer applications, including games, collectibles, and the apps that interact with them.
Flow is built on a groundbreaking architecture that delivers the performance needed for mainstream applications without sacrificing decentralization or network segmentation. This means that Flow developers are able to create secure and composable applications that unlock new opportunities for billions of consumers around the world.
Conclusion
When investing in new coins, you keep an open mind on all the risks, because the chances of a coin remaining at the same price brackets or depreciating are sky-high.
This material is not a piece of financial advice and is for informational purposes only.
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