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.
KuCoin Token (KCS)
KCS is KuCoin crypto exchange’s native token, introduced back in 2017 as a KuCoin Shares profit sharing token that allows traders to benefit from the exchange.
It was issued as an ERC-20 token running on the Ethereum network and was supported by most Ethereum wallets. Later in 2021, it changed its smart contract address due to a functionality upgrade by renaming itself from “KuCoin Shares” to “KuCoin Token,” retaining the KCS ticker.
The total KCS issue has been set at 200 million, with a scheduled buyback and burnout until only 100 million KCS remain. Sooner or later, when the KuCoin decentralized trading solution is launched, KCS will become the default asset of KuCoin decentralized financial services, as well as being the token of KuCoin community governance in the future.
KuCoin has also announced that “Empowering KCS” will be a key priority of KuCoin and will build KCS as a killer product rather than a simple token, which is bound to further diversify the benefits that KCS holders can access. In the long run, KCS performs as the key to the entire KuCoin ecosystem. As DEXs and KuChain develop, the token will also evolve to become the main fuel and common token for future KuCoin decentralized products. Further details are likely to be published in the near future.
META TOKEN (META)
META token is used to transfer assets and pay transaction fees in the system. New META tokens are minted to incentivize governing bodies for helping to secure the network.
Metadium will implement a two-stage inflation schedule. The first stage involves ensuring the stability of the SPoA chain as its user base grows. The second one is intended to encourage a wider range of actions and the migration of users to a more advanced decentralized identification system. The governance system will include staking and settlement requirements for the first nine network governors, as well as voting rules and requirements, and a two-step process with a display of inflation data.
As the backbone of a distributed registry, the Metadium platform faces the well-known blockchain trilemma, in that the platform’s distributed ledger must choose two of three points: decentralization, security, and scalability.
Metadium is going to experience such a stage during which the consensus mechanism will resemble a resolved ledger with a pre-defined control structure that will be responsible for the security of the ledger. This approach was chosen since the wide adoption of blockchain infrastructure technologies is likely to depend more on performance and usability rather than decentralized consensus.
Tezos (XTZ)
Tezos is a blockchain platform that positions itself as a “new digital commonwealth” aimed at token governance through collaborative solutions. Improving the cryptocurrency is also at the mercy of the platform’s users. Tezos formalizes the governance of the blockchain, while the protocol is run by the stakeholders. The platform supports smart contracts and offers to create decentralized information systems on its basis.
Apart from smart contracts, the verification procedure is much easier and is administered mostly by network users. A unique Proof of Ownership consensus algorithm gives each stakeholder the opportunity to participate in validating transactions on the network and to be rewarded by the protocol for doing so.
The cryptocurrency Tezos appeared in 2014 in Switzerland. The developers are a married couple who own the company DLS, renowned for its software development. In 2017, the project raised more than $200 million in 2 weeks, which is an absolute record in the crypto market.
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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