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.
Casper (CSPR)
CSPR is the Casper Network’s native token, used for paying transaction fees and compensating nodes for processing power and throughput, as well as for incentives to validators, who process network transactions and validate blocks on the network. The consensus mechanism governing the creation or addition of new blocks is the well-known Proof-of-Stake.
Casper Network represents the first blockchain based on the Casper CBC specification. The protocol is designed for enterprise deployment with a focus on flexible privacy permissions, low latency and security. Moreover, Casper empowers enterprises to choose between shared, permission-based and private network iterations, depending on their privacy preferences, without compromising security or performance. This led many Web3 businesses and teams to seek out a partnership with Casper.
Thanks to its forward-looking architecture, Casper is designed so that the platform is constantly evolving to meet the changing needs of its users and is as accessible as possible to developers of all skill levels. According to the white paper, Casper is streamlined to meet the needs of both the enterprise and the developer. Casper’s mission is to usher in a new era for Web3, as demand for intuitive, interconnected services continues to grow across the board. Casper does so by solving the adoption trilemma: offering enterprise-grade security, scalability and decentralization all within the same blockchain protocol.
Keep3rV1 (KP3R)
KP3R is a native token for the Keep3r network designed for the governance and incentivizing of Keepers. The project was first announced on October 22, 2020. As of October 28, 2020, it went into beta mode on the Ethereum mainnet. The network can be characterized as a job association for those who post Keeper jobs to further complete the tasks required, along with incentives for all interested parties.
Keep3rV1 is a decentralized platform designed to facilitate the coordination between projects that need to source outside development operations and those who can provide those required services. Essentially, the project serves as a job board that facilitates the interaction between job posters, such as decentralized finance protocols, and job executors, known as Keepers. The tasks performed by Keepers range from submitting and calling transactions on-chain to completing complex operations off-chain.
Keep3rV1 has the added benefit of allowing for the development of dApps that would otherwise not be possible, including MetaWallet — a smart-contract wallet that does not require transactions or gas fees — and Unihedge — an impermanent loss mitigation system.
WOO Network (WOO)
The WOO Network (WOO) cryptocurrency is a utility token used for governance, providing collateral for borrowing, staking, and fee reduction, while also being deeply embedded in WOO’s CeFi and DeFi products and services with many add-ons, rebates, profits, and opportunities for administration. The WOO token is available on several blockchains thanks to bridges such as BNB Chain, Ethereum, Avalanche, Polygon, Solana, Arbitrum, Fantom and NEAR. It is embedded in well-known DEXs in various networks: Bancor, dYdX, 1Inch, SushiSwap, Uniswap, PancakeSwap, QuickSwap and SpookySwap.
WOO Network is a deep liquidity network that connects investors, exchanges, institutions and DeFi platforms with democratic access to liquidity and trading practice at lower or zero cost. WOO Network provides services as part of both the centralized WOO X exchange and the decentralized WOOFi exchange. WOO Network offers the WOO Trade infrastructure for corporate clients, enabling partner exchanges to integrate WOO Network liquidity into their services via APIs.
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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