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.
Livepeer (LPT)
LPT is an ERC-20 token used to coordinate, attract, and incentivize participants to make the Livepeer network as cheap, efficient, and useful as possible.
Livepeer is an Ethereum-based protocol. LPTs themselves are required to perform the work of transcoding and distributing video on the network.
Livepeer is creating a scalable Platform as a Service for developers who want to add live or on-demand video to their project. They also aim to increase reliability of video workflows.
Orbs (ORBS)
ORBS is an Ethereum-based ERC-20 token, designed for peer-to-peer payments within the Orbs network and rewarding delegators and validators who maintain the network security. The Orbs network is a public blockchain infrastructure intended for businesses that view trust as a competitive strategy.
The token is the only means of payment on the platform. The main purpose of ORBS is to enable users to pay infrastructure operators (Validators) for running the consensus layer, for execution of smart contracts and for consensus-based storage. ORBS also represents an asset that defines a flaw in the Proof-of-Stake ecosystems. The token is used to select validators that ensure network integrity as well as to participate in protocol governance.
The token is used to select validators that ensure network integrity as well as to participate in protocol governance. ORBS token issue volume amounts to 10 bln. ORBS token issue volume amounts to 10 bln. Network devs avoid creeping inflation in token supply through the use of such technology through which a number of other tokens have been created. Unlike other tokens, ORBS targets long-term performance through fees. To finance the network’s operations during the start-up phase, a capitalization pool was established. The said pool is designed to expand the ecosystem and provide PoS token rewards.
Secret (SCRT)
Secret is the native coin of the Secret Network, a decentralized network for private / secure computation. Nodes on the network (known as secret nodes) can perform generalizable computations over encrypted data, which allows smart contracts (known as secret contracts) to use private and sensitive data as inputs.
Secret Network is based on the Cosmos SDK and the Tendermint consensus mechanism. It is said the network is supported by several independent teams and organizations, including Enigma, Secret Foundation, Secretnodes.org, Chain of Secrets, and others. Apparently, this is some kind of joke. In reality, Secret Network is a L2 testnet of the long-standing Enigma project. CoinMarketCap at least makes it explicitly clear that even before exchange support goes live, users will already be able to independently exchange Enigma tokens (ENG) for Secret ones (SCRT) on the DEX dubbed SecretSwap.
As the blockchain creators say, the emphasis here is the privacy of all computations rather than just the transactions confidentiality. Developers may build decentralized, privacy-preserving so-called “secret apps” on this very network. Secret’s functionality to ensure privacy is critical for many areas including DeFi, Web3, machine learning, access control, and so on.
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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