Promising coins #83 – a RevenueBot Editor’s Pick


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. 

Gnosis (GNO)

GNO is an Ethereum-based ERC20 token. This coin was issued under Gnosis, a decentralized blockchain platform that seeks to predict the outcome of events on the crypto market. The maximum total supply of GNO is 10 million tokens.

There exist two types of tokens used on the Gnosis platform – GNO itself and OWL. By using GNO, you can get OWL tokens. To obtain them, you must lock your GNO into a smart contract, which makes them non-transferable. The amount of OWL you get depends on the lock duration, as well as the total number of OWL tokens circulating on the market.

OWLs are used to pay the platform fees, and 1 OWL is always equal to 1 USD. There is also a token burning and token splitting mechanism developed here that limits the total supply of GNO, thereby increasing its value.

Gnosis, a foresights-based platform, is built as a decentralized application (dApp) and runs on the Ethereum. Gnosis provides an all-inclusive infrastructure layer that you can use to build your custom forecasting application.

The Graph (GRT)

GRT is an ERC-20 token that serves as the fundamental asset of The Graph blockchain and as an indexing protocol that manages queries to networks like Ethereum and IPFS. The token is used for staking, delegating, and paying for subgraph queries to indexers, curators, and delegates.

The Graph itself is an indexing protocol for dApps that allows developers to efficiently access blockchain data. Developers can build subgraphs that define how to receive, index, and serve blockchain data in a verifiable way.

The protocol is the core infrastructure for Web3, a necessary component for delivering decentralized applications with consumer-grade performance. Any user can create and publish open APIs (the abovementioned ‘subgraphs’) which make the data easily obtainable. Subgraphs can be composed into a global graph of all the world’s public information. This data can be later transformed, organized, and shared across applications for anyone to query with just a few keystrokes.

Fantom (FTM)

FTM is a core token of the Fantom network, designed to secure the network through staking, governance, payments and fees. Fantom was originally created as an Ethereum-based ERC-20 token, but then migrated to BEP-20. Nowadays, these tokens are utilized in other networks such as Polygon and Celo.

Fantom is a lightning-fast, highly scalable and completely secure. It is designed to push the boundaries of previous generation blockchain platforms. Fantom is restriction-free, fully decentralized, and open source.

Lachesis, its game-changing aBFT (Asynchronous byzantine fault tolerance) consensus mechanism, empowers Fantom to be much speedier and cheaper than older technologies, while also being extremely foolproof. Instead of centralizing all computing power and usage in one decentralized ledger, Fantom ecosystem users can deploy their own independent networks.

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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