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.
Balancer (BAL)
Balancer is an automated market maker (AMM) protocol designed to reduce cost and price slippage when trading various cryptocurrencies. It acts as a decentralized alternative to a conventional market maker providing liquidity for traded assets. The protocol can be triggered by various decentralized trading platforms to automatically determine the best stakes and trading prices using Smart Order Routing (SOR) technology.
BAL here is a native governance token that provides holders with the ability to vote on protocol updates, while also serving to reward liquidity providers (LPs).
Balancer itself is an exchange designed to trade ERC-20-tokens without using an order book. It runs on smart contracts and forms liquidity pools where trading takes place from. Balancer pools are highly liquid, allowing any participant to seamlessly exchange various amounts of crypto.
Syscoin (SYS)
SYS is a native token of the Syscoin platform focused on developing infrastructure solutions for business and make payments a lot speedier. The platform provides trustless interoperability with Ethereum ERC-20, asset & token microtransactions, and bitcoin-core-compliant security.
Syscoin’s one-of-a-kind Zero Confirmation Directed Acyclic Graph (“Z-DAG”) technology allows the network to process up to 60,158 transactions per second (TPS) while remaining decentralized and secure.
Using Syscoin Bridge, you can create cross-chain bridges to interact with other blockchains. The transaction cost of tokens & assets on the Syscoin platform is ridiculously low, making them perfect for a wide range of use cases such as performing transactions.
LTO Network (LTO)
LTO Network is an initiative seeking to create a network that facilitates collaboration and document sharing between multiple entities through decentralized solutions. The main goal of the platform is to automate agreements and legal document processing, thus aiming to reduce bureaucracy.
As for LTO, it is a native token designed to perform internal network settlements, participate in staking, and interact with project resources.
This hybrid blockchain provides a means of managing documents B2B. The public part of the blockchain acts as an independent notary, ensuring the transfer of event hashes rather than the documents themselves, while the private one is utilized to facilitate the docs handling.
LTO is a network that aims to optimize various business processes. Thanks to the project’s technological solutions, a great variety of companies can effortlessly establish convenient and mutually beneficial cooperation using distributed ledger technology.
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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