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.
Vite (VITE)
VITE is an Ethereum-based ERC-20 token developed on the eponymous platform. The token is intended for various purposes such as issuing new tokens, launching smart contracts, registering VNS (VeChain Naming Service) domain names and obtaining resource quotas. Moreover, these coins are used as incentives for users who serve as network nodes.
In addition to this native cryptocurrency, the platform also empowers users to issue their own tokens through a special feature known as Mintage transaction. The process of minting such tokens resembles the similar process seen on the Ethereum network, but in this case we observe quite a significant difference.
All of the newly-created tokens are stored within Vite and in the user’s account as well. Importantly, you do not need to write code for smart contracts, reducing potential security risks.
TROY (TROY)
TROY is a native token of the eponymous project which is built on Ethereum. It is mainly designed to facilitate P2P settlements.
The platform itself focuses on trading and managing digital assets. It also provides prosperous traders and institutional customers with brokerage services, supporting derivatives, spot and margin trading, as well as staking and lending capabilities.
TROY is forging a sustainable brokerage network providing tailor-made services directly to clients across the global market.
The platform is a full-fledged trading system acting as a digital exchange for the coin in question. Here users can both deposit and withdraw funds, conduct real-time trading, while also keeping track of the market. Basically, it is a dedicated sector of the exchange designed to perform transactions with the abovementioned cryptocurrency.
Shentu (CTK)
CTK is a Shentu Chain ecosystem’s native token serving there as a legal tender. It is also used to pay transaction fees, conduct staking in the network consensus, receive rewards for participating in the Security Oracle network, and to cast a vote during decentralized network management. Shentu Chain is a Delegated Proof-of-Stake (DPoS) blockchain built with the Cosmos SDK. It aims to act as the basis where blockchain infrastructure and decentralized applications can be built securely.
Shentu seeks to help blockchain projects become more safe by providing a foolproof means of activity tracking and a top security for their smart contracts. Shentu Chain delivers protection at all stages of your project, all the way from starting point to post-deployment. With native in-chain features including the previously mentioned Security Oracle, ShentuShield Reimbursement Pool, and a highly secure programming language (DeepSEA), Shentu is intended to safeguard various blockchain-based products at all stages of the development life-cycle.
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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