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.
Oxen (OXEN)
Oxen is a secure payment system that provides privacy for the creation of various applications. The native coin, OXEN, is used for a wide spectrum of purposes, including purchasing domain names for Lokinet and the Session messenger, as well as conducting confidential transactions using Blink technology.
Oxen’s privacy package includes the following features:
- Session (a fully anonymous encrypted messaging service)
- Lokinet (a cutting edge low-latency onion router)
- Oxen Name System (ONS), a registration system that allows users to provably burn OXEN to purchase temporary or permanent usernames for Session (and Oxen wallets), and domain names for Lokinet services.
The idea behind the project is to deliver a wide range of tools and services based on the native coin. These are designed to empower users and developers worldwide to leverage the decentralized blockchain network in order to achieve the highest levels of privacy and security within work-related, gaming, and day-to-day activities.
WAX (WAXP)
WAXP is an Ethereum-based token designed specifically for use within the WAX (World Assets exChange) platform.
The platform itself was created to meet the needs of gamers, allowing them to exchange virtual items. According to the platform’s creators, the main goal is to create a versatile space for conducting trading operations using digital items and services.
The project kicked off in 2017, and its concept was inspired by the OPSkins, another trading platform, where various in-game virtual items are being sold. What makes this platform attractive is the use of blockchain and smart contracts, thus ensuring the maximum security, lightning-fast speed and flexibility in the exchange of virtual goods globally.
AChain (ACT)
ACT is a native token of the AChain designed for smart contract payments, charging transaction fees, and internal settlements, among others.
Here users are able to create their own tokens, smart contracts and dApps. Developers are building a global blockchain platform with an eye on securities transactions and data sharing.
In terms of functionality, Achain is comparable to Ethereum, but differs by using the advanced RDPOS (Reputation-based Delegated Proof-of-Stake) consensus algorithm and thus solving the network bandwidth issue. Transaction rate can be as high as 1,000 per second if not more.
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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