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. In this overview, RevenueBot highlights a few coins to keep track of.
Tellor (TRB)
Tellor is a blockchain project that operates with decentralized object-relational databases (Oracle) for use in decentralized finance (DeFi).
By using Tellor, it is easier to instantiate open source projects that require the use of data storage/utilization within smart contracts.
Thanks to the such an oracle, the capabilities of smart contracts based on the Ethereum and other blockchains are expanding. What makes this possible is the incorporation of Tellor Tribures, a decentralized off-chain solution that streamlines the storage and handling of data.
Tellor was founded back in March 2019, took part in Binance Labs Incubation Program and launched on mainnet in August of the same year. The concept behind the platform is to provide automatic data uploading to smart contracts off-chain.
Celsius (CEL)
CEL is a utility token for the Celsius Network platform, which claims to be a global crypto platform for lending and borrowing.
Using the Celsius Network you can access multiple services. For instance, this includes depositing digital assets in a Celsius wallet and taking interest, applying for loans with digital assets as collateral, and transferring digital assets to other users through the company’s CelPay feature.
The CEL token lets users use various tools mainly to benefit from more favorable deals and features when using Celsius services, such as higher rates for interest income, lower rates for crypto-backed loans and priority status for customer support.
Verge (XVG)
Verge (XVG) is one of those altcoins to provide users with maximum reliability and anonymity of transactions (along with Dash, Monero and Zcash). It is an open-source decentralized blockchain system where anyone can contribute to the development of the network.
The project provides anonymity and privacy through the simultaneous use of TOR and I2P tools. Moreover, XVG acts as a means of transferring value within the system. Mining is performed using the Proof-of-Work algorithm.
What’s more, Verge has been conceived for day-to-day use. It seeks a way to allow individuals and businesses alike to access a fast, cost-effective, and fully decentralized route to direct transactions while respecting the anonymity of both parties. Its purpose is also to remain flexible thanks to a certain option which allows you to either choose to be anonymous or not. The payments can take place on a large scale between traders as well as on a smaller one, everyone gets to find their own account.
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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