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.
Kusama (KSM)
Kusama is a scalable network of specialized blockchains built using Substrate (a framework for building customized blockchains) and nearly the same codebase as Polkadot. KSM is intended for the following: staking, receiving rewards, paying fees and making proposals.
The network is basically an development landscape for teams who want to progress quickly and innovate, or prepare for deployment on Polkadot. Kusama serves as a testing ound, allowing teams and developers to build and deploy a parachain or try out Polkadot’s governance, staking, nomination and validation functionality in a real environment.
Without a network like Kusama, there is no reasonable way to fully grasp the potential dangers that lie ahead, so this is why many projects choose Kusama to build dApps.
DigiByte (DGB)
DGB is an open-source decentralized coin that was created as an alternative to Bitcoin, aiming to address the major flaws of the first-ever cryptocurrency.
DigiByte itself is a rapidly growing global blockchain with a focus on cybersecurity for digital payments & decentralized applications. The focus was on the most secure and reliable way to store data, decentralization and transaction speed.
DigiByte uses 5 different independent algorithms to ensure transaction processing within the network, which in turn contributes to increased decentralization of the currency. Apart from that, it should be noted that DGB is the first altcoin using the SegWit technology in 2017.
Flux (FLUX)
FLUX is the native coin of the Flux ecosystem, a decentralized cloud infrastructure designed to serve as a scalable and trustless foundation for Web3 and dApp projects. Users can stake FLUX as collateral to run nodes, spend it to purchase computing power, settle transactions, among others.
Formerly dubbed ZelCash, Flux stands as one of the next-gen scalable projects running on the Ethereum. With Flux, you just need to deploy and manage your applications on multiple servers simultaneously. In fact, the ecosystem here provides full-fledged decentralized computing services and blockchain-as-a-service (BaaS) solutions, offering a compatible decentralized development environment.
Flux was launched as an alternative to cloud infrastructure providers such as Amazon Web Services (AWS) and Google Cloud. What’s more, Flux aims to deliver the most powerful, technologically advanced, and decentralized cloud infrastructure for Web 3.0.
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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