Cryptocurrencyis at the forefront of the technological sphere and has grown in relevance over the past couple of years. It is safe to say that the market is showing no sign of slowing down, with over 18,000 crypto tokens currently in existence. Two blockchains that have been popular since their emergence into the coin market are Ethereum (ETH) and Solana (SOL). Despite the recent crypto crash which has caused both currencies' values to decline, they still hold a solid market capitalisation, being positioned second and ninth on coinmarketcap.com.
However, due to the recent crash, many people are looking to divert from the bigger blockchains and invest in upcoming networks. One blockchain network that has had an impressive presale run is FIREPIN Token (FRPN) – selling 30,000,000,000 FRPN thus far.This article will explore the unique selling points of Ethereum (ETH), Solana (SOL) and FIREPIN Token (FRPN)– whilst evaluating how the latter could potentially reach the level of success as the two blockchain veterans.
FIREPIN Token (FRPN) now only has seven days until its official release (May 27) and has had a lot of anticipation built around it. It has been marketed as a decentralised autonomous organisation (DAO) that aims to build toward a solid community-driven online universe. Furthermore, they exclaim their mission to use treasury funds allocated from users towards developing NFT gaming.
Their DAO feature permits users to vote for the decision-making of the blockchain's future and progression. This aspect could potentially fill a void in an oversaturated market, as token holders will be allowed to contribute to the development of NFT gaming, as the network is self-governing. They also incorporate a play-to-earn (P2E) system that allows participants to potentially earn crypto while playing games. With only a few days left of its presale stage, it will be interesting to see how FIREPIN Token does once it officially launches.
Solana (SOL) has colloquially been known as the 'Ethereum Killer' amongst crypto experts, due to its highly reputable speedy transactions. The currency relies on blockchain technology's permissionless nature to supply decentralised finance (DeFi) solutions. Additionally, it is the first blockchain network to introduce the Proof-of-History (PoH) consensus to the crypto market – a system that provides token holders with a reliable ordering of transactions recorded to the ledger, to resolve the problem of tracking events and times.
Although the market capitalisation of Solana has decreased by approximately 1.68%, its volume has increased by 15.20% within the past twenty-four hours according to coinmarketcap.com, showing that there is still a high demand for the token. Despite Solana recording steep losses within the past few days, it has already established itself as one of the top blockchain networks in the world. Therefore, counting SOL out of your future investments would not be wise.
What you have all read and heard about Ethereum's decline over the last week has most likely be true. The veteran blockchain has suffered significantly, losing an approximate value of 20% with its price dropping below the $2,000 mark, which is held as a milestone, according to The Independent. However, it has built itself a solid foundation in the crypto market through pioneering the use of smart contracts – a program that runs when predetermined conditions are followed. The purpose of having smart contracts is to remove the need for an intermediary when conducting transactions and exchanges.
Ethereum (ETH) has also made a name for itself by having one of the most expansive ecosystems in the crypto market. There are currently close to 3000 decentralised applications and 120 million tokens that run on Ethereum. According to the blockchain's co-founder, Gavin Wood, Ethereum was designed to be "one computer for the entire planet" – providing a platform that can make any program robust and resistant to censorship. Despite its recent decline, Ethereum (ETH) still has a market capitalisation of over $230 billion, proving that its dominance will not fall rapidly anytime soon.
Website: https://firepin.io/
Telegram: https://t.me/FIREPINOFFICIAL
Join Presale: https://presale.firepin.io/login
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.