Decentralization is the way forward for the cryptocurrency community today and there are a lot of platforms boasting about theirs. Knowing the right one to put your faith in is very important, as it can guarantee your data security and profit-making potential.
The new but promising Stakenomics (STAK), the old giant – Ethereum (ETH), and the Metaverse overlord – Decentraland (MANA): here are what makes these cryptocurrencies kings in their domain.
Stakenomics (STAK) is a token that was designed to create an ecosystem where its users can enjoy a fully decentralized platform for token exchange. As a token built on the Binance Smart Chain (BSC), the scalability of the Stakenomics token blockchain has been improved so that smart contracts can easily be created to create decentralized applications (dApps).
Stakenomics (STAK) offers highly thorough-put, fast transactions, and reasonable, predictable fees. It allows firms and users to utilize blockchain networks to their full potential.
The goal of the Stakenomics (STAK) token ecosystem is to raise a strong security structure that allows its users to process public and private transactions with security, scalability, and the fulfillment of specific business requirements in the cryptocurrency industry.
Stakenomics (STAK) takes security seriously and will take great measures to protect the transactions on a user application, data center, and network level. With innovative and revolutionary technologies in the field of digital assets, entrepreneurs are creating blockchain networks, launching smart contracts, and re-imagining and re-designing digital privacy and the internet's architecture, all to make centralized systems more distributed.
The Stakenomics (STAK) token utilizes the Proof-of-Work (PoW) and the Proof-of-Stake (PoS) systems. The Proof-of-Work (PoW) system is one where there is a competition between computers to solve complex puzzles first.
Since the energy required to solve these puzzles is usually considered the digital equivalent of the real-world process of mining resources from the earth. This process is also often referred to as mining.
In the Proof-of-Stake (PoS) system, validators (miners) are selected to find a block according to the number of tokens they possess, instead of arbitrary competitions among miners to determine which node can add blocks.
A user's stake (amount of owned cryptocurrency) replaces the miner's work in the point-of-work systems. Participants in the system must instead, spend money and financial resources on the network.
The Stakenomics (STAK) token runs on a Proof-of-Stake (PoS) platform to fight current challenges in decentralization and global blockchain technology through the Binance Smart Chain (BSC) ecosystem. Stakenomics will be governed by the users and the community and decisions will be made using a majority vote system.
The Stakenomics token DAO (decentralized autonomous organization) is also a platform that would allow users to access the Stakenomics decentralized exchange (DEX), which would allow them to carry out DeFi (decentralized finance) transactions.
Staking – These are the rewards or incentives given to participants when users who stake their cryptocurrency are selected to confirm transactions. It helps more users to earn more cryptocurrency, and interest rates may vary for every network.
Burning – This is when tokens are removed (or reduced) from market circulation.
These removed coins would be sent to an encrypted wallet address, and once in the wallet, the coins become inaccessible. Therefore, when tokens are reduced, the overall available supply would reduce due to burning and the token price would increase.
1. They are faster and have more secure, traceable, cost-effective, transparent, and automated actions with smart contract transactions, and security and privacy of users' protected data.
2. Low, stable, and predictable transaction fees.
3. Stakenomics token holders can construct their validator nodes using the Proof-of-Stake (PoS) platform.
4. Stakenomics (STAK) token solves the issues of security, decentralization, and scalability to allow blockchain technology to perform up to par.
5. Stakenomics' learn and earn system would allow users to watch videos and read about cryptocurrency to earn rewards from them.
There are currently 10 million Stakenomics tokens in available supply and the allocation is as follows:
1 million (10%) for staking.
5 million (15%) for the team.
1 million (10%) for advisors.
5 million (15%) for liquidity.
2 million (20%) available for public sale.
5 million (25%) available for private sale.
500,000 (5%) for the community.
Once the Stakenomics (STAK) token is launched, it would become a large achievement in further upgrading the Stakenomics solution. Using Stakenomics tokens would be hassle-free and secure, and the token would potentially meet the new users' expectations.
Ethereum (ETH) has been a big name in the cryptocurrency community for a long time now.
Second, only to Bitcoin (BTC), Ethereum (ETH) is a decentralized global software platform powered by blockchain technology.
Ethereum (ETH) is also an open-source blockchain that makes smart contract scripting as easy as it can get. Ethereum (ETH) can be used to create secured digital technology, and its token (Ether) can be used by users as a method of payment for work done on the blockchain.
Ethereum (ETH) began in the early cryptocurrency days and its first version was completed in 2014 by Ethereum (ETH)'s founder – Vitalik Buterin, in collaboration with GmbH – a Swiss development firm.
Ethereum's (ETH) ICO raised an impressive sum of $18 million from different investors and from there, the first network of Ethereum (ETH) miners and shareholders was created.
On the Ethereum (ETH) platform, with new functionalities and applications introduced, developers can build decentralized applications (Dapps) that function on blockchain networks. Dapps are next-generation programs that are designed solely for the reason to function within a decentralized network (like blockchain networks, Tor, and Distributed Ledger).
The Dapps sector of blockchain networks is one of the fastest growing areas and is providing the world with a myriad of new opportunities. Apart from this, there's still a combination of other factors that have led to Ethereum (ETH)'s popularity in the cryptocurrency market.
Financial tools, games, complex databases, etc. are already running on the Ethereum (ETH) blockchain network and its future is only limited by the developers' imaginations.
Ethereum (ETH), just like Bitcoin (BTC), utilizes the modified PoW (proof-of-work) consensus mechanism. Although Ethereum (ETH) is usually called a cryptocurrency, this is quite inaccurate because Ethereum (ETH) is just the ecosystem/platform that the Ether cryptocurrency functions on.
Ether is meant to compensate validators (miners) for performing Ethereum Virtual Machine (EVM) computations. The EVM is a virtual stack that is embedded inside each complete Ethereum (ETH) node and it simplifies the process of creating Dapps. Every Ethereum (ETH) network node runs on an EVM instance, which allows them to agree on performing the same instructions without human intervention.
Transactions on the Ethereum (ETH) platform can be paid for with Ether, which serves 2 main purposes – prevents bad actors from clogging up the network with unnecessary transactions, and Ether is an incentive for users who contribute resources and validate mining transactions.
Ethereum (ETH) has already cemented its position as a giant in the cryptocurrency community and everyone looks forward to their future upgrades.
Decentraland (MANA) is a blockchain-based metaverse (an immersive, virtual and interactive 3D world made up of other 3D worlds) that works on a play-to-earn basis. On the Decentraland (MANA) metaverse, users would be able to explore and interact with other players in real time.
Users would also be able to purchase digital plots to develop into their own micro-gaming experiences. Since its inception, the project has seen increased growth recently as the number of people exploring further into the metaverse is on the increase.
Decentraland (MANA) initially started as a simple and pixelated 2D grid after its launch in 2017. Then, a plot of land was going for a mere price of $20, but now, the properties in the Decentraland (MANA) metaverse are selling for the higher millions. There was even a recorded sale of $2.4 million this year.
The Decentraland (MANA) ecosystem solves a lot of problems faced by gamers – like allowing the gamer to take real ownership over their digital asset. In standard gaming, gamers lose all the time and effort invested into games, and the countless hours and funds spent on upgrades are never recovered.
Decentraland (MANA), though, allows players to earn their title (Decentraland title) and unlock the ability to convert their digital assets and funds into other cryptocurrencies such as Ethereum (ETH) through DEXs (decentralized exchanges). Decentraland (MANA) was made to be simple and to ease blockchain adoption for many, through its game-like principle. It allows anyone to join the Decentraland (MANA) world and regardless of location, allows players to communicate, play and earn rewards.
Decentraland (MANA) is an open-source protocol, therefore, has had its code vetted by members of its community and external auditors from third parties, providing gamers with a secure method to start and monetize content in the form of non-fungible tokens (NFTs).
Decentraland (MANA) operates on the Ethereum (ETH) blockchain and capitalizes on its functionality and security to provide a unique gaming experience to the users' community. Decentraland (MANA) assets are kept on the Ethereum (ETH) MainNet where tampering, censoring, or altering them would be easy for users. "Genesis City" was the first community on the Decentraland (MANA) platform, and it comprised 90,601 parcels of land, and each land was a user-relevant NFT on its own.
Decentraland allows players to build and create custom environments, applications, and marketplaces for the pleasure of sharing their creativity with the community while earning profits. Objects created and used to pull in crowds on the Decentraland platform can also be used to secure earnings or rewards in the MANA token.
The MANA is the main utility token for the Decentraland ecosystem and Decentraland's MANA token is an ERC-20 token that can be traded on any Ethereum (ETH)-based DEXs (decentralized exchanges). Presently, 1 billion MANA tokens are in circulation.
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. 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. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.