List And Description Of The Most Liquid Crypto Assets

eCash (XEC)

eCash (XEC) is a cryptocurrency and payment system created by the non-profit eCash Foundation. They focus on developing privacy-focused technologies and have designed eCash to be fast and low-cost with a focus on cross-border transactions.

 

The eCash token (XEC) is the native cryptocurrency of the eCash network and whilst it uses the same decentralized blockchain principles as Bitcoin, unlike Bitcoin it also uses the Zerocoin protocol to enable increased privacy. Using these advanced cryptographic techniques, eCash can provide anonymous transactions by hiding the identities of the sender and receiver, as well as the amount of the transaction.

 

The eCash Foundation also places a strong emphasis on community involvement and education, with the goal of creating a more decentralized and democratic financial system that is accessible to everyone. The foundation has created a number of educational resources, including a whitepaper and developer documentation, to help users and developers better understand the eCash platform and its underlying technology.

 

eCash also uses a decentralized governance model to ensure that decisions about the direction of the platform are made by the community of users and stakeholders. This is done through a system of masternodes, which are nodes on the network that have a significant amount of XEC tokens staked and are responsible for making decisions on behalf of the network.

Enjin Coin (ENJ)

 

Enjin Coin (ENJ) is a cryptocurrency that is used to access the Enjin platform.

 

The Enjin Platform is a decentralized, blockchain based platform for creating, managing, and trading virtual goods. It is designed and built on the Ethereum blockchain to enable developers and businesses to create, manage and trade virtual assets using smart contracts.

 

This is facilitated using Enjin Coin, the native cryptocurrency of the Enjin platform which is a medium of exchange in the Enjin ecosystem and also can be used to pay for transaction fees on the platform.

 

Enjin Coin is also used as a governance token as it allows holders to vote on proposals to upgrade the protocol or to change the fee structure. Like other cryptocurrencies, it is available for trading on various cryptocurrency exchanges and can be stored in a digital wallet like other cryptocurrencies.

EOS (EOS)

 

EOS (EOS) was launched in 2018 by Block.one. It is a decentralized, open-source blockchain platform which uses a consensus algorithm called Delegated Proof of Stake (DPoS) to validate transactions and create new blocks on the EOS blockchain.

 

EOS has its own programming language called WebAssembly (WASM) with the aim of making it easier for developers to build and deploy applications on the EOS blockchain. 

 

A key feature of EOS is performance and scalability with the platform designed to process millions of transactions per second.

 

The EOS token is used to access and pay for resources required to run dApps on the network and also confers rights for holders to vote on proposals to upgrade the protocol or to change the fee structure.

 

EOS is available for trading on various cryptocurrency exchanges and can be stored in a digital wallet like other cryptocurrencies.

Ethereum (ETH)

 

Ethereum (ETH) is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (dApps). It was launched in 2015 by Vitalik Buterin, a programmer and co-founder of Bitcoin Magazine.

 

The Ethereum blockchain is similar to the Bitcoin blockchain, but it has additional features that enable the creation and execution of smart contracts. Smart contracts are self-executing contracts with the terms of the agreement written directly into lines of code. They allow for the automation of complex financial transactions, and can be used to create decentralized applications (dApps) that run on the Ethereum network.

 

Despite falling in price in the past 6 months, Ethereum still has its own fanbase with high expectations.   Solidity is ethereum's own programming language, which is used to write smart contracts. This allows developers to create their own decentralized applications (dApps) and to build decentralized autonomous organizations (DAOs) on the Ethereum blockchain.

 

The Ethereum network also has its own cryptocurrency, called Ether (ETH), which is used to pay for the resources required to run dApps on the network, such as storage and computational power. It is also used as a store of value, a medium of exchange and a governance token, allowing holders to vote on proposals to upgrade the protocol or to change the fee structure.

 

Ethereum is available for trading on various cryptocurrency exchanges and can be stored in a digital wallet like other cryptocurrencies.

See exchage data for Ethereum here.

Ethereum Classic (ETC)

 

Ethereum Classic (ETC) is a decentralized, open-source blockchain platform. It is a fork of the Ethereum blockchain which was created in 2016 following a hack that resulted in the loss of a large amount of Ether (ETH).

 

As a result of this, Ethereum blockchain - but it does not include the changes made to the Ethereum blockchain meaning that Ethereum Classic maintains the original blockchain and its immutability principle, where all transactions are irreversible.

 

Ethereum Classic enables the creation of smart contracts and decentralized applications (dApps) and has its own programming language, called Solidity, which is used to write smart contracts.

 

The network also has its own cryptocurrency, Ethereum Classic (ETC), which is used to pay for the resources required to run dApps on the network, such as storage and computational power.

 

The currency can be used as a store of value, a medium of exchange and a governance token, allowing holders to vote on proposals to upgrade the protocol or to change the fee structure.

 

Ethereum Classic is available for trading on various cryptocurrency exchanges and can be stored in a digital wallet like other cryptocurrencies.

EthereumPoW (ETHW)

 

EthereumPoW (ETHW) states that they are staying with the Proof-of-Work (PoW), the consensus algorithm used by Bitcoin and Ethereum's early versions whilst the Ethereum blockchain is in the process of shifting to a Proof-of-Stake (PoS).

 

In this case, Proof-of-Work is a consensus algorithm that requires users to solve complex mathematical equations to validate transactions and create new blocks on the blockchain. 

 

This process is called mining, and it requires a significant amount of computational power - and high energy consumption. 

 

EthereumPoW is, at present, not really a cryptocurrency or blockchain project.

Fantom (FTM)

 

Fantom (FTM) is a decentralized, open-source blockchain platform that aims to provide a fast, scalable and secure infrastructure for the development of decentralized applications (dApps) and decentralized finance (DeFi) projects. It was launched in 2019 by the Fantom Foundation, a non-profit organization based in South Korea.

 

Fantom uses a unique consensus algorithm called ""Lachesis Protocol"", a form of directed acyclic graph (DAG) based consensus which allows the network to process thousands of transactions per second and confirm them in under 2 seconds.

 

This speed and power makes Fantom well-suited for the development of high-performance dApps and DeFi projects.

 

Fantom also has its own programming language called ""Fantom Opera Chain"" which is designed to enable developers to create and deploy dApps on the network quickly and easily.

 

The Fantom network also has its own cryptocurrency, called FTM, which is used to access the network and pay for the resources required to run dApps on the network, such as storage and computational power. It is also used as a store of value, a medium of exchange and a governance token, allowing holders to vote on proposals to upgrade the protocol or to change the fee structure.

 

FTM is available for trading on various cryptocurrency exchanges and can be stored in a digital wallet like other cryptocurrencies.

 

 

FEI USD (FEI)

 

The FEI USD (FEI) is a stablecoin cryptocurrency token that was launched in April 2021. It was created by the decentralized finance (DeFi) platform, called Fei Protocol, which aims to create a stablecoin that is algorithmically stabilized against market fluctuations.

 

FEI is designed to maintain its value at $1 USD and is backed by a basket of crypto assets, such as Ethereum and USDC. The protocol uses a mechanism called the "Direct Incentive Mechanism (DIM)" to achieve price stability, where users can buy and sell FEI and receive incentives to bring the price back to the $1 peg in times of market volatility.

 

FEI has gained popularity in the DeFi space due to its unique mechanism and its ability to avoid relying on centralized intermediaries for price stabilization. However, like any cryptocurrency, FEI is subject to market fluctuations, and its value may not always remain stable. 

Filecoin (FIL)

 

Filecoin (FIL) is a decentralized, open-source blockchain platform that aims to provide a decentralized storage network. The platform utilizes the Interplanetary File System (IPFS) protocol, which allows users to rent out their unused storage space and get paid in Filecoin. Filecoin was launched in 2020 by Protocol Labs, a research, development, and deployment lab focused on improving the Internet.

 

The Filecoin network allows users to store and retrieve files in a decentralized manner, while providing a market for buying and selling storage space. Miners on the network are responsible for storing files and are rewarded with FIL for providing storage services. The network also uses a consensus algorithm called "Proof-of-Replication" (PoRep) which ensures that files are stored redundantly and can be retrieved even if some storage providers go offline.

 

Filecoin also has its own programming language, called Lotus, which is used to write smart contracts and decentralized applications (dApps) that run on the network.

 

The Filecoin network also has its own cryptocurrency, called FIL, which is used to pay for storage on the network and as a reward for miners. It is also used as a store of value, a medium of exchange and a governance token, allowing holders to vote on proposals to upgrade the protocol or to change the fee structure.

 

FIL is available for trading on various cryptocurrency exchanges and can be stored in a digital wallet like other cryptocurrencies.

 

FTM is available for trading on various cryptocurrency exchanges and can be stored in a digital wallet like other cryptocurrencies.

Flow (FLOW)

 

Flow (FLOW) is a decentralized, open-source blockchain platform that aims to provide the infrastructure for the development of decentralized applications (dApps) and decentralized finance (DeFi) projects. 

 

Launched in 2020 by Dapper Labs, Flow uses a unique consensus algorithm called ""Flow Consensus"" which is designed to enable high-performance and scalability while maintaining security. It is also designed to enable the creation of a wide range of digital assets, such as non-fungible tokens (NFTs) and digital collectibles.

 

Flow also has its own programming language, called Cadence, which allows developers to create and deploy dApps on the network quickly and easily.

 

Its own cryptocurrency is called FLOW and this is used to access the network and pay for the resources required to run dApps on the network, such as storage and computational power. It is also used as a store of value, a medium of exchange that provides holders with governance and voting rights on the development of the protocol.

 

FLOW is available for trading on various cryptocurrency exchanges and can be stored in a digital wallet like other cryptocurrencies.

Frax Share (FXS)

 

Frax Share (FXS) is a decentralized cryptocurrency built on the Ethereum blockchain.

 

A stablecoin, it is pegged to the value of the US dollar and the main goal, as with other Stablecoins, is to provide a stable, decentralized alternative to traditional fiat currencies that can be used for transactions, trading, and as a store of value. 

 

Frax Share is created by burning a fractional reserve of other cryptocurrencies, which is intended to reduce volatility and maintain the peg to the US dollar.

Gala (GALA)

 

Gala (GALA) is a decentralized cryptocurrency built on the Terra blockchain. 

 

A stablecoin, it is pegged to the value of the US dollar with a goal to provide a stable, decentralized alternative to traditional fiat currencies that can be used for transactions, trading, and as a store of value. It is a community-driven decentralized finance project and aims to be used in the gaming industry as well.

 

Gala also aims to be used as a medium of exchange in the Gala Games ecosystem where it is the in-game currency. Gala is created by locking up other cryptocurrencies, which is intended to reduce volatility and maintain the peg to the US dollar.

GateToken (GT)

 

GateToken (GT) is a cryptocurrency based on the Ethereum blockchain. It was initially designed to be used as a medium of exchange on the Gate.io cryptocurrency exchange.

 

With the total supply of GT is fixed at 200 million tokens, it can be used to pay for trading fees on the exchange platform as well as voting for the listing of new coins and tokens.

 

Given the fixed token level, GT's value is influenced by the demand for the token on the platform and the overall performance of the cryptocurrency market.

Gemini Dollar (GUSD)

 

Gemini Dollar (GUSD) is a stablecoin cryptocurrency which is pegged to the value of the US dollar. 

 

Issued by the Gemini Trust Company in New York, it is fully collateralized by US dollars held at the State Department Federal Credit Union (SDFCU). 

 

GUSD is built on the Ethereum blockchain and can be used for trading, remittances, and as a store of value. It aims to provide a stable alternative to other cryptocurrencies.

GMX (GMX)

 

The GMX (GMX) cryptocurrency token is the native token of the GMX platform, a decentralized options trading platform built on the Ethereum blockchain. GMX stands for "Golem Network Token Migration," which refers to the process of migrating the Golem Network Token (GLM) to the GMX platform.

 

GMX allows users to trade options through an Automated Market Maker (AMM) model to facilitate trading - this essentially means that users can trade options without the need for a counterparty.

 

The GMX platform has gained quite a bit of interest and attention in the DeFi space due to its unique approach to options trading and its ability to provide a decentralized, permissionless trading experience. 

 

The GMX token is used for governance, allowing users to vote on proposals related to the development and management of the platform and also as a liquidity provider - that is providing liquidity to the platform's pools and earning fees in return.

Hedera (HBAR)

 

Hedera Hashgraph (HBAR) is a cryptocurrency based on Hedera Hashgraph technology - a new type of distributed ledger which aims to provide faster and more secure transactions compared to traditional blockchain technology.

 

The Hedera network has been designed to focus on increased speed and security when compared to existing blockchain networks. 

 

The network is run by a group of trusted organizations, called the Hedera Governing Council, which aims to ensure the security and stability of the network.

 

HBAR cryptocurrency can be used for a variety of purposes from micropayments to  digital identity and smart contract execution. 

 

The total supply of HBAR is capped at 50 billion tokens.

Helium (HNT)

 

Helium (HNT) is a cryptocurrency which was introduced as a means of payment on the Helium Network -  a decentralized wireless network specifically for Internet of Things (IoT) devices.

 

The Helium Network uses a unique consensus algorithm called the ""Proof of Coverage"" (PoC). This allows anyone to participate in building and maintaining the network by using their unused bandwidth and storage as a mining resource. Those Miners are then rewarded with HNT for their contributions to the network. 

 

The total supply of HNT is capped at 65 billion tokens and these HNT can be used to pay for access to the network and to vote on protocol changes.

Holo (HOT)

 

Holo (HOT) is a cryptocurrency that is used as a means of payment on the Holochain network, a decentralized platform for building and deploying distributed applications (dApps). 

 

Holochain uses a unique data structure called a ""DHT"" (Distributed Hash Table) which aims to provide more efficient and scalable processing of data compared to traditional blockchain technology. 

 

The Holochain network is designed to provide developers with a more efficient and cost-effective way to build and deploy dApps. HOT can be used to pay for hosting services on the network, as well as to vote on protocol changes. The total supply of HOT is capped at 177 billion tokens.

Huobi Token (HT)

 

Huobi Token (HT) is a cryptocurrency based on the Ethereum blockchain issued by Huobi Global, a digital asset exchange.

 

The total supply of HT is fixed at 500 million tokens leading their value to be influenced by both demand for the token on the platform and the wider performance of the cryptocurrency market.

 

The Token is used as a medium of exchange on the Huobi Global platform to pay for trading fees and holders can also vote for listing new coins and tokens.

ImmutableX (IMTX)

 

Immutable X (IMTX) is a non-fungible token (NFT) scaling solution built on the Ethereum network and enables users to trade and transfer NFTs by moving the storage off the Ethereum blockchain.

 

This is achieved by moving them onto a separate layer known as the Immutable X layer which has been built to handle the storage and transfer more efficiently whilst maintaining the same level of security as the Ethereum blockchain. 

 

The Immutable X token (IMTX) is the native token of this network and can be used to access and pay for transactions and usage. Holders can also vote on governance proposals.

Internet Computer (ICP)

 

Internet Computer (ICP) is a cryptocurrency which is used as a means of payment on the decentralized platform, Internet Computer.

 

The platform uses a new type of consensus algorithm called ""Correct-by-Construction"" (CBC), the aim of which is to provide more efficient and secure data processing when compared to traditional blockchain tech.

 

The platform allows developers to build and deploy decentralized applications (dApps) and to host websites and the ICP token (which is capped at 1 Billion tokens) can be used to pay for access to the network, as well as to vote on protocol changes.

IOTA (MIOTA)

 

The IOTA (MIOTA) cryptocurrency which was designed to provide a secure and efficient way to transfer value and data for the Internet of Things (IoT) system.

 

Rather than using blockchain it applies a different distributed ledger technology called the ""Tangle"". This processes and stores all transactions in a directed acyclic graph (DAG) structure which is claimed to be faster and more efficient at processing  transactions. 

 

MIOTA can also be used for micropayments, digital identity and for smart contract execution.

Kava (KAVA)

 

Kava (KAVA) is a cryptocurrency that is used as a means of payment on the Kava platform, which is a decentralized lending and borrowing platform for cryptocurrencies. The platform uses a unique consensus mechanism called “Proof of Stake Delegation” which allows users to earn a return on their assets by lending them out to borrowers. The Kava network is designed to provide a secure and efficient way for users to borrow and lend digital assets. KAVA can be used to pay for transaction fees on the platform, as well as to vote on governance proposals. The total supply of KAVA is fixed at 100 million tokens, and it is based on the Cosmos blockchain.

KuCoin Token (KCS)

TheKuCoin cryptocurrency token (KCS) is issued by the digital asset exchange, KuCoin on the Ethereum blockchain.

 

The token is mainly used as a medium of exchange on platform and to pay for trading fees. Token holders can also vote for listing new coins and tokens and can earn daily dividends based on the trading fees generated on the platform.

 

The supply of KCS is fixed at 200 million tokens.

 

Klaytn (KLAY)

 

Klaytn (KLAY) is a blockchain platform developed by Ground X based in South Korea. It aims to provide an enterprise-grade platform for developing decentralized applications (dApps). 

 

Klaytn's native cryptocurrency token is called KLAY and is primarily used as a means of exchange on the Klaytn blockchain to pay for transaction fees, smart contract execution fees and to incentivize network validators. Validators are rewarded with newly minted KLAY tokens for validating transactions on the network. KLAY can also be used as collateral for borrowing and lending on decentralized finance (DeFi) platforms.

 

Klaytn's blockchain has a hybrid public/private blockchain architecture which allows Klaytn to achieve high transaction throughput and low latency while maintaining the security and decentralization of a public blockchain. The platform is optimized for enterprise use cases and aims to make it easy for businesses to develop and deploy dApps.

 

Klaytn has formed in South Korea with several large companies including Samsung, LG, and SK Telecom. The platform has also launched several successful dApps, including a blockchain-based digital identification system and a mobile gaming platform.

 

Overall, Klaytn's goal is to provide a user-friendly, enterprise-grade blockchain platform that enables businesses to leverage the benefits of decentralized technology. The KLAY token plays an important role in incentivizing network validators and enabling transactions on the Klaytn network.

Lido DAO (LDO)

 

Lido DAO (LDO) (Decentralized Autonomous Organization) is a decentralized finance (DeFi) platform built on the Ethereum blockchain.

 

It has been designed as a decentralized lending platform allowing users to borrow and lend assets. 

 

Using the DAO governance model, token holders can vote on proposals to govern the platform and participate in the platform's liquidity pools. 

Litecoin (LTC)

 

Peer-to-peer cryptocurrency Litecoin (LTC) is based on the Bitcoin protocol. Created in 2011 by Charlie Lee, a former Google engineer, it is now one of the most established and widely-used altcoins (alternative cryptocurrencies) in the market. 

 

Litecoin uses a decentralized, open-source blockchain technology to facilitate secure and transparent transactions in a similar manner to Bitcoin.

 

A major difference between the two is block time, Litecoin's is 2.5 minutes allows for faster confirmation times for transactions compared to Bitcoins 10 minutes.

 

Litecoin's total supply is capped at 84 million, four times more than Bitcoin's 21 million and it is often referred to as the ""silver"" with Bitcoin being the ""gold"". 

 

It is accepted by a wide range of merchants and businesses and can be easily bought and sold on various cryptocurrency exchanges.

Loopring (LRC)

 

Loopring (LRC) is a decentralized exchange (DEX) protocol built on the Ethereum blockchain with a different approach to trading.

 

It supports cross-chain trading which essentially allows users to trade between different blockchain networks. Loopring's ring-matching mechanism (hence the name) allows users to match and execute these trades in a non-custodial manner. The approach allows users to retain control of their assets during the trading process.

 

It has a built-in token, LRC, which is used to pay for trading fees and to participate in the protocol's governance to upgrade and improve the protocol.

 

Magic (MAGIC)

The Magic Crypto Token (MAGIC) was launched in 2018 by the podcast hosts of "The Magical Crypto Friends," a show that discusses the latest developments in the world of cryptocurrency as a way to reward listeners  and to support the development of the show.

 

Built on the Ethereum blockchain it is mainly used as a means of payment for merchandise and services related to the podcast with tokens being used to vote on certain decisions related to the show, such as which topics to cover in future episodes.

 

MAGIC does not have a fixed supply, instead it is adjusted based on the number of new subscribers and listeners of the Magical Crypto Friends podcast, initially as a means of creating a sustainable token economy that grows with the popularity of the podcast.

 

In summary, the MAGIC is a niche cryptocurrency token that serves as a way to reward listeners of the Magical Crypto Friends podcast and to support the development of the show and is not widely used or recognized outside of the show's fanbase.

Maker (MKR)

Maker (MKR) is a decentralized finance (DeFi) platform which is built on the Ethereum blockchain. The platform created both MakerDAO (Decentralized Autonomous Organization) and the Dai stablecoin. 

 

Dai is a decentralized stablecoin (pegged to U.S. dollar) and its value is maintained through a system of collateralized debt positions (CDPs) and dynamic monetary policy.

 

Users can create Dai by collateralizing assets (such as Ether) and using it as a stable store of value or as a medium of exchange. They can also earn interest on their collateralized assets, which is paid in the form of the Maker token (MKR).

 

The MakerDAO is governed by MKR token holders, who can vote on proposals to change the platform's parameters, such as the stability fee, collateral types and more.

 

Maker is currently considered to be a key player in the defi space thanks to its alternative approach to traditional stablecoins and lending platforms. It offers a way to create a stablecoin that is not controlled by any central authority and provides a way for users to access lending and borrowing services in a trustless and decentralized manner.

Mina (MINA)

 

Mina (MINA) is a cryptocurrency built on the Mina protocol, a layer 2 scaling solution for Ethereum. Their aim is to make blockchain technology more accessible to a wider range of users and applications - especially those where data privacy and micropayments are important

 

Its key feature is the extremely small blockchain size (approx 22 kilobytes) which allows the blockchain to only store a small ""proof"" of all transactions rather than the full transaction data to improve speed.

 

The Mina token (MINA) is used for governance of the protocol and to incentivize network security.

Monero (XMR)

 

Monero (XMR) is a private cryptocurrency which claims to be untraceable. Launched in 2014 it is an open-source project that is built on the CryptoNote protocol.

 

To achieve increased privacy, Monero uses several technologies including stealth addresses, ring signatures, and Kovri (a protocol that helps to hide the IP addresses of users). 

 

These technologies are intended to work together to make it difficult for outside parties to trace Monero transactions back to a specific individual or address.

 

A potential downside to this is that Monero may be used for illicit activities such as darknet marketplaces and money laundering.

NEAR Protocol (NEAR)

 

The NEAR Protocol (NEAR) is a decentralized application (dApp) platform which is built on the NEAR blockchain.

 

Commentators consider NEAR as one of the most promising blockchain projects at the moment - largely down to their focus on scalability and performance which can be an issue for other blockchains.

 

To combat this, the NEAR Protocol utilizes a mechanism which allows it to process a high number of transactions per second whilst also being designed to be energy-efficient and secure.

 

The NEAR token is used to pay for transaction fees and, in common with other platforms, holders can vote on proposals to upgrade and improve the protocol.

NEM (XEM)

 

NEM (XEM) (New Economy Movement) is a peer-to-peer cryptocurrency and blockchain platform launched in 2015. 

 

It utilizes a unique consensus algorithm called ""Proof of Importance"" (PoI) that takes into account a user's overall support of the network (i.e. their ""importance"") rather than just their computational power, like other proof of work or proof of stake algorithms work. 

 

NEM's blockchain also includes built-in multisignature and asset management features, making it a popular choice for enterprise use cases. The native cryptocurrency of the NEM network is XEM.

Neo (NEO)

 

Neo (NEO) (previously known as Antshares) is an open-source blockchain platform and cryptocurrency.

 

Neo uses a consensus algorithm called ""Delegated Byzantine Fault Tolerance"" (dBFT), which claims to provide fast transaction speeds and low network latency.

 

The Neo platform also includes support for multiple programming languages in a bid to allow more developers to build decentralized applications. 

 

The native cryptocurrency of the Neo network is NEO.

 

 

Nexa (NEXA)

 

Nexa (NEXA) is a scalable Layer-1 decentralized blockchain project launched by Nexa.org (Bitcoin Unlimited) in mid 2022. Nexa claims that it will be able to handle over 10 billion transactions per day whilst offering smart contracts and native token services whilst remaining decentralized.

 

Nexa.org states that their new technology will remove the bottlenecks of bandwidth to achieve this scale and provide instant, trustless transactions of any amount, allowing users to have payments credited instantly.

 

Nexa works on a proof-of-work algorithm which it claims will incentivize users to bring new hardware into existence that nodes will then use to accelerate transaction validation above and beyond other blockchains. 

 

They offer token functionality natively with no need for smart-contracts or token standards like ERC-20 - however, if users need smart-contracts for their tokens, this is also available. Nexa calls these ‘wise-contracts’ because of how they apply network resources.

 

NFTs can also be created in a similar manner to fungible tokens and they can be used for functions including digital artwork, asset ownership, tickets, in-game items, certificates or other use cases.

 

Nexo (NEXO)

 

Nexo (NEXO) is a platform that, amongst other services, offers crypto-backed loans.

 

Users are able to borrow cash or stablecoins, such as USDT, USDC, TUSD, or GUSD, against their crypto assets, such as Bitcoin, Ethereum, and others, without the need to sell them. 

 

Users can also earn interest on their idle crypto and fiat assets, as well as a credit card with cashback paid in Nexo tokens.

 

The platform has a native token, NEXO, which provides holders with a 30% dividend on the company's net profit, paid out on a monthly basis.

OKB (OKB)

 

OKB (OKB) is a digital token issued by OKEx, a cryptocurrency exchange based in Malta.

 

It is an ERC-20 type token built on the Ethereum blockchain and a primary use is paying for trading fees on the OKEx platform.

 

OKB can also be used as a form of collateral for margin trading on the OKEx platform and to vote for the listing of new tokens on the exchange. 

 

The total supply of OKB is capped at 300 million, and it can be traded on OKEx and other cryptocurrency exchanges.

Optimism (OP)

 

Optimism (OP) is an open-source layer 2 scaling solution for Ethereum which claims to allow faster and cheaper transactions than on the base layer of Ethereum blockchain.

 

It uses a technique called ""optimistic rollup"" which allows for the execution of smart contracts and off-chain transactions while maintaining their security and verifiability on-chain. 

 

This enables the scaling of high-performance decentralized applications (dApps) and decentralized finance (DeFi) platforms, while still maintaining the security guarantees of Ethereum. Optimism also enables developers to create new tokens and assets that can be used in these high-performance dApps, but currently Optimism is not a cryptocurrency.

Osmosis (OSMO)

 

Osmosis (OSMO) is a decentralized blockchain platform which is largely focused on enabling businesses to manage and share data securely.

 

The platform has a token called Osmosis Coin (OSM) which, ostensibly, provides incentives for users to share their data on the platform - as well as facilitating transactions.

PancakeSwap (CAKE)

 

PancakeSwap (CAKE) is a decentralized exchange (DEX) which is built on the Binance Smart Chain (BSC) blockchain.

 

The exchange enables users to trade a variety of digital assets including cryptocurrencies, non-fungible tokens (NFTs) and their token - CAKE.

 

Token holders get votes to govern the platform whilst the tokens can be used to provide liquidity and pay trading fees.

 

PancakeSwap also has a some interesting differentiators:

 

They have developed an automated market maker (AMM) system which claims to allow users to trade assets without the need for order book matching. 

 

The platform also supports Yield Farming - essentially allowing users to earn additional returns on their assets by providing more liquidity.

Pax Dollar (PAX)

 

Pax Dollar (PAX) is a stablecoin cryptocurrency which is pegged to the value of the US dollar. 

 

It is designed to maintain a value of 1:1 with the US dollar, meaning that 1 PAX is always equal to 1 US dollar through maintaining reserves of US dollars held in a trust and audited on a regular basis to ensure that they are sufficient to back the outstanding PAX tokens.

 

Stablecoins like Pax Dollar are often used as a way to store value, facilitate transactions, and provide a way to move funds between different blockchain platforms. Pax Dollar is issued by Paxos Trust Company, which is a financial institution that is regulated by the New York State Department of Financial Services.

PAX Gold (PAXG)

 

PAX Gold (PAXG) is a digital asset backed by a physical gold - each PAXG token is backed by one fine troy ounce (t oz) of a London Good Delivery gold bar, stored in a professional vault. 

 

The gold is audited and the proof of ownership is available on the blockchain through the use of a ERC-20 token on the Ethereum blockchain, making it easily transferable and divisible.

 

As PAX Gold's value is tied to the price of the physical gold it represents, it allows users to trade and invest in gold without the need to store or insure it.

 

It is also intended to provide an easy way to move value between different blockchain platforms, as well as a way to store value in a form that has been historically stable over time. 

 

PAXG is issued by Paxos Trust Company, which is a financial institution that is regulated by the New York State Department of Financial Services.

 

Pepe (PEPE)

 

Launched in April 2022, Pepe (PEPE) is a memecoin launched on Ethereum. The cryptocurrency was created as a tribute to the Pepe the Frog internet meme, created by Matt Furie, which gained popularity in the early 2000s.

The project aims to capitalize on the popularity of meme coins, like Shiba Inu and Dogecoin, and strives to establish itself as one of the top meme-based cryptocurrencies. PEPE appeals to the cryptocurrency community by instituting a no-tax policy, a redistributive system rewarding long-term stakers, and a burning mechanism to maintain scarcity of the PEPE coin.

The PEPE roadmap features three phases, where phase one includes listing on CoinMarketCap, and getting $PEPE trending on Twitter, while phase two includes listing on centralized exchanges (CEXs) and phase three includes “tier 1” exchange listings and what the team terms a “meme takeover.”

It features a, so called, unique staking and liquidity program that rewards users for holding and trading the token.

The total supply of Pepe tokens is capped at 10 million and, whilst PEPE claims that its entire supply is circulating, Coin Market Cap suggests there have been signs that certain insiders/team members were able to buy 7% of the total supply minutes after TGE in what was purportedly a 'fair' launch.

Coin Market Cap states that the "burden of proof is on the PEPE team to address these observations and prove that the entire supply is indeed circulating." 

Pepe is described as a community-driven project that aims to create a new ecosystem for artists, creators, and collectors and plans to launch a marketplace for digital art and NFTs (non-fungible tokens) that will allow creators to earn royalties from the sale of their work.

The token has a fixed burn rate of 1% per transaction and it can be traded on several cryptocurrency exchanges, including PancakeSwap and JulSwap.

 

Polkadot (DOT)

 

Polkadot (DOT) blockchain platform aims to enable interoperability between different blockchain networks, allowing them to share data and assets. The overarching aim is to enable a more decentralized and open internet, where users have greater control over their data and assets.

 

It uses a unique multi-chain architecture, which allows for the creation of multiple parallel chains, called ""parachains"" which can operate independently but also interact with each other.

 

Polkadot's token is called DOT and is used to facilitate transactions on the platform and, in common with other Crypto tokens, govern. Holders have a say through voting on protocol upgrades and the overall direction.

Polygon (MATIC)

 

Polygon (MATIC) (formerly Matic Network) is a layer 2 scaling solution for Ethereum which uses a technique called "Plasma" to off-load transactions from the Ethereum mainchain to a sidechain where they can be processed faster and more efficiently.

 

This approach, it is claimed, helps to alleviate congestion whilst reducing fees on the Ethereum mainchain, possibly making it more suitable for large-scale, high-throughput applications such as decentralized finance (DeFi) and gaming.

 

Polygon's native token (MATIC) can be used to pay for transaction fees and to provide security for the network. It also acts as a governance token, allowing holders to vote on protocol upgrades and the overall direction of the platform.

Quant (QNT)

 

The Quant (QNT) cryptocurrency is an ERC-20 token on the Ethereum blockchain which can be used to access the Overledger network and its services.

 

The Quant Network (a technology company that provides blockchain solutions for enterprise and government) developed Overledger to allow for the interoperability between different blockchain networks, including Bitcoin, Ethereum, and many others. 

 

They claim this approach enables the creation of decentralized applications (dApps) that can communicate and transact across different blockchain networks, potentially increasing the use cases and benefits of blockchain technology.

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Quant Network has partnerships with several companies and organizations in various industries. Their aim is to enable businesses and organizations to create their own private blockchain networks and to use existing public blockchain networks for specific sectors including finance, healthcare and supply chain management.

 

Render Token (RNDR)

 

Render Token (RNDR) is a cryptocurrency and a blockchain-based platform that aims to create a decentralized cloud rendering network for the 3D animation and special effects industry. It was created by the Los Angeles-based company, OTOY, which specializes in cloud graphics and rendering.

 

The platform is designed to provide a more efficient and cost-effective way for artists, studios, and other content creators to render their 3D graphics and animations. By leveraging blockchain technology, RNDR creates a distributed network of nodes that can process and render data in parallel, with a view to reducing the time and costs associated with more traditional rendering methods.

 

Render Token is an ERC-20 token built on the Ethereum blockchain and, from a usage perspective, it serves as the payment method for transactions on the RNDR network, including rendering services, network fees, and licensing fees. Render Token holders can also participate in the governance of the network by staking their tokens and voting on proposals.

 

The platform has already garnered support from companies including Disney, HBO, and Warner Bros and has formed partnerships with other blockchain-based including Golem and 0x.

Rocket Pool (RPL)

 

Rocket Pool (RPL) is an open-source, decentralized network that aims to provide a more efficient and cost-effective way to stake Ethereum 2.0. 

 

The network uses a technique called "staking pools" to allow users to pool their resources together to increase their chances of being selected to validate blocks on the Ethereum 2.0 network, while also sharing the rewards proportionally among the pool members.

 

Rocket Pool uses a token called RPL, which is used as a form of collateral to secure the network and as a means of sharing the rewards generated by the staking pools. Holders of RPL can also vote on governance proposals and the overall direction of the platform.

 

One of the key features of Rocket Pool is its "smart contract liquidity" which allows users to swap their ETH for RPL and back at any time, enabling them to easily enter and exit the staking pools without having to wait for a lock-up period to end. Additionally, Rocket Pool aims to be fully compatible with the existing Ethereum ecosystem, which means that developers can use their existing tools and knowledge to build on Rocket Pool.

Shiba Inu (SHIB)

 

Shiba Inu (SHIB) is a decentralized cryptocurrency that is built on the Ethereum blockchain. It was launched in August 2020 as a meme-inspired token associated with Shiba Inu dog meme.

 

SHIB is based on the Ethereum ERC-20 standard, which means it can be stored in any wallet that supports Ethereum-based tokens. The total supply of SHIB is fixed at 1 quadrillion tokens, with 50% of the supply distributed via an initial coin offering (ICO) and the remaining 50% locked in a smart contract called the "Shiba Vault."

 

SHIB holders can participate in the governance of the project by voting on proposals that affect the direction of the project. The token has been used for various charitable causes and for liquidity provision on decentralized finance (DeFi) platforms.

 

It's important to note that SHIB like any other cryptocurrency is highly volatile and its value can fluctuate greatly. Also, it is considered as a high-risk investment, as it's popularity may not guarantee its long-term value.

 

SingularityNET (AGI)

 

SingularityNET (AGI) is a decentralized artificial intelligence (AI) platform built on blockchain technology with a view to enabling secure and transparent transactions. AGI is an ERC-20 token built on the Ethereum blockchain and can be used to pay for services such as natural language processing, computer vision, and predictive analytics.

 

The SingularityNET token (AGI) is the native cryptocurrency of the platform and serves as the primary means of payment for accessing AI services and algorithms on the marketplace. A feature of SingularityNET is the ability for AI agents to interact and collaborate with one another on the platform, creating a decentralized network of AI services. 

 

SingularityNET has been backed by notable figures in the tech industry, including the inventor of the World Wide Web, Sir Tim Berners-Lee, and the founder of Ethereum, Vitalik Buterin and has formed partnerships with other blockchain-based projects, such as Ocean Protocol and Fetch.ai.

Solana (SOL)

 

Solana (SOL) is a decentralized blockchain platform which uses a consensus algorithm called ""Proof-of-Stake Time"" (PoST) which aims to allow high transaction throughput and low latency. It is fully compatible with the existing Ethereum ecosystem allowing developers to use their existing tools and knowledge to build on Solana.

 

Solana's token is called SOL and it can be used to pay for transaction fees and as a means of exchanging value within the Solana ecosystem. In common with most tokens, SOL holders can also participate in the governance of the platform by voting on proposals that affect the direction of the project.

Stacks (STX)

 

Stacks (STX), which is built on the Bitcoin blockchain,  is a decentralized blockchain platform often used by developers and entrepreneurs looking to build decentralized applications and decentralized finance (DeFi) using Bitcoin's security and mining network.

 

 One of the key features of Stacks is its ""smart contract"" feature which allows developers apps that can interact with the Bitcoin blockchain.

 

The Stacks token is called STX and this can be used to pay for transaction fees and as a means of exchanging value within the ecosystem. 

 

As with most tokens, holders of STX can get involved in overarching platform governance by voting on proposals - should they decide to.

Stellar (XLM)

 

Stellar (XLM) is a decentralized open source blockchain platform which has been specifically designed to facilitate cross-border transactions - users can send and receive money in different currencies and in different parts of the world.

 

As an open source platform, users can access Stellar's own distributed ledger and consensus protocolare but they can also modify and update the software for their own purposes. 

 

The native currency called Lumens (XLM) can be traded alongside digital assets including cryptocurrencies and non-fungible tokens (NFTs).

Synthetix (SNX)

 

Synthetix (SNX), a decentralized finance (DeFi) platform, is built on the Ethereum blockchain. Users are able to trade so-called "synthetic assets" (i.e. digital assets that are backed by other assets such as stocks, commodities, and currencies).

 

To help maintain the value and stability of these synthetic assets, the platform utilizes a technique called "over-collateralization" to automatically ensure that they are backed by sufficient collateral.

 

A further key Synthetix feature is the "on-chain liquidity" which allows users to trade synthetic assets without the need for order book matching. 

 

Synthetix also supports yield farming and their native token (SNX) can be used as collateral to mint synthetic assets and pay transaction fees.

Terra Classic (TRC)

 

Terra Classic (TRC) is a decentralized blockchain platform launched in 2019 and is a fork of the original Terra blockchain - but, importantly, it is not related to the current Terra project.

 

Terra Classic uses a consensus algorithm called ""Tendermint BFT"" which aims to provide fast, secure and efficient transactions and it is open source, so anyone can update or modify the software to suit their requirements.

 

This platform also features a built-in decentralized exchange (DEX) which allows users to trade various digital assets, including cryptocurrencies and non-fungible tokens (NFTs).

 

Their native token is the TRC, which can be used to pay for transaction fees and as a means of exchanging value within the Terra Classic ecosystem. As usual, should they wish to, TRC holders can also participate in the governance of the platform by voting on proposals that affect the direction of the project.

 

Terra (LUNA)

Terra (LUNA) was a product of the hard fork that was executed after the Terra LUNA implosion. The LUNA Classic (LUNC) was the rebranding of the old/crashed cryptocurrency. It remains a  cryptocurrency and blockchain-based payment system, created by a company called Terraform Labs to offer fast, secure, and low-cost payments.

 

The Terra ecosystem consists of two tokens: the Terra stablecoin (UST) and the Terra native token (LUNA). UST is a stablecoin that is pegged to the US dollar and can be used for transactions on the Terra platform. LUNA is the native token of the Terra blockchain and is used to maintain the stability of the Terra stablecoin.

 

One of the unique features of the Terra platform is its use of a stablecoin that is not backed by traditional fiat currencies or assets, but rather by a basket of cryptocurrencies. This approach helps to reduce the risk of currency fluctuations and provides greater stability for users.

 

The Terra platform has already gained significant traction in the e-commerce and online payments space, with partnerships with major companies such as Pundi X, Chai, and Mongolian fintech company, Ard Credit. The platform has also been integrated into popular e-commerce platforms like Shopify and WooCommerce, making it easy for merchants to accept Terra payments.

 

Overall, Terra aims to create a global payment infrastructure that is fast, secure, and affordable for everyday use. The use of stablecoins and the Terra native token help to ensure that transactions on the platform are stable, efficient, and cost-effective.

Tether (USDT)

 

Tether (USDT) is a stablecoin (US$ pegged) cryptocurrency issued by Tether Limited, a company that operates under the jurisdiction of the British Virgin Islands. 

 

It is designed to maintain a value of 1:1 with the US dollar, meaning that 1 USDT is always equal to 1 US dollar - achieved through maintaining reserves of US dollars, which are held in a trust and audited on a regular basis.

 

Stablecoins are often used as a way to store value, facilitate transactions, and provide a way to move funds between different blockchain platforms and Tether is currently the most widely used stablecoin.

 

As a result, it is widely accepted on most major cryptocurrency exchanges and can be used as a means of payment on some online platforms.

 

However even given the US$ peg, the issuer, Tether Limited has been subject to controversies regarding its reserves and transparency and this has led some to question the stability of the coin. 

Tezos (XTZ)

 

Tezos (XTZ) is a decentralized blockchain platform which utilizes a unique consensus mechanism called "formal verification". This is designed to enable secure and efficient execution of smart contracts.

 

Because Tezos is compatible with the Ethereum ecosystem developers can update and amend existing tools to build on it.

 

Tezos uses a token called XTZ which, in common with most tokens, is used to pay for transaction fees, provide security for the network and as a means of exchanging value within the Tezos ecosystem.  XTZ token holders can also participate in platform governance.

 

One of the key features of Tezos is its "self-amending" protocol, which allows the network to be upgraded without the need for hard forks.

The Graph (GRT)

 

The Graph (GRT) is a decentralized protocol which was designed to query blockchain data.  This is achieved through using Graph's built in indexing and querying layer and it allows users to easily access and extract the data.

 

The Graph token is called GRT and this is used to pay for the indexing and querying services provided by the protocol. Indexers who provide the data for the network are incentivized to do so by earning GRT for their services. Additionally, developers who use The Graph's services also pay for access to the data with GRT.

 

The Graph's protocol has been built to handle complex queries and to provide real-time data. It is also open source, meaning that users can modify and distribute the software for any purpose. 

 

The Sandbox (SAND)

 

The Sandbox (SAND) is a virtual world gaming platform built on the Ethereum blockchain which allows players to create and share their own gaming experiences.

 

Users do this by using a proprietary Voxel-based terrain editor and they are then able to monetize their creations through the use of SAND, the platform's native cryptocurrency.

 

The Sandbox's virtual world is divided into parcels of land called LAND - these are created as non-fungible tokens (NFTs) that players can purchase and use to create their own experiences.  Players can also monetize their experiences by charging other players to access them or by selling in-game items and experiences.

 

Their token, SAND, is used to facilitate transactions within the platform, such as the purchase of LAND, in-game items, and experiences. It is also used to govern the platform, allowing holders of SAND to vote on proposals that affect the direction of the project.

Theta Network (THETA)

 

Theta Network (THETA)  is a blockchain platform focusing on video content. The platform utilizes a unique consensus mechanism called ""Proof-of-Stake + Video Delivery"" (PoSV) that allows users to earn rewards for contributing their bandwidth and resources to the network.

 

Theta Network's token is called THETA and in common with other Crypto Tokens it can be used to pay for transaction fees, provide security for the network, and as a means of exchanging value within their ecosystem. THETA holders can also participate in the governance of the platform by voting on proposals that affect the direction of the project.

 

Theta Network claims that it is able to deliver high-quality video content with low latency and high scalability. It is also designed to be fully compatible with the existing Ethereum ecosystem, which means that developers can use their existing tools and knowledge to build on Theta Network.

 

Theta Network is also an open-source platform which means that anyone can use, modify and distribute the software for any purpose. It's also community-driven, and it's governed by its community of users and developers.

THORChain (RUNE)

 

THORChain (RUNE) is a decentralized cross-chain liquidity protocol built on the Cosmos Network. It is designed to allow users to securely swap digital assets, including cryptocurrencies, on a decentralized exchange (DEX).

 

To achieve this, the protocol uses a technique called "liquidity staking", allowing users to earn rewards for providing liquidity to the network.

 

THORChain's native token is called RUNE, which can be used as collateral to secure the network, as a means of exchanging value within the THORChain ecosystem and as a governance token. RUNE holders can vote on proposals that affect the direction of the project.

 

THORChain also supports cross-chain transactions, allowing for interoperability between different blockchain networks, which greatly expands the potential for liquidity. 

 

THORChain is open-source, which means that anyone can use, modify and distribute the software for any purpose. It's also community-driven, and it's governed by its community of users and developers.

Toncoin (TON)

 

Toncoin (TON) (Telegram Open Network) is a blockchain network that was developed by the Telegram team (of Telegram App fame) whose goal was to create a fast and secure blockchain network.

 

TON was expected to use a multi-blockchain architecture  that could handle millions of transactions per second and support a wide range of decentralized applications.

 

The native cryptocurrency of the network is called GRAM - which would have been used for transactions, storing value, voting etc.

 

In May 2020, however, Telegram decided that they would discontinue the development of the TON network, citing regulatory challenges. It was never launched and, although some communities are still working on it, it's unclear if it will ever be launched.

TRON (TRX)

 

TRON (TRX) is a decentralized blockchain platform with a ""Delegated Proof-of-Stake"" (DPoS) consensus mechanism.

 

The platform's native token is TRX and this can be used to pay for transaction fees, and as a means of exchanging value within the TRON ecosystem. 

 

If they so wish, holders of the TRX tokens can also participate in the governance of the platform by voting on proposals.

 

It also has high-throughput capabilities, allowing it to process up to 2,000 transactions per second, and is fully compatible with the Etherium ecosystem.

 

These features may make TRON particularly interesting to developers and entrepreneurs looking to build decentralized applications and decentralized finance (DeFi) applications.

TrueUSD (TUSD)

 

TrueUSD (TUSD) is a stablecoin cryptocurrency (US$ pegged) designed to maintain a value of 1:1 with the US dollar through regularly audited reserves of US dollars.

 

TrueUSD is an ERC-20 token, which means that it can be stored and transferred on the Ethereum blockchain and is widely accepted on most major cryptocurrency exchanges and can be used as a means of payment on various online platforms.

 

TrueUSD is issued by TrustToken, a regulated and audited financial institution. The company has implemented Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures to ensure compliance with legal and regulatory requirements.

 

Stablecoins like TrueUSD are often used as a way to store value, facilitate transactions, and provide a way to move funds between different blockchain platforms. However, it's important to conduct thorough research and consider the risks before investing in any cryptocurrency, including stablecoins.

Trust Wallet Token (TWT)

 

Trust Wallet Token (TWT) is the native cryptocurrency of Trust Wallet, an open-source mobile wallet for storing and managing various cryptocurrencies. 

 

It is built on the Ethereum blockchain and allows users to store and manage their Ethereum-based tokens and assets, including ERC-20 and ERC-721 tokens.

 

TWT is also used as a governance token within the Trust Wallet ecosystem and this allows holders to vote on proposals and make decisions that will shape the future of the wallet.

 

The Trust Wallet team has made it clear that TWT is neither a security token nor a speculative token - its main purpose is to give users a voice in the direction of the wallet and its features.

 

Trust Wallet is an open-source platform, which means that anyone can use, modify and distribute the software for any purpose. It's also community-driven, and it's governed by its community of users and developers.

Uniswap (DEX)

 

Uniswap (DEX) is built on the Ethereum blockchain and allows users to trade various cryptocurrencies and tokens through ""liquidity pools"".

 

It can support any Ethereum-based token in these pools which significantly expands the potential for liquidity whilst allowing users to share in the trading fees for providing this liquidity.

 

Uniswap's native token is called UNI - and is used in much the same way as most other platform tokens - that is, for governance votes and paying transaction fees on the platform.

 

As an open-source platform, Uniswap's software can be used, modified and distributed for any purpose. 

UNUS SED LEO (LEO)

UNUS SED LEO (LEO) is a cryptocurrency that was built by iFinex, the parent company of Bitfinex, on the EOS blockchain. 

 

It is used to govern the iFinex ecosystem, which includes Bitfinex, Ethfinex, and EOSfinex.

 

Native LEO Token holders can participate in the governance of the iFinex ecosystem by voting on proposals that affect the direction of the project. They can also earn rewards for holding LEO and participating in the ecosystem by providing liquidity or staking their tokens.

 

LEO also aims to provide a means of value transfer between the different platforms within the iFinex ecosystem and to provide liquidity to the trading pairs on these platforms.

 

It is an open-source platform, which means that anyone can use, modify and distribute the software for any purpose. It's also community-driven, and it's governed by its community of users and developers.

USD Coin (USDC)

 

USD Coin (USDC) is a stablecoin cryptocurrency which is pegged to the US Dollar at a 1:1 ratio. To ensure stability, these US Dollar reserves are then held in escrow by a third-party trust company and audited on a regular basis.

 

USDC is an ERC-20 token and can be stored and transferred on the Ethereum blockchain. It is widely accepted on most major cryptocurrency exchanges and can also be used as a means of payment on various online platforms.

 

USDC is issued by the Centre Consortium, a non-profit organization, and is also backed by Circle and Coinbase.

USDD (DUSD)

 

Decentralized USD (DUSD) is a type of stablecoin cryptocurrency that is pegged to the value of the US dollar at a ratio value of 1:1. 

 

However, DUSD is built on a decentralized blockchain platform, meaning that it is not controlled by a central authority or trust. Instead, it is governed by a decentralized autonomous organization (DAO) or smart contract. This is set up to ensure that the DUSD tokens are always backed by an equivalent value of US dollars held in reserve.

 

This means that DUSD is a different type of stablecoin to the centralized stablecoins like Tether or USDC. The latter are issued by companies and are backed by reserves held by them.

 

A potential upside of DUSD is that it is not controlled by any central authority, ensuring that it is more transparent and less prone to censorship - but the backing of all stablecoins should be researched to establish the risks before investing in any cryptocurrency.

VeChain (VET)

 

VeChain (VET) is a blockchain platform which uses a consensus mechanism called ""Proof-of-Authority"" (PoA).

 

VeChain uses two tokens: VET and VeThor (VTHO). VET is used as a governance token and as a means of exchanging value within the VeChain ecosystem. VeThor (VTHO) is used to pay for the execution of smart contracts on the VeChain network and it is generated by holding VET.

 

VeChain is particularly used to track and trace supply chain activities, providing transparency and accountability. It also allows for the integration of IoT (Internet of Things) devices, which allows for real-time monitoring of products and assets on the supply chains whilst allowing a secure route for users to share information and data with their partners and customers.

 

VeChain is an open-source platform, which means that anyone can use, modify and distribute the software for any purpose. It's also community-driven, and it's governed by its community of users and developers.

Wrapped Bitcoin (WBTC)

 

Wrapped Bitcoin (WBTC) is a stablecoin cryptocurrency that is pegged to the value of Bitcoin. An ERC-20 token, it can be stored and transferred on the Ethereum blockchain.

 

WBTC is created by wrapping Bitcoin, which means that users can deposit Bitcoin into a smart contract, and in return, receive an equal value of WBTC. This process is often referred to as ""minting."" 

 

When the user then wants to redeem the WBTC, they can send it back to the smart contract and receive the equivalent value of Bitcoin in return.

 

This allows users to take advantage of the benefits of Bitcoin within the Ethereum ecosystem which offers greater interoperability between different blockchain networks.

 

WBTC is governed by a decentralized autonomous organization (DAO) which ensures that the WBTC tokens are always backed by an equivalent value of Bitcoin held in reserve. This DAO is usually composed of several participating parties, such as merchants, exchanges, and custodians.

XDC Network (XDC)

 

XDC Network (XDC) is a blockchain-based cryptocurrency and smart contract platform. It aims to provide improved interoperability between different blockchain networks.

 

It uses a modified version of the EOSIO software and a consensus mechanism called Delegated Proof of Stake (DPoS) to validate transactions and enable the secure exchange of digital assets across different platforms. 

 

The native cryptocurrency token is XDC and thus it can be used for paying transaction fees, participating in governance and accessing services on the network. 

XRP (XRP)

The XRP cryptocurrency (XRP)  was created by Ripple, a US Technology company focused on the payments space.

 

They have essentially designed XRP as a digital asset which can be used as a medium of exchange for transactions between countries and different currencies over a blockchain based protocol.

 

The XRP token can therefore be used to facilitate these cross-border payments and it can also be used as a bridge currency, allowing for the conversion of one currency to another without the need for a direct exchange. 

 

XRP has gained trust across financial institutions thanks to speed, reliability and because it operates with a finite number of coins.

Zcash (ZEC)

 

Zcash (ZEC) is an open sourced cryptocurrency that was created in 2016 as a fork of the Bitcoin protocol. 

 

However, unlike Bitcoin, Zcash transactions can be shielded so that the sender, recipient, and amount of the transaction can be kept private using technology called ""zk-SNARKs"" (zero-knowledge succinct non-interactive arguments of knowledge).

 

Whilst the transparency is widely used and makes it a popular choice, it is important to note that it is optional. 

 

The tokens on the Zcash blockchain are denoted as ZEC, and it can be used for various purposes such as paying for goods and services, or as a store of value.