Cryptocurrency

Curated new applications in the crypto space to watch out in 2021

crypto space

For many years now, centralized exchanges have been the cornerstone of the financial sector. This arrangement leaves all the power in the hands of a few powerful corporations, governments etc. But things are no longer the same. These days, people are moving towards decentralized financing through exchanges, cryptocurrencies and blockchain networks.

In decentralized systems, exchanges require no intermediate parties and are much better than centralized systems. Following the launch of Bitcoin in 2009, several developers have been working day and night to keep the ball rolling. What you read here are some of the best cryptocurrency trading platforms and projects worth keeping an eye on.

1) BZx

BZx was founded by Tom Bean and Kylie Kistner. The founders initially came up with the idea in 2017 and a year later, raised around $8 million in an ICO. BZx is a DeFi platform that was built on the Ethereum network. Unlike several other DeFi platforms, the smart contracts on BZx automate financial processes. 

One of the major differences between BZx and other coins in its cadre is that BZx offers three tokens that determine how BZx works namely: iToken, pToken and BZRX Token. BZx also makes sure to keep the gas price (transaction fees) low despite its growing number of users.

The BZRX token is used by its users to vote and stake the tokens to earn a share of the protocol fees. When it comes to liquidity pools, there are two groups of people available, namely the borrowers and lenders. These two groups of people can move funds to or from global liquidity pools using the pTokens and iTokens. 

When a user (lender) supplies funds to the liquidity pool, they can receive the iToken, whereas, when users (borrowers) borrow funds from the liquidity pool to open trading positions, they receive a pToken. Users can also avail themselves of these tokens on decentralized exchanges like Uniswap.

2) Low Orbit Crypto Cannon (LOCC)

Low Orbit Crypto Cannon (LOCC), DeFi token, developed by a team of 5 blockchain enthusiasts, is made for the community and is maintained by the community. LOCC tokens are maintained by efficient and powerful smart contracts that are deployed on the Ethereum network. For every trade, the fees are generated and partially burnt. For the propulsion of 138 Ethereum blocks, a selected person receives all the collected fees.

As of today, the total supply of LOCC tokens is 1000 out of which the circulating tokens are 800. For anyone to win the LOCC lottery, the requirements are that the person must stake 0.055 LOCC tokens. The one user who receives all the collected fees will be selected for propulsion after every 138 blocks of ETH; which happens in approximately an hour.

The presale hard cap was reached in less than a minute after a successful initial liquidity offering event. The circulating supply will keep depleting until there are only 500 tokens available. This depletion makes the tokens very scarce and token scarcity increases the value of the tokens. In order to stay updated with the news and updates from LOCC, users can visit LOCC’s official website and social platforms like Telegram and Twitter.

3) Moeda Loyalty Points 

Moeda is a decentralized peer-to-peer payment platform. One of the major goals of Moeda is to encourage the interests of excluded communities in a fair and sustainable way. Moeda’s objectives go well with impact investing. Impact investing is a way to see financial returns and also positive socio-environmental impact. Moeda is best suited for investors and activists who come up with sustainable ideas.

Moeda’s business model relies on 4 important components namely: registered digital tokens, a blockchain network for peer-to-peer payments, a web and mobile application to access the services as well as a commitment to promote sustainable growth by supporting entrepreneurs, investors and activists.

Moeda provides two different portals for investors and entrepreneurs. The investor portal shows the list of projects and will allow the investors to invest in a project. The entrepreneurs portal gives access to funding, business education and the market. The basic requirement to access the platform is to pass the KYC/AML verifications before using the platform.

Conclusion

Cryptocurrencies have many potential advantages like maintaining the value against inflation and facilitating seamless transactions. Since cryptocurrencies are decentralized and do not have any third-party interventions, the transaction fees are very less compared to traditional transactions that involved banks and other third parties. The global market value of cryptocurrency is expected to reach up to $1087.7 million by 2026.

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