The cryptocurrency market has grown in popularity to a huge extent. The market is more than what it used to be and offers a lot of potential for the future.
While there are different projects and tokens in the world of cryptocurrency, you’ll find that there are many similarities between each of them.
One of the universal features of most crypto projects is that they charge transaction fees to process token sales, purchases and swaps on their network. Then, they are used to pay users who have provided some form of liquidity to the network.
There’s no doubt that transaction fees are crucial to the sustainability of the network, but paying these fees can be unexplainably expensive on certain networks.
The Ethereum (ETH) blockchain is a popular culprit for charging extraordinary fees because of the congestion of smart contracts and decentralised projects on the network.
Solana (SOL), Cardano (ADA) and Logarithmic Finance (LOG) are recent crypto projects designed to cope with the deficiencies of the Ethereum (ETH) protocol.
Solana (SOL) is a decentralised project designed with the capacity to host decentralised applications. It was developed in 2017 as an open-source protocol that was built by a development lab in San Francisco. You need to note that the entire Solana project is funded by the Solana Foundation, Geneva.
When you compare the transaction speed of Solana (SOL) with other blockchains, you’ll realise that it boasts a faster speed and can process operations at a cheaper rate too. It has been touted to rival the efficiency offered by Ethereum.
Solana (SOL) is a decentralised platform that runs in a native token – SOL. This token serves as a way to denote value on the Solana blockchain.
Despite being a protocol token, Solana (SOL) rose to unexpected heights in 2021. Today, the token has a price of $44.37 and a market cap of $15.03 billion.
During the release of the Solana (SOL) ecosystem in 2017, its founder – Anatoly Yakovenko – released a whitepaper that explained the Proof-of-History mechanism that powered the blockchain. This mechanism was used to verify the passage of time between events and is used to ensure timeless recording of transaction data into a ledger.
Cardano (ADA) is currently one of the largest crypto assets on the market.
This project is designed to be a flexible and sustainable decentralised platform. The main purpose of the Cardano (ADA) blockchain is to support smart contracts and give access to a wide variety of features; games, new crypto tokens, etc.
The main purpose behind the development of the Cardano network was to create a protocol that could improve on the features of Ethereum (ETH). Yes, Ethereum was widely accepted by the entire crypto community but it has also become slower and costlier.
Cardano runs on an innovative proof-of-stake mechanism, called Ouroboros. This system was more energy conservative than the proof-of-work system. As a result, Cardano (ADA) is more efficient and can process more transactions than Ethereum.
ADA is the native token of the Cardano blockchain protocol.
According to information on its official website, Logarithmic Finance (LOG) is a layer-III swapping protocol. The purpose of this protocol is to smoothly and efficiently connect innovators and connectors.
This network exists as a non-custodial ecosystem that allows crypto users to be able to raise funds for projects on any supported blockchains. Logarithmic Finance (LOG) can support blockchains such as; Binance Smart Chain, Polygon, Tezos, Avalanche, Solana, and Ethereum (ETH).
Logarithmic Finance (LOG) is an ERC-20 utility token of the Logarithmic Finance (LOG) ecosystem. With this token, crypto users can enjoy staking rewards, access to large liquidity pools, governance rights and high-yield investments.
Are you interested in joining the Logarithmic Finance (LOG) community? Click on the presale link below to get started.
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
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