Blockchain-based cryptocurrencies that could explode in 2022: Rocketize, Filecoin and Elrond
Cryptocurrencies are one of the fastest growing sectors of the technology industry. The idea of digital money that can be used anywhere and by anyone is still new and exciting, and it is expected to explode this year. But what exactly is cryptocurrency? Also called “crypto” or “digital currency”, cryptocurrency is a currency that is stored in a digital wallet and traded between users. It uses technology – particularly blockchain – to make transactions more secure and transparent than traditional payment methods such as credit cards or bank transfers.
There are more than 12,000 cryptocurrencies available today, including Filecoin (FIL) and Elrond (EGLD), with more, such as Rocketize (JATO), introduced. These tokens use some variation of blockchain technology for security purposes: the decentralized nature of blockchains means that no central authority or bank controls them. Instead, transactions are publicly recorded on their distributed ledger (the blockchain), meaning that each transaction can be verified without human intervention or oversight.
The Community DeFi Platform – Rocketize
Rocketize is an innovation community-focused DeFi platform, built on the Binance Smart Chain (BSC) blockchain. According to the roadmap, Rocketize aims to create a significant revolution in decentralized exchange, Decentralized Finance (DeFi) community, NFT minting and the creation of decentralized applications (DApps).
Rocketize’s utility governance token, Rocketize (JATO), will be used to reward NFT coins, make decisions on Rocketize DAO, and participate in Rocketize’s gaming sphere with gaming DApps. It will also act as a digital currency for exchange on the Rocketize network. In addition, the team behind the Rocketize (JATO) token plans to create a cross-chain bridge to connect a number of networks, including Fantom, Polygon and xDAI, to maximize the use of its wide DeFi space.
Open Source Blockchain – Filecoin
The Filecoin platform is an open-source blockchain-based storage network based on distributed ledger technology. It is designed to allow users to store data across a decentralized peer-to-peer network of computers. Filecoin’s original token, Filecoin (FIL), is a cryptocurrency based on the proof-of-replication and proof-of-spacetime blockchain. The purpose of this token is to serve as an incentive for miners who contribute their resources to store data on the network.
The main difference between Filecoin (FIL) and other cryptocurrencies is the PoRS cryptography. This algorithm allows secure storage of files without using central servers or cloud storage providers. This gives users greater control over their data, as well as more privacy.
The Internet Scale Blockchain – Elrond
Elrond is a blockchain protocol known as an ecosystem for Decentralized Finance (DeFi), FinTech and the Internet of Things (IoT). This protocol uses Ethereum as its built-in smart contract platform, but it does not rely on Ethereum for functionality or performance. Elrond can be used to create decentralized applications (DApps) that are fully decentralized, secured by consensus, and do not require any third-party service provider. Elrond also boasts fast transactions through cutting.
Elrond (EGLD), the original cryptocurrency of the Elrond protocol, can be used for staking, payment of network fees, and reward of validators, making it a viable contender as a payment method in a rapidly growing ecosystem. Elrond (EGLD) is designed with scalability in mind, so it should not only be able to handle high transaction volumes, but also allow for growth over time. Cryptocurrencies have been a hot topic in the news lately, although the market remains highly volatile. Rocketize (JATO) has the potential to grow at an exponential rate and could become very popular this year.
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