Since their inception, cryptocurrencies have changed the way we view financial assets. Established with blockchain technology and backed by gold or fiat currency as the case may be, cryptocurrencies are defining the future of economies. Nonetheless, as with everything in life, they experience bad times too.
Periodic dips and crashes are not a new thing in the decentralised finance space. But the good thing is that while some coins never recover from their downfall, others will hit all-time highs as they rise. So, the tricky part becomes identifying which coins will regain value and investing in them, and the three coins we’ll talk about show more promise of doing so than others – Logarithmic Finance (LOG), Binance Coin (BNB) and Ripple (XRP).
Logarithmic Finance (LOG)
Logarithmic Finance (LOG) has gained popularity recently because of its innovative features that promise many benefits for investors who have a reasonable stake in its platform. Logarithmic Finance (LOG) is a next-generation swap protocol platform that enables users to trade their cryptocurrencies for other asset classes across different blockchains.
Logarithmic Finance has its roots in Layer-III swap technology, which makes it dissimilar from other blockchain networks such as Ethereum. With Web3 technology gaining more acceptance, LOG will likely be the major swap protocol that will provide users with the flexibility they need to make transactions across several networks.
While Logarithmic Finance (LOG) is still in its presale stage, what we know about its algorithm is so interesting that it’s gained everyone’s attention. It adopts homomorphic encryption to keep transactions on its blockchain secure, and with the risk associated with swapping cryptocurrencies on other platforms, this feature is one to grab on to.
Its token LOG is the native coin of the platform and will form the basis for transactions on its blockchain.
Binance Coin (BNB)
Binance Coin (BNB) has been around for a while and it’s currently the most popular cryptocurrency trading platform in the decentralised finance world. The Binance chain has partnered with multiple blockchains across the DeFi ecosystem and the metaverse.
And bearing the limitations of its original algorithm in mind, Binance’s inventors created the Binance Smart Chain (BSC). Its traditional token, the Binance Coin (BNB), forms the foundation of most transactions taken in this space. The platform houses several decentralised applications and offers speed and ease of transaction to its millions of users.
Since its inception, the Binance token, BNB, has had over 168 million of its units circulated among users. And Because of its relatively new technology, Binance Smart Chain has the potential to remain a valuable platform in the crypto market for a very long time.
Ripple (XRP) is a blockchain network that’s been around for about a decade. It functions as both a cryptocurrency, XRP, and a blockchain network that allows for DeFi transactions.
Ripple (XRP) became more popular in 2018 as it was launched as a stable platform then. Invented by Chris Larsen and Jed McCaleb, the platform’s main emphasis is on coin swaps and asset class exchange between users. Ripple shares a similarity with many blockchain networks because of the use of its token, XRP, as an intermediate value asset during transactions.
Unlike most other DeFi exchange systems, Ripple’s algorithm isn’t dependent on blockchain mining. It utilises a consensus mechanism to execute transactions. This process takes place on servers of top global banks, is relatively more secure, and very fast.
The Logarithmic Finance Token (LOG), Binance Coin (BNB) and Ripple (XRP) are trending cryptocurrencies that could be interesting to take a closer look at during the dip. They can show more than enough potential to rise and yield returns for your portfolio when you buy them.
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