Wednesday, February 1, 2023
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HomeNewsBusiness3 Tokens Changing the Crypto Landscape

3 Tokens Changing the Crypto Landscape

The blockchain and cryptocurrency industries continue to be amazingly innovative despite all the dread and gloom surrounding the current crypto winter. Since there isn’t any longer a constant media push for instantaneous production, it might even be simpler to create the next-generation of goods and services.

Uniswap (UNI -3.27%), Polygon (MATIC -4.08%), and BitDAO (BIT -2.52%) are three separate tokens that are revolutionising the cryptocurrency world, and I truly appreciate what I’m witnessing with them. Each of these tokens is changing the way we view cryptocurrencies and laying the groundwork for a more robust and sustainable crypto sector. Let’s examine each of these in more detail.

UniswapIt may come as no surprise that Uniswap is making news given the ongoing repercussions of the collapse of cryptocurrency exchange FTX. Uniswap is a decentralised exchange as opposed to FTX, which is a centralised exchange. For the typical investor trying to minimise the risk of keeping his cryptocurrency with a possibly unreliable exchange, this has a number of significant ramifications.

The fact that you will never have to retain your money on Uniswap in order to trade is the most significant of these effects. Instead, you retain your money in a private, secure blockchain-based digital wallet. To trade, all you need to do is link your wallet to Uniswap.

Another significant result is that you can trade a considerably wider variety of cryptocurrencies on Uniswap than you can on controlled exchanges.

This provides for a highly alluring value offer for Uniswap, especially when combined with cheaper pricing for the majority of cryptos.

Despite having a lot of rivals, Uniswap is still the largest decentralised exchange by trade volume worldwide. Additionally, it is a pioneer in the trade of non-fungible tokens and other digital assets (NFTs).

PolygonPolygon is a Layer 2 blockchain that was constructed on top of the Ethereum (ETH -3.88%) blockchain, which means that there is a very symbiotic relationship between the two. This is something that many investors might not be aware of. Security and stability are provided by Ethereum as a fundamental base layer.

Polygon claims it can process 65,000 transactions per second at a cost of just a fraction of a cent, offering faster transaction speeds, reduced expenses, and a better customer experience. Compared to Ethereum, this makes it exceedingly quick and cheap. Fast speeds, cheap prices, and complete compatibility with the Ethereum blockchain are all benefits of using Polygon.

In 2022, Polygon erupted onto the scene thanks to this unparalleled value offer. Throughout the year, the blockchain picked up a number of prestigious partners, including Disney, Starbucks, Meta Platforms, and Nike. They are all collaborating with Polygon on cutting-edge NFT projects, and this pattern seems destined to last through 2023. Starbucks, for instance, developed an

BitDAOBeing a decentralised autonomous organisation, BitDAO is distinctive (DAO). This simply means that it is a company whose structure is supported by a decentralised blockchain network. This corporation uses smart contracts to organise and post every decision and transaction to the blockchain.

This generates a great deal of openness and trust. Imagine having to post a comprehensive report of every activity made during the day to a public ledger for everyone to see. Your supervisor would be in the corner office.

While each DAO can be configured to achieve a variety of objectives, BitDAO is configured to make investments in various cryptocurrencies and blockchain initiatives. It resembles an investment club in many aspects, where you collaborate with investors from around the world to determine your next investment.

Once you have a BitDAO token, you can participate in this process by voting. On the BitDAO website, you can see some of the ventures it has backed, including a brand-new Layer 2 blockchain. If DAOs ever gain more traction, it might alter how we approach investment in blockchain and cryptocurrencies. The emphasis may change from investing in lone cryptocurrencies to blockchain projects and digital assets.

What is the best investment among these?These three cryptocurrencies all have intriguing long-term development possibilities and are among the top 50 by market cap. Uniswap and Polygon are currently excellent long-term investments. But because BitDAO is such a novel kind of crypto asset, the verdict is still out on it.

Therefore, Polygon and Uniswap could both be excellent strategies to diversify your cryptocurrency portfolio in 2023 if you currently own Bitcoin.



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