The market is on the dip these days. This is considered a good opportunity to jump into a potential project. But traders wonder which one has the huge potential to join in, and which one is just a scam.
A Chain Of Blocks, a famous Youtube Channel focused on crypto, has highlighted the 2 hottest and most controversial altcoin projects, explain what they are, how they work, and why they’re gathering so much interest in this current market. We’ll take all this information and decide are these projects real or scams.
Waves.Exchange Token (WX)
The first project mentioned in the video is Waves.Exchange Token (WX). WX is the native governance token of Waves.Exchange is a decentralized exchange in the Waves ecosystem that has been successfully operating since 2017. A team of over 60 professionals with substantial experience in fintech and blockchain is working on the project.
They just had their whole thing with viruses. But this project definitely rebounded. Their stablecoin has rebounded. This is a pretty cool spot because you can use your email to just log in and don’t need to create another account or have another blockchain address. You can do it very easily with Waves, just using your email account so once you log in, it’s going to look very similar to other exchange sites that you have gone to.
You can take advantage of it and they’re doing is rewarding you in USDT or USDN (Neutrino USD, the stablecoin of Waves), but you are getting WX tokens as well. You can come to stake this as well for additional rewards.
A lot of newer blockchains are locking up a lot of total value on their DeFi ecosystem and the reason why they’re doing it is that they’re encouraging people to come with some pretty decent rewards on stablecoin. So this is the first hot altcoin project that is really gaining a lot of interest in the DeFi community.
The second altcoin that we will have a look at is Bitgert (BRISE). Bitgert (BRISE) is a crypto engineering project launched in July 2021 that specializes in blockchain products and auditing solutions. Initially, Bitgert was built on BNB Chain and used BNB, its native token, to pay rewards.
However, one of the most significant Bitgert developments was presented in 2022: the BRC20 blockchain. It offers near-zero gas fees and high-speed cross-chain transactions. More specifically, the gas fee is $0.0000000000001 per transaction, while the supported throughput is up to 100,000 TPS.
They have built something called BRC-20. That is similar to ERC-20 and integrates well with BEP-20 as well, but they have their own blockchain. They have built and it works off of a proof-of-authority consensus mechanism, different than proof of stake.
They claim 70,000 transactions per second, which is absolutely insane. A lot of people are taking notice of those high transaction times and wanting to build on there and this community is really coming up. If you look at the price of this token, its all-time inception is up just a crazy amount.
This project is gaining a lot of interest and one of the reasons is if you come over here pass the website to their actual staking app. So you can get BRISE on Binance.
But there is a little uncertainty: we don’t know the total supply. This is a proof of authority network which will allow for very high transaction speeds because it’s a very closed delegated validator network that is based on the overall authority of the specific validators.
It is good and bad in specific ways, but it’s not the most decentralized way to do things but it does have its definite advantages. BRISE is not a scam. “It’s not the most decentralized way have but I don’t think it’s a scam.”, Jason, host of A Chain Of Blocks emphasized.
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