These coins could change the crypto space
The Bitcoin is going round and round and the bulls are lurking once again in front of the magic 10000 USD border. However, the focus seems to shift after the third BTC Halving Event. The Altcoins are winning back valuable market shares. In the process, several alternative assets can attract attention and record independent price gains. We take a look at the hottest projects.
ChainLink with strong performance
In the past two weeks, LINK has seen its share price jump by more than 15 %. This means that the coin is continuing its outstanding performance from the first quarter. ChainLink currently ranks 14th in the crypto charts with a price of USD 4.44. But why do so many users trust the technology behind LINK?
The decentralized Oracle service Chainlink, aims to make smart contracts on the block chain compatible with the real world. The project makes use of so-called Oracle Contracts. Through “Oracles” it is possible to feed external data records into the block chain. The currency for converting these data transactions is called LINK. Chainlink would like to support, besides Ethereum, other smart contract service providers and relies on cross-chain transactions.
On-Chain components and Off-Chain components
The technology behind Chainlink is based on on and off chain components that perform different tasks. The on-chain components link the “Oracles” in the Chainlink system with the Smart Contracts. In a second step, the Oracles send the data records from the Chainlink block chain to other Smart Contracts on different block chains. The off-chain components of Chainlink contain the respective nodes in the ecosystem, which collectivise information from databases and save it in Oracle contracts.
Cardano and Shelley
It’s the Altcoin of the hour! Hardly a e other crypto-currency has been able to attract as much attention as Cardano in the recent past. In the last two weeks, the decentralized platform has seen its price rise by over 30% and secured a place in the coveted Top 10. Cardano is looking forward to its biggest update. The Shelley Project is considered an important milestone in the ADA roadmap. In this roadmap Shelley is presented as follows:
“The Shelley era encompasses the critical early steps in Cardano’s journey to optimize decentralization – and like any first steps, these will be gradual but significant. During the Byron era the network was federated, but as the Shelley era progresses more and more nodes will shift towards being run by the Cardano community. Once the majority of nodes are run by network participants, Cardano will be more decentralized and enjoy greater security and robustness as a result.“
Tezos convinces with staking programs
Tezos (XTZ) were able to make a name for themselves this year primarily through the effective dissemination of staking cooperations with renowned stock exchanges. Users who store their XTZ on Kraken, Binance or many other exchanges can receive an annual return of up to 6%. On Coinbase, for example, investors receive an annual interest rate of approximately 5 percent. On Binance this should be between 6-7 %. Staking programmes are popular systems that allow investors to increase their coin holdings. Tezos transfers the bonus coins to Binance at intervals of approximately three weeks. From there, the coins are distributed to the qualified users. Waiting times for octopuses are expected to be even shorter. Rewards can be paid out every Monday and Thursday. At the time of this article, XTZ is at number 11 in the crypto charts with a rate of 2.90 USD.