5 PROMISING NEW CRYPTO CURRENCIES TO DISCOVER IN 2021

At the start of 2021, it is estimated that nearly 8,500 crypto currencies are in circulation, which is considerable. Although 75% of the cryptocurrency capitalization is concentrated in Bitcoin and Ethereum, there are many other virtual currencies with an interesting profile. Emerging crypto currencies mainly concern mid-capitalization virtual currencies. Here are 5 crypto currencies with high potential and little known to discover.

USD COIN: A STABLE COIN INDEXED TO THE DOLLAR

In February 2021, USD Coin is the 12 th crypto global currency, capitalized $ 8 billion. This cryptocurrency is based on the Ethereum blockchain   and serves a main objective: the stability of the price of the USD Coin. We also talk about stablecoin.

Effectively, the USD Coin is 100% pegged to the dollar, in other words: 1 $ = 1 USD Coin. This cryptocurrency (token) has been issued by the Circle Company since 2018, a company partly owned by Goldman Sachs. For every USD Coin in circulation, Circle insures the equivalent in its reserves. At the start of 2021, the number of USD Coins (8.25 billion at the start of 2021) in circulation thus fully corresponds to the capitalization of the virtual currency.

Its success is thus based on the digitization of the dollar. The speed of Blockchain-based USD Coin exchanges has enjoyed significant success since its launch.

AAVE: A NUGGET OF DECENTRALIZED FINANCE

Aave is in the top 20 of the crypto world currencies (18 th ), capitalized 4 billion. Aave is a very special virtual currency, often considered as the promising cryptocurrency of decentralized finance.

Aave was launched in 2017 by Stani Kulechov and is also based on the Ethereum Blockchain. Aave makes it possible to borrow and lend crypto currencies without an intermediary. Credit intermediaries are replaced by smart contracts. If the conditions are met, loans are made without intermediaries thanks to the Aave system.

In the Aave system, lenders charge interest. There are two types of loans: flash loans which do not require collateral. The other feature that is often more popular is credit delegation. In this system, borrowers can thus use virtual currency as collateral to take out a loan. Loan operations are carried out with a system ensuring the creation of legal agreements (OpenLaw), which can then give way to legal recourse in the event of a dispute.

To date, these loans are particularly useful and widespread among users who know each other beforehand. At the heart of possible future financial practices, Aave has enjoyed excellent momentum in recent months.

DASH: A CRYPTO FOR FAST, ANONYMOUS AND LOW-COST TRANSACTIONS

Dash is the 34th crypto world currency with over 2 billion capitalization. Dash is approaching crypto currencies like LiteCoin with the ambition of allowing faster and above all anonymous transactions, based on the Bitcoin Blockchain. Dash thus ensures the sending of instant funds by improving the Bitcoin Blockchain system.

Created in 2014 by Evan Duffield and Kyle Hagan, Dash has not experienced the same enthusiasm as Bitcoin or LiteCoin in recent months, but has advantages of use.

ELROND (EGOLD): A CRYPTO CURRENCY IN REFERENCE TO GOLD

Elrond is a fairly publicized medium cryptocurrency. With a market capitalization of $ 1.8 billion, Elrond (eGLD) is in the top 50 global cryptomonnaies (44 th ).

Elrond is a cryptocurrency co-founded in 2017 by Benjamin Mincu, Lucien Mincu. This smart contract platform aims to provide extremely fast transactions to enable the development of decentralized finance systems and the internet. Simply put, eGold is a virtual currency based on the Ethereum Blockchain without the problems of the Ethereum Blockchain. The reference to gold is not without merit. The limited amount of egold in circulation (31,415,926) ensures a certain scarcity.

In addition, the Elrond Blockchain is based on a Proof of Stake. Thus, this token can be staked (it pays users who have blocked a certain amount of EGLD). This token has seen a good emerging dynamic in recent months and has accumulated 80,000 users and 1.2 million transactions in just 140 days of existence. The proposed solutions and the network effect place this cryptocurrency in an interesting dynamic. In early September 2020, its price was nearly $ 18, up from $ 120 in February 2021.

DECRED: A HYBRID BLOCKCHAIN VIRTUAL CURRENCY BASED ON PROOF OF STAKE AND PROOF OF WORK

In recent months, Decred has enjoyed very good momentum. With an estimated capitalization of $ 1.6 billion, Decred (DCR) is in the top 50 world currencies crypto (47 th ).

Decred (DCR) is a virtual currency that appeared in 2016. Its particularity is to present decentralized governance, which is to say that the community approves all transactions. Indeed, Decred is based on a hybrid Blockchain system of Proof of Stake and Proof of Work.

Each block must be mined and then validated by at least three users paid for their participation in the network. This ensures low transaction costs and better system efficiency compared to the Bitcoin Blockchain. The system is open to all DCR holders purchasing an entry ticket

Thus, the protocol is organized in such a way as to avoid manipulation of the network by large holders. The Decred community thus plays a central and decentralized role in the success of virtual currency. Decred is also a cryptocurrency issued in limited quantity.

Like Bitcoin, the Decred cryptocurrency is limited to 21 million units (60% are in circulation to date). Decred has gained attention in recent months by benefiting from a powerful catch-up effect (price multiplied by 8 between early 2020 and early 2021).

Sahilhttps://quitewish.com
Sahil a expert content creator and SEO expert having Proven record of excellent writing demonstrated in a professional portfolio Impeccable grasp of the English language, including press releases and current trends in slang and details.

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