In this episode of the BeInCrypto video news show, sponsor Jessica Walker will take a look at five altcoins that didn’t take a dive last week. These types of coins suffered the least extreme significant losses over the current weeks.
Previously known as the Matic System, Polygon is one of the first well-structured, easy-to-use platforms for Ethereum scaling and infrastructure development. Polygon effectively transforms Ethereum into a full-fledged multi-chain program, aka the Internet of Blockchains. This multi-chain system is just like other ones such as Polkadot, Cosmos, and Avalanche. However , it also has the advantages of Ethereum’s security, ecosystem, and visibility when it comes to protocol updates.
Polygon’s Plasma framework gives this the potential to house an unlimited amount of decentralized applications on the infrastructure. All this, without your normal drawbacks common on proof-of-work blockchains.
According to DappRadar data, Polygon additional 75, 000 active consumer wallets in just a single week. This additionally attracted $1 billion in sales volume. Meanwhile, the number of decentralized apps, or dApps, tracked upon Polygon has grown from 61 to 93. Open resource decentralized finance (DeFi) apps built on Polygon may also be finding their way on to other chains, including Binance Smart Chain and Ethereum.
Celsius is definitely an all-in-one banking and finance platform for cryptocurrency customers, launched in June 2018. It offers rewards for depositing cryptocurrency, along with services such since loans and wallet-style obligations. Users of the platform can also receive regular payouts and interest on their holdings.
Celsius’ native token, CEL, performs a variety of internal features, including boosting user payouts if used as the transaction currency. Although CEL hadn’t bucked the trend, we still find it impressive that it only lost 1% recently.
C originally came into being as the item of creators Alex Mashinsky and Daniel Leon within 2017. We actually evaluated Mashinsky in late 2020, which you can check out on our channel. Mashinsky has a long-running history in the internet development sphere, i have worked on the Voice Over Internet Protocol (VOIP) in the 1990s and other technologies since. C is far from Mashinsky’s 1st corporate venture, with seven startups and 35 patents to his name.
Harmony is another altcoin that will didn’t follow the majority of the crypto market. Despite shedding on Wednesday last week, it was actually up 4% on a weekly basis. So despite the fact that it’s daily loss was severe, it only fell back to the same level it was trading at the week earlier.
We dug a bit deeper into the Harmony blockchain and it is value proposition and were not surprised to find dApps included. The network aims to innovate the way decentralized applications work by focusing on random state sharding, enabling prevent creation in seconds.
Based on the project’s website, Harmony will be expected to introduce cross-shard contracts and a cross-chain infrastructure by the end of 2021. This has furthermore helped push prices in the past several weeks and could result in a further rally in 06.
Next on our list of cryptos that didn’t crash is VAI. This particular altcoin managed to gain 5% during the bloodbath, so we required a closer look. Irá claims to be the first decentralized stablecoin built on the Venus Protocol that runs on the Binance Smart Chain. It’s backed by a basket of stablecoins and other crypto assets with out centralized control.
The protocol itself introduces an straightforward crypto-asset lending and credit solution for the DeFi ecosystem. It enables users in order to directly borrow against guarantee at higher speeds and it has lower transaction fees. Venus also allows users in order to mint the VAI stablecoin on demand by adding at least 200% collateral into the Venus smart contract.
The last crypto on this list isn’t a coincidence. With so much talk of diamond hands during this crash, we had to have a coin focused on the diamond industry! GlitzKoin makes use of blockchain, smart contracts, plus machine learning to reduce danger and fraud for banks, insurers, and open market segments for the diamond market.
The team also claims to provide an ecosystem for diamond tracking and certification as well as a decentralized exchange for the trade associated with diamonds called DiaEx. During a period with massive falls across the board, GlitzKoin was up 75% and is one to watch in June.
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