Did QUBE Prove To Be A Better Buy Than XRP And SHIB?
The cryptocurrency market has witnessed a notable surge in investor activity amid the launch of many new projects. These new altcoins offer unique and innovative features that are not provided by pioneering blockchain projects like Bitcoin and Ethereum. The XRP Ledger’s native token, XRP acts as a bridge between the hard-to-pair fiat currencies while SHIB is a meme token backed by multiple cases.
However, a newly launched AI fundraising platform known as InQubeta (QUBE) is a new altcoin to watch out for. The project has achieved remarkable success during its presale event and has already amassed $2.9 million in funds. The ticker symbol QUBE represents the native token and offers several earning opportunities to its holders through staking, trading, and participating in the investment of AI startups. InQubeta’s project has not only appealed to the start-up community but also to investors of all classes due to its novel idea of fractional investment. Crypto analysts globally claim that QUBE might be the best cryptocurrency to buy for long-term gains.
InQubeta’s Crowdfunding Platform Aiming to Head the Cryptocurrency ICO List of the Year
InQubeta is the world’s pioneer cryptocurrency fundraising platform that allows investors to participate through the fractional investment route in AI startups. The platform aims to focus on the idea of investing, engaging, rewarding, and innovating to enable AI-driven startups to raise funds and engage with the community. Pumping the entire InQubeta ecosystem is its native token, QUBE, and an NFT-based marketplace where the startups can list their NFTs tagging them with rewards and equity to the company.
Potential investors can browse through the platform and purchase the NFTs of their choice using the QUBE token. The process is fairly simple. Once the purchase has been made, the corresponding startup receives the funds to propel their growth while the investors become a part of the profit sharing and get exclusive access to the products and services and/or equity of the startup.
The holders of the QUBE tokens have the right to participate in the governance of the InQubeta protocol. Users are entitled to the ability to propose, discuss, and vote on various aspects pertaining to the development and operation of the platform. QUBE Holders can also stake their tokens to earn rewards from the reward pool which is funded through the 5% proceeds from all the transactions within the network. QUBE being an ERC-20 deflationary currency ranks among the best cryptocurrencies to buy today. The token is currently priced at $0.013. Many security firms conducting audits have voiced positive reviews for the InQubeta platform.
Hurry and get a chance to be among the early adopters of InQubeta’s community-driven ecosystem by visiting the presale site to buy the QUBE token.
XRP: Public Blockchain with the ability to provide Quicker and Low-cost Payments
XRP is the in-house cryptocurrency of the XRP Ledger, which is an open-source decentralized technology designed to enable faster and cheaper payments. The XRP Ledger is the first to feature decentralized exchange (DEX) and custom tonalization abilities built into the protocol. The network has gained immense attention for its low cost, high speed, and scalable attributes in the cryptocurrency market.
The XRP token is a bridging currency and powers the entire XRP operation. It allows the users to conveniently convert one currency to another by using XRP as an intermediary token. This new altcoin is the top pick of many investors because of its ability to settle cross-border transactions in less than five seconds.
SHIB: A Meme Token Backed by Several Products and Services
SHIB is the native cryptocurrency of the Shiba Inu Ecosystem and is backed by several use cases. The ecosystem comprises three separate tokens: BONE, LEASH, and SHIB which the users can stake, exchange, or add to the liquidity pools on its decentralized exchange platform, ShibaSwap to earn incentives and rewards.
The power of governance is vested in the hands of BONE token holders. The Shiba Inu ecosystem has also recently launched its layer-two Ethereum-built blockchain network, Shibarium. Shibarium is designed to facilitate low-cost and efficient transactions while focusing on the burning of SHIB tokens.
Conclusion
These top three altcoins present themselves as investment-worthy picks with the potential to generate substantially high returns. However, InQubeta’s crowdfunding platform is the best altcoin currently if you are wondering what crypto to buy now for long-term returns.
Powered by the Ethereum network, the QUBE platform aims to revolutionize the AI startup industry by providing easy access to funds. The platform is designed to benefit both the investors and AI startups creating a democratic and accessible ecosystem. The QUBE token could potentially rise in value and prove to be a much better buy in the long term due to its unique utilities and decentralized governance structure.
Borroe ($ROE) Profits Prove It Is the Next Big Thing in the Market
Uniswap (UNI) and Aave (AAVE) have struggled to regain their footing in the bearish market. As investors count losses from the recent cryptocurrency market crash, Borroe ($ROE) has merged, offering investors lucrative investment opportunities. These opportunities guarantee massive profits for Borroe ($ROE), making it the best cryptocurrency to buy now. Let’s see whether AAVE and UNI can compete!
Aave (AAVE) Is Struggling To Remain Afloat
The crypto market turbulence persisted after the August 18, 2023, flash crash, as Bitcoin (BTC) traded below $26,200 without showing signs of slowing down.
On that note, AAVE recorded a 17% decline in the last four days. And it pushed its price down to the June lows ranging between $47 and $51. If Bitcoin’s price decline continues, Aave might further retreat as sellers target more downside movement.
Moreover, the absence of bullish momentum in Aave’s (AAVE) market was shown by the Relative Strength Index (RSI) entering the oversold zone, signifying a massive presence of bearish control.
In a 12-hour time frame on July 31, Aave’s (AAVE) market structure shifted to bearish. As sellers broke the bullish support established in early July. The bearish trendline in Aave’s (AAVE) market continued to guide the price downward until August 16, although AAVE bulls tried to hold their ground.
Analysts expect Aave (AAVE) to recover to end 2023 at $63.65 as more investors buy the current dip.
Uniswap (UNI) Markets Seeking Support to Avoid Further Drop
Uniswap’s (UNI) price displays a breakdown of the ascending channel and increasing selling pressure in recent trading sessions, signalling bearishness on the weekly Uniswap (UNI) charts. Uniswap (UNI) was trending lower even before the flash crash happened in the cryptocurrency space on August 18, 2023.
Uniswap (UNI) bullish investors appeared already fatigued due to the lack of any positive catalyst that would help push Uniswap (UNI) higher.
Analysts insist that Uniswap (UNI) has no inspiration in the near term. Hence, the token is expected to slide to $4.74 by the end of August 2023, meaning it is not an excellent crypto to buy currently.
Borroe ($ROE) Profits Prove It Is the Next Big Thing in the Market
Borroe ($ROE) stands as the pioneer web3 blockchain invoice discounting NFT marketplace globally. As a decentralized fundraising platform, Borroe ($ROE) assists Web3 users and businesses to quickly raise capital by trading their upcoming earnings.
Borroe ($ROE) investors can convert their upcoming royalties, invoices, subscriptions, and digital payments into non-fungible tokens (NFTs). Which they can then offload to supportive communities at discounted rates.
Additionally, buyers can leverage a strong peer-to-peer (P2P) system to resell these NFTs on secondary markets.
Borroe ($ROE) has recently received verification from BlockAudit, confirming the platform’s immunity against cyberattacks and malware threats. Also, Borroe ($ROE) has publicly revealed its smart contract address to boost transparency and openness.
Borroe ($ROE) is currently in Stage 1 of its presale, valued at $0.0125. So far, Borroe ($ROE) has sold over 41 million tokens. On that note, Borroe ($ROE) is scheduled to hit the mainstream crypto market and sell for $0.0400 when the presale is completed.
This lucrative price action is scheduled to deliver a growth of 300% for early $ROE investors and 220% ROI to those who buy in Stage 1. It makes Borroe ($ROE) the best cryptocurrency today.
Learn more about Borroe ($ROE) here:
Visit Borroe Presale | Join The Telegram Group | Follow Borroe on Twitter
XRP Price Plunges Amidst Traders’ Profit Exodus – Will $0.54 Prove a Make-or-Break Level?
The recent judgment in the SEC vs Ripple case has left crypto traders intrigued about the XRP market. With the pronouncement that XRP is not a security, the price surged beyond its previous resistance levels of 54 and 58 cents, reaching 95 cents on Thursday. However, profit-taking on Friday led to a retracement to 66 cents, tempering the enthusiasm of the XRP bulls. Nonetheless, the bulls still hold the upper hand, though the battle with the bears remains fierce.
A well-known digital analyst and host of the Cheeky Crypto YouTube channel offered insights on the XRP price analysis. The analyst suggested that the short-term poses challenges for the XRP bulls, as traders who had been accumulating before the Ripple case ruling are now capitalizing on their profits. Nevertheless, the analyst believes that those who bought at the recent rally’s peak may still have a chance to make a profit in the coming months.
From an Elliott wave perspective, the analyst highlighted the possibility of an ABC correction, potentially driving XRP below 60 cents in the weeks ahead if the bulls fail to reclaim levels above 95 cents in the near future.
Furthermore, the analyst pointed out that XRP has been confined within a rising channel over the past year, and the recent push by the bulls has taken the price to the upper boundary of this channel. Consequently, a correction toward the supply and demand zone between 54 and 58 cents is anticipated.
As the XRP market navigates the aftermath of the Ripple case ruling, traders are eagerly observing whether the bulls can sustain their momentum or if a correction is imminent. While uncertainty looms, the XRP price remains subject to the tug-of-war between the bullish and bearish forces in the market.
Ripple vs SEC: Examining the SEC’s Strategy to Prove XRP is Security
The Ripple vs SEC lawsuit is heating up as we draw closer to the final ruling. The crypto industry is eagerly anticipating the outcome as it’s expected to set a precedent in the US. The main point of contention is whether XRP is a security, as claimed by the SEC, or a token, as claimed by Ripple.
With the legal battle having started in 2020, numerous predictions and opinions have been offered. Recently, Bill Morgan has provided insight into the SEC’s strategy for proving XRP’s security status. Stay tuned for more updates on this exciting legal saga.
Examining the SEC’s Approach and Ripple’s Defense in the XRP Security Debate
Ripple’s General Counsel Stuart Alderoty criticized the SEC for substituting concepts and equating common interests with a common enterprise. This prompted lawyer and crypto enthusiast Bill Morgan to speculate on how the SEC plans to label XRP as security and potentially harm the crypto industry.
Morgan suggests the SEC is stretching the Howey test by expanding the definition of “common enterprise” to avoid linking it to specific transactions, focusing on the adjective “common” instead. He believes the SEC aims to argue that a common interest alone is sufficient.
Morgan further explains that the SEC, in its summary judgment motion, highlights instances where Ripple promoted the alignment of its interests with XRP holders. If this evidence is deemed insufficient, the SEC resorts to the fungible argument, according to a legal expert. The argument rests on the idea that all XRP units are interchangeable and experience similar fluctuations, which the SEC claims establishes a common enterprise, even though it is merely a common interest.
Morgan notes that Ripple’s legal team challenged the fungible argument by citing gold as an example in their summary judgment motion. He warns that if the SEC is allowed to reduce common enterprise to the common interest, it could apply the fungible argument to other cryptocurrencies as well, setting a dangerous precedent. Morgan believes this could result in significant harm to the crypto industry.
The Ripple vs SEC lawsuit’s outcome holds significant implications for the crypto industry, as the SEC stretches the Howey test to prove XRP’s security status. The verdict could set a precedent impacting the regulatory landscape and shaping the future of cryptocurrencies in the US. The industry anxiously awaits the final ruling.
Ripple Vs. SEC: Here’s Why A Settlement Could Prove Disastrous
As people wait for the judgment in the lawsuit between Ripple and the SEC, the topic of conversation right now is all about the case. It has been much too much time. To be exact, two years had passed. And I think I speak for everyone when I say that we all can’t wait until it’s over.
In the meanwhile, there is a great deal of heated conjecture going on in the community on the potential result of the case. There are a lot of people rooting for Ripple to win. However, there are those people who are concerned that the SEC will prevail, just as it did in the LBRY case.
US Congress Candidate Highlights the Importance of Ripple Beating SEC
Ripple’s decision to fight the United States Securities and Exchange Commission (SEC) in the ongoing litigation rather than try to reach a settlement was recently brought to light by the United States politician and Congressional candidate from Utah January Walker. Walker emphasized the significance of Ripple’s victory over the SEC in the latest tweet.
Walker believes that the world and the Web3 scene will suffer as a result of Ripple’s potential decision to settle. Walker is well-known for her support of blockchain technology and cryptocurrencies, and in September of this year, she referred to Cardano as an effective chain.
The rest of the world closely watches what the United States of America does, and according to Walker, a precedent is established based on how the government deals with only one issue.
She went on to say that rather than engaging in competition with one another and arguing that our own organizations are superior to others, we need to collaborate on the development of appropriate laws.
The information on a possible settlement for Ripple was provided by Charles Hoskinson, the inventor of Cardano. In one of his AMA videos on social media, Hoskinson made the startling assertion on the contentious legal battle that is taking place between Ripple Labs and the United States Securities and Exchange Commission (SEC).
In his words:
“I’ve heard rumors that the Ripple case will be settled on Dec. 15. And we’ll just see, and that could have catastrophic implications for the industry, one way or the other.”
Walker, on the other hand, isn’t convinced that the government agency has a solid case against Ripple. She claims that if the SEC had such a rock-solid case, they wouldn’t be willing to negotiate a settlement at this point. Having said that, there is a possibility that the news of the settlement is not even accurate. But, in any case, let’s see.
Bottomline
It is no joke that if Ripple were to lose its case against the SEC, it would seriously cripple the whole sector. It is expected that the outcome of this case will have a huge bullish impact on the value of XRP if Ripple prevails. I can’t help but wonder what would take place if XRP were to be recognized as a security in a legal capacity.
In April 2021, the CEO of the company, Brad Garlinghouse, gave an interview to CNN in which he stated that the company is prepared to continue operating without the XRP in the event that it is unsuccessful in its legal battle against the US regulator, which asserts that XRP is a security and the company illegally sold the crypto to investors. It’s safe to say that I share the enthusiasm of everyone else in the crypto world for Ripple’s success.
ICOs Generate Millionaires. MATIC And AVAX Prove It; Oryen Network Will Be The Next One
Practice used by DeFi enterprises; new cryptocurrency companies with their native asset usually sell units of their maximum supply to eager investors and the general public at a discounted price before the official debut of the company as a way of funding development and allowing the general public to access these decentralized systems.
The buyers of their coins who keep their assets in the staking pool without selling are known as liquidity providers, and the money they have locked there helps the business run smoothly. The liquidity providers also receive rewards for their passive involvement, and as such, they take part in the network’s governance procedures. This process of selling a piece of a project before launch is called an Initial Coin Offering (ICO).
When a firm opens formally, the value of its native coins frequently climbs, driving up market prices significantly.
When combined with their earnings from staking, investors who purchased the currency very early on at its pre-launch price frequently see significant returns in their portfolio. There is no question that many become millionaires because they profited from believing in the cryptocurrency firm and purchasing at a low price.
MATIC and AVAX
This has been demonstrated by the cryptocurrencies MATIC and AVAX. Investors who purchased large quantities of these coins during pre-launch and patiently awaited the debut will experience compounding returns that will propel them into the top 10% of earners in the Defi sector.
The Polygon network’s native currency is called MATIC; it had a pre-launch price of less than one cent, or $0.01, in 2019, and it traded as high as $3.0 in 2021. This implies that anybody who purchased the currency at the floor price would have become a millionaire doing nothing in around two years! Simply purchase coins, then wait.
AVAX, the operational token on the Avalanche network, a cryptocurrency startup founded a few years ago as a proof of stake blockchain platform, traded at a floor price of roughly $2.80. Investors who took advantage of buying at that price are undoubtedly millionaires today, as its price has since traded up to about $145.
Oryen Network
The Oryen Network plans to proceed in the same manner. Given its long-term utility, ORY, the native token of the Oryen Network, a blockchain platform that enables automatic staking for liquidity providers, is now in its pre-launch stage and gaining value weekly.
Given that Oryen’s protocol ensures that liquidity providers will earn an APY of 90%, there are high hopes for the ORY to defy and surpass previous DeFi platforms’ profit records.
The Oryen family will undoubtedly produce a large number of millionaires, but they will be the ones that take advantage of the present initial coin offering to the fullest.
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Chainlink, Cosmos, Toon Finance Are 3 Crypto Assets That Prove To Be Unbeatable During this Bear
It’s no secret that the crypto market has been in a bit of a slump lately. investors are feeling skittish and many are taking their money out of the market. However, there are still some crypto assets that are holding their own and even seeing some growth. Here are 3 examples of crypto assets that have proved to be UNBEATABLE during this bear market.
Chainlink (LINK)
In the world of cryptocurrencies, there are always new assets and technologies emerging that have the potential to change the landscape as we know it. One such asset is Chainlink (LINK). LINK is a decentralized oracle network that provides reliable data to smart contracts on the Ethereum blockchain. The demand for data-driven smart contracts is only increasing, which is good news for Chainlink. Let’s take a closer look at what makes this technology so special.
What is an Oracle?
An oracle is a third-party service that supplies external data to a blockchain application. This data can be anything from stock prices to weather conditions. Smart contracts rely on Oracles to trigger their execution because they cannot access this data on their own.
Oracles can either be centralized or decentralized. A centralized oracle gets its data from a single source that is controlled by a single entity. A decentralized oracle, on the other hand, gets its data from multiple sources that are all controlled by different entities. This makes decentralized Oracles much more resistant to tampering and fraud because it would be impossible for a single entity to change the data across all sources.
What is Chainlink?
Chainlink is a decentralized Oracle network that supplies reliable data to smart contracts on the Ethereum blockchain. It does this by connecting blockchain applications to off-chain resources like APIs and data feeds in a secure and tamper-proof way.
One of the advantages of using Chainlink is that it allows developers to create smart contracts that are triggered by real-world events. This opens up a whole world of possibilities for how blockchain technology can be used. For example, imagine being able to create a smart contract that automatically pays out insurance claims when severe weather conditions are detected in a certain area.
Chainlink has been described as the “Internet of Blockchains” because it has the potential to connect any blockchain application with any off-chain resource in a secure and tamper-proof way. The sky truly is the limit when it comes to what Chainlink can do!
The demand for data-driven smart contracts is only going to continue to increase as we move into the future. Chainlink is at the forefront of this emerging technology and stands to benefit greatly as the demand for Oracles grows. If you’re looking for an asset with long-term potential, Chainlink may be worth considering!
Cosmos (ATOM)
There’s no denying that the past year has been tough for crypto. The prices of Bitcoin and Ethereum, the two largest cryptocurrencies by market capitalization, have both declined significantly since their all-time highs in December 2017. However, there are a few bright spots in the crypto world, and one of them is Cosmos (ATOM).
Cosmos is a decentralized network of blockchains that can scale and interoperate with each other. The Cosmos Hub, the first blockchain in the network, launched in March 2019 and has seen consistent growth since then. Recently, Cosmos was added to the Coinbase Pro exchange, which is giving it even more exposure. Here’s a look at why Cosmos is one of the few assets to withstand the bear market.
1)The Cosmos Hub is the first blockchain in the network and it launched in March 2019. The team behind Cosmos has been working on the project for several years, and it shows in the quality of the product. The hub supports multiple consensus algorithms and provides an easy way for developers to launch their own blockchains. Since launch, the hub has been growing steadily and recently surpassed 500 validators. That’s impressive considering that most Proof-of-Stake networks have less than 100 validators.
2) One of the reasons why Cosmos is doing so well is because it addresses a major problem in the crypto space: scalability. Blockchains like Bitcoin and Ethereum can only process a handful of transactions per second due to their Proof-of-Work consensus algorithm. This limitation has resulted in slow transaction speeds and high fees on these networks. In contrast, Cosmos can handle thousands of transactions per second thanks to its Proof-of-Stake consensus algorithm. This makes it ideal for applications that require fast transaction speeds, such as payments or exchanges.
3) Another reason for Cosmos’s success is its Inter-Blockchain Communication protocol (IBC). This protocol allows blockchains to communicate with each other, which opens up a whole world of possibilities. For example, IBC could be used to connect different DeFi protocols so that they can interact with each other directly. Alternatively, IBC could be used to create synthetic assets that track the price of real-world assets like stocks or commodities. The sky’s the limit when it comes to what IBC can do, and that’s why many people are excited about its potential.
Cosmos (ATOM) is one of the few assets that has been impervious to the bear market. ATOM is a decentralized network of blockchains that can scale and interoperate with each other. The Cosmos Hub, the first blockchain in the network, launched in March 2019 and has seen consistent growth since then. Recently, Cosmos was added to the Coinbase Pro exchange, which is giving it even more exposure. If you’re looking for a bright spot in crypto, Cosmos is definitely worth keeping an eye on.
Toon Finance (TFT)
What is Toon Finance?
Toon Finance is a protocol that enables users to mint, buy, sell, and exchange NFTs on the Ethereum blockchain. Their mission is to create an ecosystem where people can easily connect with creators and collaborate on projects. Toon Finance was founded by a team of experienced entrepreneurs, developers, and designers who are passionate about blockchain technology and its potential to revolutionize the creative industry.
What is an NFT?
An NFT is a non-fungible token that represents a unique asset on the Ethereum blockchain. Unlike Bitcoin or other cryptocurrencies, which are interchangeable and can be divided into smaller units, NFTs are each unique and cannot be divided. This makes them well-suited for representing digital art, collectibles, or other items that are not easily replicated.
How Will the Airdrop Work?
The airdrop will take place over two rounds. In Round 1, 10% of the total supply of NFTs will be distributed proportionately to all participants who have contributed at least 0.1 ETH to the Toon Finance ICO. In Round 2, 5% of the total supply will be distributed proportionately to all participants who have contributed at least 0.1 ETH and have held their TOON tokens for at least 30 days prior to Round 2 beginning. The airdrop will happen automatically; there’s no need to do anything else once you’ve contributed to the ICO or held your TOON tokens for 30 days.
Don’t miss your chance to participate in Toon Finance’s exciting NFT airdrop! There’s still plenty of time to contribute to their ICO or hold your TOON tokens for 30 days (if you want to participate in both rounds). But act fast—after the presale ends, any unclaimed tokens will be burned! Visit their website today to learn more about how you can take part in this incredible opportunity.
Which of the Three is the Most Unbeatable?
Toon Finance has a successful stage 1 ICO presale, and with the airdrop to all their holders, this project has even yet to scratch the surface of their potential. Their focus on creating a truly decentralized protocol coupled with an amazing community with 24k members strong, they are the most to be the number 1 pick!
Toon Finance’s Potential
Toon Finance’s potential lies in their focus on creating a truly decentralized protocol. This means that there is no central authority controlling the network. Instead, it is run by the community of users who hold TOON tokens. This gives Toon Finance a level of decentralization that is not seen in other protocols such as Chainlink & Cosmos.
In addition, Toon Finance has an active and engaged community. There are currently over 24,000 members in their Telegram group. This kind of community support is essential for a project to succeed. The Toon Finance team is also very accessible and responds quickly to questions and concerns raised by the community.
Lastly, Toon Finance’s tokenomics are very attractive for investors. The total supply of TOON tokens is fixed at 1 billion. This token distribution ensures that there is enough liquidity for TOON to trade on exchanges and that the team will have enough tokens to drive adoption of the protocol.
Between Chainlink, Cosmos and Toon Finance, our vote would definitely go to Toon Finance! They have yet to scratch the surface of their potential and we believe they have what it takes to become the most successful protocols in the space. Thanks for reading!
Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.
‘SEC Has to Prove Every Element by the Greater Weight of the Evidence’
The SEC always believed that XRP is a security, and the agency was pretty confident about it passing the Howey Test. The Howey test determines whether a certain asset is an investment tool or not. Meanwhile, Ripple claims the SEC’s theory of XRP being an investment ignores the fact that the token is a digital asset with a functional ecosystem and a real use case. Hence, the XRP price does not satisfy the Howey test.
Ripple, ever since the beginning of the lawsuit, has argued that XRP is a currency, similar to other crypto assets like Bitcoin, Ethereum, Cardano, etc. Meanwhile, Attorney Hogan explains in a series of tweets why the SEC cannot just win the lawsuit based on one element of the Howey Test.
As per Hogan, the SEC needs to either prove all the elements of the test with evidence or else prove the absence of any dispute initially before winning a summary judgment. Hence, Hogan says that the SEC cannot win on the Howey Test based on the claim that the XRP holders expected profit based on the others.
He says that the SEC was believed to have provided some documents as evidence to display the involvement of Ripple and XRP holders in increasing the price. However, the agency abandoned its expert witness as it failed to prove the Howey test prong.
“Ripple counters the SEC with its own expert’s witness, who correlates XRP price action with market forces, especially since 2018. And Ripple apparently also files 3K affidavits from Deaton and XRP holders that they were NOT looking to Ripple to increase XRP price,”
The SEC has largely failed to offer any substantial evidence to prove that the XRP holders were relying on Ripple for the price to rise. However, Hogan also raises the possibility that Judge Torres may certainly not consider this evidence while granting the summary judgment. Therefore, with no clear proof against the elements of the Howey Test, the SEC may certainly fail here against Ripple.
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A Platform That Will Prove To Be More Decentralized Than Avalanche (AVAX)
Decentralization enhances security, privacy, and transparency in a cryptocurrency platform.
All these features empower users to be more independent and autonomous in their financial life.
Many crypto projects and platforms are striving to be more decentralized than ever before.
But in this quest for decentralization, some organizations have proven to be more decentralized than their counterparts.
We will review two platforms in this article, Avalanche (AVAX) and Blockonnet.
Both are decentralised platforms, but one surpasses the other in the aspect of decentralization.
Blockonnet – A Crypto Project With A Decentralized Financial System
Blockonnet is a crypto project that aims to create an ecosystem that will be not only decentralised but also interoperable from all angles.
This platform intends to assist cryptocurrency holders in storing their assets in a secured place.
As we know, cryptocurrencies are always at the mercy of natural calamities that befall wallets and platforms, poorly designed security, or hackers.
Therefore to tackle this issue, Blockonnet offers the opportunity to restore all crypto assets, which includes NFTs, seed phrases, pins, and other essentials, through a backup plan.
They also intend to use an advanced DAM system incorporated with blockchain technology that has evolved with time compared to how it was in its formative years.
Some features that will be included in these DAM systems are file storage blockchains that have the edge of decentralization over the custom file management solutions like CDNs.
In addition, there won’t be a tug of war over ownership rights because Blockonnet employs smart contract technologies instead of analog contracts that require human governance.
They believe that with Blockchain technology and DAM systems, they can achieve their vision of a world where everyone has sole ownership over their money and identity.
In addition, they have a non-custodial wallet that securely stores cryptocurrencies and enables individuals easy access to their assets.
Further, the wallet will encompass numerous ways to set up a transaction with different costs and speeds for each method.
Avalanche (AVAX) – A Decentralised Crypto Platform That Leverages Blockchain Technology
On the other hand, Avalanche is regarded as one of the fastest platforms in the DeFi space; it is an open-sourced programmable smart contract platform for dApps.
But beneath the Blockchain speed are some technicalities that have been left unattended, like security and transparency.
Avalanche (AVAX) is a secured platform, no doubt, because it operates on PoS instead of PoW, enabling it to have Sybil resistance.
Aside from that, it also utilizes blockchain sharding to secure staked assets.
But numerous times, the hackers exploit some vulnerabilities on the platform smart contract to cart away funds.
Some unchecked loopholes are ownership checks, missing signer checks, and external program validation failures.
Aside from those loopholes, Avalanche (AVAX) has a pretty good system that does all it can to protect the funds of users entrusted to their care.
In addition, they have a crypto wallet that is decentralized, secured, and simple to use, just like the Blockonnet network.
It supports a wide range of cryptocurrencies, which include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), AVAX, its native token, e.t.c.
The platform also allows users to manage NFT assets on their wallet interface.
Conclusion
The Blockonnet network is an upcoming project that aims to create a financial world that is truly decentralised, using cryptocurrencies as an enzyme to speed the process.
Avalanche (AVAX), on the other hand, is a household name in the industry and is regarded as the blockchain with the fastest smart contract.
Both platforms aim for decentralization, but Blockonnet will be more decentralized than Avalanche (AVAX) despite being an upcoming project.
Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.