5 Cryptocurrencies To Keep A Watch On: DYDX (dydx), IOTA (MIOTA), Fusion (FSN), Komodo (KMD), OKB (OKEx)
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Summary:
- A summary of DYDX, MIOTA, FSN, KMD, OKEx.
- Perpetual trading, NFTs, Virtual worlds.
- Proof of work, proof of stake, proof-of-history, delayed proof-of-work.
The DYDX Platform
Dydx is a decentralised trading platform that is used for cryptocurrency margin trading for assets such as ETH, BTC, SOL, DOT and more. The bulk of the trading happens on the Ethereum blockchain, however, with the recent launch of layer 2, the Dydx exchange can be used for inexpensive, instantly settled trades. Dydx has successfully filled a niche market in the world of cryptocurrencies.
Dydx is a leading crypto exchange that supports perpetual trading. It trades on the ethereum block chain using smart contracts and no intermediaries.
Perpetual trading on cryptocurrencies are financial derivatives that enable traders to bet on crypto asset price movements, using leverage without owning the underlying asset. Some advantages of using this method are:
- Increased flexibility of trades by allowing both long and short trades.
- Increased leverage.
Dydx is aiming at trading for everyone. They are building an open platform for crypto financial products, which is powered by the Ethereum blockchain.
The IOTA Platform
The IOTA pl​​atform is a distributed ledger: it isn't actually a blockchain. Instead its proprietary technology is known as Tangle, which is a system of nodes that confirm transactions. The foundation that this platform rests on claims it offers greater speeds than conventional blockchains - a footprint that is ideal, especially in the ever-expanding Internet of Things ecosystem.
Due to the fact that it is not a blockchain, IOTA does not have miners and therefore does not have any fees. Many networks that are established see costs inflate as congestion on the network intensifies, however IOTA aims at providing limitless throughput at minimal expenses.
Read more: Altcoins: IOTA (MIOTA) - What Is It? - A Deeper Look Into the IOTA (MIOTA) Platform
The Fusion Platform
Fusion describes itself as an all-inclusive blockchain based financial platform that offers cross-chain, cross data source and cross-organisation services through making use of smart contracts.
The Fusion project makes use of the Hierarchical Hybrid Consensus Mechanism (HHCM), which amalgamates elements from proof-of-stake (PoS), proof-of-work (PoW) and parallel computing, this is done with the goal of creating a safe and efficient platform.
Fusion leverages Distributed Control Right Management (DCRM) as an extra layer of security, DCRM protects crypto assets on the Fusion blockchain. The distributed storage and sharding of a private key ensures that no single node has the ability to gain control of assets.
Fusion also provides for multiple triggering modes, such as event-based and time-based triggers, these are included in their smart contracts, which were designed to meet the demands of complex smart contracts.
The Komodo Platform
Komodo is an open-source technology provider that offers enterprises and developers all-in-one blockchain solutions. Komodo builds technologies that make it possible for anyone to launch cross-protocol financial applications, branded decentralised exchanges and independent blockchains.
Komodo’s flagship, end-user application is AtomicDEX which is a non-custodial multi-coin wallet, bridge and DEX rolled into one app. AtomicDEX is compatible with 99% of the cryptocurrencies currently in existence and offers the widest cross-chain, cross-protocol trading support of any decentralised exchange.
Komodo is the creator of the delayed proof-of-work (dPoW) which is the industry-leading 51% attack security network. Powered by Litecoin cross norarisations and is backed by a notary node network, currently dPoW secures more than 30 blockchains. Komodo also provides its own native multi-chain blockchain network that allows anybody to launch a blockchain of their own, that is independent of the Komodo blockchain, this blockchain is called a Komodo Smart Chain (KSC) and runs separately from the KMD chain. Each KSC has its own coin, has fully customisable parameters and faces zero gas fees.
Read more: Altcoins: Komodo (KMD) - What Is It? - A Deeper Look Into the Komodo (KMD) Platform
The OKB crypto platform
OKB is a cryptocurrency that was released by the OK Blockchain and Maltese crypto exchange, OKEx. The exchange is one of the largest in the world and is currently ranked third in terms of liquidity, fourth in terms of trading volume the platform also provides a wide variety of trading pairs for its users. OKEx is similar in many ways to the cryptocurrency giant, the Binance protocol, however, there are a few differences separating the two. The OKEx facilitates its own cloud mining services, and the company also has focused reach when it comes to providing trading options for its users.
OKB is the OKEx utility trading token, the token enables the platform's users to access the exchanges special features. The OKB token is used when calculating and paying fees, rewarding its users for holding OKB and to give users access to voting and governance within the platform.
Read more: Altcoins: OKB, OKEx- What Is It? - A Deeper Look Into the OKB (OKEx) Platform
Sources:fxmag.com
