The cryptocurrency world is slowly taking over the traditional currencies we use.
If you’re not investing in it yet, we think it’s time for you to nurture it. Seize this opportunity while you still can. This will ensure that you do not regret it later. We advise you to make investments in cryptoDeFi which are among the best investments. Here are the top 3 cryptoDeFi’s.
The result of Emin GünSirer’s inventiveness, Avalanche is a platform specializing in smart contracts whose native token is AVA. Gifted with scalability and security, this ecosystem relies on its compatibility with Ethereum development tools to allow its users to establish smart contracts in solidity. It also allows the development of decentralised applications.
The Avalanche platform is also a true blockchain network. It comes with three different virtual machines: Avalanche Vitual Machine (AVM), Platform Virtual Machine (PVM) and EVM, which has been specially developed for Solidity. The first two virtual machines are used respectively to interpret smart contracts and to serialise all transactions.
The 3000% increase in its value by 2021, undoubtedly makes Avalanche one of the most important DeFi cryptos in terms of market capitalisation. Extremely fast, this crypto project is capable of handling up to 3400 transactions every second. As far as transaction confirmation time is concerned, it is 1.25 seconds.
The second place in this ranking goes to the DAI cryptographic project, a decentralised stablecoin with a potential that is far from negligible. With a value of $0.999, this cryptocurrency had a market capitalisation of almost $9.7 billion in January 2022. This power has earned it a place among the 20 strongest cryptocurrencies on the market, as it is present on the MarketDAO platform and is part of the Ethereum blockchain.
As far as its functioning is concerned, the IAD is based on a smart contract. Therefore, it can be generated from other digital currencies: this is the loan-debt mechanism. Thus, to obtain IADs, you can invest in other cryptocurrencies. This is the case with the Ethereum cryptographic project. Like its competitors, the DAI cryptocurrency can be purchased on various platforms. It is also possible to use it on the bitalpha ai platform for trading.
Uniswap is a decentralised finance (DeFi) project that also catches our attention. It is a decentralised exchange that uses, like the previous project, the Ethereum network. Uniswap was created by Hayden Adams in 2018. While its creation completely revolutionised the field of cryptocurrency trading, this ecosystem is, nowadays, the leader in the decentralised exchange (DEX) sector.
It is estimated that over $1 billion is traded on Uniswap every day. With its various versions (1, 2 and 3), this ecosystem offers the possibility to operate several types of exchange. These include the unique exchange of ETH and ERC-20 tokens and the swap between ERC-20 tokens only.
Uniswap’s native token, the UNI, is an ERC-20 token. Its value today is $8.30. By June 2022, experts estimate that there will be 719 million UNI tokens in circulation.
Wrapped Bitcoin (WBTC)
This is a wrapped token created to solve the problem of the impossibility of interactions between Bitcoin and other blockchains. The advent of Wrapped Bitcoin (WBTC) therefore allows transactions to be made to a network such as Ethereum at a reasonable cost and speed.
This type of transaction can be validated, for example, by a multi-signature wallet, a smart contract or a DAO. It should be noted that the Wrapped Bitcoin is an ERC-20 token whose value is identical to that of bitcoin.
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