The Next Ethereum (ETH)? Nah – How Polkadot (DOT) & Parody Coin (PARO) Stand Out on The Market
Can crypto-investors find out the next Ethereum in the volatile cryptocurrency market?
Many cryptos are focused on a single purpose. Bitcoin (BTC), for example, is currently the closest thing to digital gold in terms of long-term value storage. So far, Ethereum (ETH) smart contracts have served as the backbone of the DeFi, NFT, and blockchain gaming markets. Ripple (XRP) was created to make low-cost cross-border money transfers easier.
They appear to be impregnable fortresses at the moment, and early investors would love to see them stay on top indefinitely. Challengers, on the other hand, are forming all around them, offering different technical solutions to the same problems.
One of the so-called Ethereum (ETH) killers may one day succeed in dethroning the smart-contract patriarch in order to create a more efficient and successful decentralized computing system. Perhaps a less energy-intensive proof-of-stake system, based on a more environmentally friendly approach will eventually dethrone Bitcoin (BTC). And a future Ethereum (ETH) version could very well perform international money transfers, as well as Ripple (XRP).
In the rapidly changing crypto industry, nothing is set in stone. Any project could be replaced by a better solution in a matter of seconds.
Polkadot (DOT) and Parody Coin (PARO), on the other hand, don’t participate in that game. Let’s delve into why these cryptos are so unique, particularly for long-term investors.
Polka dot (DOT)
Unlike any other network in the crypto sphere, the Polkadot (DOT) project is different. Polkadot (DOT) is laying the groundwork for the next generation of online business and communications by creating a cross-chain lattice of functionality. Polkadot (DOT) is more than crypto; it carries decades of transformative potential.
Polkadot’s (DOT) role in the crypto world is to act as the glue that connects all of the other blockchain protocols. Developers can create extremely sophisticated applications that take full advantage of each token’s distinct strengths in this way. If Ethereum (ETH) is the decentralized computing platform of choice, Polkadot (DOT) takes the concept of decentralized processing to a new level.
For instance, Polkadot (DOT) makes it simple to use Ripple (XRP) for fluid money transfers and an Ethereum (ETH) layer to process smart contracts along the way if you want to build a blockchain-based system that runs banking services on a global platform. If Ethereum (ETH) ever loses favour, Polkadot (DOT) already has fully Ethereum (ETH) compatible replacements available.
The parachains existing on Polkadot (DOT) are more than just a way to extend its functionality. The parachain approval procedure allows Polkadot (DOT) investors to crowdfund their favorite project candidates through a refined auction process. The same system also serves as a voting platform for determining the future direction of the ecosystem.
Parody Coin (PARO)
Parody Coin (PARO) is a lesser-known name on the scene, having entered presale only a couple of weeks ago. However, its White Paper has a bold vision to transform the NFT market as we know it – by making it more accessible to ordinary people, not just the super-rich, by introducing NFT ‘parodies’.
Owners of original NFTs can gain ownership of the parody NFT by burning or locking up the original, so the NFT market could completely shift to Parody Coin (PARO).
Holders of Parody Coin (PARO) will be able to earn passive income in four different ways. The first step is to make parodies of popular NFTs and sell them on the Parody marketplace. The second method entails profiting from the platform’s reflection system. By charging a 10% fee on each transaction, half goes directly to the holders, allowing them to profit from network activity with ease. Finally, holders can benefit from the platform’s rewards system as well as staking. As a result, holders of Parody Coin (PARO) benefit from multiple revenue streams all at the same time.
Parody Coin (PARO) also has cutting-edge features that no other altcoin can match. Holders can, for example, seamlessly exchange any crypto on any blockchain for the equivalent number of PARO using Parody Swap. Furthermore, the Parody Bridge allows holders to transfer their PARO to other blockchains for a minimal fee, resolving the interoperability problem that affects so many blockchains.
PARO is currently priced at $0.002, but as the presale approaches, the price is expected to soar. Holders of PARO who buy now could see colossal returns by the end of the year.
If you want to get in on another presale, Explora Chain (EXPL) could be for you. The mission of Explora Chain (EXPL) is to create a large-scale NFT marketplace with exceptional cross-chain interoperability. The Explora NFT Marketplace, according to its creators, will soon be a platform where users can trade NFT for crypto, NFT for NFT, and NFT for both NFT and crypto.
Explora Chain (EXPL) holders will be able to earn money from the start by participating in P2E gaming, staking, and investing in new crypto projects thanks to their BNB Launchpad.
Learn more about Parody Coin (PARO) here:
Learn more about Explora Chain (EXPL) here:
Disclaimer: The information posted in the article is for educational purposes only. By using this, you agree that the information does not constitute any investment or financial advice. Do conduct your own research and reach out to financial advisors before making any investment decisions.
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