Technology has completely changed the way we live. Whether routine professional endeavours or run-of-the-mill personal activities, we operate technology in some shape or form. You may use Microsoft Word or PowerPoint on your desktop if you plan a presentation. If you’re going for a run, you may utilize your fitness app to track the distance covered. Technology plays a crucial role in our day-to-day lives. In terms of innovation, few inventions are more valuable than the internet. A high volume of business is conducted online. During the pandemic, schools and universities shifted to online classes and employed applications like Zoom to teach their students.
The internet has myriad uses, but it has opened up other doors too. For instance, one cannot imagine a world where cryptocurrency would exist if it weren’t for the internet. You can trade tokens from your desktop or cellular phone, as long as you have internet connectivity. In other words, you have to be online to swap cryptocurrencies. Like the internet, cryptocurrency forever changed the financial landscape when it was launched in 2009. Cryptocurrency became a trillion-dollar industry a few years later as users chased lucrative transactions. However, in 2022, the “crypto winter” took place, and the cryptocurrency market suffered significant losses. How is the market faring now? To adequately answer that question, we will examine the following tokens: Ethereum (ETH), VeChain (VET), and Lynqyo (LNQ).
The Return Of The King — Ethereum (ETH)
If you want to gauge the market’s position, assessing the performance of the second biggest token is an effective way to go about it. Ethereum (ETH) is second only to Bitcoin, the original cryptocurrency and market leader. ETH has consolidated its position with a mouthwatering market capitalization of $198 billion and a price of $1626. In the last twenty-four hours, both figures have decreased by 1.2%. Ethereum’s daily trading volume is $17.6 billion.
Technically, Ethereum is a decentralized, open-source blockchain platform with its cryptocurrency called Ether. ETH facilitates plenty of cryptocurrencies and is used for enacting smart contracts. Like Bitcoin, Ethereum was first mentioned in 2013 in a white paper written by Vitalik Buterin, one of eight co-founders of the platform. Buterin and his associates raised $18.3 million through an online public crowd sale in 2014. ETH’s initial coin offering (ICO) price was 0.311 dollars, and over sixty million Ether was sold. Taking its original price into account, Ethereum’s price has quadrupled every year since its inception!
Ethereum was founded in Switzerland. Buterin became the face of the platform; he brought considerable experience from working for the Bitcoin Magazine website. Buterin is currently involved in the day-to-day operations at Ethereum. Other partners include Gavin Wood, who coded the primary technical implementation of Ethereum in C++, and Anthony Di Iorio, who was also involved in the development stage. The blockchain platform was unveiled by The Ethereum Foundation in 2015, using the codename “Frontier.” The protocol has gone through multiple iterations since then, but its objective has remained constant: to become a global provider of decentralized applications (dApps).
Furthermore, Ethereum has gained the reputation of being the pioneer of blockchain-oriented smart contracts. Smart contracts are aptly named since they are programs that automatically execute an accord between two parties. An advantage of smart contracts is that they eliminate the need for intermediaries, lower costs and enhance security. Additionally, the Ethereum blockchain hosts numerous tokens because the platform is equipped with ERC-20 standards. Ethereum has facilitated over two hundred and eighty thousand tokens, forty of which rank in the top hundred (BNB, Tether, and Chainlink).
Changing The Game – VeChain (VET)
VeChain (VET) is at 32nd place in the rankings, with a market cap of 2.16 billion and a token price of 0.025 dollars. Both values mentioned have fallen by 0.5% compared to yesterday. VET’s trading volume in the same period stands at 74 million, a significant rise of 17.6%. Now that we’ve seen the figures, we’ll examine the facts.
VeChain is an adaptable, enterprise-level, layer one smart contract cryptocurrency. The platform was launched in 2015 as a private consortium chain. The company became a public blockchain in 2017 using VEN, an ERC-20 token. VeChain’s resident mainnet and the ticker VET were released a year later.
The team behind VET aspires to utilize the Internet of Things (IoT) and distributed governance to establish an ecosystem that caters to various industries, such as energy, medicine, and food and beverage.
VeChain uses two tokens, VET and VTHO. The former drives VTHO; it is both a store of value and a value transfer medium. On the other hand, VTHO is utilized to pay GAS costs. Moreover, VeChain (VET) was created by Sunny Lu, an IT professional whose employment history includes a stint as the chief information officer of Louis Vuitton in China. Lu has applied blockchain technology to solve transparency concerns; he believes trustless enterprises will not be compromised if they cooperate with auditing firms like PriceWaterhouseCoopers.
Creators Take Control – Lynqyo (LNQ)
Ethereum is the second biggest cryptocurrency according to market cap, while VeChain is a prominent platform in the market. On the other end of the spectrum, we have Lynqyo (LNQ), a brand-new token. The Lynqyo platform consists of a team of creators, designers, and developers with a singular goal: to provide a decentralized platform that empowers creators and fans with incentives. The makers of LNQ adhere to the notion that content creators impact culture and the public consciousness. The team aims to position Lynqyo against the algorithms employed by tech giants. Content creators join the LNQ platform; they can utilize Web 3.0 tools.
Web 3.0 applications and tools are Lynqyo’s unique selling proposition. LNQ token holders can possess, scale and monetize their content on the platform. Besides Web 3.0, the Lynqyo protocol is a decentralized platform that allows users to discover, assess, license, and swap non-physical content. Also called Content Economy Protocol, Lynqyo supports intangible content tokenization, which includes fan gifts and automated royalties. Other attributes are user governance, which is made possible through a micro-decentralized autonomous organization (micro-DAO). Governance privileges empower token holders to cast their votes and play a role in shaping the platform’s future.
Yet another feature that Lynqyo offers is liquidity pools. By implementing decentralized finance (DeFi) instruments like guaranteed lending and subscription payments, LNQ provides token holders with liquidity options. The principal protocol of the ecosystem is the Content Economy Protocol mentioned above. Lynqyo will also implement a collective ownership protocol in its ecosystem. LNQ is a token on Polygon’s network and fulfils three obligations. LNQ’s first function is governance; token holders are granted the prerogative to vote for alterations to the community and platform. Secondly, LNQ is utilized for the utility since it is used for processing payments in financial transactions, such as smart contracts and subscription fees. Finally, LNQ’s third task is proof of engagement. Token holders are allocated LNQ tokens based on a user engagement rewards ratio (UER).
How to buy Lynqyo (LNQ)?
Hurry Up! Grab a chance to avail of additional bonus coins; as the token is currently in its presale stage, it offers numerous bonuses for its early adopters.
While Ethereum emerged when the market was still in its infancy, VeChain has stood the test of time and maintained its position in the rankings. The cryptocurrency market is competitive, and each token must distinguish itself to sustain itself. The team behind Lynqyo (LNQ) hopes their platform has enough to survive the market and the ongoing crypto crash. LNQ’s starting price will be 0.00004 dollars. If you are interested in Lynqyo, the best time to invest is during stage 1 of the presale since that will give you a 7% bonus. If you wait till stage 2, the bonus will diminish to 5%. Alternatively, if you refer LNQ to a friend and they spend three hundred dollars, both parties will be eligible for a hundred-dollar reward.