While most top cryptocurrencies are either slightly down or marginally up, the likes of Elrond (EGLD) and Waves (WAVES) are currently flourishing with Logarithmic Finance (LOG) making its name heard within the cryptocurrency industry with its exciting presale.
The crypto industry is one where we all desperately look to find the new Dogecoin (DOGE) or Shiba Inu (SHIB) for big profits and the emergence of Logarithmic Finance certainly has turned a few heads within the digital asset space.
1. Logarithmic Finance (LOG)
Described as a “next-generation Layer-III swapping protocol carefully designed and built to promote seamless connectivity between early-stage innovators and investors, Logarithmic Finance (LOG) plans to become the next bastion of decentralised finance.
With an onus on cross-chain interoperability involving the blockchains of Ethereum (ETH), Avalanche (AVAX), Polygon (MATIC), Binance Smart Chain (BSC), Solana (SOL), and Tezos (XTZ), Logarithmic Finance aims to expand the influence of decentralised finance further than it already is.
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With fully homomorphic encryption that secures LOG’s swapping mechanism, Logarithmic Finance is taking advantage of the rich technology on offer as well as attempting to achieve 80% reduced gas fees by making sure that only crucial data is anchored on the blockchain.
With LOG being the utility ERC-20 token of Logarithmic Finance, its holders are eligible for various benefits including governance rights, staking rewards, high yield investment and better swap ratios.
Founded in early 2022, it’s been full-steam ahead for the project whose presale of its LOG token is now live.
2. Elrond (EGLD)
Using a secure proof-of-stake (SPoS) consensus mechanism, Elrond (EGLD), an internet-scale blockchain, is able to offer mass scalability and low transaction fees.
Designed to compete against major blockchains like Ethereum, Elrond’s usage of ‘Adaptive State Sharding’, its transaction processing mechanism, allows for nodes to be split to verify transactions which leads to a higher number of transactions being confirmed.
Launched in 2020, Elrond aims to offer security and decentralisation for its users and like Logarithmic Finance, focuses on cross-chain interoperability.
With the likes of Bitcoin (BTC) confirming that its network can handle an average of 7 transactions per second (TPS), the Elrond team claims that its network handles 15,000 TPS, with a cost of just one cent per transaction.
Elrond currently ranks as the 38th biggest cryptocurrency in the world, according to data from CoinMarketCap.
3. Waves (WAVES)
Having been launched in 2016, Waves (WAVES) is designed for the creation and trade of custom crypto tokens.
The blockchain wants to make it easier for the buying and selling of digital assets which are created via scripts that run in user accounts on the blockchain of Waves.
The Waves ecosystem involves its own decentralised exchange called Waves. Exchange as well as adding smart contract functionality that allows third parties to build decentralised applications (dApps) on the Waves ecosystem.
Waves has been among the top-performing cryptocurrencies in 2022 and currently ranks as the 39th biggest cryptocurrency in the world, according to data from CoinMarketCap and remain hot on the heels of Elrond, who sits in 38th.
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