Recently, Aaron Arnold, a co-host of the popular crypto-focused YouTube channel Altcoin Daily, talked about four crypto projects with “insane potential”.
“Avalanche is an open-source platform for launching decentralized applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. Avalanche is the first decentralized smart contracts platform built for the scale of global finance, with near-instant transaction finality. Ethereum developers can quickly build on Avalanche as Solidity works out-of-the-box.
“A key difference between Avalanche and other decentralized networks is the consensus protocol. Over time, people have come to a false understanding that blockchains have to be slow and not scalable. The Avalanche protocol employs a novel approach to consensus to achieve its strong safety guarantees, quick finality, and high-throughput without compromising decentralization.
“AVAX is the native token of Avalanche. It’s a hard-capped, scarce asset that is used to pay for fees, secure the platform through staking, and provide a basic unit of account between the multiple subnets created on Avalanche. 1 nAVAX is equal to 0.000000001 AVAX.“
Avalanche is being developed by Ava Labs, a blockchain startup founded in Brooklyn, New York in 2018 by Professor Emin Gün Sirer (CEO), who does computer science research at Cornell University, Kevin Sekniqi (COO), and Ted Yin (Chief Protocol Architect).
Arnold mentioned the following tweet by Coin98 on November 9 about the 358 Avalanche-powered projects that have been built in the past 13 months.
$FTM is the native token of Ethereum competitor Fantom.
Here is a little introduction by the Fantom team to this exciting crypto project:
“Fantom is a high-performance, scalable, and secure smart-contract platform. It is designed to overcome the limitations of previous generation blockchain platforms. Fantom is permissionless, decentralized, and open-source. Lachesis, its revolutionary aBFT consensus mechanism, allows Fantom to be much faster and cheaper than older technologies, yet extremely secure.“
“Fantom keeps growing exponentially. Fantom is a fast and scalable next-generation layer-1 platform. Let’s take a look at some stats: 1.1 million unique addresses, 75,000 plus daily active addresses, almost 1 million daily transactions, 44,000 plus smart contracts deployed and $5.3 billion total value locked.“
Aave is “a decentralised non-custodial liquidity market protocol where users can participate as depositors or borrowers.” Depositors “provide liquidity to the market to earn a passive income”, while “borrowers are able to borrow in an overcollateralised (perpetually) or undercollateralised (one-block liquidity) fashion.”
In case you are wondering about the name “Aave”, it is a Finnish word that translates to “ghost” in English, and it is was chosen by the team because they are focused on building an open and transparent DeFi platform.
Aave is being developed by a multi-cultural team, and London was chosen for its headquarters because the city has probably “the largest FinTech community in the world.”
Here is what Arnold had to say about Aave V3:
“It’s packed with tons of brand new features… Probably the biggest game-changer is what’s known as Portal, allowing assets to seamlessly flow between Aave V3 markets over different networks, so Ethereum, to Avalanche, to Fantom, to Cardano, to Solana, this is what we’re talking about. This is a big game-changer.“
$CHZ is the native token of blockchain-based fan engagement and rewards platform Socios. The Socios.com mobile app allows users to credit their accounts with $CHZ by using credit/debit cards, exchange $CHZ to their favourite teams’ Fan Tokens, and participate in official polls taken by teams (thereby unlocking rewards).
Arnold found it interesting that highly popular and successful NFL team New England Patriots recently entered a partnership with Socios.
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.