Coinbase is an influential cryptocurrency company and an exchange for coins, where users can buy Bitcoin (BTC) or Ethereum (ETH) among others. Although it doesn't support every coin of the thousands available worldwide, it does have most of the major ones. Simply put, it allows you to trade these cryptos and has created a substantial following in the industry. Its CEO, Brian Armstrong, recently shared some grim news on the digital sector.
In an interview with Consumer News and Business Channel (CNBC), Armstrong suggested that the cryptocurrency winter we're experiencing could potentially last another 18 months or more! This shouldn't dishearten you as we have just the right crypto for you to look at namely, Keninah Concord (KEN), Dogecoin (DOGE) and Ripple token (XRP). These three may keep you sizzling in this very cold winter.
Its Goal
Creating a stable platform that gives war victims worldwide access to help through donations. It seeks to use blockchain technology and cryptocurrency to achieve this in a decentralized and efficient way. Cryptocurrency has already helped victims of Ukraine's war and Keninah Concord (KEN) seeks to reach the zenith in providing these services.
Distributed Ledger Technology
Distributed Ledger Technology (DLT) will be used to remove the issues currently plaguing the war victim space. Constant matters like transparency, traceability and the relation between the donor and recipient can be a thing of the past with Keninah Concord (KEN). It seeks to build the trust of donors in a strong system, which can heal more people in less time.
An immutable shared ledger provides transparency of donations while a traceable accounting system delivers confidence since records are permanently etched onto the blockchain. Hence, every donation cycle can be tracked and donors see how the specific cryptocurrency was used.
What is Keninah Concord?
Keninah Concord (KEN) is a decentralized blockchain network created on the BNB Smart Chain (BSC). This network focuses on donation efficiency, enabling donations so that help can reach the end destination as quickly as possible. It strives to heal the world through a large number of transactions and it uses decentralized finance (DeFi) to do this.
Its DeFi systems are extremely decentralized which eliminates the general limitations funds undergo upon being sent. Smart contracts in Keninah Concord (KEN) enable the funds to reach the intended destinations accurately and quickly. The native Keninah Concord token (KEN), also called KEN, is the powerhouse behind the platform. It's a BEP-20 token made on the BNB Smart Chain (BSC).
Help within minutes
The BNB Smart Chain (BSC) was chosen because of its transaction per second (TPS) speeds of 160 and beyond. It also does this with a minimum cost which allows Keninah Concord (KEN) to increase donation efficiency. Imagine the kind of help this platform could do to the war-afflicted world of today.
The BNB Smart Chain (BSC) gives Keninah Concord (KEN) one of the quickest smart contract capabilities; with speeds reaching three blocks generated second. This is more than Ethereum's (ETH) 13 seconds per block generating abilities. The 5Gwei low gas fees of the BNB Smart Chain (BSC) are also less than Ethereum's (ETH) 40 Gwei, not to mention its decentralization proficiency.
Payment gateway
Donors sometimes prefer to make donations with popular cryptos, coins like Bitcoin (BTC) and Ether (ETH) to name a few. Keninah Concord (KEN) has that covered within its ecosystem. It enables the conversion of other cryptos into native Keninah Concord tokens (KEN) before sending them to their final destination. A Keninah pay button is built into the website for charities that obtain donations, so you're all set.
Presale perks
Keninah Concord tokens (KEN) can be bought in presale now, a staggering 40% bonus is given to presale buyers who purchase within 30 minutes of signing up. A referral link sent to a friend will give you both $30 each in the form of Keninah Concord tokens (KEN) if $100 is spent. With such bonuses in place, in addition to a robust system, Keninah Concord tokens (KEN) could potentially help you with the crypto winter! Read more on Keninah Concord (KEN here and on this link.
Dogecoin (DOGE)- a puppy love community
Dogecoin (DOGE) is a meme coin but interestingly is in the top 10 per market capitalization. Just like other altcoins, Dogecoin (DOGE) is a volatile cryptocurrency, that operates on a blockchain and can be traded, sold or bought.
Loyalty
When Dogecoin (DOGE) brands itself as a community of loyal supporters, it appears this is literal as Billy Markus, a co-founder of Dogecoin (DOGE), was recently put to the test on matters loyalty to Dogecoin (DOGE).
Billy Markus refused a $14 million offer to promote an unapproved cryptocurrency project through his Twitter account. The blockchain in question was Dogechain (DC), a blockchain initiative seeking to link with Dogecoin (DOGE) and Web3.
The Dogecoin-Ethereum bridge
Dogecoin (DOGE) hasn't stagnated and is still undergoing upgrades. According to BluePepper, the Dogecoin-Ethereum bridge or Doge-Eth is now under construction and should go live this year. This will see Dogecoin's (DOGE) developer, Markus, partake in the development. However, Dogecoin's (DOGE) core developers are also working on Dogecoin 1.21. In case you're wondering, BluePepper is the entity spearheading the Doge-Eth bridge's development.
Dogecoin (DOGE) users can expect interesting changes once this proposal goes live, Dogecoin (DOGE) seeks to create this bi-directional bridge to allow users to move Dogecoin's (DOGE) to Ethereum's (ETH) chain, and vice versa. Dogecoin (DOGE) can have DeFi protocol use, non-fungible token (NFT) marketplaces and smart contract functions!
BluePepper, BitGo, Dogecoin (DOGE) foundation and MyDoge will partake in the process, and perform governance as members of the decentralized autonomous organization (DAO). The current issue is mainly combatting the large solidity codebase, in addition to a large attack vector which can be used to expose the bridge to attacks.
A bewildering future
Dogecoin (DOGE) is a volatile asset just like other cryptocurrencies, but this hasn't stopped the crypto sector from receiving more than a billion dollars. Meme coins like Dogecoin (DOGE) are sometimes limited in usage, hence the meme is the main attracting factor. However, as long as the meme lives on, users can expect Dogecoin (DOGE) to continue existing.
Not decentralized, but a Middleman
Ripple tokens (XRP) are native cryptocurrencies of the Ripple (XRP) network. Interestingly, Ripple tokens (XRP) are owned by one company which means there is no decentralized community like with other cryptos.
Ripple tokens (XRP) also don't seek to be an alternative to the fiat currency, instead, it seeks to play the intermediary role to facilitate global trade between units of value. This means it can act as a middleman for the conversion from Ether (ETH) to a fiat currency like the American dollar.
Banks use it
Since Ripple tokens (XRP) focus on fiat currency, banks and similar institutions employed it already. Ripple tokens (XRP) provide an open-source structure and platform for these institutions to use. In a way, Ripple tokens (XRP) are like a modified form of the SWIFT system that banks use. They can't be mined therefore there is no minting process for Ripple tokens (XRP). Pre-mined Ripple tokens (XRP) number 100 billion however most aren't in circulation.
The Xpring
Ripple Xpring is an initiative by Ripple (XRP) to help incubate, obtain and deliver grants to organizations that can enhance use cases for the Ripple token (XRP). This is specifically for use cases outside the international transaction sphere, such as the debt situation. Ripple tokens (XRP) sell for approximately $0.3278 if you're interested in purchasing them.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.