In the crypto industry, as it is everywhere else, it is usually the biggest coins that take up all the headlines. And it is quite understandable that being the biggest coins, they are also the most popular, the most profitable and the most reliable options in the market. In the crypto space, Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) are prime examples.
However, a particular fact that is often overlooked is even though the big coins are most likely to fetch you a fortune, they are not the only ones capable of doing so. There are lesser-known coins on the market with the ability to do so and are often referred to as “crypto gems”. Ethereum Classic (ETC), Hedera (HBAR) and Logarithmic Finance (LOG) are three crypto gems that every investor should know about in 2022.
How does Ethereum Classic (ETC) differ from Ethereum (ETH)?
Ethereum Classic (ETC) is a cryptocurrency, smart contract and blockchain platform designed to support other applications such as decentralised applications (dApps). The platform enables dApps built on it to issue their own tokens. This also includes NFTs.
Regardless of the name, Ethereum Classic (ETC) is not the same as Ethereum (ETH). Both platforms were the same and under a single umbrella (Ethereum) in the beginning until a disagreement caused a split.
A vulnerability in the code of the original Ethereum caused millions of dollars to be withdrawn from the network’s funds, and something had to be done. To remedy the situation, major players suggested that a hard fork be created to reverse the hack and give people their money back, but that solution did not sit well with the purists who believed that you don’t tamper with the ledger. As a compromise could not be reached, both parties went separate ways.
Years after the split, Ethereum (ETH) is quite clearly doing better and enjoys a better reputation, more investment and a higher currency value. Ethereum Classic (ETC) retains a community of die-hard users and developers and a multi-billion dollar market cap. Its native crypto, ETC, is a top 30 cryptocurrency by market cap, at the time of writing.
Hedera (HBAR) – a next-generation cryptocurrency
It goes without saying that mining is an essential feature of current blockchain-based systems. These systems rely heavily on mining for their verification processes, among other things.
But mining is an energy-intensive process that requires computers to work through complex computations to verify transactions. What if there was a way to sidestep this problem by removing mining entirely and using a wholly new ledger structure? Here is where Hedera (HBAR) solves this problem.
Hedera (HBAR) uses a technology known as Directed Acyclic Graph (DAG) to achieve more than 100,000 transactions per second. At the moment, the Hedera (HBAR) platform performs 6.5 million transactions per day with an average transaction time of 5 seconds.
Hedera (HBAR) differs from other blockchain-based platforms because it does not rely on a computer heavy Proof-of-Work (PoW) consensus mechanism to operate. It is faster than both Bitcoin (BTC) and Ethereum (ETH) because transactions are processed parallel, not serially. Additionally, it has fast latency, requiring only a few seconds for transactions to be sent out and confirmed.
Finally, Hedera (HBAR) offers extremely low fees and rapid transactions. Transactions on the platform reach absolute finality in just seconds, and transaction fees cost under 1 cent. At the time of the article, its native cryptocurrency, HBAR, is a top 40 crypto by market cap.
Why is Logarithmic Finance (LOG) attracting the market’s attention?
Decentralised Finance (DeFi) represents a fantastic opportunity for financial growth in the coming years. Unlike traditional financial systems that are entirely opaque, subject to market volatility and operate at the top of a fractional reserve system, DeFi platforms are completely transparent, open, and accessible to all.
Logarithmic Finance (LOG) is one such product within the DeFi ecosystem. With features such as Liquid staking and decentralised exchange (DEX), Logarithmic Finance (LOG) will usher in a new age for DeFi products and hopefully bring the movement closer to mainstream adoption.
The LOG team aims for multi-chain and cross-chain implementation to provide the best user experience for its community. Innovators will be able to raise funds on multiple blockchain networks and will receive several benefits from doing so, including lower gas fees based on network availability and higher transfer processing speeds.
Logarithmic Finance (LOG) is currently on presale, showing a huge increase in its value with a nearly 400% increase so far. You can find more information about LOG via the links below.
Logarithmic Finance (LOG)