There’s been a loss of faith in the traditional finance system and its ability to adapt to an ever-changing world.
Cryptocurrencies like Litecoin (LTC), Near Protocol (NEAR) and Logarithmic Finance (LOG), are becoming more and more influential in the digital asset space.
While traditional finance works on a centralised platform by agencies with middlemen within transactions, the concept of decentralised finance (DeFi) is appealing to more and more people.
The crowning jewel of DeFi is its reach and influence.
There are many people globally that do not have access to traditional banking systems and with that, bank accounts, but with DeFi, that doesn’t matter, this new frontier of finance requires you just to have the internet to take advantage of the new opportunities.
Logarithmic Finance (LOG)
The newest DeFi crypto on the block, Logarithmic Finance (LOG) is striving to be a contributing member to the next generation of decentralised finance.
By facilitating the multi-chain movement of different cryptos across several blockchains, Logarithmic Finance is hell-bent on establishing interoperability within the crypto space.
According to its litepaper, Logarithmic Finance is “a next-generation Layer-III swapping protocol carefully designed and built to promote seamless connectivity between early-stage innovators and investors.”
Built on the Ethereum blockchain, the LOG native currency is an ERC-20 token of which 100 million of these tokens is the maximum supply, with 50 million to be available to purchase in its presale.
Founded in October 2021, LOG has plans to add support to multiple blockchain networks including the likes of Avalanche (AVAX), Polygon (MATIC), Tezos (XTZ), Solana (SOL) and Binance Smart Chain (BSC).
Community is held in high regard with Logarithmic Finance (LOG) as its community will be able to create and vote on its proposals regarding the new features of the project as well as its token holders being eligible for exclusive privileges within the protocol.
Founded in 2011, just two years after Bitcoin, Litecoin (LTC) is a decentralised cryptocurrency that is a resource for paying people globally without a middleman needing to complete the transaction.
The crypto is not governed by any central authority as well as being an open-source project.
Litecoin (LTC) is ranked as the 21st biggest cryptocurrency in the world, according to data from CoinMarketCap, and its supply of 84 million Litecoins is fixed.
The cryptocurrency is mined, which requires a massive amount of processing power and uses a proof-of-work (PoW) algorithm to secure its network, like Bitcoin.
Trading at $106.11, at this time of writing, the crypto is up 7.5% in the past seven days, experiencing modest growth.
Litecoin’s all-time high of $410.26 was reached in May 2021, during the peak of the altcoin boom.
Near Protocol (NEAR)
Near Protocol (NEAR) is a decentralised application (dApp) platform that focuses on user convenience.
A competitor to Ethereum (ETH), Near Protocol (NEAR) supports the deployment of smart contracts and is a proof-of-stake (PoS) blockchain.
With scalability achieved through sharding technology, NEAR is a credible threat to the dominance of Ethereum (ETH) due to its eco-friendly methods and its processing of large numbers of transactions at efficient speeds.
NEAR is currently trading at $10.28, up 5.8% in the past seven days and hit its all-time high of $20.44 just two months ago in January.
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