Top cryptocurrencies this week: Chiliz, Theta Fuel, and more

 Top cryptocurrencies this week: Chiliz, Theta Fuel, and more

Top cryptocurrencies this week.

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AMP (AMP) +73.70%

  • Market Cap – $2,651,026,911.00

Amp is described as the new digital collateral token offering instant, verifiable assurances for any kind of value transfer. Using Amp, networks like Flexa can quickly and irreversibly secure transactions for a wide variety of asset-related use cases.

Amp claims to offer a straightforward but versatile interface for verifiable collateralization through a system of collateral partitions and collateral managers. Where collateral partitions can be designated to collateralize any account, application, or even transaction, and carry balances which are directly verifiable on the Ethereum blockchain, collateral managers are smart contracts that can lock, release, and redirect collateral in these partitions as needed in order to support value transfer activities. Amp supports a wide variety of use cases for collateralization, and also introduces the concept of predefined partition strategies, which can enable special capabilities such as collateral models through which tokens can be staked without ever leaving their original address.

Theta Fuel (TFUEL)  +30.41%

  • Market Cap – $2,683,286,301.54

Theta Fuel (TFUEL) is one of the two native tokens on the Theta blockchain. TFUEL should not be mistaken for Theta Token (THETA), which is the governance token of the Theta blockchain supported by thousands of community-run Guardian nodes and its Enterprise validators including Google, Binance, Blockchain ventures, Gumi and Samsung.

TFUEL is the second token on the Theta blockchain that serves as the utility token in decentralized video and data delivery, it also acts as a gas token. This means that it is used to power all operations on the Theta blockchain, like payments to relayers for sharing a video stream, for deploying and interacting with smart contracts, and as fees associated with transacting NTFs and DeFi applications.

In addition, it is also used to incentivize users in the ecosystem who share their redundant computing power as Edge Compute nodes as well as bandwidth resources as Edge Caching nodes for video streams and other data.

Chiliz (CHZ) +7.14%

  • Market Cap – $1,897,510,179.17

Chiliz (CHZ) is the leading digital currency for sports and entertainment, powering the world’s first blockchain-based fan engagement & rewards platform Socios.com. Fans can purchase & trade branded Fan Tokens as well as having the ability to participate, influence, and vote in club-focused surveys & polls. Founded in Malta in 2018, the company’s vision is to bridge the gap between the active and passive fan, providing millions of sports fanatics a Fan Token which acts as a tokenized share of influence.

As the exclusive on-platform currency, fans use CHZ to purchase these branded Fan Tokens, which give users influential decision-making power by allowing them to vote on polls our partners publish on within the Socios app. Ownership also gives fans access to exclusive rewards & incredible experiences, as well as gamification, social interaction and leaderboard features with more additions launching through 2021 and beyond.

  • The CHZ Token exclusively fuels Socios.com, their consumer facing platform where fans can utilise their Fan Tokens to participate in polls and surveys and be rewarded through active engagement.
  • CHZ Tokens are required to participate in Fan Token Offerings (FTO) the initial sale of Fan Tokens and Socios Locker Room where by popular demand shows potential partner clubs or sports how much appetite there is for Fan Tokens and in doing so will further influence clubs or sports brands to join Socios.com!
  • CHZ Tokens can also be used to purchase purchase/trade Fan Tokens through the consumer facing platform, Socios.com
  • Fan Tokens can be traded on the Chiliz in-house exchange www.chiliz.net against the Chiliz Token, CHZ.
  • The CHZ Token has high liquidity and is also traded on some of the largest and globally recognised exchanges, such as Binance (Cornerstone Investor), Bitpanda, HBTC, Paribu, Mercado, HBTC

Kusama (KSM) +14.04%

  • Market Cap – $3,903,326,499.51

Self-described as “Polkadot’s wild cousin,” Kusama is an experimental blockchain platform that is designed to provide a massively interoperable and scalable framework for developers.

Kusama is built on Substrate — a blockchain building kit developed by Parity Technologies. Kusama has almost the same codebase as Polkadot — one of the most successful interoperable blockchains.

By deploying on Kusama, fast-paced projects gain access to a highly scalable, interoperable sharded network, with features that are not yet available on Polkadot. To that end, Kusama describes itself as a “canary network.”

The platform is designed to provide a testbed for developers looking to innovate and deploy their own blockchain and can be used as a preparatory network before launching on Polkadot — though many projects opt to stick with Kusama for their final product.

Kusama benefits from a low barrier to entry for deploying parachains, low bond requirements for validators, and is most commonly used by early-stage startups and for experimentation.

Kusama is unusual among blockchain platforms since it is predominantly built for developers that want to launch bold, ambitious projects, with a fast-evolving pace of development.

It is built on a multichain, heterogeneously-sharded design that uses a nominated proof-of-stake (NPoS) consensus system — an alternative consensus mechanism to the energy intensive proof-of-work (POW) scheme employed by several other blockchains.

This system enables it to perform rapid on-chain upgrades without a fork, and support cross-chain message passing (XCMP) to enable communication with other parachains on the Kusama network.

Like Polkadot, Kusama features on-chain governance capabilities. This on-chain governance is both decentralized and permission-less, allowing anybody with Kusama (KSM) tokens or parachain tokens to vote on their respective governance proposals, which might include putative upgrades, changes to the protocol, and feature requests. This on-chain governance procedure is roughly four times faster than that offered by Polkadot, with a combined voting and enactment period of just 15 days — leading to the rapid pace of development for projects built on Kusama.

The project serves projects that want to hit the ground running, launching updates and improvements without the need to implement a fork to do so — thereby ensuring maximum community cohesion.

Bitcoin Gold (BTG) +5.87%

  • Market Cap – $1,098,253,324.74

Bitcoin Gold was founded in 2017 to become a user-friendly alternative to Bitcoin. The BTG network aims to combine the security and sturdiness of the Bitcoin blockchain and its characteristics with the opportunity for experimentation and development.

BTG enhances and extends the crypto space with a blockchain closely compatible with Bitcoin but without using resources like Bitcoin hash power or vying for the “real Bitcoin” title. The company aims to present a coin with the implementation capabilities of Bitcoin, however, expanding on the opportunities for DeFi and DApp developers to use the coin.

Bitcoin Gold is a unique combination of the inherent properties of the original Bitcoin blockchain and an innovative approach to blockchain development and applications. As a hard fork of the original Bitcoin token, BTG aims to revolutionize the mining process by introducing a new proof-of-work algorithm that combats the scalability issues Bitcoin struggles with.

As an open-source protocol, Bitcoin Gold allows developers to participate in the governance and development of the blockchain freely. According to the company, this is a must-have requirement for pushing decentralization and one of the major points where Bitcoin struggles.

Bitcoin Gold is one of the first hard forks of the original cryptocurrency, which has attracted institutional and enterprise investors’ attention. BTG is available on a wide variety of exchanges, as well as swap services and wallets. Lastly, Bitcoin Gold has been actively adopted by several online browsers and service providers.

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Chris Louw

https://sashares.co.za/

Featured Financial Writer for SA Shares - Read more about Chris's Bio -

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