Uniglo (GLO), Ethereum Classic (ETC) And Dogecoin (DOGE) Might Compete With Bitcoin (BTC) After All – CryptoMode
The year 2009 saw the invention of Bitcoin on the heels of an economic debacle. It was created to facilitate a peer-to-peer system with no central entity controlling midway transactions. Over the past decade, many projects have followed the footsteps of Satoshi Nakamoto to build an ecosystem free from centralized governance.
Experts believe some promising cryptos like Uniglo, Ethereum Classic, and Dogecoin may compete with the likes of Bitcoin. Let’s catch a glimpse of how they revolutionize this emerging industry.
Bitcoin was created to solve the problem of double spending, while Uniglo went a step ahead and created a social currency that is immune to volatile market conditions. For the first time, a protocol will utilize its own treasury to back the floor price of a stable asset class. Unlike other digital currencies, the value of GLO will continue to appreciate regardless of bear or bull market. For each trade on its network, 5% tax will go toward asset storage, while 2% will be burned forever. A share of profits generated by the protocol will be used to buy back and burn more tokens to keep the demand in check.
Ethereum Classic (ETC)
Ethereum Classic is a decentralized computing platform that combines the philosophy of BTC with the technology of ETH to deliver the vision of unstoppable applications. Smart contracts on this platform run without third-party interference, downtime, or censorship. ETC is the native asset of the protocol born from the DAO hack in 2016. It runs on a proof-of-work mining algorithm and aims to be a global exchange of value. Being one of the oldest platforms in the crypto space, Ethereum Classic is here to stay in the long run.
Dogecoin broke into the crypto scene as a fun version of Bitcoin that facilitates peer-to-peer transactions at a much lower cost and lesser energy consumption. What started as a meme token has now grown into a massive community headed by the likes of Elon Musk. DOGE is one of the most widely accepted cryptocurrencies in the world used by payment services, merchants, retailers, travel companies, and even fashion outlets. The huge popularity of Dogecoin has played a key role in generating awareness regarding crypto. Many new players have been introduced to the crypto world through Dogecoin.
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