It’s impossible to forecast which cryptocurrencies will be the most popular months, weeks, or even days in the future. This volatile nature of the crypto market sometimes scares people away. However, it is evident that the future of cryptocurrencies is bright and will undoubtedly continue to develop.
Acrana (ACR)
Newcomer Acrana’s (ACR) objective is to create a worldwide virtual currency supported by other cryptos rather than the US dollar because of the volatility of the existing financial markets. To support the worldwide community that think cryptocurrencies and DeFi is the future, Acrana (ACR) is striving to prevent a scenario where the USD declines at the same pace as the token it backs.
Instead of protecting the ACR token with the US dollar, Acrana set up the Acrana treasury, which has a wide range of cryptocurrency assets. Users can transmit or sell their digital assets to the treasury in return for ACR tokens. The cryptocurrency venture Acrana doesn’t rent out its liquidity. Instead, it owns it, which is a unique move by a project.
So, who are some of the “BIG” cryptocurrencies on the market now?
Two of the top 10 cryptocurrencies on the market now are Solana (SOL) at number 8 and Avalanche (AVAX) at number 10 (according to CoinGecko.com at the time of writing).
Although these cryptocurrencies have been decreasing in value for the past month, they are still big competitors to other cryptos out there. There has also been a correlation between the ongoing crisis in Ukraine with Russia and the decline of many cryptocurrencies.
Both Solana (SOL) and Avalanche (AVAX) are proof-of-stake (PoS) smart contract-enabled networks, which challenge the Ethereum system by having higher transaction speeds and lower costs. Non-fungible tokens have benefited greatly from this feature, which has fuelled their rapid growth.
Solana’s developer introduced the blockchain trilemma, which Solana hopes to address in a novel approach. Developing a blockchain presents creators with a trilemma with three fundamental issues: decentralisation, security, and scalability. As a result, it is often assumed that blockchains are structured in such a manner that developers are forced to give up one of the three advantages to have access to two of the three.
The Solana blockchain platform has developed a hybrid consensus mechanism that trades off decentralisation to maximise speed. There aren’t many projects like Solana in the blockchain world because they use Proof-of-Stake (PoS) and Proof-of-History (PoH) in a new way.
Avalanche (AVAX) also hopes to deliver a vastly scalable blockchain that doesn’t detriment decentralisation or security. Avalanche is a genuine competitor in a battle to develop the world’s fastest blockchain.
Once a transaction has reached finality, it cannot be reversed or changed. Finality is an important blockchain characteristic (particularly for financial applications), but the time it takes for a blockchain to reach finality varies. Ethereum, for example, reaches finality in under a minute. Avalanche reaches finality in a fraction of a second, which is near-instantaneous in real-world applications.
Conclusion:
It is tough to compare Acrana (ACR) right now to two of its top competitors, but it is always worth informing yourself on what else is on the market now. SOL and AVAX have done exceptionally well since they have launched, and Acrana can only hope to achieve the same success.
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Keywords: Arcana, ACR, Solana, SOL, Avalanche, AVAX, Blockchain, Decentralisation
