VERTOCHAIN (VERT) RIPPLE (XRP) AND BINANCE COIN (BNB):
The crypto market crash of 2022 has shaken the foundation of all cryptocurrencies and the individuals related to the market. It made them mourn substantial losses and lose their faith in the market.
Before the crash, the market was progressing exponentially. It introduced new and novel cryptocurrencies with more advanced features and utilities than the former. DEX and blockchain services are amongst the major categories in which the crypto market deals. Ripple (XRP) and Binance coin (BNB) are prominent platforms offering the best DEX and blockchain services.
A new crypto token will be soon launched, i.e., VertoChain (VERT), which claims to provide advanced DEX and blockchain utilities. It is a meme coin that intends to provide real-life utilities to its users. Let’s dive into its features and compare them with the abovementioned utility token to see how it will revolutionize blockchain technology.
Ripple (XRP) is a digital payment network based on a decentralized peer-to-peer platform using blockchain technology to transact money globally. The platform offers fast transactions at a minimal rate, and it has partnered with hundreds of financial institutions allowing them to use its technology.
Ripple (XRP) ‘s main objective is to provide banks with fast, cheap, and convenient cross-border transactions. This feature has replaced the need for SWIFT, the current international payments system that most banks use. The XRP cryptocurrency is also a bridge currency, giving financial institutions a cheaper way to trade currencies. Users can hold XRP instead of various types of fiat money. Also, the platform does not work on the traditional method of blockchain mining. On the platform, participating nodes conduct a poll to verify the transaction’s authenticity.
Binance Coin (BNB)
Binance Coin (BNB) is a popular crypto token founded by the Binance cryptocurrency exchange. The token was launched on Ethereum ERC-20 standards but later shifted to its blockchain.
The primary feature of $BNB is to conduct Binance operations and the interconnected ecosystem of the exchange. The coin acts as a discount token offering to charge much lesser transaction and withdrawal fees for trading on the Binance platform.
The $BNB offers a decentralized exchange (DEX) that connects users and has significant liquidity, meaning user orders are executed fast and at economical rates.
Binance Coin (BNB) also runs Binance Smart Chain, a similar chain, especially for smart contracts, dApps, and DeFi. However, a few drawbacks of this coin are: It is not safe against cyber-attacks. Secondly, the platform has reduced its discount value and is limited to just the Binance exchange.
VetroChain (VERT) is a decentralized platform based on blockchain technology. The platform is built on the Binance Smart Chain (BSC), using its Proof of Staked Authority for efficient and swift validation of transactions. This project aims to provide peer-to-peer trading and swapping of digital currency across various blockchains.
The platform offers less congestion on the network and faster authentication times, and transaction fees are 35 times cheaper on $BSC. In addition, $BSC is a smart contract programmable network. It is compatible and interoperable with other Ethereum Virtual Machine-capable blockchains like Avalanche (AVA). This makes it easy for prospective users to move their digital assets across blockchains and improves interoperability between blockchains, which, in turn, strengthens $VERT further.
Strategies of Income Generation with $VERT
$VERT intends to create a self-sustaining ecosystem in the long run. The $VERT token is just one way to generate funds for developing VertoChain (VERT). The platform’s underlying structure will be built so that its growth will not be judged by DeFi class tokens alone.
Some of the ways the platform plans to raise funds are:
- Transfer Fees:
The platform will charge a nominal fee of $VERT for every transaction carried out on the platform. As more users interact with the token through spot or futures trading, the token becomes more valuable.
The percentage charged per loan request will be plowed back into the liquidity pool of the same tokens. Special projects requiring these funds will have to be validated by the DAO.
The platform will make targeted partnerships and investments in other projects that can yield hefty returns.
The VertoChain (VERT) intends to improve users’ access and use of digital assets throughout blockchains and quicken the adoption of crypto assets across the globe. It believes that near-zero charges per swap transaction will be a service incentive for users looking to move their assets around. $VERT ecosystem is all set to revolutionize the DeFi technology and upgrade security systems and smart contracts. Moreover, the platform offers many ways of income generation for users as well. All these features can make many think that $VERT might make it to the successful market.
Finally, another thing about VertoChain (VERT) is that if someone buys it in the first, second, or third stage of the presale, they will get 7%, 5% and 3% of $VERT tokens as a bonus. Moreover, purchasing it using BTC or USD will bring 9% of $VERT as a bonus.