The recent crypto market crash has cost people lost all their fortune. On the other hand, this low market value attracts new investors to invest and gain profit, anticipating a future surge in the market.
The new virtual currency, which gained profit after the launch of Bitcoin (BTC), is now getting worldwide recognition, and its popularity is increasing amongst the youth. The volatility of cryptocurrency has the potential to make you a millionaire with easy and little investments; therefore, the youth is willing to try their luck and earn some money.
Exploring Parody Coin (PARO)
Parody Coin (PARO) is a BEP-20 meme token with an ecosystem based on a BNB chain that supports minting, trading, and access to NFT. The Parody Coin (PARO) is a contemporary meme coin. Meme coin is a new cryptocurrency inspired by internet memes. It is typically offered as a comical product rather than a serious one. Because meme tokens rely on influencer endorsement and community passion, market interest influences their value.
Parody Coin (PARO) contains all of the intriguing elements that distinguish meme coins and more. It is an ecosystem with several valuable characteristics that make it an appealing investment for token holders. Some features include the Parody Swap, Parody Bridge, and the Parody Market.
Compared to Chainlink (LINK) and NEAR Protocol (NEAR)
Chainlink (LINK) is a decentralized platform built on blockchain and launched in 2017. The capabilities of smart contracts allow access to real-world data and off-chain computation while maintaining security and transparency.
It is a decentralized network of oracles that connect blockchains to external networks, allowing smart contracts to implement based on blockchain inputs and outputs.
As of 29th May 2022, the coin is ranked at position 26, with the coin capitalization market at around $3.1 billion. During the last seven days, it has dropped by 8.12%. Over the previous 24 hours, the coin has increased by 2.8%.
NEAR Protocol (NEAR) is a simple, scalable, and secure blockchain platform built to give the greatest possible experience for developers and consumers, which is required to fill the gap between decentralized application uptake and mainstream usage. The South Pole has confirmed that NEAR is entirely carbon neutral.
NEAR Protocol (NEAR) is a (Proof-of-stake) PoS-based Level 1 blockchain optimized for running smart contracts. A blockchain-based on PoS is scalable enough to facilitate the creation of decentralized apps (dApps). As of 22nd May 2022, the coin is ranked at position 22, with the coin capitalization market at around $3.5 billion. During the last seven days, it has dropped by 15.68% and by 3.97% during the last 24 hours.
Unique Features of Parody Coin
Exchanging Parody Coin (PARO)
The Parody Coins (PARO) will be tradable with other blockchain assets. This will be accomplished mostly through liquidity pools on decentralized exchanges (DEXs). Users are relieved of the obligation of maintaining the liquidity pool when they utilize Parody Coin. Instead, the liquidity pool is supported by token reflection—the liquidity is derived from the fees users pay to trade in the ecosystem.
The DApp Store
The Parody Coin (PARO) ecosystem functions as a Super app, replete with its own DApp store. The long-term goal is to enable third-party developers to design and deploy apps inside the ecosystem. These DApps will provide many services, including those that aid in the minting, trading, and usage of imitation NFTs.
This is an ecosystem component designed to help develop NFTs that interact with the real world. It focuses on the prerequisites of metaverse development. The Paroverse, using NFT copies and other decentralized applications, provides the opportunity to create and interact with digital worlds that are interfaceable with the natural world.
The coin will be released in three parts, beginning in January 2022 and ending in August 2022. This much-anticipated coin has much potential disrupt an important part of the market. NEAR’s administration is shaky, and now, only validators may vote on ideas. Governance centralization is worrisome, with a 35% token supply held by the owners. Chainlink (LINK)‘s success entirely depends on the relevance of use, and the operation is limited by the internal use and success of the platform. NEAR Protocol’s (NEAR) intention to issue up to a billion tokens has been criticised by expert who think that such a large volume will exceed available resources.
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