Cryptocurrencies Promoting Decentralization One Step at a Time: Persystic Token, Polkadot, and Avalanche
The growth and development of decentralization in the world’s current financial market can be attributed to cryptocurrencies and the blockchain industry. These cryptocurrencies have provided numerous real-life use cases contributing to this financial market growth. Persystic (PSYS), Polkadot (DOT), and Avalanche (AVAX) are three cryptocurrencies that aim further to improve the development of the world’s financial market as we know it.
The Persystic Token (PSYS) network is an open-source tokenized mixed social networking platform that allows its users and individuals worldwide to communicate and interact with one another and form special communities based on their democratic principles and the right to express themselves freely.
Although the Persystic Token (PSYS) network intends to utilize the benefits associated with social networking, the platform also aims to introduce a new financial model and pioneer privacy policies in the social networking sector.
Reinforced by blockchain technology, the new financial model will enable its users, creators, and developers to monetize and share their content in a secure, transparent, and verifiable manner.
Persystic Token (PSYS) is focused on solving the problems that plague traditional social media platforms. These problems include but are not limited to unequal monetization strategy, privacy concerns, government censorship, security, and proliferation of fake content. The Persystic (PSYS) team believes that the solution to these problems lies in allowing decentralized social networks to be encrypted at rest. This will ensure that the data of crypto enthusiasts who use the platform remains safely stored and secure. Solving these problems will also ensure that the private content shared on the Persystic (PSYS) platform is authentic.
Its native utility token, PSYS, powers the Persystic Token (PSYS) platform. The Persystic Token (PSYS) users will be able to use the PSYS tokens to perform various functions on the platform, including sending and receiving payments for the original content they have created and serving as a means of exchange on the Persystic (PSYS) platform.
Polkadot (DOT) is Developing Layer One Networks
Regulated by four core components, Polkadot (DOT) is a layer Zero metaprotocol that serves as the underlying technology for developing layer one blockchain networks. The Polkadot (DOT) network promotes interoperability as it is open-sourced and shared, allowing blockchain networks to connect and interact.
The Polkadot (DOT) network facilitates the cross-chain transfer of cryptocurrencies, data, and digital assets across several blockchains. The core components of the Polkadot (DOT) network are parachains, relay chains, parathreads, and bridges. These components allow the network to connect with different networks, such as decentralized oracle networks (DONs), public chains, private chains, and permissionless networks.
The DOT token powers the Polkadot network and serves the purpose of staking and enabling the governance of the Polkadot network via the decentralized autonomous organization (DAO).
Avalanche (AVAX) is Developing Decentralized Applications
The AVAX token is the native crypto token hosted on the Avalanche (AVAX) platform. The Avalanche (AVAX) platform is popularly known in the crypto market as one of the fastest smart contract-executing platforms that are inexpensive, eco-friendly, and user-friendly.
Utilizing the same programming language as Ethereum (ETH), Avalanche (AVAX) supports the execution of decentralized smart contracts on which decentralized applications (dApps) are run.
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