The usage of cryptocurrencies has skyrocketed, and several new tokens are introduced daily. Therefore, it might not be easy to pick among them. Moreover, the bear market in 2022 has increased investor anxiety. As a result of the present volatility of the cryptocurrency market, investors are considering which cryptocurrency would provide the greatest return on investment.
Tezos (XTZ) is a well-known instance of a thriving cryptocurrency. The brand-new cryptocurrency Parody (PARO) has significant potential and is undergoing a presaleperiod. So, let's see whether the PARO token can compete with the rest of the cryptocurrency market.
The Decentralised Open Source - Tezos (XTZ)
Since the network depends on the Proof of Stake (PoS) consensus process, XTZ holders may receive a passive income by contributing to the network's security. XTZ is a governance token, and on the Tezos blockchain, this has greater relevance than normal. Since the Tezos blockchain was built to update itself without the risk of a hard fork, token holders are often required to vote on protocol modifications. The Tezos blockchain has achieved great success in the NFT sector because it is more environmentally friendly and scalable than the Ethereum network.
Additionally, its cheaper transaction fees have reduced minting expenses for NFTs and attracted artists and investors. Financial applications are used to handle vast amounts of assets and other high-risk industries, such as autonomous driving, electric car charging, real estate tokenization, and cloud-based software solutions. These are all examples of dApps that work well with Tezos. According to the most recent long-term Tezos price estimate, the price of one token will reach $5 by the middle of 2022, followed by $10 by the end of 2024.
The Upcoming Utility - Parody Coin (PARO)
Parody Coin (PARO)is a deflationary BEP-20 utility token developed on the Binance Smart Chain (BSC) that aims to reward its users for engaging in its Paroverse in various ways. The platform includes a Parody Market for non-fungible tokens in addition to Parody Swap and Parody Bridge. Parody Market is a BNB Chain-based decentralised application with a user-friendly interface that enables users to mint parodies of popular NFTs on Ethereum, BNB Chain, and other blockchains.
Users may then sell or purchase NFT parodies posted for sale by other users. This function of Parody Coin (PARO) makes the NFT market more accessible and affordable for the general public. A positive characteristic of this market is that NFT parodies are not wholly distinct from the originals from which they were copied. By locking up or destroying the original NFT, the original creators might claim ownership of the parodies. This increases the likelihood that NFT parodies may replace the original on the market. With everything it brings to the table, Parody Coin (PARO) has great development potential.
More Links on Parody Coin (PARO):