The cryptocurrency market has seen a lot of drastic changes this year, but things are getting better over the last couple of weeks. Investors have been taking a closer look at CashFi (CFI) which seems to be on the rise, will it be able to surpass established cryptocurrencies like Solana (SOL) and Near Protocol (NEAR)?
CashFi (CFI) On the Rise
CashFi is a new cryptocurrency that is yet to be launched, but once it has been released, analysts and crypto experts predict that it will go on a bull rally. As CashFi is based on the Ethereum blockchain, it is closely linked to Ethereum’s (ETH) development. This means those who are following CashFi are also attentively watching ETH.
As CashFi is still in its presale phase, investors and crypto enthusiasts have deemed CashFi to be a token you should consider investing in whilst it is still at presale value. With a total supply of 200,000,000 tokens and each token being sold for 0.027778 US Dollars, making it affordable for all.
CashFi will be designed to reconstruct the ideal ecosystem, giving top-tier liquid staking, NFT, and synthetic asset services. CashFi watched the growth of the proof-of-stake (PoS) initiatives and tokens. Peer coin was the first to use the proof-of-stake method in 2012, it set the tone for current PoS market leaders such as; Algorand, Solana and Cardano.
Solana (SOL) is Worth considering
Solana is a layer 1 protocol created to have a high level of throughput and scalability. They obtain super fast transaction speeds with a high level of processing capacity, Solana claims to be able to process more than 50k transactions per second. In essence, this makes Solana even faster than Visa and 35 times faster than XRP!
The Solana system allows smart contract capabilities with an ecosystem of applications created on the network. Solana has its own NFT marketplace which has been getting adoption by users due to its low costs of transaction fees.
Many games are being constructed on the Solana network because of its scalable network and low fees. Popular games like Star Atlas are being built on SOL, along with many more upcoming games.
Many DeFi products and projects have been built on the Solana network; these projects have billions of total value locked in their pools. Solana users can earn staking rewards for their contributions and also allow holders can also participate in the voting governance of the network.
Let us Take a Look at Near Protocol (NEAR)
Near Protocol was launched on July 1st of 2018, as a Layer 1 alternative to Ethereum to make it easier for developers to code Web3 projects & increase their scalability. The Protocol was built because NEAR originally started as an AI Machine Learning Project to research automating programs that agree with the operator’s true intentions.
This led to the exploration of programmable smart contracts & crypto payments, they combatted this by creating a protocol that would let developers create decentralised applications in a language they’re familiar with. This is made possible through the major underlying components in Google’s Web Protocol Assembly that most developers are used to.
Near Protocol allows for interoperability between blockchains; NEAR's ‘Rainbow Bridge’ was launched to allow NEAR projects to be convertible to Ethereum. This was made possible, as it works as a wire transfer because Near Protocol has very similar properties to Ethereum in its blockchain.
To conclude, it would be wise to consider diversifying your crypto wallet and it would be advised to do thorough research before deciding which cryptocurrency to invest in. CashFi is on the rise and grabbing it whilst it is in its presale phase would be highly beneficial as once it is launched you could potentially make a good return on your investment.