Different cryptos in the crypto market today perform specific functions that make them special and also allow them to cater to the needs of their users in the crypto market. Supontis (PON), The Sandbox (SAND), and Litecoin (LTC) are three cryptocurrencies whose use cases are beneficial for their users and ultimately to the development of the financial market.
Supontis (PON) is Bridging DeFi Blockchain Networks
The PON token is a decentralized token that powers the Supontis (PON) network. The Supontis (PON) network works as a bridge for transferring digital and crypto assets between blockchain networks. The Supontis (PON) network operates based on a special mechanism whereby the initiation of an asset transfer locks the digital and crypto assets in the initial blockchain and creates an equal amount of wrapped digital assets on the blockchain network.
During the transfer of the assets via the bridge, which is the Supontis (PON) network, in this case, the digital assets are not sent or moved anywhere. The special mechanism utilized by the Supontis (PON) network uses smart contract functionality which enables it to execute the transfer request for the digital assets in a two-step process. This two-step process combines the value of the moved digital assets in the destination blockchain with the native ones in the initial blockchain thereby allowing them to have the same value.
The PON token is a BEP-20 standard token that is hosted on the Binance Smart Chain (BSC). The PON, which is a utility token that is used to pay transaction fees on the Supontis (PON) network, will be available on exchanges such as Uniswap (UNI) and Pancakeswap (CAKE) upon its launch.
The Sandbox (SAND) is Building a World of GameFi
Built on the Ethereum (ETH) blockchain, The Sandbox (SAND) is a decentralized virtual reality protocol that leverages the benefits associated with gaming and finance (GameFi) to provide its users with the best features. The Sandbox (SAND) platform is secured by the Proof-of-Stake (PoS) consensus mechanism which means that the protocol is less energy-intensive and less dependent on electrical or computing powers for the performance and validation of transactions on its network.
The Sandbox (SAND) platform also utilizes the benefits of blockchain technology to enable creators and developers to create user-generated content. SAND powers the activities on The Sandbox and it has a total supply of 3 billion tokens of which 23% are currently circulating on the crypto market.
Litecoin (LTC) is Facilitating Fast Transactions
Designed to provide fast, secure, and inexpensive payments, Litecoin (LTC) is the second purest cryptocurrency on the coin market that was created based on the underlying technology that supports the Bitcoin (BTC) network. Litecoin (LTC) was developed in 2011 by Charlie Lee with the main purpose of allowing the conductance of fast and cheap transactions on its network compared to that of Bitcoin (BTC). Litecoin (LTC) validates transactions quicker than Bitcoin (BTC) because of its special hashing algorithm and its block time of 2.5 minutes.
With a total supply of 84 million tokens of which 70 million are in circulation, the LTC token is the native token of the Litecoin platform. The Litecoin (LTC) platform is secured by the same mechanism that secures the pioneer cryptocurrency called the Proof-of-Work (PoW) consensus mechanism.