The recent crash in cryptocurrency made investors concerned about their investing options. Many people believed that investing in stable cryptocurrencies is better than that in new ones due to their significant stability, but this recent crash proves them wrong. Every cryptocurrency lost its market value drastically.
Currently, investors are interested in investing in newer cryptocurrencies more than ever. Mehracki (MKI) is an upcoming cryptocurrency having some significant properties you wouldn’t expect from a meme coin. Let’s dig deep into it and find out what it has to offer, and how it competes with crypto giants like Polkadot (DOT) and Avalanche (AVAX).
The Community Driven Token – Mehracki (MKI)
Mehracki (MKI) is a community-driven, friendly meme token built on Solana, aimed at reducing user concerns by bringing wealth to investors. The core idea of Mehracki revolves around cheap, fast, and borderless transactions, focusing on the comfortable industries: hospitality and tourism.
First of all, users use MKI tokens for transactions, execute customer loyalty tokens, bypass expensive intermediaries, and interact directly with consumer behaviour information to improve services. You can do other similar activities. Mehracki’s goal is to integrate it into an ecosystem that includes utility tokens, pleasing NFTs, a DAO, staking, and yield farming.
Unfortunately, the use of Mehracki is not completely free. A 0.5% fee per transaction will be used to maintain the ecosystem through staking rewards, liquidity pools, incentive payments using MKI, and rewards to developers for their contributions to the network.
The Blazing Fast Blockchain – Avalanche (AVAX)
Avalanche (AVAX) is a blockchain launched in 2020 to host dApps, a program that provides on-chain services using self-executing smart contracts. The network is known for its combustion mechanism. To delete a token in cryptocurrency, you need to send the token to an inaccessible address and effectively remove it from circulation. This process is similar to a stock repurchase, where you can raise the price of tokens by reducing the supply for a particular level of demand. As Avalanche consumes all transaction fees on the network, the supply of tokens will decrease as more people use the platform.
Avalanche has burned about 1.2 million AVAX units worth $ 112 million. The supply of AVAX is limited to 720 million. This means that you cannot create new coins, which enhances the effectiveness of the burning mechanism. The network can also handle 4,500 transactions per second, which is much higher than the current market leader Ethereum, which has a TPS of 15. Avalanche is the 12th largest cryptocurrency with a market capitalization of $ 8.5 billion. However, due to its excellent technical specifications and deflationary design, there is still room for growth in assets.
The Multi-Chain Protocol – Polkadot (DOT)
Polkadot (DOT) is another major cryptocurrency with a market capitalization of $ 11 billion. Due to its unique approach to developing dApps, it may have room for further expansion. It has an impressive performance of the assets and is equipped with a thriving developer ecosystem. Polkadot has two types of blockchains: the main network (relay chain) and at least 100 parachains (sub blockchains) that can be used to build dApps.
This design allows developers to increase project privacy and control while benefiting from the security of the main network. In November 2021, Polkadot (DOT) launched an auction of parachain slots, and the platform now has an active ecosystem of projects from DeFi to NFT.
The Polkadot (DOT) relay chain has a transaction per second of approximately 167, which is about 10 times faster than Ethereum (ETH) but much slower than new blockchains such as Avalanche (AVAX). Its unique parachain design alleviates congestion by allowing each parachain to act as a separate blockchain to compensate for the lack of speed.
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