Buckle up folks, as we investigate some of the most promising cryptocurrency platforms that could see healthy returns and help those looking to navigate the world of decentralised finance. Read more to find out about the revolutionary Uniswap (UNI) trading platform, the problem-solving Cosmos (ATOM) blockchain technology.
Uniswap (UNI): Awe-Inspiring Automated Trading
Uniswap (UNI) is more than just cryptocurrency – it is a trading protocol that is most well-known for the role it plays in expediting fully automated trading for decentralised finance (DeFi) tokens. The phenomenon of decentralised finance and a subsequent upsurge in token trading saw a rise in popularity for this fastidious trading platform amongst investors.
Uniswap (UNI) exists to produce liquidity for the DeFi world, in its attempts to efficiently solve the liquidity issues that afflicted the first decentralised exchanges (DEX) that appeared in the crypto scene. The radical platform was among the first to launch on the Ethereum blockchain and stood out against the crowd for those well-versed in the investment of self-custody assets. Uniswap(UNI) employs an automated system of market making, providing users with an incentive to utilise the platform due to the protocol’s removal of identity requirements for DEX users. This means that users can trade without the need for an order book, granting them autonomy over their assets while limiting risk and reducing costs for all parties. So, anyone who holds a pair of tokens can easily and efficiently create a liquidity pool for their tokens. Uniswap (UNI) is now venturing into the NFT game, with the launch of its own NFT marketplace aggregator called Genie- which will help users discover, buy, and sell these unique non-fungible tokens across multiple marketplaces, through just a single transaction. This significantly reduces their gas fees and opens the floodgates for bountiful streams of possible income.
Cosmos (ATOM): Commendable Communication
Now let’s delve into the world of Cosmos (ATOM), a self-proclaimed problem-solving project that aims to demystify decentralised apps (dApps) and provide an antidote to some of the ‘hardest problems’ that are currently facing the blockchain industry. By offering a well-structured ecosystem of connected blockchains, Cosmos (ATOM) aims to aid those plagued by the slow-running, expensive and environmentally harmful proof-of-work protocols, employed by the likes of Bitcoin for example, through an easy-to-use modular framework.
This framework provides an Interblockchain Communication protocol that makes it much easier for blockchain networks to communicate with one another, to prevent further dilapidation within the crypto industry. The Cosmos (ATOM) network is made up of three main layers: the application, networking and consensus. The application layer processes transactions and updates the state of the network, the networking layer allows for communication between said transactions and blockchains and finally, the consensus layer helps the nodes agree on the system’s current state. The open-source tools that the Cosmos network provides, allow for the various layers to stay connected and enable developers to easily build their dApps. But perhaps the most fundamental aspect of this layered design is the Tendermint BFT engine. This function allows developers to build blockchains without having to code them from scratch, as it bundles the crucial processes needed for blockchains- such as the peer-to-peer network, consensus algorithm and transaction processing- into one convenient coding package. Everything you need to reach for the stars for budding cryptocurrency and blockchain technology pioneers.
It Looks Like A Tie!
When comparing the two platforms, it is difficult to state which trumps the other. Both offer a simplified process for which developers can gain more control over their assets and integrate themselves within the world of decentralised finance in an accessible and (hopefully) less intimidating manner. The collapse of FTX saw an upheaval in the cryptocurrency world and the dissemination of scepticism across the industry. But, with the rising success of both the Uniswap (UNI) and Cosmos (ATOM) networks, crypto folks can be reassured that whatever digital assets they choose to invest in, are under their autonomous control. At the time of press, the price of Uniswap (UNI) sits at $6.94 and has gone up by 1.27% in the last 24 hours. Cosmos (ATOM) is sitting pretty at $15.21 and has gone up nicely by 3.68%. Very reassuring indeed!
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