New coins are being added to the crypto market daily; investors are especially intrigued by new projects as a result of the market crash that happened last week. A new project that is set to be the next crypto to explode is Parody Coin (PARO), we will also be reintroducing you to two big names in the crypto market that shouldn’t be forgotten: Polygon (MATIC) and Dogecoin (DOGE).
Parody Coin is a deflationary token that enables trading and minting on the BNB Chain, Ethereum and other blockchains. With PARO being a deflationary token, this means that there is a limited supply of coins in circulation and this will only decrease over time. Certain cryptos use different deflation measures but the reason for the decrease in supply means that the value of each coin increases if demand stays consistent.
Parody Coin ecosystem aims to make NFTs and all aspects of the NFT market accessible to everyone.
On the Parody Coin whitepaper, it states that the platform provides the capability to mint parodies of the most well-known NFTs and it also provides a system to trade NFT parodies that will permit users to make revenue.
Polygon is a decentralised Ethereum scaling solution aiming to improve the speed and reduce the cost and complexities of transactions on blockchain networks, specifically Ethereum.
Polygon essentially revolves around Ethereum, a platform that is home to a range of decentralised applications, virtual worlds, games, artwork, and a range of financial products.
However, Ethereum has large limitations in terms of scalability, as due to a large amount of network usage the Ethereum blockchain is congested, which leads to slow transaction speeds and high gas fees. Meaning that despite everything Ethereum has to offer, many are deterred from using or developing on the network due to its limitations.
Dogecoin was created at the end of the year in 2013 as a meme coin differing from the majority of serious cryptos that existed. It is the oldest standing meme coin and quite frankly, could be the sole cause of the crypto meme culture.
Dogecoin was made in less than five hours - the coin was invented as a joke but grabbed much attention in its early stages, with more than one million website visits within a month of being released.
Users of the network can send coins to anyone with a DOGE address for relatively cheap transaction fees. Since the network was forked from Litecoin, blocks are created every minute; this enables transactions to be processed quickly.
Unlike the majority of cryptocurrencies, Dogecoin is an inflationary coin, meaning there is no limit on how many coins can be generated over time.
Parody Coin has many interesting features to offer and another good thing is that stage three of the presale started not too long ago, with a total supply of tokens set at 240 billion Parody coins.
Parody Coin (PARO)