A cryptocurrency is a digital asset that is protected by cryptography, which safeguards the currency from being counterfeit. Many cryptocurrencies are based on blockchain technology and function on decentralized networks. Cryptocurrencies are operated and distributed without the intervention of central authorities like the government and banks.
Cryptocurrency is a relatively new phenomenon; it began in 2009 with the advent of Bitcoin. In a short period, cryptocurrency became a trillion-dollar industry and changed the financial landscape forever. There are several reasons why cryptocurrencies are so popular.
Users are well aware that cryptocurrency trading can be a lucrative endeavor. For instance, Bitcoin’s value was thirty-two dollars in 2011. A decade later, its token price soared to sixty-nine thousand dollars before the crypto crash in 2022.
Likewise, Ethereum’s value has quadrupled every year since its release! Since traders are motivated by profit, they are enticed by cryptocurrencies. In 2021, El Salvador, a country in Central America, began accepting Bitcoin as a legal tender.
After years of rejection, the historic move gave considerable credence to cryptocurrency. Traders are hopeful that other countries will follow El Salvador’s example.
More merchants are accepting cryptocurrency payments, and numerous governments have eased their stance recently. The application of blockchain and metaverse technologies has grown rapidly.
Unfortunately, cryptocurrency has been crippled by a market-wide crash in the summer of 2022. In the following passages, we will study three cryptocurrencies to determine how the market is performing: TRON (TRX), Cronos (CRO), and Big Eyes (BIG).
TRON (TRX)
TRON is the 16th biggest cryptocurrency based on market capitalization, which is 6 billion. TRON’s token price is 0.066 dollars. Both figures mentioned have remained constant in the last twenty-four hours.
The daily trading volume of TRX is 457 million, a significant increase of 9.3%. A decentralized, blockchain-oriented operating system, TRON was released in 2017 by Tron Foundation. Initially, tokens were based on ERC-20 and supported by Ethereum before they moved to the resident network.
The idea behind TRON’s creation was to grant content creators full ownership privileges. Typically, platforms give content creators a small percentage of the income. On the other hand, TRX rewards users with more incentives to encourage them to produce more content.
In addition, TRON facilitates blockchain technology, smart contracts, and decentralized applications (dApps). The transaction mechanism, UTXO, is similar to Bitcoin’s model. All transactions are conducted in a public ledger, and users can track their history.
The TRON network is governed by certain conventions, which include:
- The data on the network is free and not regulated by a central body
- Content creators receive TRX tokens as compensation for their work
- Token holders can utilize their coins to create applications
- TRON conducts decentralized games
Furthermore, the TRON (TRX) ecosystem has three levels that streamline operations. The three layers of the TRON ecosystem are:
Storage layer: All information is stored and segmented here
Application layer: TRX is employed by developers for the creation of applications and wallets
Core layer: The final layer where instructions are computed in either Java or Solidity language and sent to the Tron Virtual Machine for execution
TRON uses a proof-of-stake (PoS) protocol, making it considerably more energy-efficient compared to other platforms. The proof-of-work (PoW) mechanism enables TRON to conduct approximately two thousand transactions per second, free of cost.
Cronos (CRO)
The second token we’ll uncover is Cronos (CRO). Cronos ranks in 25th place with a market cap of 3.87 billion and a token price of 0.128 dollars. Both values have declined by 3.2% from yesterday.
In the same duration, the volume of CRO tokens traded is 17 million, increasing by 2.2%. CRO is the native token of Cronos Chain, a decentralized, open-source blockchain designed by Crypto.com, and launched in 2016. Cronos went live in 2018.
The original name of Crypto.com was “Monaco Technologies GmbH.” The founding partners were Kris Marszalek, Bobby Bao, Rafael Melo, and Gary Or.
The parent company boasts several commodities, and Cronos is just one example; it aims to utilize its products to expedite the adoption of cryptocurrencies. The advantages of cryptocurrency are that users will have greater control over their money, and their identities and data will be protected.
The main objective of Cronos (CRO) is to give utility to token holders who use the payment, trading, and financial services provided by Crypto.com. Typically, users stake their tokens for verification.
Moreover, Cronos Chain is an Ethereum-enabled blockchain released in 2021, and it’s compatible with the Crypto.com blockchain. The two entities work in the same vein as Binance Smart Chain and Binance Chain. The mainnet is developed using Cosmos SDK and employs a proof-of-authority (PoA) consensus protocol.
Cronos Chain works with Ethereum Virtual Machine (EVM), allowing the former to transfer countless decentralized applications on its platform. The link with EVM also enables Cronos Chain to create a bridge with Cosmos dApps through Inter Blockchain Communications (IBC) protocol.
Big Eyes (BIG)
TRON and Cronos are high-ranking and well-established tokens in a competitive market. The cryptocurrency we’ll discuss next is a brand new one called Big Eyes (BIG), a full-fledged community token created to transfer wealth into the DeFi ecosystem and save the world’s oceans.
Essentially, the more money that moves into the decentralized finance ecosystem, the greater the chances of saving the world’s ecosystem.
Usually, community-oriented tokens are utilized for wealth creation for charitable purposes. Big Eyes is different because it aims to sustain a blockchain ecosystem that grows exponentially using Non-Fungible Tokens (NFTs).
The NFTs will allow users access to exclusive content and events. Big Eyes is an adorable male feline who is aptly named because his eyes are big and cute. BIG loves devouring fish, which is why he intends to save the oceans; after all, he has to eat! Big Eyes was born in Washington, D.C., and adopted by a rocket scientist working at NASA. The two formed a loving bond, and his owner taught BIG about space engineering.
Unfortunately, when Big Eyes was just three years old, his owner passed away. To cope with his owner’s loss, BIG boarded a yacht, travelled the world, practiced yoga, and learned more about the oceans.
Sadly, Big Eyes went overboard and was lost at sea until a humpback whale saved his life. The whale took BIG to Japan, where he studied the culture, made sushi, and practiced Zazen, a form of meditation. It was here that Big Eyes had an epiphany: he would embark on a journey to save the oceans!
How to buy Big Eyes?
If you are looking to buy BIG, the process is divided into three parts. Users must configure MetaMask on their browsers, which may be on their desktops or mobile devices. Once the wallet is ready, users must connect it and select the purchase option. Users can buy ETH by card, acquire BIG with ETH or purchase BIG using USDT. When the presale ends, users can claim their Big Eyes tokens.
Most of the key performance indicators of TRON and Cronos have grown, which is a great sign for new tokens like Big Eyes. Each new token must contend with a market that is a) highly competitive and b) suffering the repercussions of a devastating crash. Big Eyes has several attributes that could potentially make it a success when launched.
The tokenomics or the “cuteomics” of BIG are that the total supply of tokens will be 200,000,000,000. 70% of tokens will be sold at the presale stage, and 20% will be disseminated on exchanges. The remaining 10% will be allocated to a marketing wallet (5%) and charity (5%).
Enter Presale: https://bigeyes.space/