The cornerstone of Blockchain solutions is decentralization. This has been observed in how decentralized systems improve the ease of financial transactions, keep transactions safe, transparent, and secure, eliminate central authorities and censorships, improve turnaround time, and reduce operational costs. Decentralization drives cryptocurrency, and it is worthy of note to see crypto projects imbibing more decentralized features to compete in a highly competitive and cutthroat financial market. Decentralization effectively removes the proprietorship and control of a project from one central authority or team and confers governance and control to the community members.
It is interesting to see how community participation drives Blockchain systems, as the community members have a personal relationship with the protocol interface and know the important improvements and additions to include to make the protocol run better and serve them more effectively.
Algorand (ALGO), The Sandbox (SAND), and Stakenomics (STAK) are three important crypto projects championing and prioritizing decentralization above all else in the crypto industry.
Algorand (ALGO)
It’s hard to talk about truly decentralized protocols without considering Algorand (ALGO). The platform is a fully decentralized and open-source Blockchain ecosystem developed primarily to solve Blockchain issues on speed, security, scalability, and decentralization.
Algorand (ALGO) was created in 2017 by a team led by computer scientist Silvio Micali, an accomplished MIT professor in cryptography.
The throughput of the Algorand protocol is truly impressive as it offers near-instant transaction completion, high security, low transaction fees, and high transaction speeds, with the ability to process 1000 transactions per second (TPS).
What does the Algorand (ALGO) Ecosystem have to Offer?
Algorand runs on a special variant of the proof-of-stake consensus mechanism called the pure proof-of-stake. Proof-of-stake has been established as a more favored method of achieving consensus over the proof-of-work module due to its lower operational costs, near efficiency, low energy consumption, and more nodes to achieve higher throughput and increase the number of transactions the network can process.
In the pure Proof-of-Stake (PoS) system, all Algorand (ALGO) holders share in the validation rewards, as a fraction of the transaction is distributed to all wallets holding ALGO. Staking is not required to participate in this consensus module, and holders can earn a 4-6% APY simply by holding on to their ALGO coins.
Algorand (ALGO) facilitates the building of smart contract-powered decentralized applications (dApps) and decentralized finance (DeFi) tools. It offers a framework where developers can easily fill in their tools or applications and build a smart contract around them.
Algorand (ALGO) issues a standard for all tokens built within its ecosystem. Much like Ethereum’s ERC, Algorand deploys the use of the ASA (Algorand Standard Asset), which verifies all assets written on the Algorand Blockchain to improve security within the ecosystem.
The 2 layer structure of Algorand can also be credited for the high level of scalability on the network, with Layer 1 (Base layer) handling token creation, smart contracts, NFTs, and transactions, while Layer 2 deals with more tasking transactions and processes that may take up more space and processing power.
Algorand also has two organizations governing it; the Algorand Foundation (Non-profit), and the Algorand Incorporated. The foundation deals with governance and protocol improvement while providing certified crypto courses and education programs in schools like UC Berkeley and MIT. Algorand Foundation has also hosted hackathons and Blockchain events for community growth and to improve Blockchain adoption.
Algorand Incorporated is primarily concerned with operational activities, and they are responsible for developing and improving the base layer of the protocol to make it more efficient.
Algorand prides itself on being carbon negative, as it operates on the proof-of-stake module and works closely with Climate Trade. This company is concerned with environmental protection and carbon-neutral solutions.
The ALGO Token
ALGO is the native token that powers the Algorand ecosystem. Apart from the utility with transaction fees and trading, the token also offers governance, as holders can contribute to the operation of the network by committing their ALGO coins to the protocol for a 90 day voting period. The ALGO coin is inflationary, with a 10 billion total supply and about 7 billion coins in circulation.
The Sandbox (SAND)
A huge downside to the gaming industry is that users do not truly own their in-game assets and are not adequately rewarded for peak gameplay and in-game activities. The Sandbox (SAND) aims to change that with a very innovative solution; the Metaverse.
The Sandbox (SAND) is an open-source blockchain-based digital gaming ecosystem that facilitates the creation, trading, development, and monetization of virtual property called LAND.
Pixowl launched the Sandbox in 2012 as a virtual gamescape to rival Minecraft. The project caught on, as Sandbox enjoyed gameplay and adoption worldwide. In 2018, however, after observing the success of similar projects like crypto kitties and Axie infinity, Arthur Madrid and Sebastien Borget explored the possibility of a virtual gaming environment or metaverse built within the Blockchain. This led to the Sandbox launch in 2020 on the Ethereum network. Since its launch, it has remained one of the fastest-growing crypto games.
Virtual Realtors and Land Owners
Sandbox users (SAND) can build, host events, rent, and trade their lands for money. The Sandbox provides 3D editing software for creating in-game items and wearables that can be traded as NFTs on the marketplace. SAND, the native and utility token within the Sandbox metaverse, can be used to purchase gaming items, virtual land, and NFTs. Rewards can be earned by interacting with the Sandbox environment, trading, and staking SAND tokens.
Governance within the Sandbox metaverse is also achieved by staking SAND tokens to become a validator within the protocol. Validators have a say in the project’s key roadmap features and decision-making processes within the ecosystem. SAND holders who are not interested in being validators can also delegate their tokens to validators of their choosing to share a percentage of their rewards.
Collaborations within The Sandbox (SAND)
Since its launch in 2020, and especially because of the good year that NFTs enjoyed, the Sandbox has seen a lot of notable community members. Snoop Dogg has built his SnoopVerse within the Sandbox, and as a valuable piece of virtual real estate, it, in turn, increases the value of the land around that area. GREENPARK, an NFT development company, has also joined in the migration into the metaverse through Sandbox. The Sandbox features an NFT museum, virtual theme parks, and impressive virtual builds.
Stakenomics (STAK)
Stakenomics (STAK) is a decentralized and open-source blockchain project that effectively solves the problems of censorship, centralization, scalability, and security within the crypto industry by fostering groundbreaking long-term solutions to these problems.
In the area of censorship, Stakenomics (STAK) maintains the highly anonymous Proof-of-Stake consensus mechanism. This helps to clamp down on mining activity which could be noticed by countries with strict crypto policies. The proof-of-stake system is also highly transparent and decentralized, effectively solving the problems of security and centralization.
Due to the high transaction throughput enabled by the proof-of-stake consensus model, Stakenomics (STAK) is highly scalable, built on the Binance Smart Chain (BSC), a highly scalable, secure, and decentralizedBlockchain.
Stakenomics (STAK) offers low, stable, and predictable fees while fostering truly decentralized solutions through its decentralized exchange platform (DEX), incorporating features like yield farming, staking, lending, and borrowing protocols. It also drives Blockchain adoption through its Learn and Earn program, rewarding users for consuming informational content on Blockchain technology and cryptocurrency.
The Stakenomics Tokenomics
Stakenomics Token (STAK) is the native token of the Stakenomics protocol. It offers access to the Stakenomics DEX and provides wealth and value throughout the project. It is a BEP-20 token with a 10 million max supply and a dynamic distribution plan that goes thus:
- 10% STAK— Staking
- 15% STAK— Team
- 10% STAK— Advisors
- 15% STAK— Liquidity
- 20% STAK— Public Sale
- 25% STAK— Private Sale
- 5% STAK— Community
Stakenomics chiefly utilizes staking and burning to drive its ecosystem. By staking STAK, users can gain passive rewards, provide liquidity for the protocol, and earn governance privileges and voting rights. Burning involves sending STAK tokens to an inaccessible wallet disconnected from the Blockchain. This process would reduce the number of STAK in circulating supply, increase demand, and improve the market performance of the STAK tokens.
The Stakenomics (STAK) Roadmap
The Stakenomics (STAK) project’s roadmap features workable, remarkable, and dynamic activities that would foster Blockchain adoption, STAK market dominance, financial growth within the protocol, and community support. The Stakenomics (STAK) roadmap features activities that include:
- Stakenomics Website creation
- Seed funding to launch the project
- STAK private sale
- STAK public sale
- STAK listing on CEX and DEX platforms
- Staking and Liquidity provision protocols within Stakenomics DEX
Observing the Stakenomics project, it is easy to notice the team’s dedication and commitment toward true decentralization. As the crypto industry evolves, Stakenomics would leave a lasting imprint on the Crypto market as a potentially valuable digital asset.
Presale: https://register.stakenomics.io
Website: http://stakenomics.io/
Telegram: https://t.me/StakenomicsOfficial