Bitcoin (BTC) and other virtual currencies have been around for years, but their chance to shine came in 2017 when they took off. The value of Bitcoin soared from about $1,000 in January to almost $20,000 by December, and other cryptocurrencies around that time, like Ethereum and Ripple, saw similar gains. This price boom led to newfound wealth for a new class of crypto millionaires.
While the average person is still trying to wrap their head around cryptocurrency, these new millionaires are busy figuring out how to spend and invest their newfound wealth.
For those looking for new options to invest in other digital currencies, Snowfall Protocol (SNW), Cosmos (ATOM), and Avalanche (AVAX) are the current expert-recommended gems with the potential to shape new crypto millionaires for the world.
One of blockchain’s most prominent features right now is liquidity or yield farming. This feature incentivizes users to find a decentralized finance (DeFi) network for their capital to multiply. The DeFi sector is as popular as crypto and is growing as fast, if not faster than crypto. As established chains like Bitcoin and Ethereum faltered under the heavy users they attracted, other technologies and chains are catching up and challenging them with their efficiency and pricing. Although Avalanche and Cosmos are more experienced than Snowfall Protocol, they may soon be overtaken by the faster horse in the race.
This competition and variety of choices have raised the demand for cross-chain functionality to support all key crypto chains. Cross-chain allows users to make transactions across different chains and lets smart contracts move from one crypto chain to another when needed. This lets DeFi platforms work better and more efficiently than on a single chain. Snowfall Protocol (SNW) offers a most welcome opportunity for users on blockchains to earn money through liquidity farming.
Snowfall Goals
Snowfall Protocol (SNW) aims to become the best option for users to earn high rewards from staking their tokens. It offers returns ranging from the lowest of 20%, and the highest yield can go up to as high as 60%, based on the type of tokens’ stake. Snowfall outweighs Avalanche and Cosmos.
Snowfall Protocol (SNW) plans to offer its users high returns through a secure protocol. This protocol runs on a method that operates by gauging and broadcasting cross-chain transactions’ validity. This happens through an interactive bridge. This bridge is built to generalize cross-chain communication and optimize the security model between asset transfers. This is unique compare to Avalanche and Cosmos.
The Snowfall goals are not just about interrupting how people transfer ERC20s like stable coins and ETH for defi. It also aims to bridge the asset transfer process of popular NFT protocols through the ERC721s & ERC1155s. The Snowfall Protocol (SNW) platforms’ custodial bridge will support this. This bridge will allow users to transfer their choice skins to any play or game in any blockchain. This will improve the communication layer in the gamefi universe. This can be taken as the equivalent of users playing on Xbox, PlayStation, and Nintendo on one platform.
Bottom Line
While cryptocurrencies have been around for a while, their potential to make new millionaires remains largely untapped. With the recent surge in popularity and media attention, more and more people are beginning to invest in Snowfall Protocol (SNW) and others like it.
For more information about Snowfall Protocol Pre-sale
Website: https://snowfallprotocol.io
Telegram: https://t.me/snowfallcoin
Twitter: https://twitter.com/snowfallcoin
Presale: https://presale.snowfallprotocol.io