5 Cryptocurrencies That You Probably Forgot About - Aqru (APY), Terra (USDT), Polkadot (DOT), Tron (TRX), Monero (XMR)

5 Cryptocurrencies That You Probably Forgot About - Aqru (APY), Terra (USDT), Polkadot (DOT), Tron (TRX), Monero (XMR)

Summary:

  • A summary of APY, USDT, DOT, TRX, XMR
  • Listed equities, stablecoins, dApps
  • Proof of work, proof of stake, proof-of-history.

Aqru Trading Platform

Aqru cryptocurrency is one of the only listed equities primarily offering exposure to the DeFi sector. Aqru currently offers a yield on certain cryptos such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), USD Coin (USDC) and Dai (DAI).

In order to ensure security for its users whilst they earn interest, Aqru makes use of encryption in transit, encryption at rest and address whitelisting. Users are able to protect their assets with their bank level security and deposit protection insurance, this happens because Aqru makes use of a multi-layered insurance policy, this protects the value of users assets from hacking. In addition Aqru uses the latest Multi-stig technology from Fireblocks (a leading wallet provider) to keep users' assets safe.

To give their users peace-of-mind, Aqru generates yield from leading providers that have robust audit histories and those that have significant assets under management. In addition, yield opportunities are monitored by the experienced risk management committee to ensure Aqru stays ahead of all market trends.

Read more: Making Interest On Crypto Holdings!? Aqru: Cryptocurrency Staking Platform 

Terra USDT Platform

Terra is a public blockchain protocol that deploys a suite of algorithmic decentralised stablecoins which underpin a thriving ecosystem which brings decentralised finance to a large number of users. Terra assets are supported by leading blockchains.The protocol uses a combination of open market arbitrage, incentives and decentralised oracle voting. With this combination, Terra makes stablecoins that track the price of any fiat currency.

Terras protocol is scalable, which is designed to maintain Terras price stability regardless of volatility, demand or market size. Terras protocol incentivises validators and delegators with staking rewards, in the form of gas and swap fees

Terras coin uses a proof-of-stake model, which means validators verify transactions based on the number of coins they hold. Proof-of-stake models are less energy intensive than some competing models.

Read more: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol 

Polkadot (DOT) Platform

Polkadot is an open-source protocol built for everyone, it is founded by the Web3 foundation. The Web3 foundation has commissioned 5 teams and over 100 developers to build Polkadot. The aim of Polkadot is to enable a completely decentralised web whereby the users are incontrol. The protocol is built to connect private and consortium chains, oracles, public and permissionless networks and future technologies that are yet to be created.

Polkadot features include: true interoperability, economic and transactional scalability, easy blockchain innovation, security, user-driven governance. Security is ensured through the use of proof-of-stake consensus algorithms. Polkadot’s purposes: governance, staking and bonding.

Read more: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol 

TRON (TRX) platform

TRON is a decentralised, open-sourced blockchain-based operating system which has smart contract functionality and a delegated proof-of-stake principle as its consensus algorithm. TRX TRON cryptocurrency platform uses a transaction model that is similar to Bitcoin. Transactions take place in a public ledger, where users are able to track the operations history.

The TRON platform was created to decentralise the internet and serves as a tool for developers to create decentralised applications (dApps), this acts as an Ethereum alternative. The creation of decentralised applications and creating content on the TRON network is available to anybody.

This delegated proof-of-stake is an alternative to the proof-of-stake (PoS) and proof-of-work (PoW) consensus algorithms. The delegated proof-of-stake system is a competitive advantage for the TRON network as it makes it much more energy efficient.

JustLend is TRONs first official lending platform, the lending platform interest rates of its fund pools are determined by an algorithm based on TRONs asset supply and demand. JustLend aims to build a decentralised lending protocol and hopefully become TRONs first official algorithm-powered decentralised bank.

Read more: (TRX) TRON USD Decentralised Blockchain Platform That Focuses On Entertainment And Content Sharing. Altcoins: A Deep Look Into The TRON Network 

Monero (XMR) platform

Monero is a privacy-orientated and open-source cryptocurrency. Its blockchain is not transparent, this makes every transaction untraceable and maintains the users’ anonymity. Its privacy makes Monero an attractive tool to use for illicit activities on the dark web.

Investors are able to mine Monero using their own CPUs, which means paying for special hardware is not necessary. Moneros mining concept is based on the belief that every person using the platform is equal and therefore, deserves equal opportunities.

Because there is no transparency in Monero and its untraceability, it is a true fungible currency. Fungible in this context refers t o the property of a currency where two units can be substituted in place of one another. Those who accept Monero transactions do not need to be concerned over tainted or blacklisted coins.

Read more: Altcoins: What Is Monero? Explaining XMR. Untraceable Cryptocurrency!? 

Sources: fxmag.com

Rebecca Duthie

Rebecca Duthie

Remote Editor and writer Intern
FXMAG.COM

Rebecca has a bachelors degree in Investment Management, a Post Graduate Diploma in Financial Planning and is currently enrolled in a Masters program in International Management with a Specialization in International Finance.