5 Cryptocurrencies That You Probably Forgot About - Take A Look At Shiba INU (SHIB), Kishu INU ($KISHU), Student Coin (STC), Chia Crypto (XCH), Safemoon (SFM)

5 Cryptocurrencies That You Probably Forgot About - Take A Look At Shiba INU (SHIB), Kishu INU ($KISHU), Student Coin (STC), Chia Crypto (XCH), Safemoon (SFM)

Summary:

  • A summary of SHIB, $KISHU, STC, XCH, SFM
  • Meme coins, Decentralised Finance, Platforms.
  • Proof of work, proof of space and time.

Shiba INU, the meme coin platform.

SHIBA INU is a type of meme token. The platform is named after the japanese dog breed who has the same name. The price movements of meme coins are frequently linked to sentiment around breaking news and influencer activity on social media. Shiba Inu is a decentralised cryptocurrency, it runs on the Ethereum blockchain, giving the token the same functionality and safety of the Ethereum platform. ShibaSwap is Shiba Inu’s own decentralised platform for trading tokens.

Shiboshis is Shiba Inu’s own non-fungible token (NFT), an NFT ownership basically means that when an investor buys an NFT they get to say they have ownership rights of an original copy of a digital file. Investors tend to enjoy following the Shiba Inu token due to its clever methods used to give high crypto returns.

Read more on Shiba INU here: Meme coins: (SHIB) What Is Shiba Inu Token? Shiba Inu Coin Price. What Makes This Altcoin So Special? Clever Methods Used To Give High Crypto Returns 

The Kishu Coin Platform.

$Kishu, is a decentralised meme-coin that is community-focused, active users of the coin receive instant rewards. When users make a Kishu transaction, they receive a 2% reward in a decentralised wallet, thus, the more KISHU is used, the more rewards are granted to its users.

The $KISHU coin’s smart contract has been audited and its LP (liquidity pool) tokens have been burnt. The smart contracts in KISHU Inu means the community and users are almost completely protected from any bad actors.

Read more on the Kishu Coin platform here: A Reward For A Transaction!? What Is Kishu Inu Coin? ($KISHU) Let's Take A Look At This New Altcoin 

The Student Coin Platform.

According to the studentcoin.org website, Student coin is the first crypto coin that allows users to easily design, create and manage personal, start-up, NFT and DeFi tokens. The mission of Student Coin is to allow organisations and people to create, manage and develop their own tokens, they hope that through this platform they will achieve a concept called tokenization.

The aim of Student Coin is to “enable scalability of startups in their early stages by creating an opportunity for numerous investors to engage through tokenization, which also contributes to increased visibility, customers, and the fundamental values.”

Student Coin has many products namely, STC Terminal, STC Wallet, STC Staking, STC Voting, STC Academy, STC Exchange. All of which make up the basis of the Student coin platform

Read more on the student coin platform here: Altcoins: What Is Student Coin (STC)? The First Of Its Kind! "Easily Design, Create And Manage Personal, Start-up, NFT and DeFi Tokens"! What Will The Future Hold For This Polish Crypto? 

The Chia Crypto Platform

Chia cryptocurrency is a type of crypto that aims to use the space already in circulation (proof of space and time), their mission statement aims to build a more sustainable, more secure and more powerful blockchain. The coin is based on an innovative consensus algorithm which leveraged the over-allocated hard drive space to create the first new Nakamoto consensus since Bitcoin in 2009.

The Chia crypto uses the ‘proof of space and time’ which allows coin farmers to prove that they allocate unused harddrive space to the network. The proof of time and space improves the attack resistance of the network by 51%.

Chia is as secure as other proof of work cryptos whilst being less energy intensive. Chia delivers a high quality coin, with the safety and security inline with Bitcoin along with the functional benefit of a purpose built and more secure on chain smart coin environment.

Summary of the advantages of Chia coin:

  • The coin uses 0.12% of the energy that Bitcoin uses and 0.23% of the energy that Ethereum uses.
  • Better security due to its more decentralised blockchain.
  • More eco-friendly than other crypto coins.

Read more on Chia coin here: https://www.fxmag.com/crypto/what-is-chia-coin-xch-first-new-nakamoto-coin-since-bitcoin-launch-2009 

The Safemoon platform

SafeMoon is one of the newer cryptocurrencies on the market, having been launched in the first quarter of 2021 SafeMoon had around 2.9 million holders in January 2022. The token's founders wanted a coin that would ensure “safe” gains. SafeMoon designed its products to resist volatility through offering rewards to its investors for holding their coins.

There are 4 Functions that occur when a SafeMoon trade occurs:

  1. Reflection: 4% of the transaction is distributed to all coin holders. This is in an attempt to lessen the problems the platform is facing regarding mining rewards.
  2. LP Acquisition: 3% of each transaction is added to liquidity. The automatic liquidity pool is seen as an advantage of SafeMoons coins, it creates a solid price floor for both buyers and sellers.
  3. Manual Burn: 2% of tokens are burnt. The burning of SafeMoon Tokens is manual instead of continuous, this is in an attempt to increase the value of the coins for long-term investors.
  4. Growth Fund: 1% is added to the SafeMoon Ecosystem Growth Fund.

Read more on the Safemoon platform here: What Is SFM? Does The Altcoin SafeMoon (SFM) Have A Bright Future? 

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.