Occasionally in the Blockchain industry, users notice a few projects that stand out in terms of utility demand, profit potential, and user-friendliness. These projects are usually taken up and lauded for their dedication to providing great solutions to real-world problems.
How Does Supontis (PON) Help?
The Supontis (PON) project is an answer to the major Blockchain issue of interoperability, as projects from different chains cannot interact without hassle. Supontis solves this problem by facilitating cross-chain bridging of assets primarily between the Ethereum (ETH), Binance Smart Chain (BSC), Tron (TRX), and Fantom (FTM) ecosystems.
The Supontis (PON) ecosystem is governed by a DAO, which is charged with the operational decisions and future proposals to be made within the protocol. When a user wants to transfer assets from one chain to another, Supontis locks the assets on the first chain while creating an equivalent substitute on the other chain. When the switch is reversed, the locked assets on the first chain are released, while the substitutes on the other chain are burned.
Supontis (PON) also has a staking system to create more income for its users and to ensure the security of the protocol by the proof of stake consensus mechanism. Users can stake PON tokens to earn rewards, contribute to the project’s decision-making, or secure the network.
Supontis (PON) will be available on Pancakeswap and Uniswap on launch.
Decentraland (MANA): An Escape From Reality
The Blockchain has created many avenues for income generation, and even gaming is not left out. Many Blockchain-based games provide fun and entertainment, income generation, and decentralization. Decentraland (MANA) is one such game. It is a metaverse on the Ethereum network which enables users to own, build, develop, trade, and monetize digital real estate. Users can also interact and connect within the game environment via customizable avatars.
Decentraland (MANA) is based on NFT technology, DeFi technology, and Blockchain gaming. It offers true virtual land ownership through Ethereum smart contracts, making the protocol highly secure. The MANA token is the native ERC 20 token of the game, and it is used to buy tokenized LAND, digital collectibles, and other NFT assets.
Currently, MANA is one of the leading Metaverse projects, and it has plans to branch into the Polygon Blockchain for scaling.
Chainlink’s (LINK) Solution to Blockchain Credibility
It is often wondered how the Blockchain gets reliable, timely, and accurate data in real-time. Before, this was a major problem as there were not a lot of credible on-chain sources. With the advent of Chainlink (LINK), usable, accurate, timely, and reliable data can be sourced off-chain into on-chain sources to drive Blockchain processes.
The network uses data providers called oracles to get information off the chain. These oracles are incentivized for this purpose and have to lock up their assets (Staking) to ensure their reliability. The more reliable data an oracle provides, the higher its credibility, and the higher the earning potential. Chainlink (LINK) has a proof of stake consensus model securing the network, and it uses smart contracts to drive the processes within the protocol.
The protocol was launched in June 2017 by smartcontract.com, and it is an Ethereum-based protocol. The native LINK token has many use cases within the protocol including network security, reward distribution, trading, paying transaction fees, and incentivizing node operators.
Chainlink (LINK) primarily serves to provide accurate and reliable data for the use of smart contracts.
The projects listed above have done a lot in terms of bringing solutions to existing problems. For this reason, they have enjoyed wide adoption, and still have a potential for profit in the long run. New users should always bear in mind that in the crypto community, utility always outlasts hype.
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