Crypto News Flash – Exploring The Innovative Utilities of Shiba Inu, Chainlink, and Persystic Token
Innovation is the driving force of the cryptocurrency market. New projects are introduced into the market every day. The best way to find out what you stand to gain from a crypto token is by checking through its utilities. If it has a strong use case, then it has the potential to do well. This piece will look at top crypto tokens with properly laid-out use cases – Shiba Inu (SHIB), Chainlink (LINK), and Persystic Token (PSYS).
Shiba Inu (SHIB)
If you’ve been in the world of crypto for some time, you’ll have heard about meme coins. These cryptocurrencies are different from other tokens in the coin market because they are designed to offer absolutely no utility. Unlike other projects focusing on a particular area of human living, meme coins fail to do so. But this idea changed with Dogecoin. This meme coin ushered in renewed interest in the crypto space. However, it didn’t take long before another cryptocurrency project decided to copy most of its features while improving on some of them. Shiba Inu was the next major project to emerge from the meme sector. What’s more? It managed to overtake Dogecoin as one of the biggest tokens in the coin market.
Shiba Inu is an Ethereum-based meme token that features a dog theme. When this cryptocurrency was launched, it was popularly regarded as the Dogecoin killer. Why? Because it offered better utilities than Dogecoin. To start with, Shiba Inu was developed by an anonymous entity known as Ryoshi in 2020. Shiba Inu adopted a community-driven approach and has an active community of users known as the Shiba army. They are responsible for driving the token forward. Shiba Inu also adopts an ecosystem that’s made up of three tokens; SHIB, LEASH, and BONE. SHIB is the native token of this ecosystem. Unlike DOGE, there’s a limited number of SHIB tokens – 1 quadrillion.
Before, cryptocurrency tokens and blockchain technology had difficulty interacting with non-blockchain technology. As a result, combining the unique features of several unrelated systems was impossible. If blockchain will provide crypto users with near limitless decentralized features, then it has to be able to interact with external elements. Chainlink is the cryptocurrency project that’s set to tackle this problem. Chainlink runs on a decentralized network and uses smart contracts to control its transactions. Users can close the gap between on and off blockchain systems by relying on the Chainlink oracle. This middleware will be an intermediary that will translate data from the real world to smart contracts on the blockchain.
There are different types of smart contracts on this platform that can be used to process and collect data. Chainlink will aggregate the collected data to a particular point and trigger its execution with smart contracts to process transactions. Doing this can avoid a centralized point of failure that will threaten the entire system. LINK is the native token of this platform. It’s used to facilitate transactions on the Chainlink system. What’s more? This ERC-20 token also settles node operators for facilitating smart contracts. Users are expected to stake LINK tokens to become node operators and earn passive rewards from the platform.
Persystic Token (PSYS)
The Persystic Token is a new addition to the coin market, but it’s capable of many things. As a result, many crypto experts and enthusiasts have touted it as the next big cryptocurrency to emerge from the cryptocurrency market and thrill users with what it offers. Persystic plans to be a crypto token that offers a completely decentralized ecosystem where users will get to earn passively. Persystic is designed from a desire to create a cryptocurrency token that’ll ensure that users can communicate and interact freely. Today, most social media platforms are controlled and regulated by strict regulations. Persystic aims to break this strict control with blockchain technology.
Persystic is designed on the Binance Smart Chain. As a result, it can process transactions quickly and at a cheap rate. PSYS is the native token of this network and is BEP-20 compatible. Crypto users can add PSYS tokens to their portfolio by participating in the presale. You’ll also enjoy lucrative bonus offers on your purchase. Users participating in the presale’s first stage will enjoy a 5% bonus, while the second stage will offer a 4% bonus.