In a market that is extremely oversaturated, it can be difficult to stand out from the crowd. There are now over 18,000 cryptocurrencies in existence, an impressive yet daunting statistic for anyone looking to create a new blockchain. Prominent blockchains such as Polygon (MATIC) and Decred (DCR) have managed to solidify themselves in the crypto market through their reputable mechanisms and features. An upcoming blockchain that has been getting the attention of crypto enthusiasts is Mountanaz (MNAZ), which is currently in phase one of its presale stage. Its official release date is two months away (29 July) meaning that people still have time to invest in MNAZ at a cheap price, however, does it have the capability of being a strong force that brings something different to crypto?
What Mountanaz (MNAZ) has to offer
The crypto market still needs to wait until 29 July 2022 for the official release of the highly anticipated currency Mountanaz (MNAZ). It is in the first stage of its presale, having a reasonable starting price of $0.111111. Mountanaz markets itself as a community governed decentralised finance platform that focuses on four elements: governance, decentralisation, staking and lending. The process of staking involves retaining tokens in a crypto wallet to support the blockchain’s operations and security. Essentially, staking creates liquidity pools that divide incentives proportionally among the liquidity supplier and staker.
Being an MNAZ token holder also permits you to participate in yield farming, a practice where users invest their cryptos to maximise their return. Yield Farming enables users to stake or lend cryptocurrency coins, and in exchange, they will receive transaction fees or interest as compensation. In the context of using traditional banking, this would be the equivalent of earning interest in a bank account. Mountanaz is based on the Binance Smart Chain (BSC), offering fast functionality during heavy user volume.
How Polygon (MATIC) brought something new to crypto
Polygon (MATIC) is a platform that aims to contribute to the Ethereum ecosystem by connecting Ethereum-compatible blockchains. It is a layer two solution which is designed to assist the Ethereum ecosystem in improving its functionality. Polygon’s multi-chain functionality allows it to be akin to blockchains such as Avalanche (AVAX), Polkadot (DOT) and Cosmos (ATOM). Polygon launched in October 2017 under the name Matic Network, aiming to accomplish a compatible well-structured and easily usable outlet. MATIC has brought a layer 2 scaling solution to the crypto ecosystem, something that aided the contribution of reducing the complexity of scalability and instant transactions across blockchains.
The impact of Decred (DCR)
The inception of Decred (DCR) came in February 2016, as a protocol aiming to facilitate community innovation, open governance and sustainable funding policies. According to the currency’s whitepaper, the construction of Decred was done so well that the community approves all changes and transactions made regarding the protocol. Its combination of Proof-of-Stake (PoS) and Proof-of-Work contributes to the currency achieving great usability through using the two systems. By doing this, DCR has eradicated their flaws and instead, has given users a layered consensus process – providing it with strong and reputable security in comparison to other currencies.
Conclusion
Both Polygon and Decred have made an impact on the market by providing unique functions and features that have led to them both being ranked in the top 100 cryptocurrencies on coinmarketcap. With its entry into the market being two months away, the MNAZ coin seems to offer a simple and efficient functionality to users – factors which could lead to it having a promising future.
More information on Mountanaz (MNAZ):
Presale: https://purchase.mountanaz.io/register
Website: http://mountanaz.io