Ethereum (ETH) and Parody Coin (PARO) are two of the most promising cryptocurrencies within the blockchain ecosystem. However, Ethereum (ETH) is more than a coin; it’s an entire blockchain platform that runs smart contracts, Dapps and cryptocurrencies.
Parody Coin (PARO) is a new cryptocurrency project similar in some ways to Ethereum. However, Parody Coin (PARO) is an internet meme currency based on the Ethereum blockchain platform with the goal to create Internet-scaled financial services that are universally accepted. In this article, we will discuss why these two coins are great options for long-term cryptocurrency investment in 2022.
Ethereum (ETH) is the largest blockchain platform in the cryptocurrency market, the second-largest cryptocurrency (after Bitcoin), and provides access to a potential of over 13,000 smart contracts. Ethereum allows anyone to build decentralised applications that can be used by network users worldwide.
Ethereum is an open-source, public, blockchain-based distributed computing platform and operating system featuring smart contract (scripting) functionality. It supports a modified Proof of Work consensus mechanism, which is designed to facilitate peer-to-peer transactions on the coin market. The Ethereum platform is not so much a cryptocurrency as it is a general-purpose smart contract execution platform.
It enables developers to build and use decentralised applications, which are marketable on the Use-a-Thon platform. These apps are any utility or skill that can be performed in the real world. They may be simple or complex. Many successful projects have been built on top of Ethereum’s virtual machine including SingularityNET, Golem (MGO), Augur (REP), Maker (MKR) and many more.
Ethereum (ETH) uses blockchain technology to process and verify contracts, but it can be used for more than just financial transactions. The contracts on the platform are designed to usher in a future where everyone can take part in major decisions affecting the market. CoinMarketCap ranks Ethereum (ETH) at number two globally, with a live market cap of USD 147,359,996,828. It has a total circulating supply of 121,187,689 ETH tokens.
Parody Coin (PARO)
Parody Coin (PARO), an entertainment-focused social network, is a new cryptocurrency that provides a forum for all types of decentralised creative content. It is based on the Ethereum platform and allows independent creators to create digital goods, sell merchandise and sell digital goods, as well as participate in various promotions with PARO tokens.
Many investors have already purchased PARO during its current presale phase, believing that it may eventually replicate the success of Binance Coin (BNB). PARO will be one of the first meme tokens with backed-up assets or usefulness in the current phase. It will power a significant portion of the Paroverse while also providing incentives and rewards to Parody Coin DAO members and liquidity providers.
The deflationary utility token, Parody Coin, is developed on the Binance Smart Chain. As a deflationary token, the quantity of coins in circulation does not rise with time but rather decreases. Here is something interesting; a portion of the fees paid by users is routed to burn wallet, where it is destroyed rather than brought back into circulation. Parody Coin’s users have access to three important utility features: Parody Swap, the Parody Bridge and the Parody NFT marketplace.
The services and goods that surround Parody Coin (PARO) are sufficient to provide it with the impetus it needs to expand its empire. The Paroverse is also a multi-chain system that allows for speedy funding and great liquidity on the Parody Coin Swap or DEX bridge.
Parody Coin seeks to both promote freedom of speech and provide financial protection for those who use their right to freely express themselves on social media platforms. The ideologies behind this currency are the reason for its massive adoption and that increases its potential of being the best cryptocurrency to invest in 2022. Waste no more time, explore now!
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