image 376 1The cryptocurrency industry has seen significant growth in recent times as investors are constantly searching for promising altcoins, which come with higher growth potential. Even though many altcoins exist in the market, there are two that are making the headlines- DigiToads and Chainlink. These altcoins come with unique propositions and features that make them two of the best altcoins.
DigiToads
DigiToads is a meme coin based on the Ethereum network. It is a unique project, which combines the fun features of meme coins with the functionality and utility that investors look for. DigiToads stand out from other meme coins because it comes with a wide range of features, including NFT staking. It makes DigiToads an attractive option for serious, as well as casual investors. DigiToads has made waves in the crypto industry by combining meme coins with NFT staking.
DigiToads’ real-world utility makes it stand out from other meme coins. By combining NFT staking with meme coins, the crypto creates a sustainable ecosystem, which benefits developers, as well as users. Users are given an incentive to collect and hold onto NFTS. This, in turn, facilitates the growth of the platform.
NFT Staking and Passive Income
Non-Fungible Tokens are unique digital assets, which represent anything from collectibles to artwork to in-game items. The assets are stored on the blockchain and can’t be exchanged for equal assets, unlike cryptos which are interchangeable. On the other hand, staking is the act of holding onto cryptos for earning rewards and supporting the network.
However, the benefits of NFT staking with DigiToads are more than just earning TOADS. Users, when they stake their NFTs, are also supporting the DigiToads ecosystem to ensure that it keeps running smoothly. It is particularly crucial for a platform that depends on the involvement of the community to thrive.
DigiToads NFT staking opens up new opportunities for collectors and gamers. By staking their in-game collectibles and items, DigiToads users can earn TOADS while keeping the NFTs with them. Thus, it creates a win-win situation for both developers and users since it encourages engagement, as well as retention while spawning more revenue for the platform.
Chainlink
Chainlink is a decentralized node network offering information and data from off-chain sources to blockchain smart contracts through oracles.
To escalate the security of the Oracle network of Chainlink, its developers plan for implementing a staking system just like the ones found in Proof-of-Stake blockchains. When staking was implemented, nodes had to lock up Chainlink tokens as collaterals that be slashed or taxed in case a node misreports data. The tokens hacked from dishonest validators are redistributed to honest validators.
The crypto-economic security of the network should improve when the staking system initiates a penalty for dishonest nodes. The expectation is that the cost of attacking price oracles of Chainlink will be greater than the possible profits an attack could have generated. Thus, the Oracle network can profit from the same game theory, which works to decentivize malicious actors from trying to attack blockchains.
Moreover, staking will promote community participation, too in the Chainlink network apart from the ones that are qualified or able to run their nodes. The staking model of Chainlink allows all to hold LINK to delegate their token to a trustworthy node worthy.
According to the estimation of Chainlink developers, LINK token staking is going to produce a 5% annual return from a combination of the fees paid by those who used Chailink’s data feeds and the emissions from the treasury reserve. The ultimate goal is for the treasury emissions to end once the use of Chainlink grows, leaving staking rewards to come from the fee Oracle users have paid.
The rise of these two cryptocurrencies is a testament to the innovative approach of the crypto industry.
Conclusion
DigiToads lets users stake their NFTs to earn DigiToads’ native tokens- TOADS. The more NFTS you stake, the higher your potential reward. It will create an incentive for you to collect and hold the NFTS instead of just buying and selling them for profit. With DigiToads presale raising more than $ 2.7 million, it is the perfect time to DigiToads lets users stake their NFTs to earn DigiToads’ native tokens- TOADS. The more NFTS you stake, the higher your potential reward. It will create an incentive for you to collect and buy this crypto and earn high returns on your investment.
For more information on DigiToads visit the website, join the presale or join the community for regular updates.
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