Elrond (EGLD), Monero (XMR): Things you need to know about these cryptos
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Loading... - Antonio Cruz
- 01 Jun 2022
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Cryptocurrencies are a rage these days. Tech-savvy investors are increasingly adopting these new-age digital currencies as an alternative investment option. Even Kiwi investors are charmed by these cryptos and are foraying into the crypto world.
As per reports, 64% of the Kiwi adults know what cryptocurrency is, which is much ahead of countries like the US and Russia, wherein only 59% and 60% of adults are aware of the nuances of cryptos.
A lot of crypto exchanges are there in New Zealand which facilitate the buying, selling and trading of cryptocurrencies. One of them is Easy Crypto, which offers trading in more than 100 cryptos at no hidden costs.
Elrond
Founded by Beniamin, Lucian Mincu and Lucian Todea, Elrond is a blockchain platform focusing on improved blockchain speed, scale, cost and user experience. Its in-house token is called Elrond eGold, i.e., EGLD.
It uses a SPoS, i.e., a secure Proof of Stake consensus mechanism, which is not only energy-efficient but also ensures long-term security and distributed fairness and also helps validators in staking eGold to secure the network and earn rewards.
The smart contract platform supports the most popular programming languages and flexible tools and boasts an easy-to-integrate blockchain with unmatched scalability, high speed, and low transaction cost.
Currently, EGLD is priced at US$84.02, up 18.96% over the last 24 hours. There are around 22 million EGLD coins in circulation, and its maximum supply is nearly 31.4 million coins.
Apart from Easy Crypto, Elrond is available on Binance, FTX, Bybit, Kucoin, Bitget, etc.
Monero
Another cryptocurrency that is gaining traction on Easy Crypto is Monero. Making its debut in 2014, Monero is an open-source, privacy-oriented crypto, ensuring transactions take place privately and with anonymity. Its native token is called XMR.
It focuses on preventing centralisation and achieving the greatest level of decentralisation possible. For this, the platform uses CryptoNight as its consensus mechanism, which is based on proof-of-work, thus obstructing large mining farms from becoming a dominant force.
Its network uses stealth addresses, which are one-time crypto addresses that are erased after each transaction.
However, in spite of having many legitimate use cases, Monero has limited mainstream adoption, as it is increasingly being used in cybercrime due to its privacy-focused features.
At the time of writing, XMR is priced at US$187.70, gaining by 9.76% over the previous day and presently has around 18 million XMR coins in circulation. Read More...
