Nigeria

Get Crypto While it’s Still Hot: Logarithmic Finance (LOG), Avalanche (AVAX) and Solana (SOL)

Monday, April 04, 2022 at 10:46 AM by Adunni Amodeni 3 min read

With the market flourishing as we begin the week, cryptocurrency is gaining some of its old sparks back.

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With Bitcoin (BTC) and Ethereum (ETH) leading the way with both cryptos up 6.04% and 12.70% in the past seven days, respectively, the likes of Solana (SOL), Avalanche (AVAX) and Logarithmic Finance (LOG) trend upwards with the latter set to enter its presale this year.

Logarithmic Finance (LOG)

Striving to become the “next-generation decentralised finance and

swapping protocol that would allow seamless connectivity and interaction between early-stage blockchain innovators and investors”, Logarithmic Finance (LOG) has set its sails on solving the interoperability issue in cryptocurrency.

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With plans to integrate Ethereum with the likes of Solana (SOL), Polygon (MATIC), Binance Smart Chain (BSC), Avalanche (AVAX) and Tezos (XTZ), Logarithmic Finance (LOG) has seen the rise of the DeFi market and how it's continually grown over the last few years.

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Despite the power and influence that Ethereum possesses in the cryptocurrency industry, its increasing transaction fees and lack of scalability mean many DeFi projects look to seek alternative ecosystems like Solana and Cardano and that’s the space LOG is targeting.

As a fully decentralised layer-3 swapping protocol, Logarithmic Finance houses its governance and utility ERC-20 LOG token that will be used for a variety of reasons including incentivising the LOG community and for the development of the ecosystem.

The LOG team will also reserve a portion of LOG tokens and allocate them among future initiatives, community support, marketing, exchanges fees and long-term liquidity.

Solana (SOL)

A blockchain platform designed to deploy decentralised scalable applications, Solana (SOL) is a real competitor to Ethereum due to its capacity to process many more transactions than Ethereum and at a lower cost for the user.

Solana’s use of both a proof-of-stake (PoS) and a proof of history (PoH) protocol means that transactions on its blockchain are timestamped and verified rapidly, compared to Ethereum’s proof-of-work (PoW) blockchain were to validate transactions, miners must solve complex puzzles in a process that consumes mass amounts of energy.

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Processing as many as 50,000 transactions per second (TPS), Solana blew up in 2021, becoming one of the fastest-growing cryptocurrencies during the year.

Up 14.7% in the past seven days, Solana (SOL) trades at $90.07, at this time of writing.

Solana’s all-time high came in November 2021 when they hit a figure of $259.96 and as of March 2022, the platform ranks as the ninth biggest cryptocurrency in the world, according to CoinMarketCap.

Avalanche (AVAX)

A fellow Ethereum competitor, Avalanche (AVAX) is a cryptocurrency and blockchain platform that uses smart contracts to support various blockchain projects.

Providing near-instant transaction finality, Avalanche’s native AVAX token is used to pay transaction processing fees as well as to secure the network.

The network, like Solana, prioritises scalability and transaction processing speed with Avalanche reportedly able to process 4,500 transactions per second.

Up 26.2% in the past 14 days, Avalanche is experiencing a positive period over the past month as AVAX trades at $91.61, at this time of writing.