Place/Date: - March 13th, 2023 at 9:00 pm UTC · 4 min read
Within the blockchain space, there are countless blockchain projects available. With over 22,000 cryptocurrencies to pick from, it can be difficult for many traders or investors to differentiate good projects from bad ones.
However, by knowing what to look for, anyone can find a hidden gem they are looking for
With the decline in the value of Litecoin (LTC), and Bitcoin Cash (BCH), many investors are on the lookout for alternative projects that bring something new and fresh to the big picture, and HedgeUp (HDUP) is one such project.
Today, we will be jumping into each cryptocurrency to see why some have been declining in value while projects like HedgeUp are shining.
Litecoin (LTC) as a cryptocurrency was originally created in 2021 as a means of providing quick, secure, and low-cost payment through leveraging the unique properties associated with blockchain technology.
However, it was created based on the Bitcoin (BTC) protocol. By today’s standard, the blockchain is slow in some regards. It uses the power-intensive Proof-of-Work (PoW) consensus mechanism, one which a lot of projects are moving away from.
Additionally, the project has not seen as much development as competing projects, and its ecosystem has not grown tremendously. All of these aspects have led to its recent decline in value.
Bitcoin Cash (BCH) is an alternative to one of the largest cryptocurrencies, Bitcoin (BTC), and aims to innovate from that project by enabling a network that is quicker and cheaper.
It was created in 2017 through a modified BTC code, and it saw changes in the block size with the goal of enabling more transactions to get processed at the time. However, it still relies on the slow Proof-of-Stake (PoS) consensus mechanism, and it is not eco-friendly. Additionally, it has not seen too much development or significant ecosystem growth either.
HedgeUp (HDUP)’s presale has seen a high level of success and has been shining, mainly due to the fact that the project aims to change the industry in a significant way.
Traditionally, anyone who wanted to invest in alternative assets, such as fine art, luxury watches, gold, fine wine, and others, needed to do so with a large upfront lump sum of money.
However, this meant that the asset classes mentioned above were exclusive to high-net-worth individuals or corporations.
However, HedgeUp switches things up by creating an alternative asset marketplace, where through non-fungible tokens (NFTs) and asset fractionalization, users can stake as little as $1 of HDUP and gain access to all of these assets.
Instead of buying the entire underlying asset upfront, investors can just buy a small percentage of the asset in question based on how much funds they have available to them.
HDUP is the native cryptocurrency behind the project and lets users gain access to staking functionality and rewards, NFT releases, and will evolve alongside the ecosystem.
This innovative approach to investing has led many people to gain interest in the project.
There will always be a high level of competition within the blockchain space, and projects such as Bitcoin Cash (BCH) need to evolve, expand, and see numerous updates and developments in order to shine in the future.
However, for the time being, HedgeUp (HDUP) is the competition in question, where it fundamentally changed an industry by leveraging blockchain technology and opened the doors for investing to a lot more people who would otherwise not have access to alternative asset classes.
Disclaimer: Coinspeaker is not responsible for the trustworthiness, quality, accuracy of any materials on this page. We recommend you conduct research on your own before taking any decisions related to the products/companies presented in this article. Coinspeaker is not liable for any loss that can be caused due to your use of any services or goods presented in the press release.