Cosmos and Monero competitor sets sight on gains
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Solana and Filecoin recently announced a collaboration to devise blockchain storage solutions. With the Filecoin integration, third-party dapps would be able to access Solana’s block history.
According to blockchain experts, the move would help Solana in improving the redundancy and scalability of its data sets. The collaboration could pave the way for new ideas in the developer community.
The potential of the integration has shifted the crypto community’s attention from investing in spot Bitcoin ETFs back to the altcoin sector. Thus far, interest in altcoins is rising with the InQubeta (QUBE) presale crossing $10.4 million.
The platform was unveiled last year and helps AI startups find investors. Its model is powered by Ethereum and it screens startups carefully to check how well they are aligned against InQubeta’s vision. As InQubeta makes rapid strides, it’s also giving tough competition to older altcoins like Cosmos (ATOM) and Monero (XMR).
InQubeta and AI startups
InQubeta opens a world of opportunities for AI startups. With its services, InQubeta helps innovators build a scalable economic model for their projects using guidance from veterans in the AI industry and experienced professionals.
The platform has created a native coin, the QUBE token, exclusively for its ecosystem. Apart from being used for transactions, the cryptocurrency also facilitates governance of the platform.
A year into its launch, there are hardly any new altcoins that have matched InQubeta’s success. Analysts attribute the consistency of its performance to the QUBE token’s deflationary model.
Most asset categories are not immune to the ups and downs of the market. In InQubeta’s case, the deflationary model keeps the asset safe from inflation and volatility by restricting its supply. As buyers find it hard to acquire the token, its value rises even when the markets are tanking.
In the upcoming months, the InQubeta team will be unveiling new initiatives to expand the platform’s user base. The first of such initiatives would be a staking dapp to popularize its service. Another project that the team is working on is to get the QUBE token listed on a centralized exchange.
Hackathon part of Monero‘s Prague event agenda
Monero is a privacy-centric crypto platform for making secure online transactions. The proof-of-work platform has created a special token for its transactions, XMR.
Its annual Monero Konfrenco being held in Prague in June brings innovators together on a common platform for discussions and insights about privacy-first technologies.
The platform will also organize a hackathon where developers have to build dApps using Monero’s code or features and they can bag exciting crypto rewards for their efforts.
Cosmos Hub fork GovGen set for launch
With a network of interoperable blockchains, Cosmos enables developers to create dapps and scale them effortlessly. Its native token ATOM was among the best altcoins for 2023 and it is raking in further gains this year too. Cosmos is busy solving the issue of interoperability.
It’s powered by the Inter-Blockchain Communication (IBC) protocol which ensures nominal gas fees and a transaction rate as low as 500 milliseconds.
Cosmos has been in the news of late because of GovGen, a blockchain created for decentralized governance that is a fork of Cosmos Hub. According to reports, it has the potential to decentralize the operations of the AtomeOne network.
GovGen holders will be able to vote for proposals regarding tokenomics and chain parameters of AtomeOne.
Cosmos co-founder Jae Kwon recently said that it can catalyze the way governance tokens are used for blockchain development.
Conclusion
Given their potential for driving financial inclusion, InQubeta, Cosmos, and Monero are great options for investors. These cryptocurrencies can offer multiple ways of earning passive income like staking and incentivized participation.
These platforms are also democratizing DeFi for different user groups. While Cosmos and Monero traditionally cater to developers and crypto users respectively, InQubeta empowers AI startups.
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