THESE CRYPTOCURRENCIES ARE THE FUTURE OF THE GLOBAL FINANCIAL INDUSTRY- EOS (EOS), HYPASWAP (HYPA), AND KAVA (KAVA)
HypaSwap opening the door to convenient and easy access to funding worldwide
Cryptos have become one of the world’s most valuable digital assets and their relevance continues to expand significantly. Worldwide economies are moving into the age of digitized financial transactions and economic activity.
However, some financial institutions are skeptical about adopting this digitization rather they are keen on sticking to the traditional means of banking because they believe the Crypto space comes with more risks than benefits.
These traditional banking systems had a centralized authority that interfered with every aspect of financial transactions from loan transactions, to prices of stock assets and this monopoly of power resulted in a lot of corrupt practices.
Now, the reverse is the case, Crypto assets are the best alternative to traditional methods of banking as these digital assets provide decentralized authority to their users.
Let’s look at some of the coins that are the future of financial transactions; EOS (EOS), Hypa Swap (HYPA), AND Kava (KAVA)
EOS aims at building a decentralized blockchain with quicker and free-of-charge financial transactions and also supports smart contracts.
EOS is built to handle thousands of transactions per second which is a huge gap for Ethereum to cover with a processing speed of 15 transactions per second.
The EOS ecosystem seeks to function as an operating system and provides services like cloud storage, user authentication, and server hosting. The native token EOS is a utility token and it is used to access the EOS blockchain, the EOS ecosystem provides scalability, solves gas issues, and free access for everyone.
HypaSwap is a DeFi platform that is a decentralized non-custodial liquidity pool that allows lenders and borrowers to exchange assets through a liquidity pool.
This is how this works, the lenders lend their assets to the HypaSwap and this gives them interest on their locked assets, whereas the borrowers borrow the assets in the liquidity pool in exchange for certain collateral.
HypaSwap is primarily focused on lending and borrowing assets and as such, it has a secure and risk-free system where capital and loans are kept safe from fraud. The borrowers pay back their loans with interest while the lenders get paid with interest.
There is also a provision for users to engage in other activities like staking and swapping collateral and there are rewards given to encourage active members of the community to stake more tokens and get larger returns on their investment.
The HypaSwap platform is governed by its user community and its primary token HYPA is the native coin for carrying out important activities in the ecosystem like staking incentives, penalties, and interest rates.
HypaSwap’s major goal is to bring a strategic solution to tackle the risks that come with compound and other competitors.
Kava is a protocol that makes use of multiple cryptocurrencies to enable users to borrow and lend assets without the interference of a centralized authority or a traditional financial middleman.
The platform was created with the sole aim of providing access to reliable, secure, and speedy financial services worldwide. It is referred to as the “decentralized bank” of crypto-related assets.
The Kava ecosystem’s native currency KAVA rewards Kava tokens when users mint USDX tokens on the KAVA app. Users have rewarded Kava coins when they engage in staking.
KAVA is run on Cosmos instead of Ethereum which is the basic platform for most DeFi projects but it still combines both Ethereum and Cosmos into a single network. Kava allows its users to keep their assets in special smart contracts and borrow USDX.