Most projects which are based on top of blockchain technology will typically come with their own native cryptocurrency.
Each project will also assign a specific use case, or in other words, some sort of utility for the cryptocurrency in order to make it useful and desirable across the ecosystem.
Today, we are going to take a look at three projects and see how their tokens, as well as how the projects as a whole, are utilized. These projects are: BudBlockz, Hedera, and Algorand.
What Is Budblockz and How Does It Work?
BudBlockz is the world’s first online, decentralized eCommerce platform specifically tailored to those that are interested in cannabis, and it enables anyone accesses to the global cannabis markets in a secure, private and decentralized way.
BudBlockz has its own native cryptocurrency BLUNT. The BLUNT token is used as a medium of exchange between individuals as well as cannabis corporations.
This means that BLUNT can be used to transact with Dispensaries, Farms, CBD manufacturers, and more. Additionally, BudBlockz has the additional utility and functionality of serving the role of the governance token, which means that BLUNT governs the community to enhance fair as well as transparent trading for everyone.
In the future, BLUNT will also be a cryptocurrency that can be staked, allowing customers to be rewarded for holding their tokens and contributing to the long-term vision of BudBlockz.
What Is Hedera and How Does It Work?
Hedera is essentially a network that allows anyone to transact and deploy applications. However, a group of businesses is responsible for overseeing the overall network. The network stands out due to the fact that it has a fast network throughput for its native cryptocurrency, known as HBAR, but only lets approved nodes participate in the process of verifying the transaction history.
Its governance is allocated to the Hedera Governing Council, which runs the consensus nodes. It also implements its distributed open ledger on hashgraph technology instead of blockchains.
As such, HBAR is used for the payment of transaction fees, to make micropayments, and to protect the network through its Proof-of-Stake (PoS) consensus mechanism.
What Is Algorand and How Does It Work?
Algorand is a blockchain platform that is designed to function as a payment processor. It utilizes a unique consensus mechanism known as Pure-Proof-of-Stake (PPoS).
ALGO is the native cryptocurrency for this specific blockchain, and it is utilized as a means of securing the platform as well as rewarding those governing the entire ecosystem. Its supply is capped, where the Algorand Foundation, the non-profit overseeing and funding its development, claims that only 10 billion units will ever get created.
On Algorand, developers can create new kinds of applications that are powered by cryptocurrency, and the network has been historically used in real estate, microfinance, and similar use cases.
Picking the Project and Token with The Best Use Case
All of these projects fill unique, distinctive roles within the crypto ecosystem.
Each cryptocurrency that powers each of the three platforms ultimately serves a unique role within them and all of them feature a solid level of utility that will spark demand within each one of them.
Some projects have been around for quite a while, such as Heder and Algorand, so we have some perspective surrounding their use, but newcomers such as BudBlockz have the potential to overtake the crypto space and surprise users with its use case.
Learn more about BudBlockz (BLUNT) at the links below:
Official Website: budblockz.io/
Presale Registration:: https://app.budblockz.io/sign-up
Telegram Group: https://t.me/BudBlockz
Discord Server: https://discord.gg/s7hBFgvTmN
All BudBlockz Links: https://linktr.ee/budblockz
