China is all over the news, and that’s because crypto activity has returned to the region. Crypto expert Lawrence Mike Woriji is focusing on some coins that he believes have good potential, currently under $1. The expert shares 4 Chinese Coins that he says have this potential.
Top Chinese Coin: Iris Network (IRIS)
The Enhancers built the Iris Network (IRIS) on top of the Cosmos SDK. Iris is a Layer-1 PoS Blockchain. Interestingly, some developers from Tendermint developed Iris Network.
Source: Iris NetworkLike Cosmos, IRIS Network plans to become the “internet of blockchains”. Similar to Cosmos Hub, IRIS serves as a hub to which other IBC applications can connect. This means users can move assets and data between various networks connected to IRIS without any issues. The IRIS network also performs the same functions as the Cosmos Hub. It serves as a backup Inter-Blockchain Communications (IBC) router to facilitate cross-chain transactions in the event of a continental network split. The IRIS token powers the entire network. Holders use the token to:
- Staking:Users stake IRIS token to secure PoS Blockchain.
- Processing fee:Users use the IRIS token to pay for all transactions on the network.
- Service Fee:Service providers have to charge fees in IRIS tokens.
There are many reasons why this token has any chance of success. For one, it already has the reputation of being the Cosmos of China. This makes it unique. In addition, IRIS has formed alliances with a number of prestigious Chinese business and academic institutions, including the China Blockchain Service Network, which has previously been described as crucial to the success of any blockchain initiative in China.
Also, IRIS Network has a partnership with Chinese artificial intelligence company Bianjie AI. The collaboration aims to advance Blockchain innovation and explore new applications for the IRIS Network. IRIS Network has a different focus and vision for ATOM. IRIS focuses more on the commercial adoption of Blockchain technology in China. Also, IRIS is likely to get some attention while the Chinese coin narrative is still popular. As of now, IRIS is trading at $0.023861.
Nervos Network (CKB) comes in second place
Nervos Network is an open source public blockchain platform. The aim of the project is to create a peer-to-peer (P2P) economy that allows users to access different secure Blockchain services. Nervous Network addresses one of the biggest problems in the Blockchain market, the lack of interoperability.
There are countless networks out there, each with its own unique domain. Unfortunately, these networks cannot share data efficiently. For this reason, developers often spend time building functions that already exist on other platforms. However, Nervos Network supports developers to build decentralized applications on different Blockchain platforms. The Common Knowledge base, or base layer, has its own native cryptocurrency known as CKByte (CKB). The token powers the Nervos ecosystem. It also uses the Proof-of-Work (PoW) consensus mechanism. Holders use CKB for:
- Compensating miners to ensure network security.
- Checking network resources.
- Storing value on the network.
At the time of writing, CKB was trading at $0.00325. But it has the potential to grow big as more developers use its services.
Third Chinese Coin: Shentu Chain (CTK)
Shentu Chain is a fascinating Blockchain ecosystem with good foundations. Some experts say that CTK would be a good investment because of its uses. Here are the key uses:
- Security Oracle.
- ShentuShield.
- DeepSEA.
- Shentu Virtual Machine (SVM).
Have you checked out the latest Medium article on Oracle 1.5? It's a game-changer! 🤯 Dive into the new features, improvements, and what it means for our #ShentuChain ecosystem. Don't miss out! 🌐🔒 Read it here:https://t.co/tOKy72Wbo6
— Shentu Chain (@ShentuChain) May 4, 2023
All these services come together to form a unique Blockchain platform. This Blockchain platform meets the needs in industries such as NFTs and DeFi. It can also be used for innovative products such as autonomous vehicles. If you’re looking for a project with a technological foundation, CTK is one of your best bets. Shentu Chain is a good investment as it integrates various products into an effective platform that can significantly increase the efficiency of the use of digital assets.
At the time of writing, CTK was trading at $0.708191.
Last ranked Chinese Coin dForce Network (DF)
DF is the utility token of the dForce network. dForce Network is an integrated and interoperable DeFi platform. dForce is a set of DeFi protocols that provide services such as lending and trading. dForce Network is available on Ethereum, Arbitrum, Optimism, BSC, Polygon, Avalanche and KAVA. Holders use the DF token for the following roles on the network:
- Transaction services.
- Community governance.
- System balancer.
- Incentive.
- Verifier deposits.
The dForce network has great potential despite trading at $0.04218. Meanwhile, some top investors such as CMBI (China Merchants Bank International), Multichain Capital, and Huobi Capital support dForce.
The opinions and recommendations in the article belong to the experts and are definitely not investment advice. cryptocoin.comWe strongly recommend that you do your own research before investing.
