Chainlink (LINK) and Filecoin are two of the most sought-after cryptocurrencies in the market. Filecoin is based on the decentralized file storage protocol IPFS (InterPlanetary File Storage) and provides an incentive mechanism for users to store data for others. On March 14, the Filecoin team will launch the Filecoin virtual machine (FVM) with the Filecoin v18 Hygge update. This update will introduce smart contract functionality to the Filecoin network, allowing developers to create applications that will expand its usefulness.
Polygon (MATIC) is a proof-of-stake blockchain platform that is compatible with Ethereum. It has become one of the most popular alternatives to Ethereum after Ethereum began to suffer from high transaction fees. Polygon's native asset is called MATIC and is used for key operations on the network, such as betting and paying transaction fees. Polygon is one of the first Ethereum scaling platforms to achieve significant adoption, helping the team launch a series of initiatives to further accelerate growth.
Polygon developers can create any type of decentralized application that would also be possible to create on Ethereum, and they can also benefit from the set of development tools that are available to Ethereum developers. This has made Polygon a very popular choice for projects that want to build within the Ethereum framework, but that require improved scalability. PancakeSwap (CAKE) is a decentralized finance (DeFi) project on the BNB Chain blockchain platform. The project's most notable product is an automated market maker (AMM) that facilitates the exchange of tokens directly on the BNB Chain blockchain. PancakeSwap implements the CAKE token, which has a number of uses on the platform.
CAKE holders can bet their chips on Syrup Pools to win chips, use them in agricultural production to earn additional CAKE tokens, use them to mint NFTs and much more. Bitcoin was the first cryptocurrency to introduce blockchain technology and provides a fully decentralized digital currency that is extremely secure. It implements Proof-of-Work to make it difficult to modify transaction history or double spend coins. The network is protected by miners, who are rewarded with BTC coins for adding blocks to the Bitcoin blockchain. Even though countless cryptocurrencies and blockchain platforms have been launched after Bitcoin, BTC is still easily the largest cryptocurrency by market cap.
Bitcoin is the centerpiece of the cryptocurrency market, and this is unlikely to change anytime soon. Ethereum was one of the first use cases enabled by blockchain technology that gained a lot of ground was the possibility of issuing custom tokens that could be traded through the Ethereum blockchain. This feature was used by many projects to raise funds through initial coin offerings (ICOs) and other types of token sales. The token is also used as a native asset of the BNB Chain blockchain. BNB Chain is a variant of Ethereum that offers significantly lower transaction fees to users and allows developers to easily implement decentralized applications compatible with EVM.