Understanding Blockchains
The MyBank blockchain depends on the supply, which is basically coins that are put into circulation. It’s an improved version of classic mining. Classic mining is the search for a solution to computer puzzles in order to discover a new block that’s going to be added to the blockchain, for that the miner is rewarded with several bitcoins, some hardware give higher rewards, some application chips and similar can achieve more rewards.
Other assets that are similar to the MyBank Polkadot ecosystem are:
1. Ethereum (ETH)
Ethereum is a software platform that allows you to build and run decentralized applications (dapps) without any downtime. The purpose of Ethereum is to create financial products that anyone can access.
Applications run on the ether, a platform-specific cryptographic token. Ether is the basis for the Ethereum platform, it is most often requested by developers who want to make applications on the platform or investors who want to buy another cryptocurrency through Ether. Ether was launched in 2015.
2. Litecoin (LTC)
Launched in 2011, Litecoin is one of the first cryptocurrencies to follow in the footsteps of bitcoin. proof of work that can be decoded with consumer processors, Litecoin is increasingly accepted.
3. Cardano (ADA)
Cardano is a cryptocurrency founded by Charles Hodgkinson, also known as the Ethereum killer, because his blockchain is thought to be capable of more, but still in its infancy, aims to become the world’s financial operating system.
4. Polkadot (DOT)
Polkadot is a unique cryptocurrency that is aimed at delivering interoperability among other blockchains. Its is designed to connect permissioned and permission-less blockchains, as well as oracles, to allow systems to work together. Polkadot was created by Gavin Wood, another member of the core founders of the
5. Bitcoin Cash (BCH)
Bitcoin Cash (BCH) holds an important place in the history of altcoins because it is one of the earliest and most successful hard forks of the original Bitcoin. Bitcoin cash is the most successful fork of the original bitcoins, it began in 2017 as a result of a debate. BCH has increased block size from 1 to 8 MBs.
6. Stellar (XLM)
Stellar is a blockchain network that provides enterprise solutions by connecting financial institutions for large transactions, it completes transactions without intermediaries and much faster
The system allows for cross-border transactions among any currencies. Stellar’ s currency is Lumens (XLM). The network requires users to hold Lumens to be able to transact on the network.
Stellar was founded by Jed McCaleb.
7. Chainlink
Chainlink is a decentralized network that bridges the gap between smart contracts and data outside of it. Blockchains themselves do not have the ability to connect to outside applications in a trusted manner. Chainlink was developed by Sergey Nazarov along with Steve Ellis.
8. Binance Coin (BNB)
Binance Coin is a cryptocurrency that operates as a payment method for fees associated with the Binance Exchange. Those who use the token as a payment for the exchange can trade at a discount.
9. Tether (USDT)
Tether is one of the first and most popular of a group called stablecoins, cryptocurrencies that aim to peg their market value to a currency or other external reference point to reduce volatility.
10. Monero (XMR)
Monero is a secure, private, and untraceable .It was launched in April 2014 and soon got a lot of interest among the cryptography community . The development of this cryptocurrency is completely donation-based. Monero enables complete privacy by using a technique called “ring signatures.”
MyBank on the other hand provides support for fully decentralized leveraged lending and margin trading and allows leverage multiples to be more than doubled.
