Can Blockonnect Replicate the Successes of Crypto Big Players Like Cardano (ADA) and Stellar (XLM)?

The crypto space has seen the debut of several successful crypto projects, with the likes of Cardano (ADA) and Stellar (XLM) making their way to the top of the list. However, a new blockchain project, Blockonnect, is set to launch with great potential.

Currently, there is a wave of optimism surrounding the project as it begins its presale. However, what is Blockonnect’s chance of replicating the successes of crypto veterans like Cardano (ADA) and Stellar (XLM)? Here’s what we know.

Cardano (ADA)

Cardano (ADA) is an open-source, decentralized blockchain platform that was created using evidence-based development and peer-reviewed research. It is one of several crypto projects whose utility extends beyond just an asset that can be traded for profit.

Cardano was essentially created to be a more effective substitute for proof-of-work networks like Bitcoin or Ethereum Blockchain. It also has greater interoperability and scalability potential, in addition to being faster, less expensive, and more sustainable than PoW blockchains.

Developers can build smart contracts on the Cardano blockchain and, in turn, create decentralized applications and protocols. Additionally, there are several uses for the network’s instantaneous, inexpensive sending and receiving of payments in the corporate and financial sectors.

However, the network relies on the support of its native coin, ADA. The cryptocurrency attracted traders’ and investors’ attention throughout 2021. Also, it is largely rebounding from the effects of the bear market 2022 and is currently ranked among the top 10 largest cryptocurrencies by market cap. It has succeeded in developing a strong community over time.

Stellar (XLM)

Stellar (XLM) is a distributed ledger built on the blockchain that aims to connect global financial institutions and individuals. It is a distributed, open-source, and community-owned network for fast payments.

Stellar (XLM) aims to expand financial inclusion by developing readily available, inexpensive, and simple-to-use international payment systems. One of its advantages is that it works with all types of currencies. You can send a digital representation of the US dollar, the euro, cryptocurrencies, or any other currency on earth through the Stellar network.

However, the payment network does not favor any specific national currency. Instead, it has its own native currency, Stellar Lumens (XLM), which supports activities on the network. Investors believe that the XLM token is the future and are maintaining positive sentiments.

Blockonnect

Blockonnect is a cryptocurrency project in development that aims to give customers more control over their money, identification, and records. It aims to empower its customers to conduct safe and stable transactions through its decentralized network.

The platform is working on pioneering a new approach to decentralized record retention and asset management. Its virtual asset management systems will enable users to manage and consolidate all of their assets in one place. It will provide a digital wallet and an NFT marketplace where users can buy and sell digital tokens in an easy-to-use environment.

The Blockonnect token will power the platform. Users can stake Blockonnect tokens to earn rewards and secure the community. The platform will also commit to a 5% token burn mechanism to stabilize prices and provide buyers with steady value.

Conclusion

Cardano (ADA) and Stellar (XLM) have made a name for themselves in the crypto space, and from the look of things, Blockonnect has what it takes to take its position next to the crypto veterans.

The token is currently in its presale stage and will potentially surge when launched. Users will also benefit from the numerous features the platform is set to offer.

Website: https://block.blockonnect.io/login

Telegram: https://t.me/BlockonnectOfficial