Place/Date: – December 14th, 2022 at 5:27 am UTC · 3 min read
Source: Snowfall Protocol
Snowfall Protocol (SNW) has created a brand for itself in the short time of its existence. It has brought excitement to investors who like the utility it offers. On the other hand, established crypto like Bitcoin Cash (BCH) and Litecoin (LTC) offer a derivative cryptocurrency at best. They may have their advantages, but they are not enough to match the innovation of new cryptos like Snowfall Protocol (SNW).
Snowfall Protocol (SNW)
Snowfall Protocol (SNW) is a blockchain interoperability project that will create a crypto highway making it easier for investors to move their assets and holdings from one blockchain to the next. Snowfall Protocol (SNW) is solving an everyday problem for crypto users. Not to mention, it has already unveiled the prototype dApp that can be built on the blockchain. It offers a great utility besides offering staking and yielding opportunities. It also offers a scalable model with incredible potential.
The presale held for Snowfall Protocol (SNW) was a huge success. Its stage 2 concluded a day earlier than planned because the entire Snowfall Protocol (SNW) tokens were sold out. Compared to stage 2, Snowfall Protocol (SNW) has already surged 250% in price at the start of stage 3. With its launch slated on January 3, 2023, Snowfall Protocol (SNW) is all set to make new records.
Bitcoin Cash (BCH)
Known as the “hard fork” of the Bitcoin blockchain, Bitcoin Cash (BCH) was developed by Bitcoin miners and developers. Bitcoin Cash (BCH) is a derivative of the Bitcoin blockchain that processes transactions with lower fees and higher scalability. However, Bitcoin Cash (BCH) has not been able to generate the same euphoria as Bitcoin. Bitcoin Cash (BCH) is also considered weaker in security than Bitcoin and not very environmentally friendly.
The trouble with Bitcoin Cash (BCH) is that it does not offer any use case that distinguishes it from other cryptocurrencies in the market. In fact, its name, “Bitcoin Cash,” constantly pits it in competition with Bitcoin, which doesn’t serve it well either. So, it is hard to get investors excited about such a derivative crypto like Bitcoin Cash (BCH).
Like Bitcoin Cash, many investors view Litecoin (LTC) same as Bitcoin. Moreover, factors that distinguish Litecoin (LTC) from Bitcoin (BTC) are slowly fading away. Litecoin (LTC) debuted in the crypto-verse as an improvement over Bitcoin. However, it is losing its edge. For e.g., Bitcoin also uses the SegWit protocol now, the same as Litecoin. Moreover, more than 40% of Litecoin (LTC) is controlled by a few parties, which is highly demotivating for smaller investors.
Over time, Litecoin (LTC) has also lost a lot of its credibility due to major sell-offs, the shutting down of services like LitePay, and more. Not to mention, Litecoin (LTC) often finds its name associated with the Dark Web. So, it became challenging for big investors to put their money in a blockchain that might be associated with illicit activities.
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