Can Persystic (PSYS) Compete With Crypto Giants Like Polygon (MATIC) and Cosmos (ATOM)?

The rapid growth of technology in recent years has made it clear that our world today has almost become entirely digital. Among these technologies, the most captivating for most people is cryptocurrency. It was introduced to the public in 2009 by “Satoshi Nakamoto” who invented the first cryptocurrency – Bitcoin. Since then, thousands of other cryptocurrencies have appeared.

However, many people still used to the conventional payment system are not yet ready to adapt to this new ecosystem. Moreover, the volatility of the crypto market is another big issue. This highly fluctuating market makes crypto investment a big concern for most people. The recent crash in 2022 is an example of this volatility.

The Crypto Market Newcomer Persystic (PSYS)

Social media platforms like Facebook, Instagram, and Twitter have shifted from being just entertainment venues to becoming an integral part of people’s everyday lives. However, there are still many problems associated with social media, such as freedom of speech, privacy concerns, security, and government censorship.

Persystic (PSYS) intends to address these issues by utilising a model based on blockchain technology. Persystic is a tokenized mixed social media network that will allow users to communicate and form democratic communities with the right to freely express themselves. Furthermore, Persystic introduces a model reinforced by blockchain, which will allow users to share and monetize content in a verifiable, secure, and transparent way.

Persystic aims to change the conventional centralised and monopolistic social network ecosystem by developing a decentralised social network that is encrypted at rest. The token used as the primary unit of account on the Persystic network and facilitates transactions on the platform is known as PSYS, which is a native BSC-compatible BEP-20 token.

The Key Features Of Polygon (MATIC)

Even though Ethereum is only second to Bitcoin in terms of popularity in the crypto market, it is still lacking in scalability. Polygon (MATIC) is a protocol developed to address these scalability issues in Ethereum. This challenge is addressed by handling transactions in a separate Ethereum-compatible blockchain and returning them to the main Ethereum blockchain after processing.

This allows transactions to speed up and lowers the cost of each transaction to less than a cent. Network congestion is another notable issue in the Ethereum blockchain, which causes gas fees to ramp up. Polygon makes use of side chains to solve this issue and enables up to 65,000 transactions per second. Compared to Ethereum’s transaction speed of 17, this number is a massive improvement. MATIC token is the Polygon network’s native cryptocurrency which can be staked on the Polygon blockchain allowing users to earn annually.

Cosmos (ATOM) – Aims and Achievements

The Cosmos blockchain is another blockchain that has been designed to improve ecosystem interoperability. It was created to make the interaction between distributed ledgers easier without relying on a centralised server. In the Cosmos white paper published in 2016, its founders referred to the network as the internet of blockchains. Cosmos is the first completely free platform that can enable interoperability between systems like Binance Chain, Terra, or Crypto.org.

The interoperability functionality has been implemented in the network by using hubs, the Tendermint consensus algorithm, and the inter-blockchain communication (IBC) protocol. As opposed to using methods like smart contracts or wrapped tokens to communicate, Cosmos offers open-source tools for developers to create decentralized blockchain applications called zones. These zones are Cosmos smart contracts.

Final Thoughts

Cryptocurrency is undeniably the future of our digital world, with so many different options to choose from nowadays. Polygon network has been developed to address scalability issues in Ethereum. Furthermore, the Cosmos network has been created to bring interoperability to the blockchain ecosystem.

Persystic is a new decentralized social network created to overcome many limitations held by the conventional social network systems available currently. In addition, bonuses have also been included to gather an even bigger community of investors and developers. People buying Persystic tokens using either ETH or BTC will receive 9% more tokens as a bonus. Moreover, referring a friend will also grant a bonus amount to both the investor and that friend. In the case of Persystic, spending $50 will allow the investor and his friend to receive a $25 bonus amount each.

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