Can Collateral Network (COLT) take on VeChain (VET) and Chiliz (CHZ)

Collateral Network (COLT) is a new cryptocurrency that is currently in phase 1 of its presale and the token price stands at only $0.01. With momentum building, it is sure to be a success. But is Collateral Network (COLT) really capable of taking on existing projects, such as VeChain (VET) and Chiliz (CHZ)? That’s what we shall be exploring in this article.

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VeChain (VET)

VeChain (VET) is an innovative blockchain-as-a-service platform that focuses on enterprise solutions. The VeChain (VET) platform is specifically designed to help businesses increase efficiency and reduce the cost of operations through the use of blockchain technology.

VeChain (VET) offers a wide range of features, such as secure asset tracking and management, verification, supply chain auditing, smart contract execution and more. VeChain (VET) also has a unique “Proof of Authority” consensus algorithm that offers even better security and scalability.

VeChain (VET) also has its own native token, VTHO. VTHO is used to pay for the various services on the VeChain (VET) platform, such as smart contract execution fees, tracking and auditing costs, etc.

VeChain (VET) has become somewhat of an authority in the enterprise blockchain space, and it is currently being used by many large companies, such as BMW and PwC. However, adoption needs to increase further if VeChain (VET) is to move higher up the ranks.

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Chiliz (CHZ)

No projects have tackled the sports industry like Chiliz (CHZ). The Chiliz (CHZ) team has a specific goal to revolutionize the sports industry through the use of blockchain technology.

Chiliz (CHZ) is used to purchase Fan Tokens, which are exclusive digital assets representing individual teams. These tokens can then be used to participate in various activities on the Chiliz (CHZ) platform, such as voting in polls or participating in competitions.

The Chiliz (CHZ) platform also has a rewards program for CHZ holders, which allows them to earn CHZ tokens simply by participating and engaging within the platform. This helps to further incentivize fan engagement on the Chiliz (CHZ) platform.

But while Chiliz (CHZ) got off to a great start, Chiliz (CHZ) is now down by more than 87% since hitting $0.8915 in March 2021. The likes of Collateral Network (COLT) could overtake Chiliz (CHZ) if the current downward trend continues.

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Collateral Network (COLT)

Collateral Network (COLT) is a lending platform with a difference — it uses blockchain technology to provide secure loans to individuals, with collateral in the form of tokenized assets (NFTs).

Collateral Network (COLT) is designed to make securing loans simpler and more affordable, for both lenders and borrowers. The collateralized loan system is secured by an immutable distributed ledger, providing full transparency and security.

Here’s an example — Mark needs to build a new kitchen but only has a $10,000 watch to use as collateral. Under the Collateral Network (COLT) system, Mark can have his watch minted as an NFT and use it as collateral for the loan.

The use of NFTs on Collateral Network (COLT) opens the door for fractional lending, where multiple lenders can all get a piece of the collateralized loan. This allows for more liquidity, better risk management and a wider range of potential borrowers.

By holding the COLT token in the Collateral Network (COLT) wallet, individuals are able to receive specialized perks, such as lower loan interest rates, staking rewards, reduced trading fees and other potential advantages as the platform grows and evolves.

Collateral Network (COLT) is just entering phase 1 of the public presale, with prices starting at just $0.01 per COLT token —  an attractive entry point for those interested in diversifying their portfolios. The new token on the market also has a forecasted 3500% gain within the next 6 months, sure to be to the delight of potential investors.

Find out more about the Collateral Network presale here:
Website: https://www.collateralnetwork.io/
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk

 

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