The blockchain market continues to heat up. There are thousands of cryptocurrencies all vying for your attention. With all of this selection, making an informed decision can seem like a choir. Luckily, you don’t need to spend the next week digging through technical data. Both Orchid (OXT) and META 1 Coin are two projects that have blockchain enthusiasts excited. Here are the key details regarding Orchid vs META 1 Coin.
What is Orchid (OXT)?
Orchid entered the market in December 2019. The project provides users access to blockchain-based VPN services, a new cryptocurrency, and a data marketplace. The platform enables anyone to secure rewards when they provide bandwidth to the network. Users can select what bandwidth providers to utilize via the market. The goal of the project is to provide users with more transparent access to data services while enabling those with extra bandwidth to earn rewards.
What is The META 1 Coin?
The META 1 Coin operates as a highly advanced stablecoin in the market. Unlike Tether or the multitude of fiat-backed tokens in the market, META 1 derives value from a basket of gold-related assets. This strategy eliminates inflationary issues for users. It also makes META 1 an excellent store of value.
Multiple Assets Keep You Protected
The decision to leverage a basket of assets was wise for many reasons. For one, gold, like all precious metals, can be found anywhere and without warning. If the token was pegged strictly to gold, it would be coupled to the value of that single asset. By diversifying the assets, META 1 gains another level of protection against volatility.
A Truly Decentralized Economy
META 1 is different than many other projects in the market due to its unique smart contracts. The network is the first in the market to introduce a variety of decentralization measures. Preventing centralization was a core concern for developers because it defeats the entire purpose of blockchain tech to create these choke points in the network.
In many instances, centralization is the direct result of a planned attack on the sovereignty of a protocol. Trading firms will buy up a lot of project tokens to gain control over their governance mechanisms. Once this objective is complete, the entire project becomes less secure with the average trader suffering the brunt of the losses. META 1 introduces a few unique ways to prevent this scenario.
Humans Only
Another cool feature that is only found on META 1 is the human-only check-up process. This system requires all users to prove they are a person. By allowing only individuals to hold META 1 coins, the network eliminates the main threats to decentralization, trading firms.
The group even blocks government organizations that have been increasingly active in the decentralized economy. This step was combined with the network being launched outside of centralized regulators’ jurisdiction. This strategy enables META 1 to offer its services globally in an open manner.
Token Limit
There is a $5M token limit put in place on all META 1 token holders. This limit was designed to prevent a trader from influencing the price of the project with their actions. While it’s rare for individual traders to garner enough tokens to act as whale traders, it’s possible and has resulted in projects failing in the past.
More than a Stablecoin
META 1 lays the foundation for the greater METANOMICs universe. The system includes a variety of helpful DeFi features, a programmable blockchain, responsive DEX (decentralized exchange), and much more. META 1 users avoid the most common concerns of crypto users, as the token integrates a value control mechanism that prevents sudden market crashes.
What Problems was Orchid (OXT) Built to Alleviate?
Orchid (OXT) tackles some major problems faced by the decentralized market and those seeking access to low-cost data bandwidth. The protocol introduces a decentralized structure to enable more security and reliability. Additionally, Orchid is chain-agnostic, so it can work across a wide selection of blockchain networks.
Developers can create responsive Dapps with ease using the network. Notably, all Orchid accounts can migrate to any EVM-compatible chain. Orchid users also enjoy the ability to make nano-payments. These micropayments can originate from multiple blockchains as well.
There is a major lack of transparency in the bandwidth provider market today. The centralized nature of the sector has left regular users in the dark as to the true operating costs and profit margins large providers secure. Orchid users gain valuable insight into the network at regular intervals. For example, all information about the supply of OXT and addresses where OXT is located remains publicly available via the explorer.
Orchid also helps to relieve developer errors. The protocol introduces some coding protections to reduce common developer mistakes. Developers can create using the network’s advanced smart contracts with algorithmic advertising and payment functions. Additionally, in March 2020, Consynus published a full audit of the system’s protocols.
What Problems was META 1 Coin Built to Alleviate?
META 1 is about helping you to achieve your financial goals. The protocol provides users with a stable foundation to acquire wealth. You can use the META 1 coin to protect the value you have and expand it via low-risk passive income methods. Everything about the project demonstrates a desire to empower the average user to obtain financial freedom.
Onboarding Concerns
New investor onboarding has long been a major concern for DeFi platforms. It can be confusing for users coming from the centralized markets to enter the DeFi sector. Some new services and terms require users to do research. META 1 alleviates these problems through multiple methods.
Anyone can join the META 1 Coin ecosystem using the Onramper tool. This helpful portal supports +50 fiat currencies and 150 countries. The portal enables META 1 to provide its services on a global scale. It’s structure makes it further insulated from geopolitical restrictions that prevent millions from accessing financial services around the globe.
The open nature of the network, combined with its wealth generation tools, makes it an ideal selection for anyone seeking to build on their crypto strategy. Users gain extra protection from common issues such as centralization as well. The developer imposed strict restrictions on who can own META 1 Coins. Only individuals, and not businesses or governments, can hold or trade this token.
Friction within the Payments Sector
Sending value across the globe is a critical component of many businesses and workers today. For businesses, any savings can result in increased profit margins. In terms of remittance payments, it equals more money in the hands of family members. Sadly, sending fiat currency globally is a time-consuming and expensive task.
A lot of these expenses originate from the number of regulators and third-party verification systems. It has been reported that the average international money transfer gets handled by 36 different groups. These groups include everyone from the banks, payment processors, regulators, and more. Each adds a fee and delays the process.
META 1 enables users to send value internationally in a permissionless manner. The protocol leverages the META blockchain to provide true peer-to-peer transactions to users. The transparent nature of blockchain systems enables anyone to monitor their transactions and the health of the network.
Lack of Wealth Generation Strategies
Another issue that has held users down in the past is a lack of access to passive income streams. Passive income is a core principle to achieving financial freedom. It’s income that you receive due to past efforts. In the centralized market, this has been traditionally managed business, rental properties, commissions, and royalties.
This method required you to have enough funds to purchase properties or start a business. At the very least, you would need certain skills and talents to secure royalties. For the average person, this meant that passive income was out of reach. META 1 changes everything with its open DeFi ecosystem.
How Does Orchid (OXT) Work?
Orchid functions through the creation of a new marketplace. This market allows users to compete for payment flow by staking the native cryptocurrency OXT. The system then randomly connects users with providers based on the amount of OXT staked. This approach helps to incentivize nodes. It also adds utility to the network’s native cryptocurrency OXT.
In the Orchid network, clients pay node operators for their bandwidth services. These users accomplish this task by leveraging crypto tickets. The system’s introduction of nano-payments helps to ensure that the network remains flexible.
Orchid nodes are tasked with a variety of choirs. They are responsible for maintaining the registration information in a stake registry and provider directory on the Ethereum blockchain. There are also Orchid account holders. Users open these accounts using the stablecoin xDAI.
The Orchid App connects users from the convenience of their Smartphones. The Dapps interface helps to streamline the core processes of the network. There is a provider directory where you can connect with those selling bandwidth. You can also stake your OXT tokens to secure passive rewards.
How Does META1 Coin Work?
The META 1 DeFi ecosystem combines cool features with an easy-to-navigate dashboard. You can navigate the wallet and find all the services and options you need without any technical skills. This strategy was designed to simplify the transition to a decentralized economy.
META VAULT
META 1 Coin users have a variety of ways to expand their wealth without having to sell or trade their tokens. For one, you can open a DeFi savings account and secure 10% APY on your holdings. This APY dwarfs the pathetic 0.03% which is the average APY for US savings accounts in the US currently. The META VAULT eliminates the middlemen and shares the profits with savings account holders.
META Wallet
The META Wallet is the epicenter of user interaction with the platform. Here you can effortlessly send and receive cryptocurrencies. The META wallet is secure and operates in a noncustodial manner meaning that you are the only one with access to your private keys. Additionally, it’s packed with features.
In Wallet Staking Features
You can also stake your tokens directly from their wallets. Staking rewards are paid out in META 1 coins that can then be added to your next round of staking. The process enables users to enjoy compounding returns.
META VISA
The META VISA provides users with another level of convenience compared to competitors. The META VISA is accepted anywhere that shows the VISA logo. You can use this card to make purchases at all of your favorite online and offline retailers.
The META VISA represents the evolution of crypto payment processing. Rather than expect merchants to change their POS systems to accommodate cryptocurrencies, META 1 has shifted the responsibility to its systems. The META Visa converts your META 1 coins to fiat currency and sends them to the merchant directly. The process is seamless and the merchant is unaware of any difference.
The META Exchange
The META Exchange is another way that users can interact with the community. You can trade your META 1 coins for other popular projects in a secure and non-custodial manner. This structure provides more safety because you remain in control of your crypto throughout the trading process. When you combine this feature with the fiat onramp options, it’s easy to see how new users can seamlessly integrate META 1 into their crypto strategy.
Orchid (OXT) vs META 1 Coin – Depends on Your Needs
If you’re a firm seeking low-cost bandwidth, then Orchid is a smart option to investigate. It has low fees and a secure structure that makes it a great way to save. META 1 was built with a very specific purpose to empower the average crypto user. The combination of features and services provided by the network can help you to achieve your financial goals. As such, META 1 appears to be more valuable to the average user than Orchid due to its wealth generation methods and advanced stablecoin benefits.