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The beauty of cryptocurrency since its conception is the ability for users to earn free crypto. Mining was once a popular means to earn free crypto. Still, it was inherently flawed for its significant electricity usage—skyrocketing users’ electricity bills and producing major carbon emissions detrimental to the planet.
In response, new blockchain platforms emerged that replaced the technology of mining cryptocurrency for staking cryptocurrency—known as the proof-of-stake (PoS) mechanism.
Staking cryptocurrency is an energy-efficient means to earn free crypto. Now, PoS blockchain platforms are at war to provide users with the highest-performance staking platform that makes users the most free crypto in the least time. However, new meme coin Dogemiyagi (MIYAGI) presents an alternative option to earning free crypto sustainably—but which cryptocurrency has the best option?
Solana (SOL) Staking Impacted by the SEC
Launched in 2020 by ex-Qualcomm employees Anatoly Yakovenko and Raj Gokal, Solana (SOL) was the alternative blockchain platform to Ethereum (ETH) that used the Proof-of-Stake mechanism. Users were treated to much faster transactions and lower costs than Ethereum—with the platform proving to be scalable for its energy efficiency.
In a year from release, SOL shot up over 17,000% in price, with Solana quickly becoming the go-to platform with the best metrics for staking—providing a shockingly impressive high throughput of 720,000 TPS!
Despite Solana’s impressive features, recent controversies have investors worried. The SEC has been clamping down on centralised cryptocurrencies such as XRP and BNB—issuing them with lawsuits and litigations—causing investors to jump ship.
With SOL positioned as a centralised cryptocurrency, investors believe SOL will be next—causing massive sell-offs with investors turning to Avalanche (AVAX)—the alternative staking platform.
Avalanche (AVAX): The Better Alternative Platform for Staking?
Created in 2020, Avalanche has been the layer-1 blockchain platform compared with Solana since they both offer the Proof-of-Staking mechanism, which Ethereum didn’t provide.
In terms of transaction speeds, Solana has always had the best performance. With Avalanche averaging a maximum of 4,500 TPS and 20 transactions—compared to Solana’s 65,000 TPS with an average of around 3,900 transactions.
Despite transaction speeds, Avalanche has higher staking payouts than Solana. AVAX averages an 8.55% yearly payout in contrast to SOL’s 5.5% yearly payout. Investors find longevity with Avalanche unlike Solana, since AVAX is fully decentralised—making it a less susceptible target of corruption and the SEC’s wrath.
Dogemiyagi’s Community-Led Approach to Earning Free Crypto
Dogemiyagi (MIYAGI) is a recently launched coin that came out of phase one in the past month, with a website now available to purchase MIYAGI. The meme coin is represented by a mascot that combines the Doge meme and Mr Miyagi from Karate Kid—both culturally iconic figures with cult followings.
MIYAGI is staged to become the next DOGE or PEPE through its meme power that can cause the token price to skyrocket in no time. Despite this, MIYAGI is a stable coin with practical use. MIYAGI is a proof-of-stake coin that makes it an efficient currency that can be positively scaled for mass use in the future.
The meme coin prides itself on being completely community-led with zero centrality. You can earn free Dogemiyagi tokens through a referral program, allowing community members to earn a 10% commission on their referrals’ investments. This method is a clever way for the community to earn money since it actively grows the community and increases the value of MIYAGI.
The Future of Crypto is Community-Led
Solana proved to be a technically powerful means to earn free crypto but was held back by centrality, unlike AVAX and MIYAGI. Dogemiyagi’s unique referral program is an excellent opportunity to join early. The program will continue to increase the free crypto you can receive over time as your actions actively grow the popularity of MIYAGI, that’s still in its early days.
Disclaimer: This content is not a part of NFTgators’ editorial content and is not an investment advice. Do your due diligence before making any decision.