Chainlink (LINK) and Tezos (XTZ) Slip While Collateral Network (COLT) Continues to Soar

Recently, two well-known coins — Chainlink (LINK) and Tezos (XTZ) — have experienced a slip in their values. However, amidst this volatility, Collateral Network (COLT) has been steadily attracting investment during the presale phase of its token distribution. Let’s find out why Collateral Network is doing so well in this time of uncertainty.

Collateral Network (COLT)

If you have ever needed to take out a loan from a bank or have been involved in the loan process, you are likely aware of the many hoops that one has to jump through to secure financing.

Enter Collateral Network, an innovative blockchain-based lending platform that aims to streamline the entire process. The real differentiator for Collateral Network is their use of fractionalized NFTs (non-fungible tokens) as collateral for loans.

These unique digital assets are minted to represent the borrower’s physical assets, such as luxury watches, high-end cars, fine art, or other valuable 

possessions. Collateral Network then lends against these fractionalized NFTs, meaning that borrowers can get access to funds more quickly and at a lower cost than traditional financing methods.

Collateral Network’s fractionalized NFTs are great for the lending industry too, as now multiple lenders can offer loans against the same asset. Collateral Network (COLT) really is making finance fairer for everyone.

Moreover, Collateral Network’s use of smart contracts ensures that transactions are transparent, immutable, and secure, reducing the risk of fraud and providing greater accountability.

The COLT token is the cherry on top for holders, providing access to the Collateral Network (COLT) platform and its services. With so much to offer, it’s no wonder that investors are flocking to buy discounted tokens during the presale phase with many experts expecting a price increase of 3,500% before the presale concludes.

Chainlink (LINK)

Think of Chainlink (LINK) as a bridge that connects two separate worlds: the real world and the digital world of blockchain. Specifically, Chainlink (LINK) is a system that gathers and delivers real-world data to smart contracts running on blockchain networks, allowing them to interact with off-chain information.

Chainlink (LINK) uses decentralized oracles, each working independently to collect accurate and trustworthy data. These Chainlink (LINK) oracles bring essential real-world information, like stock prices, temperature, or sports scores into the realm of blockchain so that smart contracts can take action based on that data.

For instance, Accuweather uses Chainlink (LINK) to pass weather data to their smart contracts, allowing them to trigger automated insurance payments in the event of a natural disaster.

However, the adoption of Chainlink (LINK) has been disconcertingly slow, which is having an impact on the price – Chainlink (LINK) is now down more than 87% from the high of $52.88 set in 2021.

Tezos (XTZ)

Tezos (XTZ) is a blockchain platform that came to life in 2018. Tezos (XTZ)’s purpose is to provide a safe and efficient playground for creating digital applications and carrying out digital agreements. Tezos (XTZ) relies on a proof-of-stake consensus algorithm to ensure that transactions are carried out securely and efficiently.

One of the most fascinating things about Tezos (XTZ) is that it can change and grow on its own, without needing any hard forks. This feature helps Tezos (XTZ) to stay up-to-date and avoid conflicts within the Tezos (XTZ) community.

However, despite all these cool features, Tezos (XTZ) hasn’t become a mainstream sensation yet. With so many layer-1 blockchain platforms popping up, it’s going to be hard for Tezos (XTZ) to stand out and compete in the long run. This is reflected in its recent price slide, with Tezos (XTZ)  down more than 86% from an all-time high.

For More Information About Collateral Network Presale:

Presale: https://app.collateralnetwork.io/register 

Telegram: https://t.me/collateralnwk

Twitter: https://twitter.com/Collateralnwk