Tezos call themselves “a self-upgradable and energy-efficient Proof of Stake blockchain”, but have they done enough to distinguish themselves from the crowd? Algorand is another blockchain, that, like Tezos, cannot be forked, but faces uncertainty again due to the competitive nature of the space. Everlodge is the first web3 vacation property marketplace and is on trend to overtake XTZ and ALGO.
Join the Everlodge presale and win a luxury holiday to the Maldives
What is Tezos and can it offer anything new?
Tezos is a programmable blockchain with smart contract capabilities, but it faces tough competition from larger platforms like Ethereum and Polkadot. This has led to limited commercial adoption compared to other cryptocurrencies.
The platform’s fairly high Gini coefficient results in wealth concentration among a smaller user base, posing potential security risks.
Despite using an eco-friendly proof-of-stake consensus mechanism and allowing delegation for partial rewards, Tezos struggles to gain widespread commercial adoption. The formalized system for protocol changes by ‘bakers’ and the high Gini coefficient are highlighted by blockchain experts as disadvantages of the Tezos network.
XTZ is down by 31% over the yearly, showing that the token is currently on a downward trajectory. The low 24hr trading volume currently at $21,164,281 shows that the market is not very interested in Tezos right now, despite their recent successful 1m speed TPS in a demo.
RWA tokenization can’t boost Algorand’s failing status
Algorand was famously supported by Gary Gensler, the infamous SEC chair. That is, until he listed it as one of several securities. Algorand is another fast and scalable blockchain, but this year has faced a lot of issues, in part due to the SEC ruling, and in part due to a significant drop in chain usage.
In February this year their TVL was around $200 million, but at time of writing it has dropped to around $48 million, according to Defilama. DeFi projects like Algofi have announced they are quitting the chain. That said there are some real world asset (RWA) protocols on the chain which aren’t included in Algorands TVL, including Lofty, a property ownership platform built on chain, with $26 million in assets.
Still, if Algofi can’t make it worthwhile to stay on Algorand, can Lofty? Everlodge, built on Ethereum, seems the better choice.
ALGO is down by 67% on the yearly.
Everlodge is targeting the lucrative global property market
Like Lofty, Everlodge promises ordinary people the chance to own stakes in properties, without the need of massive amounts of capital to get started. Unlike Lofty, Everlodge is in presale and is targeting the vacation rental market.
Another benefit of Everlodge over Algorand’s Lofty, is that properties will be sourced by Everlodge, by partnering with established hotel chains and developers. Users of Lofty are merely taking part in a 3rd person marketplace which means there is risk, and all properties are based in the US which is limiting. Everlodge will do the diligence for their users, offering properties worldwide and making things much more simple.
For those new to RWA tokenization, the process works like this: Everlodge buys properties and villas, tokenizes them on the blockchain, then creates sellable fractions. These fractions, which can be as low as $100 in value, can then be bought as NFTs.
This simple but ingenious method means an easy way for the retail investor to diversify their portfolio. Given that the global vacation rental market size was worth around $82 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 4.7%, this is a lucrative market to get involved in.
Furthermore, Everlodge is in presale, getting in early to a new promising project is the best way to make a profit. Currently in stage 1 at $0.01, ELDG is forecasted to reach $1 when it goes live later this year.
Find out more about the Everlodge (ELDG) Presale
Website: https://www.everlodge.io/
Telegram: https://t.me/everlodge
