Blockchain know-how is not only about Bitcoin, the cryptocurrency with the biggest market cap and almost 42 per cent dominance (in market cap phrases) within the crypto world. Quite a few tasks are utilizing blockchains’ distributed ledger techniques to place energy within the fingers of customers, which is what they time period decentralization. This contains blockchain video games like Gala Video games and streaming tasks like Audius.
One other undertaking, Galeon, claims it might probably decentralize well being companies through the use of the peer-to-peer structure of blockchain know-how. Most tasks together with Gala Video games, Audius, and Galeon have their very own native cryptos that serve a number of functions like cost of transaction charges and voting on the undertaking’s governance.
Let’s know extra about Galeon and its native crypto.
What’s the Galeon cryptocurrency undertaking?
The undertaking talks about “organizing medical knowledge”. Blockchain know-how launched a brand new strategy to retailer data, and Galeon appears to be utilizing this to handle the data of sufferers. In addition to, Galeon claims it might probably facilitate medical analysis in a way that the customers of Galeon resolve on which analysis program to fund.
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The undertaking describes itself as a decentralized autonomous group, additionally dubbed DAO. In such an association, customers resolve governance by staking their crypto holdings in the course of the voting course of.
Galeon claims international operations and assist for analysis in well being for non-profit tasks. Galeon additionally mentions having raised over US$15 million in its preliminary coin providing (ICO).
GALEON serves because the native crypto of the undertaking, which might play a key position in furthering the DAO facet of Galeon. Based on reviews, the GALEON crypto is listed on PancakeSwap.
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GALEON crypto’s value
Based on CoinMarketCap, the GALEON crypto had a market cap of almost US$27 million as of writing, which, nevertheless, was self-reported by the undertaking and had but to be verified by CoinMarketCap. The GALEON crypto commanded a value of almost U$0.024 as of writing, with the token having misplaced worth over the previous 24 hours.
Information supplied by CoinMarketCap.com
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Galeon could also be working within the well being sector, however for the reason that undertaking could be very new, GALEON crypto’s value prediction is just not doable. The undertaking is claiming to supply a slew of companies together with recordkeeping on blockchain and medical analysis funding.
All this appears to be powered by the GALEON crypto that’s native to the undertaking. In the long run, a local token’s value motion is perhaps a product of how the related undertaking performs. For instance, Ether, which is native to Ethereum, would possibly owe its value appreciation to the adoption of Ethereum’s blockchain. By this measure, the Galeon blockchain undertaking and its GALEON coin stay a wait-and-watch factor.
That stated, since GALEON has a really low market cap, crypto fans should train excessive warning. As of writing, GALEON couldn’t make it to even the highest 1,000 crypto property by market cap.
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