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eToro lists Gala, Balancer, Loopring, Storj 

By:
on Mar 2, 2022
Updated: Mar 14, 2022
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  • Gala was the most successful metaverse token in 2021
  • Storj is a unique open-source cloud storage platform hosting data on a decentralized network of nodes
  • Loopring is an open protocol designed for the building of decentralized crypto exchanges

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As part of its mission to keep expanding its portfolio to offer the best and latest assets to its users, investment platform and exchange eToro announced it has added four lucrative cryptocurrencies: metaverse token Gala, Balancer, Loopring, and Storj. All four rallied on the news. Here’s a bit more information about each.

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About Gala

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Gala is the 56th-biggest crypto by market cap. It is the native token of Gala Games, which aims to take the gaming industry in a different direction by restoring control to players control.

Gala Games wants to change the fact that players can spend hundreds of dollars on in-game assets and countless hours, which could all be taken away from them with the click of a button.

It plans to reintroduce creative thinking into games by giving players control of the games and in-game assets with the help of blockchain technology.

About Balancer

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Balancer is an automated market maker (AMM) that was developed on the Ethereum blockchain and launched in March 2020. It was able to raise a $3M seed round by Placeholder and Accomplice.

Balancer protocol functions as a self-balancing weighted portfolio, price sensor and liquidity provider. It allows users to earn profits through its recently introduced token BAL by contributing to customizable liquidity pools.

About Loopring

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Loopring is an open protocol designed for the building of decentralized crypto exchanges. Centralized exchanges share a number of downsides. At the same time, fully decentralized exchanges are not without their flaws.

Loopring’s purported goal is to combine centralized order matching with decentralized on-blockchain order settlement into a product that will take the best aspects of both centralized and decentralized exchanges. This hybrid protocol will enjoy their unique advantages and eliminate inefficiencies.

About Storj

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Storj is an open-source cloud storage platform that uses a decentralized network of nodes to host user data. The platform also secures hosted data using advanced encryption.

People with hard drive space and good internet connectivity can participate in the network. They become a unit in the network, called a node. Space providers are rewarded by Storj tokens.

As a decentralized cloud storage network, Storj is unique in more ways than one. For one, unlike traditional cloud storage solutions that store data in huge data centers, Storj runs on a network of thousands of independent computers.

Anyone with a few extra terabytes of space can become a node on the platform by installing Tardigrade. All that is required is a strong and consistent internet connection.

The efficiency of the network means that hosts pay far less for the storage of their data than when employing traditional cloud storage services.

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