The crypto industry continues to soldier on despite the seemingly endless market-wide dip. The community will have things to look forward to with the Ethereum (ETH) merge this summer that has been rumoured to blow the project’s value and adoption sky high. Also, the new meme token, Mehracki (MKI) is in its presale phase and is doing very well. Investors and crypto enthusiasts are excited about its launch as well as Solana’s (SOL) promising price predictions. Read on to understand more about these upcoming events.
Ethereum 2.0 Upgrade To Launch Soon
The Ethereum (ETH) blockchain currently operates on the proof-of-work (PoW) consensus mechanism which doesn’t allow for much scalability on the network. This has led to the upgrade which is supposed to “Merge” the current Ethereum Mainnet with the beacon chain proof-of-stake system and transition the blockchain to the more energy-efficient and sustainable proof-of-stake (PoS) consensus mechanism. This transition is expected to improve the blockchain’s scalability, increase its transaction speeds while significantly reducing its gas fees, and generally lower the network’s energy consumption by 99% at least.
For the Ethereum blockchain and its users, this upgrade is expected to bring in a lot of advantages, the most anticipated being the ability to stake ETH tokens. Also, solving the network’s major problems of energy consumption, high gas fees, and low throughput, the platform is expected to become heavily adopted which could potentially increase its crypto’s value in the market. According to Vitalik Buterin, Ethereum’s (ETH) co-founder, the Merge is supposed to take place in August “if there are no problems”.
Mehracki (MKI); The Meme Token With Love On Its Mind And Solana (SOL); The Network It Is Built On
Mehracki is a crypto project with plans to hand over control of the platform to holders of its native token, MKI. It is built on Solana (SOL) and this is for various reasons, some of which are explained below.
- Solana (SOL) is capable of high throughput and speeds with low chances of downtime. Benefiting from this, the platform wants its users to worry less about transaction delays or payments refusing to go through.
- Solana (SOL) offers an average transaction cost of $0.00025 which is almost inconsequential in transactions and would mean that users don’t have to fear losing most of their investments in gas fees.
- The Solana blockchain is a very scalable network, processing over 65,000 transactions per second (TPS) and that is with its very low cost of transactions. And with its plans to integrate on OpenSea, Mehracki’s feel-good NFTs will have a broader audience.
The Mehracki ecosystem is intended to be simple, interactive, and usable by the majority, fulfilling the platform’s promise to make users worry less. Although it is intended to be a meme token, MKI has real-life applications meant to boost its utility. It will be used for transactions on the platform, all of which will attract a 0.5% charge that will be put back into the ecosystem through staking rewards, a liquidity pool, and rewarding developers’ contributions. The ecosystem will also feature an NFT marketplace for feel-good NFTs which will be gifted to token holders to reward them for new spending levels. The higher the level, the rarer the NFT. The token is currently in its presale phase and is selling for $0.0000953 which is already an increase from its initial price of $0.000056.
Solana (SOL) happens to have the fastest-growing ecosystem in the blockchain world and for good reason. It is a decentralized blockchain built to enable scalable and user-friendly apps for the world. It is incredibly fast, cheap and scalable as explained above. The blockchain has projects in DeFi, NFTs, and Web 3.0 and with its current trajectory with OpenSea, it’s well on its way to becoming the biggest token for NFTs. Solana (SOL) has been predicted to go as high as $200 by the end of the year and maybe even reach $400 in 2025.
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