One of the under-radar altcoins designed to solve some of Ethereum’s biggest challenges is to build up significant profits as ETH and Bitcoin (BTC) are integrated into the New Year.
MetisToken (METIS), a layer 2 scaling solution, keeps transaction times faster than Ethereum while maintaining the security of leading smart contract platforms.
According to the project website
“By offloading data and execution to the second tier, Metis can provide a more scalable and cost-effective environment for building and manipulating Web3 applications.”
The protocol employs optimistic rollup technology to achieve functional goals at layers above the Layer 1 blockchain, but relies on this underlying layer for both security and payments.
The native token, METIS, can be used for staking and internal payments, but it also plays an important role within the Metis virtual machine (MVM) during the creation of a Decentralized Autonomous Organization (DAC).
The project will explain,
“METIS tokens also help reduce spam and ensure trust between developers and users. To start collaborating with other users on the platform, such as establishing a DAC, users have some METIS. You need to bet.
If the collaboration is successful, these tokens will be returned to the first user. If a collaboration fails, users can lose their stakes (similar to significantly reducing penalties). Collaborators are rewarded and rewarded with METIS for their contributions. “
The price of METIS soared 122% from December 22nd to 27th, rising from $ 73.68 to a record high (ATH) of $ 164.23.
After some volatile remedial measures lowered altcoin to $ 133.42 earlier this week, it rose another 18.3% today, touching on a fresh ATH of $ 175.60. It has increased by 134% in the last 7 days.
In contrast, Ethereum has been trading flat for a week, with $ 3,762 down 18.8% from its monthly high of $ 4,631.
Bitcoin remains below $ 50,000 and is currently priced at $ 47,648.
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Featured images: Shutterstock / Sergey Nivens / Fotomay