Widely followed crypto analysts say Ethereum (ETH) and two other altcoins are in the critical stages of their existence and appear to be unaffected by the bear market.
With the latest information on the new market, Guy, the host of the pseudonym Coin Bureau, is the leading altcoin Ethereum, the smart contract platform Cardano (ADA), and the privacy-focused blockchain Monero (XMR), all of them. Tells the subscriber that they are in the “significant stage” of their journey.
According to Guy, future trials of the Proof of Stake mechanism on ETH’s testnet are on track to switch from the Proof of Work system in August.
“Three of the biggest projects out there are in the key stages of their existence in the coming weeks. First, Ethereum is preparing to start merging on the testnet in about a week. ..
Now, I hope this is an important step towards the integration of the mainnet in August and marks the beginning of Ethereum’s Proof of Stake era.Therefore, if the merge proceeds to the plan [testnet], Then the actual merge may proceed as planned. “
Then, on June 9, Monero said it would launch a tailor mission to permanently reduce the protocol’s block reward to 0.6XMR. According to crypto analysts, this encourages people to mine more tokens.
“Because this block reward remains permanent, miners are always motivated to protect their networks and don’t have to worry about zero block rewards as it will eventually happen to Bitcoin. Mining means that more decentralization is equal to more security. ”
Next, crypto analysts will look at upcoming Vasil hard fork updates for Cardano, which will be released at the end of June. According to Guy, the upgrade should not only speed up the protocol, but also reduce transaction fees.
“”[The Vasil hard fork] Numerous Cardano improvement suggestions have been implemented, primarily focused on making the network more scalable. In short, we hope we can achieve faster and cheaper transactions. [Also]The 5 millionth native asset has just been cast in Cardano, and Jed’s Stablecoin is just around the corner. “
Guy also says that the price of crypto assets does not necessarily really reflect how useful digital assets are.
“Remember that price isn’t everything. The most important thing is what’s happening behind the scenes and the bear market doesn’t stop the evolution of the best projects.”
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Featured images: Shutterstock / Marciano Graphic / monkographic / Mingirov Yuriy
