Chainlink Earns #1 Spot with Staking Announcement—The Top 3 Coins to Watch for Oct 3—Oct 9

The cryptocurrency and blockchain industry keeps moving forward despite uncertainties in the markets. Let’s check out three projects that will be especially interesting to follow in the next few days.

3. Tezos (XTZ)

Tezos is a blockchain platform for smart contracts that utilizes a Proof-of-Stake consensus mechanism. The native asset of Tezos is called XTZ, and is used for staking and paying transaction fees on the network. The Tezos blockchain was designed with a focus on governance and upgradeability, so that it can quickly adopt new technologies where appropriate. For example, the Tezos blockchain can be upgraded without going through a hard fork. 

Tezos has already received 9 major upgrades. Currently, the Tezos community is in the process of testing an upgrade called Jakarta, which would introduce an experimental implementation of optimistic rollups, alongside other changes. 

The Tezos blockchain launched in 2018, and the project raised more than $200 million worth of BTC and ETH through a highly successful initial coin offering (ICO) in 2017. 

Why Tezos? The platform successfully underwent the Kathmandu upgrade

Even though most of the attention was focused on the Ethereum Merge and Cardano’s Vasil upgrade, other projects have also been pushing improvements to their protocols. Smart contracts platform Tezos was recently enhanced with the Kathmandu upgrade, the 11th upgrade since the network went live. 

The Kathmandu upgrade upgraded the ability of the Tezos blockchain to serve as a base layer for layer 2 scaling solutions, making it possible for developers to start working with smart contract optimistic rollups on Tezos testnets. It has also introduced efficiency improvements to the block validation process, improving the platform’s throughput for transactions. In addition, Tezos now supports Verifiable Delay Functions (VDFs), enhancing the platform’s ability to generate random seeds securely.

Due to the architecture of the Tezos platform, the upgrade didn’t require a hard fork, and was accepted through an on-chain governance process.

2. Optimism (OP)

OP is a governance token created by Optimism, a Layer-2 scaling solution for the Ethereum blockchain. Optimism have created a governance structure that consists of two groups—the Token House and the Citizens’ House. Both groups contribute to the project’s governance, and help determine how the revenue generated by the Optimism platform is distributed to drive further growth. OP token holders participate in the Token House, and vote on issues like incentive distribution, protocol upgrades, and the handling of treasury funds.

Why Optimism? Optimism ecosystem gets boost from OpenSea and USD Coin integrations

As a leading layer 2 for Ethereum, Optimism continues to be adopted by important players in the crypto ecosystem. OpenSea, the largest NFT marketplace by trading volume, has announced that it now supports trading of NFTs issued on the Optimism blockchain. At the time of writing, the most traded Optimism-based collection on OpenSea is Early Optimists, with a 30-day trading volume of 548 ETH.

Another important Optimism-related announcement came from Circle, which says it plans to issue the USD Coin stablecoin on the Optimism platform. Having a native version of USDC on its platform could boost the platform’s DeFi ecosystem, as USDC is a popular choice among decentralized finance protocols and users.

In the coming days, it will also be interesting to see if Optimism’s OP token can see some relief in the markets. The token has lost about 20% of its value in the last month despite some positive developments in the Optimism ecosystem.

1. Chainlink (LINK)

Chainlink is a decentralized oracle network that connects blockchain-based smart contracts with high quality off-chain data. This enables a wide variety of decentralized applications that aren’t possible without oracles. For example, a decentralized finance app can use Chainlink to access data about the prices of cryptocurrencies on centralized exchanges, which is useful for applications like crypto-collateralized stablecoins and synthetic tokens. 

Chainlink oracles are also capable of supplying verifiably random numbers to smart contracts, which makes it useful for blockchain-powered games and NFT collections that require randomness in their minting process. 

The platform is widely used on a variety of blockchain platforms. According to the Chainlink website, the total value of crypto assets deposited into markets that use Chainlink oracles exceeds $37 billion.

Why Chainlink? LINK staking will go live in December

Last week, we saw a series of notable announcements at Chainlink’s SmartCon conference in New York. LINK holders were probably most excited by the news that LINK staking is expected to go live in December. The initial staking pool will have 25 million LINK tokens, with plans to grow it to 75 million tokens if there is sufficient demand.

The project also announced two significant initiatives, BUILD and SCALE.

SCALE is meant to improve the economic sustainability of Chainlink, and help ecosystem participants accelerate their growth. Projects that participate in the SCALE program opt to cover operating costs for Chainlink’s decentralized oracles, giving developers more affordable access to oracle services. A number of notable projects have already signaled that they will participate in SCALE, including Avalanche, Metis, Moonbeam and Moonriver.

BUILD, on the other hand, gives projects the option to allocate a portion of their total token supply to Chainlink and in return benefit from enhanced access to Chainlink’s services and technical support.

Chainlink has also partnered with Coinbase Cloud to allow developers to quickly access price floor data for NFT projects.

This news is republished from another source. You can check the original article here

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