Upcoming Important Events in the Cryptocurrency Universe in 2022
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Don't you think 2021 was a big year for cryptocurrency? Many cryptos have gained, while others have lost their battle. On the other hand, significant crypto players such as Bitcoin, BNB, and Dogecoin have upgraded to boost their efficiency.
Ethereum (ETH)
After Bitcoin comes the world's second-largest cryptocurrency, Ethereum. As we all know, it has operated on a Proof-of-Work system until now. But it is soon going to upgrade itself to Proof-of-Stake. With PoS, the blocks can be assigned randomly, significantly reducing energy consumption and being environmentally friendly. The transition to ETH 2.0 has been in the works for quite some time now. EIP 1559, as part of the London Hard Fork upgrade, made Ether a deflationary asset and brought it closer to ETH 2.0. The ETH's current execution layer will be ported over to the incoming PoS consensus layer and supported by the clients currently in charge of the Eth1. Interacting with ETH will remain incredibly similar post-Merge too. The Ethereum Virtual Machine remains an enigma to people with a high level of programming skills. To address this, ETH 2.0 will be using web assembly language in a system called eEASM. With great improvement, it can execute Ethereum app code right in today’s web browser. Since one of the major issues with ETH is its high gas fees, the cost can significantly fall with this upgrade, encouraging many projects to build on the ETH blockchain. Other benefits would be concerning the impending upgrades such as sharding, rollups, and call data improvements after the Merge, which will focus on increasing scalability without compromising decentralization.
Cardano (ADA)
Do you remember Cardano’s software engineer Sebastian Nagel estimated the release date for IOHK's Hydra upgrade would happen between 6 and 12 months? If that comes out true, it is most likely that ADA can be upgraded in 2022. It would do wonders for the crypto's price, which lost about 57% of its value in 2021. By the way, what does Hydra do? It can give ADA a massive processing speed. For instance, the world's leading payments network, Visa, can process 15,000 transactions per second, while with this upgrade Cardano network can process up to 1 million transactions per second. It is an enormous step towards scalability.
XRP (XRP)
As we all know, XRP is the native cryptocurrency for products that Ripple Labs develop. It uses a distributed consensus ledger using a network of validating servers and crypto tokens called Ripples or XRP. The most impactful event that Ripple will have in 2022 concerning the lawsuit with the SEC. If the verdict favors XRP, then the crypto price can increase drastically. On the other hand, Ripple has also announced a few more partnerships that should come online in 2022, one among those could be with LuLu Exchange. It will use RippleNet for making payments between the UAE and Pakistan. Another significant project would be the Ripple Liquidity Hub, which is set to launch this year. You can find the best cryptocurrency prices from a variety of sources.
Terra (LUNA)
Last year was an excellent start for Terra. The crypto team has been developing innovative features to provide the best metaverse experience for all its users. Terra is all set to launch its Metaverse Alpha Version in 2022. The version is still under testing. The main goal is to open it for early access with an implemented video conference function. Terra's team is also working on the early access ticket sale with limited NFT editions.
Polkadot (DOT)
Polkadot is rolling out to be the most robust platform for scalability, security, and innovation. DOT is now working on Parachain Rollout. Parachains are the diverse individual layer-1 blockchains that run parallel on Polkadot, connected to the Polkadot Relay Chain, and secured by the Relay Chain's validators set. Polkadot's cross-chain composability allows any data or asset to be sent between parachains, opening up many new use cases and applications. Let's hope to see this new upgrade launching in 2022.
Avalanche (AVAX)
Avalanche is an open-source platform for launching highly decentralized applications, new financial primitives, and interoperable blockchains. It is the fastest blockchain in the industry by time to finality and has compatibility with the ETH smart contracts. Even though Avalanche is the fastest level-scaling contract in the market, its team is now working on more scaling solutions to make it even faster. This upgrade of the Avalanche protocol can make it even quicker. With an increasing number of projects on the Avalanche network, the value of the Avalanche token is likely to increase in 2022.
Final Words
World entering the new era of metaverse cryptocurrencies will hold great promise having various benefits. We are sure that these upgrades will boost efficiency and attract people to invest in cryptocurrencies.
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More details can be found on the Mudrexofficial reddit page
Don't you think 2021 was a big year for cryptocurrency? Many cryptos have gained, while others have lost their battle. On the other hand, significant crypto players such as Bitcoin, BNB, and Dogecoin have upgraded to boost their efficiency.
Ethereum (ETH)
After Bitcoin comes the world's second-largest cryptocurrency, Ethereum. As we all know, it has operated on a Proof-of-Work system until now. But it is soon going to upgrade itself to Proof-of-Stake. With PoS, the blocks can be assigned randomly, significantly reducing energy consumption and being environmentally friendly. The transition to ETH 2.0 has been in the works for quite some time now. EIP 1559, as part of the London Hard Fork upgrade, made Ether a deflationary asset and brought it closer to ETH 2.0. The ETH's current execution layer will be ported over to the incoming PoS consensus layer and supported by the clients currently in charge of the Eth1. Interacting with ETH will remain incredibly similar post-Merge too. The Ethereum Virtual Machine remains an enigma to people with a high level of programming skills. To address this, ETH 2.0 will be using web assembly language in a system called eEASM. With great improvement, it can execute Ethereum app code right in today’s web browser. Since one of the major issues with ETH is its high gas fees, the cost can significantly fall with this upgrade, encouraging many projects to build on the ETH blockchain. Other benefits would be concerning the impending upgrades such as sharding, rollups, and call data improvements after the Merge, which will focus on increasing scalability without compromising decentralization.
Cardano (ADA)
Do you remember Cardano’s software engineer Sebastian Nagel estimated the release date for IOHK's Hydra upgrade would happen between 6 and 12 months? If that comes out true, it is most likely that ADA can be upgraded in 2022. It would do wonders for the crypto's price, which lost about 57% of its value in 2021. By the way, what does Hydra do? It can give ADA a massive processing speed. For instance, the world's leading payments network, Visa, can process 15,000 transactions per second, while with this upgrade Cardano network can process up to 1 million transactions per second. It is an enormous step towards scalability.
XRP (XRP)
As we all know, XRP is the native cryptocurrency for products that Ripple Labs develop. It uses a distributed consensus ledger using a network of validating servers and crypto tokens called Ripples or XRP. The most impactful event that Ripple will have in 2022 concerning the lawsuit with the SEC. If the verdict favors XRP, then the crypto price can increase drastically. On the other hand, Ripple has also announced a few more partnerships that should come online in 2022, one among those could be with LuLu Exchange. It will use RippleNet for making payments between the UAE and Pakistan. Another significant project would be the Ripple Liquidity Hub, which is set to launch this year. You can find the best cryptocurrency prices from a variety of sources.
Terra (LUNA)
Last year was an excellent start for Terra. The crypto team has been developing innovative features to provide the best metaverse experience for all its users. Terra is all set to launch its Metaverse Alpha Version in 2022. The version is still under testing. The main goal is to open it for early access with an implemented video conference function. Terra's team is also working on the early access ticket sale with limited NFT editions.
Polkadot (DOT)
Polkadot is rolling out to be the most robust platform for scalability, security, and innovation. DOT is now working on Parachain Rollout. Parachains are the diverse individual layer-1 blockchains that run parallel on Polkadot, connected to the Polkadot Relay Chain, and secured by the Relay Chain's validators set. Polkadot's cross-chain composability allows any data or asset to be sent between parachains, opening up many new use cases and applications. Let's hope to see this new upgrade launching in 2022.
Avalanche (AVAX)
Avalanche is an open-source platform for launching highly decentralized applications, new financial primitives, and interoperable blockchains. It is the fastest blockchain in the industry by time to finality and has compatibility with the ETH smart contracts. Even though Avalanche is the fastest level-scaling contract in the market, its team is now working on more scaling solutions to make it even faster. This upgrade of the Avalanche protocol can make it even quicker. With an increasing number of projects on the Avalanche network, the value of the Avalanche token is likely to increase in 2022.
Final Words
World entering the new era of metaverse cryptocurrencies will hold great promise having various benefits. We are sure that these upgrades will boost efficiency and attract people to invest in cryptocurrencies.
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
More details can be found on the Mudrexofficial reddit page
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