Like a Doge Without a Bone! Sep 30, 2021
Like a Doge Without a Bone!
Billy Markus, one of the founding fathers of the often polarizing and hype-fueled blockchain network Dogecoin, recently tweeted about potential methods he thinks will help boost the declining network. “Two things I believe would help Dogecoin: Completion of DOGE-ETH bridge, and NFT platforms (e.g. Opensea) allowing for the DOGE-ETH token to be used for purchases NFTs purchasing is high demand with crypto.” Markus’ tweet comes amid the floundering of hype that boosted the meme-network to the top this past year, with much thanks to attribute to Elon Musk for repeatedly hyping the network, along with the large influx of retail investment that launched this crypto to the top. Topping $84 billion USD market cap during June 2021, and plummeting to $22 billion just a month later in July when the collective market felt a sharp pullback. The network has been struggling to hold onto its spot within the top 10 cryptocurrencies recently, getting pushed aside by the likes of Solana and Polkadot.
Algorand Virtual Machine!
This past Wednesday, the proof-of-stake protocol Algorand released a back-end overhaul for its smart contract tech, donned the Algorand Virtual Machine (AVM). This backend upgrade will allow developers to build on top of the blockchain with far more ease, claimed Algorand’s Chief Product Officer Paul Riegal. He went on to state that Algorand Virtual Machine works toward simplifying how the system processes escrow payments via smart contract, along with their general ability to handle transactions. An added effect of this transaction improvement is decreased impact of slippage between transactions, granting users more freedom to trade without worrying about changes in liquidity dampening their transaction.
Polygon Co-Founder Predicts ETH to Flip BTC
Sandeep Nailwal, one of the chief architects behind the Polygon (MATIC) network, made bold claims this past week when he foretold his vision of the future between Ethereum and Bitcoin. Nailwal claimed “Sooner or later, ETH will outpace Bitcoin and become the global standard” during an interview with Cointelegraph, and went on further to state that ETH will become “the ultimate settlement layer”. He also claimed that ETH will inevitably become superior to BTC because it has far more use cases, while BTC is hampered by its simplicity and its sole function within the monetary system as a store of value. “It may take 10 years from now, but I don’t see a world where multiple layer-1 protocols exist." he claimed. Time will tell if Mr. Nailwal’s prediction comes to fruition, but we’ll have to patiently wait and watch the two crypto titans fight for supremacy.