A crypto analyst with a large following says that the leading altcoin Ethereum (ETH) and two other altcoins are entering important stages of their existence and will seemingly make them immune to the bear market.
“PoS consensus for leading altcoin is approaching”
In a new market update, Coin Bureau server nicknamed Guy offers subscribers the leading altcoin Ethereum, smart contract platform Cardano (ADA), and privacy-focused Blockchain Monero ( XMR) are entering ‘significant milestones’ in their journeys, he says.
Guy, Proof of Stake (PoS) from the upcoming Proof of Work (Pow) system on ETH’s test-net, which we also report as Kriptokoin.com ) says its trial to transition to the consensus mechanism is in August, and points out:
The three biggest projects out there are entering key phases of their existence in the next few weeks. First, Ethereum is getting ready to launch the merge on the test-net in about a week. Now, this August is a crucial step on the road to main-net convergence and hopefully the start of Ethereum’s Proof of Work era. So, if the merge on (testnet) goes as planned, there is a chance that the actual merge will continue as planned.
“June 9 progress is important for Monero (XMR)”
Guy will then tailor Monero on June 9 which will permanently lower the protocol’s block reward to 0.6 XMR. He says he will start (tailor mission). According to
crypto analyst, this will encourage people to mine more tokens. Guy explains his view as follows:
Since this block reward will remain forever, miners will always be encouraged to secure the network and not have to worry about the block reward going to zero as it would eventually happen to Bitcoin. More mines means more decentralization, more security.
What will Cardano’s upcoming update bring?
Next, the crypto analyst notes Cardano’s upcoming Vasil hard fork update, which is scheduled for release at the end of June. According to Guy, the upgrade should speed up the protocol and can reduce transaction fees. The analyst says:
Vasil hard fork will see a number of Cardano improvement proposals that will mainly focus on making the network more scalable. This will hopefully mean faster and cheaper transactions. Also, the five millionth native asset has just been minted on Cardano, and the Djed stablecoin is on the horizon.
Guy also says that the price of a crypto-asset is not a true reflection of how much utility a digital asset provides. He adds:
Price is not everything . What matters most is what’s going on behind the scenes, and no bear market can stop the best projects from continuing to thrive.
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