Top 3 Coins to Watch August 02 - August 08, 2021
As we move through Q3, a number of projects are moving ahead with continued development, and this week’s choices are set to benefit from significant updates and announcements that should strengthen their market positions and benefit their communities. The news should also result in increased amounts of attention to each respective currency over the coming weeks.
1. Ethereum (ETH)
Ethereum (ETH) is an open-source distributed blockchain that has smart contract functionality, and operates as a decentralized virtual machine which can execute scripts and be used to transfer ether between different nodes. Ethereum retains the status as the principal smart contract provider and platform for hosting ICOs with a number of leading projects operating ERC-20 tokens on the Ethereum network.
Why Ethereum? London Hardfork on August 4
The London hardfork is scheduled to take place on the Ethereum’s mainnet at block 12965000 which was initially expected to occur on August 4 between 13:00 UTC and 17:00 UTC. The network upgrade includes Ethereum Improvement Protocols (EIPs) such as EIP-1559 related to the fee market change for the ETH 1.0 chain, EIP-3198 concerning BASEFEE opcodes, EIP-3529 covering a refund reductions, EIP-3541 related to the rejection of new contracts starting with the 0xEF byte, and EIP-3554 which delays the difficulty bomb to December 1, 2021. The London hardfork brings Ethereum closer to ETH 2.0 with a Proof of Stake (PoS) consensus, and you can track the countdown on Etherscan, with the latest projection being August 5 around 13:00 UTC.
2. Neo (NEO)
The NEO blockchain project was founded in 2014 under the name AntShares, but it was rebranded in 2017. NEO is a decentralized platform that enables users to launch smart contracts and DApps. The network makes use of GAS, and holders of the NEO token periodically receive GAS, and the more NEO they hold, the more GAS is awarded.
Why Neo? Mainnet 3.0 Launch on August 2
Neo continues to evolve since its 2017 rebranding, and version 3.0 of the Neo Mainnet will launch on August 2. After launching successful testnets the Neo team produced a new codebase for v3.0.0 of their mainnet, and moved to launch the Neo N3 Formal Testnet on August 1. The Neo N3 MainNet will follow on August 2, and the team have confirmed that token migration options will become available from next week, and NEO holders should keep an eye on the team’s social media channels as they will release updates next week.
3. Stacks (STX)
Stacks is a decentralized computing network and app ecosystem that uses the Bitcoin blockchain as a secure base-layer. The Stacks 2.0 blockchain brings apps and smart contracts to Bitcoin, and enables new ways to earn BTC.
Why Stacks? MiamiCoin Launches This Week
After launching a series of new protocols recently, the Stacks platform will launch MiamiCoin on August 3. The MiamiCoin kicks off the CityCoin Initiative and anyone can mine $MIA it, stack it to earn STX and BTC yield, or choose to borrow or lend their coins. MIA miners will need to download a Stacks web wallet, and get STX from any supporting exchange. The team have also produced a tutorial video which can be seen here, and you can find out more about the Stacks CityCoin initiative here.
How did the coins perform last week?
The seven day period generally led to positive results across the market; and FLOW grew by 16% and is currently trading at around $22. HNT improved by 18% and is currently trading at $14, and EXRD fell by 2% over the week, and is currently trading at $0.13. Over the course of the week, the market moved from an overall valuation of $1.40T to $1.66T.
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