The crypto industry is forever evolving and growing with new cryptos breaking the market and old ones adding to their usefulness. Parody Coin (PARO) is a new crypto project that just got released and is currently in its presale phase. Cardano (ADA) and Ethereum (ETH) are two top veteran projects with upcoming upgrades that they expect to push them even further ahead in the crypto world.
Parody Coin (PARO)
Parody Coin (PARO) is in its presale phase and will be there for another couple of weeks. It is a new deflationary utility BEP20 token built on the Binance Smart Chain (BSC) with numerous ways for its users to earn rewards for their participation in the Paroverse. The three main utility features that the protocol offers include;
- Parody Swap on which users can swap any crypto on the blockchain for the equivalent of PARO tokens. It is a multi-chain swap that aggregates liquidity into one place.
- Parody Bridge through which users can transfer PARO tokens to other blockchains
- Parody Market is an NFT marketplace that allows its users to mint parodies of popular NFTs at affordable prices. The Parody Market is a decentralized app (DApp) on the BNB Chain with a user-friendly interface that allows users to mint parodies of NFTs on BNB Chain, Ethereum, and other blockchains.
All these features provide a well-rounded ecosystem for users and investors. Another to note also about the Parody Market besides making NFTs more accessible to the public is that owners of the original NFTs are not cut off. Through a robust bridge, the owners of the original NFTs can claim ownership of the parody NFTs by locking up or burning their originals.
On its website, Parody Coin states that there will be a total supply of 240 billion PARO tokens. The token is currently selling for $0.004 in its presale and with its offerings, this price has the potential to surge so it might be best for investors to buy in now.
Ethereum (ETH) Transitioning To Proof-of-Stake (PoS)
Ethereum (ETH) is the second-largest crypto and blockchain in the world today. It is an open-source, decentralized blockchain that has smart contract functionality operating on a proof-of-work (PoW) consensus mechanism. It is very popular in the crypto world and has a lot of projects built on it. Due to its high adoption and popularity, the network is being heavily used which has led to its congestion and high transaction costs.
As a solution, developers are working on transitioning Ethereum’s (ETH) blockchain to a proof-of-stake (PoS) consensus mechanism. This upgrade is being termed Ethereum 2.0 (Serenity) and is scheduled to go in 2023 following its phase one launch in 2020. This upgrade is expected to seriously improve the blockchain’s throughput, reduce its costs and perform an estimated 100,000 transactions per second (TPS).
For Ethereum (ETH), a lot is riding on this upgrade, hence the anticipation.
Cardano (ADA) Vasil HardFork Upgrade
A hard fork is an upgrade to a blockchain network’s software that makes previously invalid blocks and transactions valid.
Cardano (ADA) is a decentralized, open-source blockchain network operating with the proof-of-stake consensus mechanism. A lot of blockchain networks don’t do the upgrade, however, this protocol goes through improvements every year.
Cardano (ADA) has previously gotten a hard fork upgrade called “Alonzo” and now it has plans to implement its “Vasil” hard fork upgrade and it is expected to be released in June of 2022. The upgrade will increase the blockchain’s throughput and further enhance its smart contract, decentralized exchanges (DEXs), and decentralized finance (DeFi) capabilities.
For More Information On Parody Coin (PARO)
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