Updated: Jun 23, 2022 11:24 IST
New Delhi [India], June 23 (ANI/ATK): Many fear that the crypto winter is the new reality the world of crypto should brace for an indefinite period.
Although there is truth to this statement, as always with crypto, not everything is black and white.
For example, during the autumn of 2021, when the market was rapidly going down, foreshadowing an inevitable downfall, El Salvadore came to the rescue by adopting BTC as its legal tender.
Following this pattern, we should expect another game-changer from the second-largest cryptocurrency by market capitalisation – Ethereum (ETH). By the end of the summer, Ethereum will deploy the long-awaited update – ‘The Merge’ – that will not only make its running operations faster with cheaper gas fees but could also push the whole crypto market north. Let’s dive in.
Marriage Of Convenience
It is no secret that the vast majority of applications, whether a DeFi platform, NFT marketplace or a token used in a project’s native ecosystem, are powered by the Ethereum blockchain. At the time of writing, more than 70% of all of DeFi is built on Ethereum, and 80% of NFTs use ETH to mint, sell and trade.
Keeping this in mind, it should not be surprising that emerging projects would use ETH and Ethereum’s blockchain to unlock their full potential. One such example is RoboApe (RBA), a futuristic meme token that aims to revolutionise the crypto industry by an-encompassing bold strategy.
The RoboApe (RBA) is a futuristic meme coin that achieves its sustainability and utility, not because it is centred around one person (like DogeCoin with Elon Musk) but because it is a community-driven project that utilises a growing economy of the RoboApe ecosystem.
The project offers various services, including DeFi, DEX, crypto education, NFTs marketplace and gaming. The RBA platform gives the community access to smart contracts, the creation of decentralised applications, and continuous development, all through the Ethereum blockchain.
(RBA) is an ERC20 meme coin built on the Ethereum blockchain that invokes numerous opportunities for its HODLers. For example, one can participate in governance, receive rewards for HODLing the token, minting NFTs, and use it as an in-game currency for the platform’s game options.
In order to resolve risks of cheating and fraudulent activities associated with the crypto industry, the developers of RobeApe are required to pair a token they release with another crypto token or fiat currency before listing it on a DEX.
This, in turn, facilitates the buying and trading process of RBA, where liquidity pools are designed to make purchasing and selling crypto tokens swift and straightforward.
RoboApe’s platform, another advantage, is hidden in its ability to enable users with cross-chain swaps, thus providing its breadth of use cases and utilities globally.
Considering the spread of services it offers and the unique approach to meme coin development, this project rightly deserves a place in every crypto enthusiast’s portfolio.
As aforementioned, (ETH) has become the backbone for the majority of crypto projects at large. Indeed, Ethereum is a technology that unites digital money, global payments, and applications under its umbrella. The community around it has built a booming digital economy that is open to virtually everyone, wherever you are in the world – all you need is internet access.
However, Ethereum has been widely criticised for costly gas fees, which was partly why many projects migrated to blockchains like Solana, which charge less for their transactions and can perform them faster. But this is about to change when the long-anticipated upgrade ‘The Merge’ will arrive at the end of the summer of 2022.
This transition will signal the end of proof-of-work (PoW) for Ethereum and start the era of a more sustainable, eco-friendly Ethereum that will utilise Proof-of-Stake instead (PoS). After this, Ethereum will be one step closer to achieving the full scale, security and sustainability envisioned in its original White Paper.
‘The Merge’ will not only make Ethereum and DApps built on top of it operate faster and at lower costs, but it also has the potential to turn around the current market trajectory. The main weakness of crypto is its volatility and sensitivity to many external factors, but it is also its main strength. If ‘The Merge’ succeeds, RoboApe (RBA), Ethereum (ETH) and the crypto market will again explode, shifting the status quo from red to green charts.
This story is provided by ATK. ANI will not be responsible in any way for the content of this article. (ANI/ATK)
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