Altcoins are practically any cryptocurrency that isn’t Bitcoin (BTC). Bitcoin makes up almost half of the global crypto market cap, and its dominance appears to have no end in sight. Therefore, many cryptocurrencies have been developed to obtain the crown of the biggest altcoin. In this article, we will examine three altcoins that are battling for that top spot.
The first is Ethereum (ETH), which has a market cap of over $200 billion and is the largest altcoin to date. The second is Avalanche (AVAX) which is continually impressing developers as it records a notable increase in value over the last seven days. Finally, there is Mehracki (MKI) which is a community-driven token that targets the tourism and hospitality industry.
The Energy Efficient Platform – Avalanche (AVAX)
Avalanche (AVAX) is an open-sourced blockchain platform that uses a Proof-of-Stake (PoS) consensus mechanism. Due to it being PoS, Avalanche can reach tremendous speeds. With the use of subnets, the transactional throughput is infinite!
It takes less than two seconds for transactional finality, and the platform is energy efficient throughout the whole process as it’s CPU-Optimal. If you’re cautious about the environmental impact of cryptocurrencies, Avalanche is for you. Avalanche uses only 0.0005% of the energy that Bitcoin uses!
Over the past seven days, Avalanche has increased its value by 12.69% at the time of writing. The dramatic increase showcases the utility of the platform. Users can launch customised blockchains, privately or publicly, and dictate exactly how the blockchain is run.
Ethereum (ETH) Flourishes Over The Weekend
Ethereum (ETH) is undoubtedly the frontrunner of altcoins. The crypto giant is the host blockchain to over 3000 decentralised applications (dApps). Ethereum has increased in value by 11.04% in the past seven days at the time of writing.
The increase in value for Ethereum could be attributed to the Ethereum 2.0 merge. The merge will see Ethereum switch from Proof-of-Work (PoW) to PoS. This merger comes with a myriad of benefits for both the platform and the user. The Goerli testnet merge will take place between August 6th-12th!
The most notable change will be Ethereum’s carbon footprint. It will be reduced by a staggering 99.95%! Furthermore, the transaction speed Ethereum will be capable of will make it the fastest blockchain platform in the market. It will reportedly reach 100,000 transactions per second. That’s double what Ethereum’s rival, Solana (SOL), can process!
Sit Back And Relax With Mehracki (MKI)
Mehracki (MKI) is a community-driven feel-good meme token. Mehracki aims to focus on making hospitality and tourism easier for users as they want them to travel the world. Mehracki will champion feel-good moments and activities for people worldwide. Find out more here.
The Mehracki ecosystem is built on three pillars; a utilitarian model, incentivised adoption, and real-life application. The utility is vital to the success of a token, and Mehracki offers that. The MKI token will serve as a unitary value exchange between users and hospitality businesses. It will also verify and authenticate any transactions on the platform.
Additionally, users will be rewarded for either holding or spending their MKI tokens. Mehracki will gamify milestones for increased loyalty and the prizes will contain NFTs. The rarity of the NFT will be dependent on the milestone reached by the user. These NFTs will then count as your voting weight in the DAO where you can submit proposals!
Ethereum (ETH) and Avalanche (AVAX) both have tremendous potential. Avalanche provides any crypto enthusiast with the tools to make a customised blockchain and operate it how they see fit. Ethereum has technological upgrades coming that will undoubtedly increase its popularity further.
However, Mehracki (MKI) should not be ignored. The innovative platform is less than a month away from its launch. It has targeted a specific sector that the rest of the crypto market neglects. This unique advantage combined with the myriad of services it offers its users gives it the potential to be the biggest altcoin in the market.
If you want to find out more about Mehracki (MKI), please read this article: Make Potential Profits With Solana (SOL) & Mehracki (MKI)
Mehracki (MKI) Links:
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