Top 5 Coins to Watch in August
The top 5 coins to watch in August
As we move through the second half of the year, a number of cryptocurrency projects are moving ahead with continued development, and look set to benefit from significant updates and announcements that should strengthen their market positions and benefit their communities. The following five coins are set to receive increased amounts of attention over the coming weeks and are definitely the top coins to keep an eye on over June.
1. Ethereum (ETH)
Ethereum is an open-source distributed blockchain that pioneered smart contract functionality. It operates as a decentralized virtual machine that can execute scripts and be used to transfer its native ether token between different nodes. Although ether can be used as a currency, it is more commonly used to execute smart contracts. The Ethereum blockchain also hosts a number of ERC20 tokens such as MKR, USDC, and TUSD.
The final testnet before ETH 2.0 launches this week
Ethereum moves closer to ETH 2.0, and the final Medalla testnet is set to start on August 4. The genesis time is estimated to be August 4, 1 PM UTC, but commencing the chain requires a minimum validator count of 16,384 validators (524,288 ETH) and the chain won’t start until this figure has been reached. The testnet is being deployed by the Ethereum Foundation and run by Ethereum 2.0 developers, and represents the final testing phase before phase 0 of ETH 2.0, with significant releases scheduled to take place before the end of the year. You can read more about the testnet launch here.
2. Swipe (SXP)
Swipe is a crypto debit card project that allows card holders to seamlessly spend their crypto holdings via the Swipe Card. The Swipe Token is a utility token designed to be the gas and fuel for the Swipe Wallet and Swipe Card.
After being acquired by Binance, Swipe pushes forward over August
After recently being acquired by Binance, Swipe continues to push forward and the team have just completed their 2nd quarterly SXP token burn. Exactly 215,817 SXP tokens were burnt just days ago worth approximately $396,120 and the team are also set to make staking available on mainnet this month with 12% APY for SXP staking and conduct an SGV token airdrop. The team will take a snapshot of SXP balances on August 17, at 00:00 UTC, and distribute 1 SGV per 100 SXP. The Swipe team are close to launching a Decentralized Finance Lending/Earn application on Binance Smart Chain, and you can keep up with all their latest developments by checking out their Medium post.
3. bZx Protocol (BZRX)
bZx Protocol is a powerful open finance protocol that allows users to build applications that empower lenders, borrowers, and traders with the most flexible decentralized finance protocol on the Ethereum blockchain.
Why bZx Protocol? The DeFi Platform is set to relaunch this month
The project has been through a hectic 2020 and is preparing to relaunch this month. There was a highly anticipated BZRX token unlock and listing on Uniswap in July, and this represented a positive resurgence after the “hacks” experienced earlier in the year. Two incidents involving flash loans saw the protocol being exploited as the prices on connected DeFi platforms were able to be manipulated to suit the “hacker’s” objectives. The bZx team have worked on their protocol to strengthen its resilience to such practices and have incorporated the use of ChainLink oracles. They outline some of the developments here and remain on track to relaunch the platform in August.
4. Ardor (ARDR)
Ardor is a scalable blockchain platform that allows businesses to create their own child chains complete with their own tokens. Ardor describes itself as a blockchain-as-a-service platform, and the first child chain to be built using Ardor is Ignis, a public and permissionless child transactional chain built by Jelurida. ARDR tokens are required to transact on the Ardor blockchain, and child chain owners can set up custom "bundlers" to sponsor the Ardor transaction fees for their end-users.
Ardor 2.3.2 release for all node runners
The Ardor team has announced that the Ardor 2.3.2 Release is set to take place on August 11 and acts as a mandatory upgrade for all mainnet nodes. The new release represents a step forward for the platform and paves the way for the hard fork scheduled for September 22. All node runners are advised to upgrade to Ardor 2.3.2 prior to the hardfork in order to remain in sync with the network and continue to participate in the Proof of Stake (PoS) governance system.
5. Bluzelle (BLZ)
Bluzelle is a database storage solution that aims to provide a decentralized database service for the world’s apps. Bluzelle focuses on storing smaller, fixed size data fields that can be easily located and accessed on their database. Tiny pieces of data are stored on global groups of nodes or swarms that eliminate any single point of failure, and the Bluzelle algorithm stores data in a unique network model that doesn't depend on data centers and can scale database services almost instantaneously.
Phase 1 of the mainnet launch commences in August
The team is embarking on their mainnet launch process this month with the launch being split into two parts. Phase 1 begins on August 8 and will enable public staking, and anyone can become a validator node in soft mainnet, swap BLZ to BNT to participate in staking, earn BNT staking rewards, and delegate BNT to any validators. The Phase 1 Soft Mainnet launch will be followed by Phase 2, the BluzelleNet 1.0 Production Mainnet on September 8, and the team aim to have their Tendermint/Cosmos BluzelleNet chain up and running before the final quarter of the year. This is a significant step forward for the project and their outline the mainnet launch process here.