These two blockchain scaling networks could outperform ETH 2.0
Ethereum's 2.0 merge does not mean scaling solutions will die, so these two platforms are more than necessary post-merge!
While the Ethereum merge is expected to scale Ethereum’s network to as much as 10,000 transactions per second, there continues to be many opportunities for Layer 2 scaling solutions that are highly scalable coming into the market. Just because Ethereum can scale, doesn’t mean scaling solutions will die off. In fact, it might be the exact opposite.
Also, did you know that the ETH Merge does not actually lower the transaction fees of the Ethereum network at this stage? Later in the ETH roadmap when sharding is introduced the fees are expected to drop below $0.01 per transaction. Until then, many are still opting for other scaling solutions specifically to lower transaction costs. While many scaling solutions of the previous years have turned into giants, like Polygon, now at a $6.4 Billion market cap, there are some up and coming networks I have my eye on with the potential to outperform Ethereum.
Here are just some of the layer 2 scaling solutions out there, but the ones I’ve found for you are under the radar and not even on this chart!
This week I spoke to a very very smart blockchain founder, Dr. Yaoqi Jia, creating a new scaling solution called Altlayer that could be a potential unicorn in years to come.
Altlayer Network is a runtime execution and elastic scaling layer for all blockchains. It is EVM (Ethereum Virtual Machine) and WASM (Cosmos blockchains) compatible, and they have built a specific solution for minting NFT’s at almost no cost as well.
I am watching Altlayer very closely as no coin has been released yet and Polychain capital, one of the biggest VC’s in crypto, is one of their main backers.
Secondly I spoke with KYVE Network, on their platform for Web3 Scalability and “Data lakes".
They are optimizing data usage on Blockchains like Polkadot and Solana, and effectively are able to store all of the data inside blockchains like these at a fraction of the cost using “Arweave” technology.
They’re also bringing off-chain data like weather information (and any other world real data that smart contracts might require like price feeds, news, etc) on-chain, in a cost effectively way. Without bringing this kind of data on-chain, blockchains could not work with information from the outside world.
KYVE’s current testnet is out and we discuss the roadmap to mainnet launch. Being pre mainnet also means the KYVE governance token is not out yet so finding a way to invest in KYVE early on could see more potential upside.
Let’s hope everything goes as planned during the Ethereum Merge to 2.0 and it drives the entire cryptocurrency markets upwards. However, If and when that happens, I still expect projects like these to have more upside than ETH if they are to succeed as they are essential parts of the blockchain ecosystem as it grows.
For mainstream adoption, we need scalability!
Technical Analysis:
$BTC:
Bitcoin printed a Bullish signal on the 12H (and 1D) chart according to the Birbicator trading signal, which followed with bullish signals on many altcoin charts like SOL, ATOM, LINK, and some others (but not ETH). Any accumulation of BTC under $20,000 is said to be a good deal. Though the bottom of this cycle is not completely confirmed yet, there may be more buying opportunities for BTC below the previous low of $17,500. A DCA (Dollar Cost Average) strategy is one option in accumulating more BTC at these prices as it’s hard to predict if and when the exact bottom is.
Once the Birbicator prints a bullish Signal on the 2D or 3D chart, there will be a strong confirmation of momentum starting the next bull run back to new All-Time-Highs. When that happens, you’ll be the first time know.
$ETH:
The final piece of the Ethereum merge to 2.0 is occurring today, and yet there is no bullish signal printed on the ETH chart. Partly I believe this is because traders followed the “buy the rumour, sell the news” strategy which had ETH hit a high of $1999 1 month previous after bottom below $800, a beautiful short term trade setup.
For short term traders, I would not be longing ETH until it reclaims support at the current resistance level above $1785. However, if the ETH merge is successful, it could start a huge bull run for Ethereum and altcoins.
Other Crypto & Market News:
Ethereum’s merge to proof-of-stake will cancel out 99.91% of its network carbon emissions.
Switzerland-based SEBA Bank has launched #Ethereum staking for institutional clients.
White House says U.S. Congress may consider legislation to BAN Proof of Work Bitcoin mining. (Twitter thread on this)
Coinbase is funding and supporting a lawsuit by six individuals against the Treasury Department’s sanctions of Tornado Cash’s.
Canada PM Justin Trudeau: "Telling people they can opt out of inflation by investing in cryptocurrencies is not responsible leadership." After statements from Conservative leader about buying Bitcoin.
Citadel, Fidelity, and Charles Schwab announce plans to launch a crypto exchange.
Ripple XRP Senior Advisor says there will be CBDC announcements in the coming weeks.
EU will propose a "mandatory target for reducing electricity use at peak hours" in order to "flatten the curve.
US mortgage rates rise to 5.9%, the highest since 2008.
That’s all the news for this week. And remember, you never have enough Bitcoin!
Sincerely,
Ashton Addison
-CEO, Crypto Coin Show