According to research published by BuyBitcoinWorldWide, the crypto world has grown significantly over the past year, with the number of crypto users reaching 300 million. Despite the growing popularity of cryptocurrencies, market caps and capitalizations for many leading blockchain networks have plummeted. Two of these networks are Bitcoin (BTC) and Ethereum (ETH), which have struggled to hold their value in the past few months, while both blockchain networks became the two most profitable cryptocurrencies. It continues to rise on HUH Token, a new blockchain network that plans to surpass the popularity of Bitcoin and Ethereum.
HUH Token is the new blockchain network that plans to attract crypto users with its brand. In the first row of its functions, it combines with the different theme followed by meme coins, creating the first 'utimeme' token that attracts both analysts and investors. HUH developers make a conscious effort to elevate their marketing strategy to attract the attention of high-profile influencers. The blockchain network plans to launch MetHUH, a social networking site for influencers to create content.
HUH Token also dedicates a portion of its websites to entrepreneur Elon Musk. By holding 20% of HUH tokens, it takes its marketing a step further by asking people to tweet about Musk to get their attention.
If Musk does not want the tokens to be kept for him, HUH stated that he will gift this status to a charity based on suicide prevention for young men. While influencers contribute to the rise of the HUH Token, it is also thought to potentially make it a possible coin to bring Bitcoin and Ethereum down from the top.
Being the first cryptocurrency continues to give Bitcoin a significant advantage over altcoins. BTC is classified as the top peer-to-peer cryptocurrency after Anonymous Satoshi Nakamoto created Bitcoin in January 2009 to allow online payments to be sent directly from one party to another without going through a financial institution.
Bitcoin has created a global community while spawning an entirely new industry of millions of enthusiasts who buy, distribute and trade using cryptocurrencies in their daily lives. The emergence of the first cryptocurrency laid a technological foundation that later inspired the development of many competing crypto projects. Recent news on Bitcoin showed that its value started to rise again in July due to the slowdown in US inflation. Despite all the negativities that shook Bitcoin, it managed to protect itself as a figure in crypto.
Ethereum (ETH) quickly gained popularity when it was launched in July 2015. ETH, an open-source blockchain system with its own cryptocurrency, pioneered the concept of smart contracts in blockchain networks. While smart contracts refer to computer programs that automatically execute the actions necessary to fulfill an agreement between multiple parties online, Ethereum's main innovation was to design a platform that allows smart contract implementation by enhancing the already existing utility of smart contract technology. Ethereum is also known for having the largest ecosystem in crypto, making it possible for many other cryptocurrencies to operate on the blockchain.
Ethereum plans to upgrade its mechanism by moving from using a consensus of business to a proof-of-stake algorithm to improve sustainability and scalability.
Follow Bitcoin, altcoin, crypto money news, last minute developments and current articles from Coinactual.com.