Top 3 cryptocurrency nuggets to watch this week, Zilliqa (ZIL), Zcash (ZEC) and Fantom (FTM)!

Statistics for total cryptocurrency market cap continued to rise during week 13. It went from $ 2.07 trillion initially to $ 2.22 trillion, even as Bitcoin, the market barometer, lost 3% in the same period. The biggest gainers from the top of the rankings are Solana (SOL), Terra (Luna) and Near Protocol (NEAR). But which coins and tokens are gearing up for interesting price action in week 14 or more? Read on to find out.

3. Zilliqa (ZIL)

Zilliqa is a high-performance blockchain platform that aims to solve scalability issues that the most popular blockchains face without compromising the security of transactions. Zilliqa achieves this by integrating sharding technology, which means that nodes are divided into groups of 600, i.e. shards, which can run multiple sub-blockchains at the same time. The more mining nodes join the network, the greater the network throughput. The blockchain uses a unique consensus algorithm, a combination of Byzantine Fault Tolerance (BFT) and the standard mining algorithm of proof of work (PoW) It is used. Additionally, Zilliqa supports smart contracts and has an active community of users and developers, which is critical to the long-term success of a blockchain platform.

The announcement of Zilliqa from Metapolis caused a rise in the price of ZIL

On March 27, the Zilliqa team announced Metapolis, the first metaverse of the Zilliqa network. But this was no ordinary Metaverse announcement, as Zilliqa partnered with Agora, a global platform for creative talent, to build the first Metaverse as a Service (MaaS) product. After uploading their content to the Agora app and receiving enough votes from the community, creators will be able to showcase their work in the Metapolis metaverse.

The announcement was very well received by Zilliqa supporters and investors, resulting in the price of ZIL doubling within 24 hours of the announcement. The price of ZIL then hovered around $ 0.10 for a day before entering the second stage of the rally, which took ZIL above $ 0.22. ZIL closed the week with + 300%. While launching a metaverse project can help the project grow over the long haul, it may not be the ideal time to buy, as sudden rises often lead to even faster collapses. But once the hype surrounding the Metapolis subsides, ZIL could become a good addition to an investor’s portfolio willing to take moderate risk.

2. Zcash (ZEC)

Zcash is an anonymity-focused cryptocurrency that obfuscates transaction data to hide sender and recipient wallets and other properties of a specific transaction. Zcash was the first zero-knowledge cryptographic project known as zk-SNARKs. This technology allows one party (the demonstrator) to prove to another party (the verifier) ​​that a statement is true, without revealing any information beyond the validity of the statement itself. Zcash is therefore a blockchain with one of the strongest privacy features.

Network Upgrade 5 (NU5), the biggest Zcash upgrade since 2020, will launch in mid-April.

In April, Zcash will undergo its largest and most significant update since 2020. The new update called Network Upgrade 5 (NU5) aims to improve the privacy and scalability of the platform by implementing recursive cryptography, evidence aggregation and conciseness of the blockchain. . The NU5 also features the Halo 2 Proof system, which will eliminate the need for a reliable installation. In Zcash’s old proof system, a select group of trusted people is needed to clean up “toxic waste,” data that could allow a bad actor to independently mint new ZECs. In addition, the Zcash team will also present Halo Arc, a suite of solutions that groups new features and products with protocol updates such as NU5 in regular releases.

ZEC’s price action has recently been on a slightly upward trend (nearly 50% in the past month), likely in anticipation of the new update. But the ZEC can climb even higher after successfully deploying the main update. Additionally, rumors are emerging that the Zcash team is considering moving to Proof of Stake (PoS) and implementing the Inter-Block Communication (IBC) protocol, which would open up a world of new use cases for ZCash.

1. Phantom (FTM)

Fantom is a fast and high performance open source smart contract platform for digital assets and dApps. It is a Tier 1 network that rivals the following networks Avalanche, Solana and Terra to dethrone Ethereum. Fantom uses the Byzantine Asynchronous Fault Tolerance (aBFT) consensus algorithm. The aBFT algorithm promises to solve the blockchain scalability trilemma, whereby only two of the three crucial components of decentralization, security and scalability are possible at the same time. It is very likely that this is one of the main factors that have made FTM one of the best performing assets of 2021. Fantom’s native asset gained around 13,000% last year.

The Fantom Foundation seeks to drive blockchain growth with 335 million FTM available through the FTM incentive program.

On March 31, the Fantom Foundation announced that it is extending and expanding its developer incentives program by launching a new FTM incentive program. The team plans to distribute up to 335 million FTM (worth approximately $ 480 million at the time of the announcement) to teams and projects developing on the Fantom blockchain. Gitcoin Grants, a funding platform for the web3 space, will help manage and vote for grant applicants.

While Fantom is willing to fund any kind of growing project in its ecosystem, be it a DeFi protocol, NFT platform, game or critical infrastructure, the Fantom community will play a crucial role in determining the recipients of the grants. . Fantom also believes that small projects that have just started with small teams should have the same opportunities as large teams that have already amassed TVL. In addition to the FTM incentive program, Fantom developers are preparing Fantom virtual machine update (FVM).. This update, which is expected to start rolling out in the second quarter of this year, improve the security and performance of smart contracts and accelerate the Fantom network.

The team hopes the revamped network will attract new users, developers and possibly even more institutional investors, which will be beneficial if Fantom wants to re-enter. the first 3. TVL’s DeFi ecosystems. According to Defi Llama, Fantom currently sits in sixth place, wedged between Solana and Tron, away from the company of the larger DeFi chains, where Fantom may be found earlier this year.

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