One under-the-radar altcoin that’s designed to unravel a number of of Ethereum’s greatest challenges is stacking up large features as ETH and Bitcoin (BTC) consolidate into the brand new 12 months.
The layer-2 scaling answer Metis Token (METIS) gives decrease charges and quicker transaction occasions than Ethereum, whereas nonetheless retaining the safety of the main good contract platform.
In line with the venture website,
“Offloading information and execution to a second layer permits Metis to supply a extra scalable and cost-efficient setting for constructing and interacting with Web3 purposes.”
The protocol employs optimistic rollup know-how to attain its purposeful objectives on a layer above the layer-1 blockchain however depends on this underlying layer for each safety and settlements.
METIS, its native token, can be utilized for staking and inner funds, but additionally serves an necessary operate throughout the Metis Digital Machine (MVM) through the creation of a decentralized autonomous firm (DAC).
The venture explains,
“METIS tokens additionally play a job in lowering spam and guarantee belief between builders and customers alike. Customers should stake some quantity of METIS to start out a collaboration with others on the platform, such because the founding of a DAC.
These tokens will probably be returned to the preliminary customers if the collaboration is profitable. Unsuccessful collaborations can result in customers dropping their stake (akin to slashing penalties). Collaborators may also be paid and rewarded in METIS for the contributions.”
The worth of METIS surged 122% from December 22th to the twenty seventh, working its method up from $73.68 to an all-time excessive (ATH) of $164.23.
After some uneven corrective motion took the altcoin as little as $133.42 earlier this week, it’s again up one other 18.3% right this moment and touched a recent ATH of $175.60. It’s now up 134% within the final seven days.
Against this, Ethereum has been buying and selling flat all week and at $3,762 is down 18.8% from its month-to-month excessive of $4,631.
Bitcoin stays beneath $50,000 and is presently priced at $47,648.
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