1.OPOptimism is the second layer solution of Ethereum, which utilizes the so-called Optimistic Rollups technology (hence its name) to move most transaction and computing data out of the first layer blockchain
1.OP
Optimism is the second layer solution of Ethereum, which utilizes the so-called Optimistic Rollups technology (hence its name) to move most transaction and computing data out of the first layer blockchain. This frees up the main chain and allows for cheaper and faster operations, freeing up more opportunities for DeFi, NFT, games, and other use cases that may quickly become very expensive when running on the main chain.
In May 2022, the Optimism team launched the Optimism (OP) token, which is the native governance token of the Optimism protocol. This token enables holders to participate in decision-making processes involving project incentives, agreement upgrades, and treasury fund allocation.
Why choose OP?
Optimism developer OPLabs announced that the Bedlock upgrade will be activated on June 6th at 16:00 UTC. The highly anticipated upgrade will bring numerous benefits to the Optimism Layer 2 expansion solution. This will include lower transaction costs and shorter Ethereum main network deposit time.
In addition, the upgrade will enhance the Ethereum equivalence of Optimism and further simplify the process of developing applications on Optimism. It is worth noting that the bedrock upgrade will introduce support for EIP-1559 and chain recombination.
OPLabs will upgrade to the "complete re architecture" of OPStack software, which forms the foundation of the Optimism network. During the upgrade period, the Optimism main network is expected to experience 2 to 4 hours of downtime.
Optimism's OP governance token has performed poorly in the market recently, with the exchange rate falling by about 28% against the US dollar last month. However, successful deployment of Bedlock upgrades may be necessary for tokens to reverse their negative trend.
2. Ruibo Coin
XRP is a cryptocurrency launched in June 2012. It was developed by David Schwartz, Jed McCareb, and Arthur Britto, who founded a company called OpenCoin with Chris Larsen. 80% of XRP supply is donated to the company by XRP developers. OpenCoin was later renamed Ripple, and the company has placed most of its XRP holdings in custody.
XRP provides very fast and low-cost transfer, making it suitable for use cases such as remittances. It does not use proof of work or proof of equity, but implements the XRP ledger consensus agreement. Each participant in the XRP network can choose a set of validators for honest behavior they trust.
Ripple has applied XRP cryptocurrency to its products, most notably on-demand liquidity (ODL). ODL collaborates with cryptocurrency exchanges to provide efficient cross-border remittances using XRP.
Why choose Ripple Coin?
The lawsuit between Ripple and the US securities regulatory agency SEC remains the main narrative surrounding XRP cryptocurrency. Ripple, which is attempting to prove in court that XRP cryptocurrency is not a security, has recently made positive progress.
In Ripple's victory, Judge Analisa Torres rejected the SEC's motion, which attempted to prevent the publication of documents related to the speech given by former SEC director Bill Hinman in 2018.
In his speech, Hinman stated that he does not consider Bitcoin or Ethereum to be securities. The SEC claims that Hinman's speech does not necessarily represent their policy.
The positive outcome of the Ripple lawsuit may bring positive momentum to the XRP market and potentially open the door for the token to be relisted on cryptocurrency exchanges such as Coinbase.
Although the exact time of the final decision is not yet clear, there are signs that Ripple's lawsuit with the SEC is finally coming to an end. In the coming weeks and months, Ripple Coin may become one of the most noteworthy cryptocurrencies.
3. Dog Coin
Dogecoin is a cryptocurrency launched in 2013, mimicking speculative behavior around Bitcoin and other cryptocurrencies. Despite its humorous origins, Dogcoin has withstood the test of time in the rapidly developing cryptocurrency market and still maintains a strong community of enthusiasts. Dogecoin received a lot of attention during the cryptocurrency market bull market in 2021, which propelled it to rank among the top in cryptocurrency market value rankings.
One of the biggest reasons for Dog Coin's popularity is the frequent mention and recognition by Elon Musk, the CEO of Tesla and SpaceX. The success of dog coins has also stimulated the birth of many counterfeit "memes", the most famous of which is the Chaigou (SHIB).
Dog coin uses the same proof-of-work algorithm as Litecoin, allowing miners to "combine mining" dog coin and Litecoin at the same time. Although Doggie Coin was once regarded as a "by-product" of Litecoin mining, in fact, DOGE has surpassed LTC in market value. Unlike most proof-of-work cryptocurrencies that have a maximum supply ceiling, the maximum supply of DOGE is theoretically unlimited. The supply of DOGE increases by 5 billion tokens annually.
Why choose dog coins?
Earlier this year, we saw a surge in activity on the Bitcoin blockchain due to Ordinals, a technology that uses unique methods to store NFTs and even custom tokens on the Bitcoin blockchain. Now, this trend has spread to dog coins, where users are now creating custom DRC-20 tokens.
This has led to a surge in activity on the Dogcoin blockchain, with daily transaction volume soaring from approximately 19000 on May 8th to 1.2 million on May 20th. Since then, the daily trading volume has been significantly revised, but the current level is about 88000 transactions per day, which is still much higher than the average level of Dogcoin last year.
It is currently unclear whether the hype surrounding Bitcoin Ordinals will persist for a long time, and this trend may be even more short-lived on Dogcoin. However, it is worth paying attention to dog coins in case DRC-20 tokens become popular and bring positive momentum to the dog coin ecosystem.
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