Unlike traditional cryptocurrencies such as Bitcoin or Ethereum, meme coins generally lack a strong technological foundation or real-world utility. Their price movements are predominantly driven by community hype, social media buzz, and speculation. Nonetheless, meme coins remain an attractive, albeit risky, entry point for some investors due to their potential for rapid price increases.

TRON Trails and Meme Coin Tales: A Look at Emerging Projects

TRON is a blockchain platform known for its scalability, low transaction fees, and support for smart contracts. These characteristics make it an appealing environment for launching meme coins. The relatively low costs of creation and trading on TRON encourage smaller projects to thrive.

On the TRON Meme coin list, you can find various meme coins built on TRON, including SUNDOG, which accounts for about 62% of the sector’s total market capitalization of $86.43 million. With a 24-hour trading volume of $21.02 million, SUNDOG demonstrates the active interest and liquidity that meme coins can attract on this platform. TRON’s affordability and network efficiency continue to draw creators looking to establish meme coins with lower barriers to entry.

Speed, Scale, and Hype: Solana’s Meme Coins Versus TRON

Solana is another high-performance blockchain recognized for its fast transaction speeds and low fees. It has also emerged as a popular hub for meme coin creation, hosting projects like Bonk, Solama, and Smog. The total market capitalization of meme coins on Solana is around $10.4 billion, which has seen a 4.1% decrease over the last 24 hours 222.

Solana’s ecosystem benefits from platforms such as Pump.fun, which streamline the process of launching and distributing new tokens. Although Solana’s meme coin market cap currently surpasses that of TRON, TRON remains competitive for smaller projects due to its cost-effectiveness. Both networks leverage strong community engagement, essential for the viral spread of meme coins.

Beyond the “Big Two”: Meme Coins on Ethereum and Other Networks

Meme coins exist on numerous other blockchains, each with its own set of advantages:

• Ethereum: As the home of many original meme coins (e.g., Shiba Inu), Ethereum boasts a well-established ecosystem. Despite higher gas fees, it remains a go-to platform for large-scale projects and investors looking for greater liquidity 333.
• Cardano: While not traditionally associated with meme coins, Cardano has seen the emergence of community-driven tokens inspired by internet culture.
• BNB Chain: Formerly known as Binance Smart Chain, BNB Chain also provides a low-fee environment for meme coin development and benefits from integration within the broader Binance ecosystem.

Riding the Meme Wave: Predicting What’s Next

The future trajectory of meme coins is uncertain but appears promising in the context of growing interest in cryptocurrencies. Certain market predictions for 2025, like the potential rise of SPX6900 to $2.40 in January 444, suggest that some meme coins may yield significant returns for early adopters. However, the high volatility and prevalence of scams necessitate thorough due diligence.

Social media platforms and influencer endorsements will likely continue to play a critical role in the expansion and hype surrounding meme coins. As crypto adoption increases, new investors—drawn by the allure of meme culture—could further fuel the sector’s growth.

Wrapping Up the Memes: Strategies, Risks, and Final Thoughts

Meme coins offer an entertaining yet speculative segment of the cryptocurrency market. TRON and Solana stand out as leading platforms due to their technical advantages—speed, scalability, and low fees—which make it easier for developers to launch new projects. Other blockchains, notably Ethereum, Cardano, and BNB Chain, also feature thriving meme coin communities.

Despite the potential for high returns, meme coins remain risky investments, largely driven by social media buzz and lacking inherent utility. Investors are advised to exercise caution, conduct thorough research, and understand the inherent volatility before allocating capital. In the end, while meme coins can be an exciting part of the crypto space, they should form only a small portion of a well-diversified portfolio.

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What is Tron (TRX)?

Tron is not just a cryptocurrency, but a real revolution in the blockchain ecosystem! Founded in 2017 by Justin Sun, the platform had ambitious goals from the very beginning: to create a new internet where there are no middlemen and everyone can control their data. Tron quickly gained popularity thanks to decentralization and amazing transaction speeds. As of 2024, the platform has processed over 4 billion transactions and continues to grow rapidly.

Tron is not just TRX, it is an entire ecosystem with decentralized applications (dApps) and smart contracts that can be run on the blockchain. The platform has greatly improved its technological foundation, providing instant transfers and minimal fees, which has attracted thousands of developers around the world.

Tron is a step towards creating a new internet where there is no room for centralized structures like banks and governments. And for this purpose, the platform is already actively cooperating with major players in the blockchain industry, such as Ethereum and BitTorrent.

How does Tron work?

Tron is not just a cryptocurrency, but an entire ecosystem that uses blockchain to create a decentralized internet. It works on the basis of a distributed network, which guarantees maximum security and transparency of all transactions. Tron enables fast and cheap transactions, the creation of smart contracts, and the launch of dApps (decentralized applications).

TRX Price Forecast 2024-2025:

Many analysts predict a steady increase in the price of TRX in the coming years, with a possible 30-50% increase in 2024 if Tron continues to grow at the same pace. In 2025, the TRX price could reach even greater heights if the project fulfills its plans to scale and increase partnerships.

Thus, the outlook for Tron remains positive, especially given the growing interest in decentralized technologies and applications.

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Ethereum

Ethereum is one of the most popular and oldest blockchain platforms. It has provided the world with smart contracts and has been the basis for the creation of many decentralized applications (dApps).

User-friendliness:

• Diversity of dApps: The platform has many decentralized applications available, making it convenient for users who want a wide variety of choices.
• High fees: One major disadvantage is the high transaction fees, especially during periods of network congestion.

Developer Convenience:

• Solidity and tools: Ethereum uses the Solidity programming language, which is the standard for creating smart contracts. However, development requires some knowledge and experience.
• Tools and Support: There are powerful development tools and libraries such as Truffle and Hardhat, which greatly simplifies the process of creating dApps.

Solana

Solana is known for its high performance, with the ability to process tens of thousands of transactions per second. This makes the platform particularly attractive for applications that require scalability.

User Convenience:

• Low fees: Solana offers minimal transaction fees, which greatly improves the user experience.
• Transaction speed: Fast transaction processing makes using the network convenient and efficient.

Developer Convenience:

• Rust and C: Solana supports the development of smart contracts in Rust and C, which requires developers to be proficient in these languages.
• Relative complexity: The platform offers good features, but it can be challenging for those new to blockchain development.

Polkadot

Polkadot creates an ecosystem for different blockchains, allowing them to interact with each other. This makes the platform a great choice for projects that want to be part of the multichain world.

User-friendliness:

• Integration with other blockchains: Thanks to its multichain structure, Polkadot allows users to work with different blockchains, increasing convenience.
• Overall security: The platform guarantees the security of all connected chains.

Convenience for developers:

• Parachain customization: Developers can create their own parachains for specific needs.
• Nominated Proof of Stake (NPoS): For new developers, this mechanism can be difficult to understand, but for experienced developers, it is a powerful tool for network management.

Cardano

Cardano is focused on creating decentralized solutions with a high degree of security. The platform utilizes the unique Ouroboros consensus mechanism based on Proof of Stake.

User Convenience:

• Low fees: Cardano offers low fees, which makes using the platform profitable.
• Energy efficiency: Unlike many other blockchains, Cardano consumes much less energy, which is a plus from an environmental perspective.

Developer Convenience:

• Haskell and Plutus: Developing on Cardano requires knowledge of functional programming languages such as Haskell and Plutus, which can be challenging for beginners.
• Slow development: Although Cardano is actively developing, at the moment the platform is still not as popular as Ethereum or Solana, which may limit the number of tools available.

Avalanche

Avalanche is a platform focused on fast transactions and high scalability. It uses a unique consensus algorithm that supports thousands of transactions per second.

User Convenience:

• Speed and low fees: With high performance and low fees, Avalanche is a great choice for users who value speed and savings.
• Interoperability: The platform supports various networks and protocols, which increases its usability for users interested in multi-chain applications.

Convenience for developers:

• Smart contracts on Solidity: Avalanche is compatible with Solidity, making smart contract development easier for those familiar with Ethereum.
• Modularity: The platform provides the ability to create different subchains, giving developers more flexibility in building applications.

Bottom line: Which to choose?

Ethereum is ideal for those who are looking for a mature and powerful platform with a wide range of development tools, but are willing to deal with high fees and scalability complexities.

Solana is attractive to users and developers who value high speed and low commissions. However, it can be challenging for beginners due to the need for knowledge of Rust and C.

Polkadot is a choice for those who want to build a multi-tiered blockchain ecosystem with a high degree of security and flexibility.

Cardano will be of interest to those looking for a platform with high security and low power consumption, but ready for the challenges of developing in functional languages.

Avalanche is ideal for projects that value speed, scalability, and low fees, while being compatible with Ethereum, making the transition easier for developers.

Each platform has its own strengths and weaknesses, and the choice depends on the specifics of your project and your preferences for user and developer experience.

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Elements of Solana transactions

A Solana transaction is the transfer of SOL coins from one wallet to another. To better understand this process, it is important to know the basic elements that form it. They include all the same components as other cryptocurrencies, but they also have unique ones. Here’s a description of them:

• Signatures. This is a cryptographic confirmation that the transaction was executed by the legitimate owner of the coins. In other words, signatures authorize the transaction;
• Accounts. This is a system that assumes that various accounts store coin data. They are divided into payer account (the one who pays the fee), source account (from which assets are transferred), receiver account (the one who receives the assets), and program accounts (the smart contracts that are interacted with);
• Instructions. This element refers to the tasks that will be performed during the transaction. In other words, these are actions directed to Solana network programs, or smart contracts;
• Message. It contains signatures, accounts, and instructions. In general, it is all the data needed to execute a SOL transaction;
• Program ID. This component indicates which smart contract the transaction is interacting with;
• Hash. This is a reference or identification number of the transaction that allows you to track its status. Using the hash, you can find out if it has been validated in the blockchain or is in processing;
• Fee. This component refers to the cost of performing a transfer on the network, which is paid in SOL’s own coin.

Solana transaction process

Now let’s take a look at how the transaction lifecycle happens in Solana:

• Stage 1: Creation. In this stage, the user decides to send Solana coins and fills in all the necessary fields in the crypto wallet: coin, amount, blockchain, crypto wallet address, accounts and instructions.
• Stage 2: Signing. The cryptocurrency owner authorizes the transaction using private keys. This usually happens automatically after the user clicks “Confirm Send”.
• Step 3: Sending to the network. Once signed, the transaction is sent to the Solana network via the wallet, dApp, or directly through the node.
• Stage 4: Validation. The transaction is checked by blockchain validators for authenticity. This stage primarily checks the signature and the account balance, which should be sufficient to cover commissions.
• Step 5: Distribution to the network. After the first verification, the transaction is sent to other validators for verification. Solana uses a Proof-of-History (PoH) mechanism to conveniently organize the validation process, which ensures data order and high dispatch speed.
• Stage 6: Execution. The transaction instructions are executed by smart contracts. If necessary, changes are made at this stage, such as updating the account balance.
• Stage 7: Confirmation. When the transaction is completed, it is included in the blockchain. Validators then complete the processing, making the transaction irreversible.

When all these steps are completed, the transaction is considered successful. And for a Solana transaction to be effective, you need to know a lot more about its aspects, especially the fees.

Solana transaction fees

Commissions on the Solana network, like on other blockchains, are based on a rewards system: the validators who check transactions receive them as payment for their work. But unlike many other networks, Solana’s fees are extremely low.

For example, SOL transfers are charged an average fee of 0.000005 SOL, which is less than a cent. Of course, this amount can vary, but only slightly. This is another advantage of Solana commissions: they remain low even during periods of high network congestion. This effect is due to the high scalability of the network, making SOL transactions a popular choice for high-frequency trading, DeFi and decentralized applications (dApps).

How long does a Solana transfer take?

Solana has another advantage over other blockchains – it has a high transfer speed. Solana takes 0.4-0.5 seconds to confirm a transaction, and up to 65,000 transactions can be processed simultaneously every second. This speed is due to a combination of Proof-of-Stake (PoS) and Proof-of-History (PoH) mechanisms, both of which increase the speed of transaction processing on the network.

Like fees, SOL’s transaction processing speed is generally stable. However, it can vary depending on a number of factors.

Solana transactions are most often chosen for frequent trading because of their high speed and low cost. This is the main advantage of this blockchain network compared to others. However, delays are also possible due to the state of the network and the peculiarities of a particular transaction, so try to choose the least busy time to make transfers and double check the correctness of the entered data.

We hope that this guide was useful to you and now you know everything about Solana transactions. If you still have any questions, feel free to ask them in the comments!

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High speed and affordable commissions at Avalanche

Avalanche is a platform for building decentralized applications and blockchain solutions, known for its high transaction speed and low commissions. It utilizes the unique Avalanche Consensus algorithm, which can process up to 4,500 transactions per second.

Commissions on Avalanche are traditionally low, in the range of $0.01 per transaction, making it attractive to users and developers. This is especially important for DeFi projects and apps where a large number of transactions can quickly drive up costs.

Binance Smart Chain Optimized for speed and cheap transactions

Binance Smart Chain (BSC) is a blockchain platform created by the largest cryptocurrency exchange Binance. It aims to offer users fast transactions with low fees, making it a great alternative to Ethereum. BSC uses the Proof of Staked Authority (PoSA) consensus, which provides greater speed and accessibility.

Commissions on BSC are also low, typically in the range of $0.10 per transaction, making the platform attractive to DeFi projects and NFT platforms. However, while commissions on BSC are slightly higher than Avalanche, it remains one of the most affordable transaction platforms.

Commission Comparison

Avalanche: Commissions range from $0.01 to $0.10 per transaction, making it one of the cheapest blockchain platforms.

Binance Smart Chain: Commissions are typically around $0.10, which is also quite low, but slightly higher than Avalanche.

Bottom line

If your main goal is to minimize commissions, Avalanche may be a better choice due to its low transaction fees. However, Binance Smart Chain also provides very affordable commissions, making it a good alternative for fast and cheap transactions, especially if you’re already using the Binance ecosystem. Both platforms offer significant advantages in terms of speed and cost, but when it comes to minimal commission costs, Avalanche comes out ahead.

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One of Ethereum’s key advantages remains its ecosystem. Thanks to its early launch, it has become the standard for decentralized applications (dApps) and smart contracts. Millions of users and developers are already on the platform, and this creates a strong network effect. In addition, the move to PoS promises to reduce network power consumption by 99%, making Ethereum more environmentally friendly.

However, competitors are not slumbering. Solana offers incredible transaction speeds and low fees, making it attractive to DeFi and NFT projects. Polkadot stands out for its multichain architecture, which allows different blockchains to interact with each other. Avalanche provides high performance and compatibility with Ethereum through the Avalanche Virtual Machine (AVM).

Despite these competitive strengths, Ethereum 2.0 has a chance to maintain its leadership due to the massive migration of applications and projects to the updated network. However, success will depend on how quickly and efficiently the Ethereum team can implement the promised improvements. Competitors offer innovations, but Ethereum has an unshakable foundation that is hard to break. Thus, the question “Is there a chance?” remains open – it all depends on how quickly the network adapts to modern challenges.

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Solana: The ultra-fast platform

Solana is a blockchain focused on providing high transaction speeds and low fees. It utilizes a unique Proof of History (PoH) consensus mechanism that allows for significantly faster transaction processing. PoH is a cryptographic mechanism that places timestamps on transactions and helps speed up the validation process.

Solana benefits:

• Transaction speed: Solana is capable of processing up to 65,000 transactions per second (TPS), which is significantly faster than most blockchains, including Ethereum. This makes it a great choice for applications that require fast processing, such as exchanges and DeFi protocols.
• Low fees: Commissions on Solana are significantly lower than Ethereum or Cardano, making this platform economically attractive to users and developers.
• Scalability: With its high speed and low costs, Solana is ideal for scalable solutions where a large number of transactions need to be processed quickly and without latency.

Cardano: A phased development strategy

Cardano is a blockchain platform known for its scientific approach and commitment to creating highly secure decentralized solutions. It uses the Ouroboros Proof of Stake (PoS) consensus mechanism, which allows it to achieve scalability while maintaining the decentralized nature of the network.

Cardano advantages:

• Transaction speed: While Cardano shows good speed performance, it does not boast the same high performance as Solana. Cardano currently processes around 250-300 transactions per second. While this speed is sufficient for most applications, it is significantly inferior to Solana.
• Smart contract support: Cardano is actively developing its smart contract functionality, and with the launch of Alonzo in 2021, the platform supports the development of dApps, which allows it to expand its use in DeFi environments.
• Low Power Consumption: One of the main advantages of Cardano is its low power consumption due to the use of the Proof of Stake algorithm. This makes the platform more resilient in terms of resistance to attacks and security.

Speed Comparison: Solana vs. Cardano

Transaction Speed:

Solana: Capable of processing up to 65,000 TPS, making it one of the fastest platforms on the market.

Cardano: Currently processes around 250-300 TPS, which is much slower than Solana but fast enough for many applications.

Consensus Mechanisms:

Solana uses Proof of History in conjunction with Proof of Stake to optimize transaction processing time.

Cardano uses Ouroboros Proof of Stake, which focuses on security and stability, but is not as fast in transaction processing as PoH.

Scalability:

Solana offers the best scalability, capable of supporting thousands of transactions per second without significant latency.

Cardano is focused on resilience and security, which also affects its ability to scale quickly. However, due to the limitations of the current consensus and network structure, Cardano is still inferior to Solana in terms of speed.

Bottom line: Who is faster?

Solana clearly leads the pack in terms of transaction speed, processing tens of thousands of transactions per second. Its unique Proof of History mechanism allows it to achieve performance that far outpaces other blockchain platforms, including Cardano.

Cardano, on the other hand, focuses on security and resilience, which somewhat limits its speed compared to Solana. Despite this, Cardano continues to evolve and provides unique opportunities for developers looking for a robust but less scalable platform.

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What is the essence of the new update?

The new update is known as Kathmandu, continuing the Tezos tradition of naming protocol versions after ancient cities. This is actually a tradition that started with protocol version 004, and so far Tezos has had protocols named Athens, Babylon, Carthage, Delphi, Edo, Florence, Granada, Hangzhou, Ithaca, and Jakarta. Kathmandu is the last of these, but far from the last because of the changing nature of the protocols used.

The protocol brought a number of new features, improvements and fixes, including things like a new version of the environment, optimistic smart contract summary packages, data availability layer, contract event logging, updated random number generation, multiple critical changes, transaction receipts, RPC changes, bug fixes, invoices, and some minor changes like fixing the round_overflow encoding name, allowing implicit accounts to delegate at boot time, and the like.

According to Tezos co-founder Kathleen Breitman, the developers really took advantage of the platform’s unique ability to seamlessly update without the need for hard forks. Developers realized early on how difficult it would be to make changes to the blockchain when every step required a hard-fork, and how risky projects become because of it.

What makes Tezos different?

Tezos was built with upgrades in mind, and now developers can make as many changes as needed without risk. There is a formal mechanism that makes this process very easy, to the point where even the Tezos consensus algorithm has been completely changed twice, in addition to adding a number of other improvements around scaling and the like. Breitman added that scaling is one of the biggest challenges in the world of blockchain technology and that most chains, including Ethereum, are still trying to find ways to deal with it.

According to her, most of these networks do not scale well, so they cannot handle a large number of transactions. This results in common problems such as congestion, rising tariffs and the like. Ultimately, the cost of using blockchain is getting higher and higher as more people start using it.

In comparison, she noted that Kathmandu is introducing new concepts and technical capabilities that make Tezos ready for more users, but also make the network very scalable and very cheap to use.

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What sets Avalanche apart is its compatibility with Ethereum, allowing decentralized applications ( dApps ) to move seamlessly between the two platforms. The Avalanche ecosystem has seen significant growth in 2021, with the number of average daily transactions increasing by 470% and its own cryptocurrency token AVAX increasing by over 3300%.

The platform’s main strengths lie in its lower fees and faster transaction speeds compared to Ethereum, as well as its ability to process around 4,500 transactions per second, depending on the subnet. This is in stark contrast to Ethereum’s throughput of less than 20 transactions per second. These features, combined with near-instantaneous transaction completion, make Avalanche a highly scalable and efficient blockchain network.

AVAX, Avalanche’s proprietary token, plays a critical role in maintaining the integrity of the network. It is used for transaction fees, network security and as the basic unit of account between the various blockchains in the Avalanche network. Avalanche’s governance model determines transaction fees and the rate of AVAX coin creation, further emphasizing its user-centric approach.

Launched in 2020, Avalanche is characterized not only by its speed and scalability, but also by its commitment to security, accessibility and affordability. As an open source project, it invites community participation, allowing anyone to review and contribute to the platform’s code, creating a collaborative and transparent environment.

How does Avalanche work?

Avalanche stands out from blockchains due to its innovative architecture and consensus mechanism, offering a multi-faceted platform that goes beyond the capabilities of typical blockchain networks.

At the heart of Avalanche’s uniqueness is the consensus mechanism, a new Proof-of-Stake (PoS) approach. This mechanism involves validators who place AVAX tokens to validate transactions. Unlike traditional PoS systems, each validator in Avalanche independently validates a transaction and then selects a small subset of other validators to reach consensus. This process continues until consensus is reached, typically in less than two seconds. This unique method allows consensus to be reached quickly while maintaining a high level of decentralization and scalability. The efficiency of the network is expected to increase as it grows.

The Avalanche architecture is characterized by the use of multiple blockchains, each performing specific functions. This division of labor between multiple chains makes Avalanche extremely efficient: it can process more than 4,500 transactions per second and complete transactions in less than two seconds.

The three main chains are:

• Exchange Chain (X-Chain) : this is the default blockchain for creating and exchanging digital assets, including AVAX’s own token.
• Contract Chain (C-Chain) : facilitates the creation and execution of smart contracts, using the Ethereum Virtual Machine for inter-chain communication.
• Platform Chain (P-Chain) : this chain coordinates validators and manages the creation and operation of sub-chains (sub-networks).

Avalanche’s ability to support subnets is another distinguishing feature. Users can run specialized chains with their own rules, similar to Polkadot parachains and Ethereum 2.0 shards. These subnets are groups of nodes that validate assigned blockchains, with all subnet validators also validating the main Avalanche network.

In addition, Avalanche boasts full compatibility with Ethereum, which increases its appeal. Tokens can be transferred from Ethereum to Avalanche using Avalanche Bridge, and Ethereum smart contracts can be deployed in Avalanche using the same code. This compatibility, combined with high transaction speed and efficiency, positions Avalanche as a versatile and powerful blockchain network for dApps, NFTs and blockchain gaming.

Avalanche’s combination of a unique consensus mechanism, multiple blockchain and sub-network capabilities, and Ethereum compatibility makes it a highly efficient, scalable and versatile blockchain platform. It is designed to effectively solve the blockchain trilemma by offering a combination of scalability, security, and decentralization.

While Avalanche demonstrates several strengths such as high transaction speeds and a robust rewards structure, it also faces challenges such as fierce competition and particular problems related to the validation mechanism. The future developments and strategies of the platform will play a crucial role in shaping its position in the blockchain sphere.

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What is Cardano

Cardano is a cryptocurrency issued on a blockchain created from scratch, working on the Proof-of-Stake (PoS) algorithm, designed for the development of smart contracts, as well as the creation of full-fledged decentralized applications dApps. Among the project’s goals: improving network scalability, interoperability, and resilience for efficient

Representatives of the project claim that it adheres to the principles of openness and transparency. All research and technical specifications that are relevant to Cardano are placed in the public domain.

History of Cardano’s creation

The project was founded by former Ethereum developers Charles Hoskinson and Jeremy Wood. In 2014, they were not in agreement with the course of development of “etherium”, so they started their own business.

In 2015, Hoskinson and Wood created Input Output Hong Kong (IOHK), which started developing Cardano. Later, as is always the case with the creation of such projects, the non-profit organization Cardano Foundation was also launched. The internal cryptocurrency ADA, which is used in the Cardano network, was named after the first programmer in history, Ada Lovelace.

On September 29, 2017, Cardano was officially launched. Trading of the token started a few days later – on October 1. Since then, the cryptocurrency has risen in value by 2,342%, although it is now trading well below historical highs – at $0.4 versus a peak of $3.1 set in the fall of 2021.

What is the Cardano roadmap (ADA)?

The Cardano Roadmap is a project development plan divided into five eras: the Byron, Shelley, Gauguin, Basset, and Voltaire eras. Each era refers to a specific functionality. Although the epochs are sequential, work on each is done in parallel – research and development often go on simultaneously.

The first epoch – “Byron”

This era is also called the foundation. With it, the first version of Cardano was launched. Users were able to buy and sell ADA cryptocurrency in a network operating on the Ouroboros consensus protocol. Also in the Byron era, the Daedalus wallet (the official desktop wallet for ADA) was launched, as well as the Yoroi wallet designed for fast transactions and everyday use.

In addition to the first technical developments, this fundamental era was associated with the creation of the Cardano community. As a result, the number of users of the project approached 500 thousand, and the cryptocurrency was represented on more than 30 exchanges.

The second era – “Shelly”

The “Shelly” era was the first steps of the project on the way to decentralization. As it evolves, more and more nodes of the Cardana network will come under community management. Another milestone is the introduction of a delegation and incentive system, rewards for steak pools and the community.

The Shelley hardfork took place on the Cardano network four years ago in July 2020. After it, users were able to deposit more ADA for steaking, and the commission to validators was also increased. Among other things, a “steaking pool” appeared on the network.

The third era – “Gauguin”

The next stage of the project’s development was the introduction of smart contracts. In September 2021, the Alonzo update was successfully integrated into the main Cardano network. It became the final part of the Goguen era, aimed at creating an ecosystem of decentralized applications in the project network.

One of the goals of this era was the creation of the Plutus programming language. In addition, the developers aimed to make launching smart contracts simple enough that financial and business experts could do it without advanced technical knowledge.

The fourth era is Basho

The Basho era is necessary to optimize the network as well as improve its scalability. Unlike other network development eras, it focuses specifically on improving the underlying performance to better support applications with increasing transaction volumes.

One key feature: the introduction of sidechains that will be interoperable with the core Cardano network to expand the blockchain’s capabilities. For example, a sidechain can be used to shift some of the load from the core network, thereby increasing its capacity. Among other things, sidechains are used for experimentation without affecting the security of the main blockchain.

The fifth epoch is “Voltaire”

Cardano is currently approaching this epoch, which is the final one according to the project roadmap. This phase aims to transform the network into an autonomous, decentralized system. In particular, the blockchain updates should result in the introduction of a new format for voting and governance actions.

The project developers themselves call the upcoming hardfork the most important for the blockchain industry. Once the update is activated, the Cardano network will move out of the hands of IOHK under the full management of community members. A treasury system will also be implemented, which will be funded by transaction fees. The collected funds will be used for the development of the network, and the community will participate in this by voting.

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