The world of Fintech is continuously growing, so naturally, that means the technology part of the industry is continuously growing too. Every year something new and exciting develops from crypto thanks to its ever-evolving nature and the hard work of the teams behind them, but it’s also thanks to the blockchain.
The blockchain is everything, and it’s important to know exactly which projects play a large role in improving it. This article will talk about how the tech implemented by top cryptos Ethereum (ETH) and Polkadot (DOT) contributes to this, as well as how new 2023 cryptos like DogeMiyagi (MIYAGI) take part in that too.
Ethereum and Polkadot Push The Blockchain Past Its Limits
Both of these top crypto platforms are similar in various ways, which is likely part of the reason they’ve been part of many different ground-breaking changes in crypto tech. Ethereum is the biggest blockchain network in the world and hosts the second biggest crypto on the market, with Ether coming after Bitcoin alone in market cap.
Something tech-related that sets Ethereum apart from the many Layer-1 networks that have arisen in order to compete with it, is its Ethereum Virtual Machine or EVM. The EVM, at its core, is a runtime environment that executes smart contracts, acting similarly to a virtual sandbox where developers can use state-of-the-art functions to develop the best decentralized applications. The smart contracts are written with a programming language called Solidity. Solidity is like a versatile tool that allows developers to craft intricate smart contracts with all sorts of fancy features.
Polkadot is similarly a blockchain platform, though unlike Ethereum, which acts as a host to protocols and other cryptos, Polkadot works as a hub that connects otherwise incompatible networks together, allowing users to perform transactions and transfer their assets across in a secure manner without any loss of speed or data. Instead of relying on a single chain, Polkadot connects multiple specialized blockchains called parachains.
At the heart of Polkadot’s brilliance lies the relay chain. The relay chain maintains consensus and provides security for the entire Polkadot ecosystem. It’s like the gatekeeper of a secret garden, ensuring that everything runs smoothly and securely. Polkadot also brings a magical touch of interoperability to the table. It allows parachains to communicate and share data with ease, creating a harmonious symphony of blockchain connectivity.
DogeMiyagi Breaks The Ground With a Karate Kick
While meme coin newcomer DogeMiyagi isn’t as blockchain-related as Ethereum and Polkdaot, they are still connected on a level that is encouraging much of the support this project is currently receiving despite still being in early presale. You see, it’s more than just another meme coin. The platform is directly connected to Ethereum as it is powered by it, meaning it reaps all the benefits that come from Ethereum’s technology. Everything outlined in its future, from the huge 5 stage token burn to the planned NFT marketplace, will be established using the best of the blockchain abilities.
DogeMiyagi is also much more than that. As Ethereum moves away from the PoW consensus that many older cryptos were built on, such as Bitcoin (BTC) itself, the coins hosted on its network will use the environmentally friendly PoS consensus too, which of course, means DogeMiyagi will also. On top of that, the platform will launch its own Killer Swap Machine, which will allow the community to swap their cryptos without any unnecessary go-betweens.
The blockchain will continue to evolve, and alongside it, the technology that allows it to run in the first place. It will rapidly integrate itself with our day-to-day lives, and crypto will continue to become a norm encountered by us all, regardless of any interest you may have in the market itself. With that in mind, it only makes sense to invest in the projects that are pushing this change, as well as ones like DogeMiyagi that will benefit from it the most.
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Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.