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When the market returns, memecoins will win again

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Are memecoins dead? As a big fan of utility tokens, I’d so much like a factual answer to be YES. But NO. Simply, NO…not even hard to see. While your utility tokens are wallowing in their usual daily -20%, memecoins are the only ones still putting up the numbers. Right, thousands of them are dead, you can say the same about utility coins, some of which are chilling in your wallet. Memecoin bagholders and utility token bagholders, there’s a pattern here… It’s the same thing.

The argument that memecoins ruined the market is very right. I mean, the random retail investor already lost 70% of their capital to some tokens whose name you’ll struggle to pronounce. Well, this is not why your utility coins tanked; they tanked because other holders lost patience and sold them to pursue some trendy memecoins…the project team members probably did the same.

Now that memecoins are having a hard time, they are being pronounced dead. Not even reasonable when Swasticoin ($YZY) just did 10X, and $DOPE went from zero to a $10 million market cap. The list is long, you can always see for yourself. Apart from new utility coin launches that are still enjoying their welcome from KOLs and a few thousand investors, memecoins have actually outperformed the rest of the market…in general.

So, this article is technically meant to say that memecoins are not dead and will still have a run in a healthy market. That’s it, you can stop here because the next paragraphs are only going to explain why.

Alright, why? Well, because the crypto space has been reduced to a gambling room. Every investor wants to make profits, and they want to make them as soon as possible. Another narrative, which isn’t really a fact, is that memecoins are only designed to fuel greed and have succeeded for the same reason. Altcoins achieved so much success because they were tipped as a more profitable venture, relative to Bitcoin. Remember the 2021 comparisons of Bitcoin and Altcoin Year-to-year price growths? This has played a role in the progress of Utility coins since they became a thing. The regular investor will run to what promises the most profit. In the contemporary crypto market, the cleverest investor is one who is smart enough to split their capital between memecoin, Utility Coins, and a little bit of Bitcoin.

Again, memecoins are fun, the good ones are even great…no doubt. Talk about memecoin launchers running scams; utility token development teams have also ripped investors in many cases. While this in no way supports rug pulls and other crazy misdeeds that plague memecoins, it clearly states that both categories are (almost) equally caught in wrongdoings. A popular defense for memecoins is that utility coins are not fair. 50% allocation for project team…uh.

Memecoins, when done right, create a fair distribution system for investors. In the real sense, this is hard to achieve with memecoins. Currently, it is chaos. Some of the chaos is reduced when the dev is done dumping on the investors and the community takes over and revives the project from near-death conditions. Even after that, they still need to face a lack of commitment from holders, MEVs, and the other hidden wallets belonging to the dev. It’s chaos; memecoin and utility tokens. Probably why both of them are wallowing in crashes while Bitcoin stays above $80,000.

Utility tokens, what utility? It might sound like an easy one to answer, but taking a look at 95% of utility tokens will prove that it’s a brain-cracker. The gimmicky and sometimes non-factual whitepaper, unfair reserves for the team, unattainable roadmaps, market manipulation, fake partnerships, and insider trading. I think utility tokens have had their fair share of irregularities… if we are being fair.

When the market returns, the casinos will be open again…they never really closed. This time, maybe even more. If you think retail learned their lessons, wait until the next ‘celebrity’ drops their memecoin. For utility coins, the good projects will win, regardless. And no, I don’t have any suggestions of good projects to invest in; I wouldn’t be 90% down if I did.

Well…

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28/03/2025
Simons CAT: The Billion-dollar CAT memecoin
“Every good meme deserves a Billion”. Not sure where I saw that quote, but there is a good theory behind it, and regardless of your reservations about memecoins, they represent some of the core crypto and blockchain cultures – fair launches and community-driven growth. Like Bitcoin launched as a smart contract token, they skip the part where VCs accumulate majority of the supply at massive discounts before launch.

Now, many memecoins don’t even meet these criteria and in the midst of rug-pulls and fake CTOs, even fewer memecoins meet the ‘community project’ tag. I have a handful of personal picks, my new favorite is Simon’s CAT – the buzzing memecoin project on the Binance Smart Chain (BSC).

What/Who is Simon’s CAT?

From the origin, at least 6 million people around the world love Simon’s CAT; not the memecoin, the animation series on YouTube that inspired the memecoin. Simon Tofield does great animations! And just Like Matt Furie whose ‘The Boys’ animated characters are all meme and memecoin sensations now, all of Simon’s Six CATs should follow the same route.

If you are wondering, the Simon’s CAT memecoin is genuinely endorsed by Simon’s CAT animation creators. Simons CAT was launched on the BSC network on August 22, 2024, and has matured into the network’s most active project. In its 2 month months of existence, it has garnered over 232,000 holders and hundreds of thousands of active social media followers and evangelists.

While this is not necessarily a shill, Simons CAT could be the next billion-dollar memecoin. But Billion-dollar projects are not just created, they are made. The rally up to a billion-dollar valuation and beyond is a stiff run. At $237 Million market cap at the time of writing, you’d ask why Simons CAT is a candidate for this milestone. Fine, I’ll go first…

Well, it’s a cat…obviously.

Dogs are man’s best friends, but so are cats. Simon has 6 awesome furry friends and if you think owning one cat is cool; try owning two. Cats are cool…just saying. Dogs dominate the animal-themed memecoin category; several billion-dollar dog coins, but cats are making a statement and could be the next breakout memecoin narrative. Unlike the ubiquitous dog memecoins, only two noteworthy CAT coins exist to date Simon’s CAT and MEW (Cats in a Dog’s World). Cats will vie for a share of the attention on animal-themed memecoins and only two projects are well positioned for the lion share. This is the new meta…

It is the Biggest memecoin on the Binance Smart Chain.

Every reputable blockchain network deserves a billion-dollar memecoin. Top networks like Ethereum and Solana have several memecoins valued over a Billion dollars and even more valued close to this. BSC is unarguably a tier-one blockchain network and is yet to produce a billion-dollar memecoin. If you need a conspiracy theory, then this is one. Technically not reasonable that BSC is yet to host a top-ranked memecoin project. Simon’s CAT takes the lead, it practically revived community-driven projects on the network. Considering how Coinbase supports projects on the Base network, CAT could be the next project on Binance’s radar. The listing on Binance Futures might just be a start. Binance supports, cool cats…

Ok, the memes are great.

Yeah, what else would you want from a memecoin project? Utility? Nah, the memes are great and the community is loud. That’s all it takes to go to the moon. Over 6 million people like the Simon’s CAT animated series enough to subscribe to the YouTube page, now imagine 6 Million and more investors liking the memecoin in the same way, that’s about thirty more than there currently are. Whether that happens or not, the memes are great!

Cult Followership

The cult culture is forming on Simons CAT. A little gaze shows that. Cults are the giga-brains behind top memecoins. The Simons CAT community is growing with hundreds and thousands of members who simply can’t stop talking about their project and investors who simply can’t stop throwing money into the project. With a potential interest from memecoiners on other networks, this exclusive brand of community members is set to expand and the CAT cult could be one of the most vicious yet!

Relevant partnership and support

Simons CAT was recently listed on Binance futures, despite not being on the spot exchange and any relevant tier-one exchange. OKX exchange listed the asset briefly after the Binance futures listing. In addition, the project has received shout-outs from key opinion leaders and memecoin influencers. KOLs are handy for projects looking to build a community, Simons CAT is on the books of some of the most popular memecoin influencers, this is an ingredient for rapid community growth. With the support of other reputable projects and industry leaders, the Simons CAT rally to a billion might just be a distance away.

Industry dominance

Simons CAT carves a niche for itself, it takes a shape only very few memecoins can boast of. By turning a world-class animation into a thriving meme, it dominates another meta not usually talked about. From its own niche, it is spreading and striving for dominance in the memecoin sector. First, the Cat memecoin sector and then the memecoin category as a whole, Simons CAT is moving up the ranks. A new industry favorite could be brewing…

Building a case for a rally: Summary of thesis for a billion-dollar valuation.
- Genuine IP rights for the original Simon’s CAT series.
- Enthusiastic community with a cult culture and an addicted team
- Recognition by Binance and industry leaders
- Relatively young market (only a few tier-one exchanges have listed the project yet)
- Again…it’s a cool cat!
Should I buy a $CAT?

The pet? Yes! This memecoin? Well, this article discusses Simons CAT positively, but the crypto market is an aggressively volatile market, therefore, every financial advice should be taken with a pinch of salt, and this is not financial advice. Every genuine memecoiner sees value in community and insane communities make successful memecoin projects. Simon’s CAT community and the leading team tick that box. We reflected on the possible catalysts for a positive price development in the short and long term, however, they are plain theories and should only make up a part of an investor’s personal research process. Always base your investments on proper research and invest according to your risk tolerance levels.

Note that there could be several memecoins with the same name. This article discusses the original Simon’s CAT memecoin on Binance Smart Chain. Contract address: 0x6894cde390a3f51155ea41ed24a33a4827d3063d

Closing up…

The memecoin wave is turning into a supercycle. The next project to go from a few hundred million to a billion and higher is probably a memecoin. Like a gambler in a casino, my cards are on Simon’s CAT for the reasons discussed in this article. Going by the fundamentals for memecoins, it’s a no-brainer. However, a low-risk way to get involved is to be a part of a thriving community, like the one behind Simon’s CAT. As the biggest memecoin project on the BSC network, $CAT packs a punch for sure as it easily gains the attention of a large stream of investors.

Retail is watching closely and memecoins are built for retail. In recent times, we have seen just how enormous this could be. Simon’s CAT has what it takes to be the next breakout memecoin project and with the community’s spirit staying high, it might only be a matter of time!

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30/10/2024
Crypto thrives on incentives, not utility

A $1000 crypto airdrop or another interesting decentralized solution (that really works)? Well, I’m not trying to guess your preferences but you’re more likely to choose the latter if you are from the crypto class of 2017 and older. Anything younger than that; that $1000 cashout is getting picked over anything else.

The crypto space grew faster post-2017 and if you ever wondered why, the answer is that projects finally hacked the major interest of people in this space…just like any other space where the possibility of getting rich is offered. I’ve accidentally qualified for a handful of earndrops and airdrops; Forth, Arbitrum, Celestia, and some I didn’t even bother claiming due to the ridiculous gas fees on the Ethereum blockchain. While I consider these a reward for genuine interest in projects, this is not the case for the millions of ‘crypto enthusiasts’ and ‘cutting-edge projects’ who have capitalized on the craving for free money. But before I start another paragraph, this is just one of my many rants that no one (should) care about. Don’t forget to farm your airdrop, regardless of what I say next.

But yeah, I assessed the daily activity charts of many L2 projects and testnets for L1 projects and noticed a similarity with that of a usual memecoin that an African ‘dev’ rug-pulled and is struggling to recover. Peak user activity before the airdrop and then everyone moves to the next hotspot. But that’s fine because the project team already capitalized on the ‘Two million’ active wallets. These stats get lost after launch, the reason…doesn’t fit the context of this piece.

Thousands of projects fill the crypto space, 70% didn’t exist before 2017 when even mind-blowing technologies got lost in the midst of hundreds of other high-tech decentralized solutions. Even Dogecoin – the only surviving memecoin of this era debuted some reasonable technology; one that a ‘dev’ can’t crash after an hour. But projects from this era get overshadowed by comparatively inferior new projects. Even with the bulkiness and high cost, original Ethereum DApps still score above alternatives on other new-generation networks in terms of request delivery.

Crypto has penetrated every sector that can run on the internet; Payment, AI, routine finance, health, and geography. In any case, these projects gain quick users, the popular belief is that this is driven by utility. Well, not so true when 90% wouldn’t bother about sticking to the traditional method if these ‘decentralized solutions’ aren’t laden with ‘get rich quick’ kind of promises. The user activity stats on decentralized social platforms compared with the reward value over time prove that everyone will be fine with Facebook and Twitter if these platforms don’t promise to pay them for drinking coffee.

Crypto thrives on incentives, just like any other similar system. Only issue is; these decentralized solutions couldn’t care less about delivering well-functioning applications when a community allocation in their tokenomics is enough to lure millions of users; despite the hardships of using these applications. Can blame users, everyone wants to get paid for being alive and these projects do it perfectly. One airdrop after the other and even more routine rewards. Every project leads with a token before the real product. As long as something is promised, users will flock. Rinse repeat.

If an incentive was attached to writing these rants, I’d have done more of it, but that’s not the case. So, it comes once in a while. Maybe when Bitcoin hits $80K I’ll work on the next edition of Snack Talk…if it does. To close this one out, it will be cool if projects focus on genuine utility and plausible UX.

08/05/2024
Snack Talk: The Steak

25 years is not exactly fitting for an $8 billion fraud, but the justice system is a ‘god’ figure and has a very little history of being queried successfully. The Luna guy is still being shipped through prisons; we might have a prison break soon. Wonder how many memecoins we’ll be getting from these stories? Should be a lot.

I’m taking some time off to add one more episode to this series and it’s not because the steak tastes nice…well, maybe; but it’s been a while since the last one. There’s been a few notable events since then; like Bitcoin reaching new ATH and memecoins shitting on ‘blue chip’ utility coins. This could change when the AI wave returns. But before that happens, enjoy seeing a new dog stuff in the top 50 ranks when you open your Coingecko application.

About a week to another Bitcoin halving, last time it happened, we had some miners closing up their mines and moving on to ‘better things in life’. Well, they came running back when Bitcoin did that price bump thing. This time might be different, it is the healthiest I’ve seen Bitcoin before a halving. Almost 6X up from the previous halving. We’ve had at least 20X scams and 200X rug pulls since then, but the ‘investors’ greed is still at ATH. That might help push this thing to $250k and you’d be able to pay off the lease for your Lambo.

The light is all on Bitcoin, but some other guys will be halving too, BSH, LTC…and BSV. Still a fan of Mr. Wright. A real comedian, that one. If the Boomers and Millennials at Blackrock don’t buy up all the Bitcoins, then retail could still feast on the debris this year. It might be the other way around since this space has been overtaken by Wolves. They went from memecoin rug pulls to pre-sales, that’s just a simple evolution.

Not sure how long I could go without mentioning the lifeblood of the current crypto space – Airdrop Hunters! It’s been quite a year for anyone in that hustle. Tons of ‘projects’ launching with an airdrop taking the lead. And yeah, the earndrops. Those ones are the real money mines, but not really for the hunters. You could simply launch anything with incredible liquidity and Market Value. Just make sure you grease the palms of the airdrop hunters, sorry, community. And community is everything…I think so.

I’ve got a ton of respect for the real builders in the space, the ones working hard to create new narratives that will be eventually overtaken by scammers and memecoiners who are still a subset of the former. The real competition in proliferation is between memecoins and ‘AI-powered’ projects. ChatGPT is probably the most forked or ‘leveraged’ codebase since Sam and his friends announced it. We could see something similar when DePins and RWAs hit the ground running.

Anyway, very excited about the Fetch.AI, AGIX, and OCEAN merger. In a space where everyone is launching pieces of mediocre projects, it is a breath of fresh air to see three reputable projects come together to build something that could actually help. Decentralized AI is the way to go and this is just the right time to make such moves. ASI has all it takes to be a leading figure in the crypto and mainstream AI space. No pun intended, super excited for this one!

Well, it’s almost 600 words and this rambling is meant to be 600 words long maximum. But the steak doesn’t taste bad. Even if it does, the cost is something to consider. Might be a while before the next episode drops. But there’s been like five already, you can binge-read till the next one. Probably when Bitcoin hits $100K…if it does.

12/04/2024
Nervos CKB leads the Bitcoin renaissance with its Bitcoin Layer-2 technology

The primary role of the Bitcoin blockchain is to operate as a giant network for the transfer of value. The Bitcoin cryptocurrency controls the value system on the network. For a technology at the level of adoption it had in its earliest days; a 7 Transaction per second was in fact a sufficient throughput. Considering the value per coin of Bitcoin at this time, the transaction fee was also considerably cheap, compared to other payment systems in existence.

Bitcoin’s current user experience, Utility, and performance issue is a case of poor scalability. The Bitcoin network was ‘perfect’ for its early-day scenarios. But this has been torn away by the rapid adoption and growth in the price of Bitcoin. Thanks to its superstructure design model, scaling the Bitcoin blockchain is a perilous attempt. However, Bitcoin Scaling solutions like Nervos CKB are weathering this storm.

Nervos CKB blockchain is lined with features that are capable of operating complementarily with the Bitcoin blockchain and also functioning as a sovereign blockchain network. Nervos has seen significant success in both areas.

What is Nervous CKB?

Like the Bitcoin blockchain, Nervos CKB is a public blockchain built for P2P transfer of value. It extends Bitcoin’s UTXO model to develop the Cell model – a decentralized asset management design that uses a lock and type script to handle asset transfers. The Cell model and the UTXO model are similar in the sense that they create a First-class asset system, placing user assets as the primary subject in blockchain transactions. This is in contrast to the account model where assets are just part of a system.

Nervous CKB operates a double-layer structure. The CKB layer serves as the consensus layer for the Computation layer. The Nervos CKB VM controls the network state. The CKM VM is blockchain-agnostic. It is capable of running different virtual machine designs, smart contracts, and adapting to the operational model of several blockchain models.

Nervos CKB is designed with unique high flexibility to allow it to fit diverse use cases. As a standalone network, Nervos runs a consensus system that processes state change data from its computation layer. The computation layer can relay states generated from external systems to the CKB (Common Knowledge Base). These systems could be state channels, internet applications, or external networks.

Nervos CKB: Leading the Charge for a Better Bitcoin

Nervous CKB’s multi-layer structure makes for a dynamic system, the verification layer controls the consensus and custody system while the generation layer is built for interoperability, high throughput, and privacy. This architecture, in synergy with the CKB VM (Virtual Machine), presents a highly modular structure for the building of extensive applications for public blockchain utility. The Cell model operates within the verification layer, using the Type and Script lock to ensure that assets are transferred securely and also prevent double-spending. With a globalized state, CKB creates a scenario where a blockchain’s state can be handled through diverse means. This design enables it to fit numerous use cases as an autonomous network and an on-chain scaling solution for the Bitcoin network.

Leading the Bitcoin renaissance, Nervos CKB is committed to developing utilities that can be leveraged by Bitcoin blockchain developers and users.

First, Nervos CKB is a layer for the development of highly advanced payment channel networks (PCN). Nervous handles known issues of Payment Channel Networks (PCNs). The Nervos CKB’s Cell model is complementary to Bitcoin’s UTXO model. It inherits the advantages of a first-class asset cryptographic transaction model. The CKB VM’s Turing-complete design and the computation layer’s relationship with external systems make a case for interoperability between the Nervos CKB, other blockchain networks, and web2 systems. These features allow Payment Channel Networks significant freedom in running smart contracts and integrating a multi-token payment channel. Unlike off-chain state channels like the Bitcoin Lightning Network, Nervos CKB also enables users in a state channel to execute transactions to users who are not linked to the channel.

Not just Bitcoin-based PCNs, Nervos is scaling the Bitcoin network itself; here’s how.

By design, CKB is built to synapse with external systems. Using this ability, the Nervos team is extending the CKB to improve the Bitcoin blockchain. As part of this effort, the computation layer will develop a connection with Bitcoin to stream state data to the CKB. To achieve this, Nervos is using an improved version of the RGB protocol – RGB++.

RGB (Really Good Bitcoin) protocol is built to enable Bitcoin lightning network users to run automated transactions using one-time smart contracts. RGB protocol users can also issue tokens. But RGB protocol has a few bottlenecks; these issues are related to the generation of transaction proof, smart contract ownership, and its heavy reliance on a P2P network for propagation.

As a fix, RGB++ Protocol will implement the Uniform Isomeric Binding (UIB) technology as proposed by Cipher Wang. The UIB technology will enable a point-to-point mapping of the Bitcoin UTXO with the CKB Cell model to create a stable connection with the states of both networks. This way, Bitcoin and CKB can share resources including network assets (like Bitcoin) without bridges.

With its overall architecture put into active use, Nervos is building Web5; a fusion of Web3 and Web2. The computation layer creates a channel for communication with decentralized and centralized networks while the CKB creates an immutable store for validated states from these systems. CKB expands the use cases of Bitcoin without the need for 2-way peg intermediaries. It is building the next evolutionary stage of the Bitcoin network.

Compared to other BTC L2s, CKB is more decentralized/secure (POW consensus) and ecosystem compatible – CKB has similar data structure as it’s based on an extension of Bitcoin’s UTXO and similar UX because users can use Bitcoin addresses and wallets to access CKB (native account abstraction).

The key components of the “BTCKB” initiative:

1. RGB++, a new Bitcoin asset standard launched – https://x.com/ckbcell/status/1775663331434520819?s=20

2. UTXO stack, a Bitcoin L2 platform – https://cointelegraph.com/press-releases/utxo-stack-pioneering-bitcoin-layer2-solution-secures-major-seed-funding

3.The team is also working on “CKB lightning” to connect pieces together. – https://blog.cryptape.com/payment-channel-networks-on-utxo-blockchains

The Nervos CKB token (CKB)

CKB is the utility token of the Nervos CKB blockchain and is issued as a representation of one byte of storage data on the CKB. One CKB = one byte of CKB data. CKB holders have storage rights relative to the amount of tokens they hold. As the native token on the network, fees for transactions on Nervos are paid in $CKB.

Tokenomics

The total supply of CKB is pegged at 33.6 Billion. CKB halves every four years, reducing emissions through miner rewards. However, an uncapped secondary emission also contributes to the token supply swell. CKB can be purchased on Top-tier exchanges including Binance, gate exchange, and MEXC.

Closing Thoughts

If Bitcoin must transcend the sole purpose of P2P transactions, then it needs an enhancement. Even as a network for the transfer of value only, it still faces a performance and cost-effectiveness issue. With Bitcoin’s price rising steadily alongside the adoption rate, the network could become unusable as these metrics grow. Nervos and other Bitcoin L2 solutions are vital to the continuity of the Bitcoin blockchain as a public network. Nervos presents a complete scaling solution for the Bitcoin blockchain, one that can interoperate with other Bitcoin layer-2 networks, a wide range of Virtual Machines, and even web2 systems. As the project continues to expand its reach and improve its technology, we could see a diverse adoption and increased utility.

Having said this, it is important to understand the risks involved in cryptocurrency investments. Also, note that this article is only for educational purposes and not financial advice. Always do your research.

08/04/2024
Top 5 Bitcoin Layer-2 projects in 2024

Bitcoin Layer-2 projects are not just an attempt to scale the performance of the Bitcoin blockchain, but also an attempt to scale the utility of the Bitcoin network. Unlike the Ethereum blockchain which runs a programmable layer, the Bitcoin blockchain is stuck in its primary utility as a P2P payment solution. This in addition to its snail-speed efficiency makes it an archaic network. L2 projects are adopting different approaches to salvage the network and put its rigid security and decentralization facility into more use.

But what are Bitcoin Layer-2 networks?

What are Bitcoin Layer-2 networks?

Bitcoin Layer-2 attempts to run an execution environment away from the Bitcoin network while contracting the Bitcoin Network’s consensus for the final computation of the transactions. By running a separate execution environment, Bitcoin layer-2 networks are able to implement diverse technologies to improve performance and overall user experience while allowing the Bitcoin coin and Network to be used in advanced activities like Decentralized Finance (DeFi).

An overview of how Bitcoin Layer-2 projects work

The blockchain is a rigid system. Even new-generation blockchains inherit this rigidity. This means that making significant changes to a blockchain network involves rigorous work-throughs. Direct and simple modifications are hardly possible. Bitcoin in its normal state cannot be easily modified to add a programmable layer or improve its speed. To this effect, Bitcoin Layer-2 projects are approaching the network’s scalability in different ways.

However, the basic approach is the creation of a stable connection with the Bitcoin network. A connection that at least, allows assets to be moved between the networks. Other Layer-2 networks attempt to achieve even more extensive connections by adopting the Bitcoin network as a settlement layer for transactions. L2 projects like this run an execution environment only and use the Bitcoin consensus layer to verify these transactions and record them in an immutable network. This way, they enjoy security and decentralization close the that of the Bitcoin blockchain.

Bitcoin Layer-2 projects are growing in Headcount. However, a few of them stands out

Top Bitcoin Layer-2 projects in 2024

Nervos CKB Blockchain – Secure and Scalable Layer for Bitcoin Blockchain

Nervos is building a multi-layer programmable network for the Bitcoin blockchain. Nervos’ Bitcoin Layer-2, namely Common Knowledge Base (CKB) blockchain, hopes to connect the Bitcoin blockchain’s UTXO model with its Cell model to create a stable communication path for both networks and allow copies of transactions on each network to be transferable between them. CKB leverages, RGB++ protocol, an improvement of the RGB protocol focused on solving the bottlenecks of the latter. CKB will create a stable fusion with the Bitcoin network and its network using the Universal Isomeric Binding (UIB) algorithm proposed by Cipher Wang to map the UTXO assets on the Bitcoin blockchain to the Cells in the Nervos Common Knowledge Base (CKB). The Cell is itself an extension of Bitcoin’s UTXO model.

With its programmable layer, Nervos will create a 2-way peg with the Bitcoin blockchain, allowing efficient communication. On this layer, Nervos Network will build extra layers to allow properties like privacy and scalability, all these without contacting the Bitcoin blockchain in every instance. This allows it to achieve higher efficiency by eliminating hindrances from the consensus layer of the Bitcoin blockchain. CKB is built to advance every progress made in scaling the Bitcoin blockchain to date. It is dubbed Web5 as it creates a synergy between Web3 and Web2.

Stacks Network – Bitcoin sidechain powered by Proof of Transfer algorithm

Stacks Network is a Side chain for the Bitcoin Blockchain capable of running smart contract applications. It runs the Proof of Transfer (POX) consensus algorithm that enables it to lobby miners on the Bitcoin Blockchain to validate transactions performed on its network. This way, Stacks network taps from Bitcoin’s sufficient pool of miners and strengthens its network. Stacks also runs a peg-in and Peg-out protocol that enable Bitcoin holders to port their Bitcoin to the Stacks network. On Stacks network, holders are able to use their Bitcoin on decentralized applications. The Peg-in and Peg-out protocol uses smart contracts deployed on both networks to handle the lock and release on Bitcoin on the Bitcoin network and minting and burning of the Bitcoin token on the Stacks network.

Bitcoin Lightning network – State channel for enhanced P2P Bitcoin transactions

The Lightning Network is a state channel for the Bitcoin Network. It creates an offline portal for two parties to transact using Bitcoin. For every set of users using the Lightning network, a separate portal is created. Each party can deposit Bitcoin to this channel and run simultaneous transactions using the deposited Bitcoin. For each new transaction performed on the channel, a new state is created, overriding the previous state. At the end of the transaction, this channel is closed and the final state is sent to the Bitcoin blockchain for final validation.

By operating away from the Bitcoin blockchain, the Lightning network is able to achieve tremendous speed. The final state is sent to the Bitcoin Network as a single transaction; therefore, the users only pay a single transaction cost, regardless of how many transactions they performed in a single state channel.

Liquid Network – Bitcoin Sidechain powered the Liquid Federation

Liquid network claims to offer a faster layer for transacting with Bitcoin. Final settlement time on the network is only 2 minutes. This is significant improvement from Bitcoin network’s settlement time. Liquid network runs a 2-way peg facility that allows Bitcoin holders to bridge their bitcoin to the network. Bitcoin on the Liquid network is represented as L-BTC (Liquid BTC). Liquid Network doesn’t operate via a consensus system, rather, a constituted committee handles the approval of transactions on the network.

RGB – One-time Bitcoin contracts for lightning network

RGB is an acronym for ‘Really Good Bitcoin’. It is layer-3 protocol for the Bitcoin Network. RGB allows Bitcoin lightning network users to run programmable operations. In short, it is a programmable layer for the Bitcoin lightning network. Using RGB, users can write smart contracts to handle automated payments and other activities. The RGB protocol can operate without a token, however, it can be used for tokenization projects. RGB’s operations are off the Bitcoin network, just like the lightning network, it allows users to transact with improved speed and pay little or no fees for their transactions.

A few bottlenecks of RGB include, complicated transaction sequence and the need to memorize seed phrases and transaction history to successfully store RGB assets. RGB++, an improvement of the RGB protocol will eliminate the client side verification process and uses the Nervos CKB blockchain to run 2-way validation and enable users to transact between Bitcoin and the Nervos CKB blockchain without using bridges.

Closing Thoughts

Bitcoin and the Bitcoin Blockchain are both used. A cryptocurrency, Bitcoin, in its pure form, is limited to two-way transactions between users on the network. As the most secure and decentralized blockchain network, Bitcoin’s consensus system is relegated to validating these P2P transactions. Bitcoin Layer-2 projects are changing this. Thanks to Bitcoin Layer-2 to projects like Nervos and Stacks, Bitcoin can be used in more sectors while projects like Lightning network enable users to transact faster with Bitcoin. Even more exciting is the Nervos network’s approach to scaling the Bitcoin network. A programmable layer and a united transaction model could just be the ingredients the Bitcoin blockchain needs for its next evolution. As these projects evolve, we could see even more efficient ways to scale the Bitcoin blockchain

03/04/2024
With a Historic 3.5 Million TPS, Tectum Blockchain is Launching the Fastest L1 Blockchain!

Just in case you missed it, here’s a link to Tectum blockchain speed test live stream. 3.5 Million transactions per second! While you certainly have your personal attraction for blockchain networks, but you’d hardly make a complete list without including speed, low cost, and security. Tectum ticks at least two boxes in your list of what attracts you to your favorite blockchain network.

Blockchain networks are moving from heavy, complex consensus systems to sleek layers built for some of the most efficient applications to thrive. Most ‘fast’ blockchain networks sacrifice decentralization and security to achieve an improved speed while the highly decentralized ones are significantly slow.

Tectum is changing the narrative. In what could be a milestone for blockchain networks, the Tectum network is making waves in the Testnet phase and gearing up for public launch. I could go on about how impressive the results shown in the video are, but even more impressive is how Tectum blockchain is able to achieve these results.

Here’s how Tectum works

How Tectum Blockchain Works: Proof Of Utility, ZK Proofs, memory-friendly data storage…

In the speed test program, the Tectum team streamed over 50 million transactions through the network via testnet TET token and SoftNote transactions. 8 nodes completed the validation of these transactions in less than 15 minutes. Each node processed at least 500,000 transactions.

Tectum uses the novel Proof of Utility (POU) consensus mechanism to validate transactions generated on the network and stores only hashes of these transactions instead of the whole data. This way, it is able to achieve incredible TPS and a lightweight network respectively, allowing easy sync and overall improved user experience.

Proof of Utility is an improvement of the relatively more popular POW (Proof of Work) consensus. It prioritizes verified contributions in a distributed network of nodes. Nodes on the network are rewarded according to their contribution to the network. Here, the goal is not to solve a complex mathematical solution to generate a proof but to make the most contributions to the network.

Contributions to the network include bandwidth, storage, and computing. Each contribution increases a node’s PoU scores and the decision-making weight. This is analogous to computing power and staked value on the network on POW and POS consensus mechanisms. Proof of Utility tasks nodes with roles and contributions, keeping everyone active and the network running. The network’s performance and security improve with each node that joins the network.

Records of these transactions are stored in hashes that reference the complete transaction data. This keeps the network at a minimal weight and scalable.

Tectum Ecosystem

Gearing up for public launch, Tectum is growing an ecosystem of utilities. The Tectum blockchain and the $TET token will nurture a new sphere built for applications to thrive while the Tectum team also diversifies into other applications.

Utilities being developed for the Tectum project include;

Tectum Network Explorer: The Tectum Explorer is an analytics tool for Tectum network users. Users can access complete network, transaction, and account data by simply querying the explorer.

Tectum SoftNote Wallet: Tectum Wallet is a self-custody application that allows users to manage TET tokens and other crypto assets. Tectum Wallet offers cheaper transaction fees and instant competition by leveraging the power of the lightning-fast Tectum blockchain.

Tectum Interactive Assistant (TIA): TIA is an AI-powered information bank for the Tectum project. You can obtain accurate information about any of Tectum’s products by querying the TIA Telegram bot. Try it now

SoftNote and SoftNote Bills: Tectum SoftNote offers a faster and more private way to spend Bitcoin. SoftNtnote leverages the Tectum Bitcoin node and overlay network to facilitate on-chain transfers with low fees and fast transaction times.

X-factor Authenticator: Tectum’s X-factor authenticator is a flexible, scalable, and completely secure quantum-proof three-factor authentication protocol developed by Tectum for user account authentication.

Tectum Vs Other Blockchains

With a projected 3.5 million TPS and low block weight, here’s how Tectum compares with other blockchain networks

Getting Involved with Tectum Blockchain

Tectum is advancing blockchain throughput. Get involved in the next evolution of blockchain networks. The Tectum testnet is up and running. Blockchain Enthusiasts are invited to contribute to the testing phase.

Join the Testnet program for the Tectum blockchain.

You can also participate in the ambassador program and spread the word about Tectum’s superfast network and the Tectum SoftNote.

Sign up for the Tectum Ambassador program.

Follow the project on Twitter

Closing Thoughts

If the blockchain is ever going to meet the growing demands for the applications that are built on it and the blockchain itself, then it must be able to scale its throughput to an infinite level. With 3.5 Million TPS, Tectum is a few steps away from winning the speed challenge for L1 and L2 blockchain networks.

This, in addition to a privacy layer and a strategy that trims the blockchain to its barest weight, could set it apart from competitors. Most importantly, this network could complement other networks to deliver a hub of blockchains interoperating to leverage this super-fast layer. As Tectum prepares for public launch, it will be interesting to see what will be built on its ecosystem which is already growing.

20/03/2024
Minor updates to the Medium publication

The CryptocurrencyScripts Medium publication has been running for only about 10 months. During this time, we’ve been able to onboard several talented cryptocurrency writers and have grown significantly as a publication. However, this is not one of those cooperate press releases, so we will go straight to the point.

We are adding two minor updates to the publication’s layout and would like to inform our community of these updates. Feedback on new and existing features is welcomed!

A Feature page for Curated articles

An average of 30 new articles are submitted to our publication per week, this figure will surely grow in the future. To promote the most impressive articles from the daily submissions, we have added a feature page for handpicked articles. Curated articles will also be shared on social platforms. This is in line with our goal of adding value to writers who submit to our publication.

To access this page, Click Curated Articles on the publication’s Homepage.

Want to submit your articles to our publication? Read this article for more information.

Promotion tabs for Ads

At the time this announcement was made, the CryptocurrencyScripts publication receive over 15,000 views in 30 days and readers spend over 20,000 minutes reading articles submitted to the publication in a month.

With this figure, your project could benefit greatly from running an Ad on our homepage. We are reviewing this feature to ensure mutual benefits for readers and projects running Ads. There could be major changes to this in the future. This will be promptly communicated.

Contact us on Twitter or any of our outlets to Place an Ad.

Yeah, this was meant to be a short one. The CryptocurrencyScripts publication and the project as a whole is a work in progress and the main focus is on the readers and writers. New and existing features will be adjusted to stay in congruence with this goal.

Happy reading!

04/03/2024
What is pump and dump in crypto and how does it work?

Pump and dumps are coordinated manipulation of the value of a commodity for a quick rise followed by a sharp drop in the asset’s value. As the name implies, the ‘Pump’ describes a sharp price growth, while the ‘dump’ describes the following sharp drop.

Pump and Dump is a generic term, with its application cutting across every investment space. However, it has seen more relevance in digital investment spaces. Such practices are easier to effect in environments like these. Such assets include stocks and shares, precious metals, and digital currencies like Bitcoin. This article focuses on Pump and Dumps in the crypto space and how this applies to the everyday trader. First, what is pump and Dump in crypto?

What is Pump and Dump in Crypto?

Cryptocurrencies are known for their volatility. But sometimes, this volatility is influenced by artificial causes and could be followed by a sharp drop. The basic concept is sustained, but cryptocurrencies are involved this time. Pump and Dump in crypto is a common concept, for assets with low liquidity, this is even more common. Crypto pumps and dumps are coordinated and targeted towards a pre-selected crypto asset. The common goal here is a quick profit for the perpetrators. Here’s how it works

How crypto pump and dumps work

The execution of a pump and dump is straightforward,
First, a congregation of traders is built using available social media platforms, then the pump and dump selects a crypto asset and crypto exchangeto be used and communicates the schedule for the event and target price.

During the agreed time, the traders in the community proceed to make quick purchases of the selected asset, this leads to a sharp rise in the value of the asset. The rise attracts other traders to buy into the asset, which further grows the price, when the target price is reached, the traders proceed to sell the purchased asset, making profits and leaving other buyers in losses. The success of the pump and dump depends on how well the community adheres to the plan.

Another step in a pump and dump is the shilling of the asset. This usually starts after the community members have made their purchase. A coordinated dissemination of information about the asset follows. This attracts other traders to take a look at the asset which is already growing in price. This is also known as a pump signal, but it is not limited to this explanation.

What is a pump signal?

For the pump and dump community, a pump signal is a notice of the details of the pump and dump. It is an invitation to purchase the asset before the external pump signal commences. For the non-members of the community, the Pump signal is usually a shill by contracted influencers or community members. This is done by a coordinated positive evaluation of the asset, including the sudden price growth. This attracts more people to buy and grows the price further.

What are Pump and Dump groups?

Most crypto pump and dump groups use Telegram, another known social media platform used by crypto Pump and Dump groups is Discord. Depending on the popularity of the pump and dump group, each community could consist of a few hundred to thousands of traders.

The pump and dump groups consist of different tiers of members. The Admins control activities in the group, including the dissemination of information about the intended activity. The community also consists of coaches who are usually tasked with educating new members of the community’s culture. Older members are also tasked with inviting other traders to the group, this is usually rewarded with perks such as a growth in their rank. This might mean access to more information.

How to detect Pump and Dumps

Due to the widespread volatility of cryptocurrencies, it is hard to differentiate a pump and dump from a genuine price jerk. However, there are a few things to look out for

Liquidity and popularity of asset

If a relatively obscure crypto asset with low liquidity suddenly starts going up massively in price. It is advised to do proper research before buying into the pump. Low liquidity and less popular assets are easy targets for pump-and-dump groups. This is because their price moves up easily.

Sudden hype

One of the ways pump and dump groups boost their profits is by shilling the target asset. If an asset suddenly starts being discussed by social media accounts and popular traders, it is also advised to do further research.

While this doesn’t guarantee it to be a pump and dump, it is one of the common characteristics of known pump and dump cases.

What are pump bots and how can they help you make profits?

The hack in pump and dump is Speed. Your ability to detect the pump, and make quick buys and quick sale is paramount to making profits in your trade. A pump bot can help you do each of these faster and with ease.

Once you obtain information about the assets to be pumped, the pump bot can help you make a quick buy and when you wish to sell, the bot can also help you make a sale. This can be done in a few seconds. Some advanced bots can be automated to make repeated buys and sales according to set algorithms.

FAQ

Are Pump and Dumps legal?

The legal provisions for pump and dumps are not clear, since it is not the same as insider trading. However, from a financial law aspect, they are illegal as artificial manipulation of community prices is illegal.

How much profit can you make from a pump and dump?

How much profit you can make from a pump and dump depends on four factors.

• Your capital
• Your point of purchase
• The Success of the pump and dump activity
• Your point of sale

You can make a substantial amount if you buy early and sell before the asset starts to dump.

Is it possible to join a pump and dump group?

Yes, however, this might depend on the community structure. Some Pump and Dump groups are public while some are strictly based on invitation.

Conclusion

Pump and dump is a turbulent way to make profits. while this can be rewarding, it also has its risks. One of the risks is being trapped when the asset dumps. Traders who fail to take profit before the pump even ends could run into losses. Therefore, it is important to do proper research and invest wisely |

05/02/2024
Snack Talk: The Green Tea

Green Tea doesn’t always taste nice and this might be reflected in this episode. Picking it for this episode was so random, but that’s just how the whole crypto space is. We were promised a bullrun immediately the Bitcoin ETFs are approved. Not all promises get satisfied, and this one has successfully joined the list. I mean; I already planned my first payment on a gently used 2001 Honda Civic, but by the look of things, I might just get a 1998 Panda. Now I said that with much positivity. Considering that Grayscale still has thousands of GBTC waiting to be sold, the public bus service might still be all I have. I had to personalize this because anyone shorting the hell out of the whole space should be on that Lambo dream.

Alright, shake that off, we might still get the Bulls this year. It’s a halving year and some guys just made over $100 million from that XRP hack. If they put all the money in memecoins, we might just get many 100Xs and subsequently a bullrun. Dare to dream, huh? I’d get a Lambo before anything else, but I’m far from being a hacker.

The Super Bowl is just around the corner, the last time it happened, every ‘big’ crypto firm was all over the place. Safe to say we funded the Super Bowl that year. Coinbase, FTX, Crypto.com…even the Super Bowl committee must be mouth-gaped at how much money these ‘internet coin’ guys can cough out for a 4-minute advert. But that was before they learned that we buy naming rights to sports centers. No pun intended but you’d expect things to go left after all the rights we bought. This time will be different though, or I hope so.

For the third time in history, memecoins could rule another bullrun. The narratives will even be funnier this time. The good thing is, the NFT scams in the name of memecoins might not work this time. Good news, right? The rug pulls will still continue. And airdrop farmers couldn’t care less about a bullrun, it’s always raining free money in their space and every testnet can boast of hitting one million farmers…sorry users; within a month. Good to see how much difference the thoughts of making a couple of free hundreds could make for a project. A silver lining is the fact that projects are substituting private sales with the initial liquidity provided by the airdrop hype. Anyhow that money is made.

Heard the American government is selling off that Silk Road Bitcoin. Everyone seems to be hunting for that crypto money lately. Not sure what they intend to do with the money, but whenever anyone sells crypto for fiat, that Lambo dream comes to mind. The German government is seizing crypto too, this is what mass adoption looks like! The good news for this paragraph? FTX might just give you back all the money you kept on their platform before they closed the doors on everyone. Considering the amount of Bitcoin they dumped on the market recently, this should be doable.

DePIN, AI, fit in any other crypto narrative you have in mind. We are really advancing in technological terms. The surprising thing is how these projects have been in existence for years and just pick up pace when these narratives are carried by influencers. This why I hold memecoins in high esteem, they have been here for years (well, not most of them) and have managed to be a booming narrative throughout this time, especially the dog-themed ones. Not a huge fan of dogs but if that memecoin will bring in the 100X then we all love dogs. The higher the MC, the more loveable the dog breed becomes.

Alright, just to end this long screaming and go back to something more beneficial to society, I’d have loved to put some words in for everyone hustling for the Lambo money. But since Elon Musk called crypto a ‘hustle’ on SNL, things have never been the same. So, whether we go to the moon or remain here with the stars, it is important to have a place in your heart for the real technology and the real builders in this space…like Vitalik when he’s not on a Fashion show. True nerd, that one. Five more of that and we could be three steps closer to the Satoshi vision. But it’s fine, we are still good with all the Ben Armstrongs we have now. And Ben is ending his infamous crypto livestream. The only outcome is more enterprises like this rising to fame. All good, y’all stay safe.

Follow up with CRYPTOCURRENCY SCRIPTS to stay refreshed in the crypto space with comprehensive articles and important tips.

02/02/2024