Despite the recent bearish crypto market, people are still trying to find different ways to diversify their portfolios. With the market being so oversaturated, it can be hard to decide where to invest your hard-earned money. Cryptocurrencies have grown significantly in their branding due to the popularisation of mascots and functional capabilities that is permitted by blockchain technology.
Two blockchain networks that have maintained a solid reputation for their market capitalisation are Ethereum (ETH) and Solana (SOL) - both being well known for having distinct functions. However, there is an upcoming crypto project that has been discussed amongst enthusiasts, and that is Mehracki (MKI). But does this new crypto have the capability to reach heights similar to Solana and Ethereum?
Mehracki (MKI) - A New Take on Meme Coins
One of the main reasons that Mehracki (MKI) has been heavily discussed amongst crypto enthusiasts is due to its real-world capabilities. Its name derives from the Greek word ‘Meraki’, a term used to describe doing something with a sense of creativity and love. Their inclusion of the letters ‘h’ and ‘r’ in Mehracki was done to distinguish itself from the original word.
The upcoming crypto project describes itself as a community-driven meme token to create a system where active MKI holders can be responsible for the direction of the platform. This allows users to send proposals for changes in the operation and vote for the decisions to be made on Mehracki.
Mehracki is run under the Solana ecosystem - having a unique utilitarian model that permits the authentication of transactions in the ecosystem. MKI is a token that also serves as a unitary value exchange between hospitality businesses and customers.
With the network focusing on the tourism and hospitality industries, it provides users with a much more luxurious experience. According to an article published by U Today, these businesses will contribute to the horizontal development of the token.
Ethereum (ETH) - The Number Two In Crypto
Ethereum (ETH) is known for being the second most popular and successful cryptocurrency after Bitcoin. Its inception came in 2015, being founded by eight individuals - an unusually large number for a crypto project.
The veteran network is primarily responsible for pioneering the consensus of smart contracts in blockchain technology. Smart contracts are best described as computer programs that automatically execute the actions necessary to fulfil an agreement between multiple parties.
Its creation had the purpose of reducing the need for the involvement of an intermediary for contractors, reducing the transaction costs while also increasing reliability. In 2022, Ethereum stated its plan to move from a proof-of-work consensus to a proof-of-stake algorithm, to improve scalability and sustainability.
This transition will be known as Ethereum 2.0 and is scheduled to come to fruition in August 2022. Its constant adaptation and development of blockchain technology are what make Ethereum (ETH) one of the most dominant cryptocurrencies in the metaverse, and it shows no sign of slowing down.
Solana (SOL) - The Ethereum Alternative
Solana (SOL) is a highly functional open source crypto network that relies on the permissionless nature of blockchain technology to provide decentralised finance solutions. Unlike the majority of cryptocurrencies, Solana is powered by its own blockchain.
It has developed the nickname ‘Ethereum Killer’ by crypto experts due to its fast transaction speed, with its ability to conduct 65,000 transactions per second. One of its most prominent features is its proof-of-history consensus, which allows for great scalability of protocol. This consensus is responsible for boosting usability.
Since Mehracki (MKI) is built on the Solana (SOL) blockchain network, it can contribute to the growth of the upcoming meme coin whilst strengthening the establishment of Solana.
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