The world of crypto has grown significantly over the past year, with the number of crypto users increasing to 300 million according to an article published by BuyBitcoinWorldWide. Despite the popularity of crypto increasing, the market value and capitalisation have several declined for many prominent blockchain networks.
Two of these networks include Bitcoin (BTC) and Ethereum (ETH), who have both had a difficult time in maintaining their value over the past couple of months. Nevertheless, both blockchain networks have remained in the top two most profitable cryptocurrencies.
However, there is a new blockchain network that plans to surpass Bitcoin and Ethereum’s popularity, the HUH Token. This editorial will explore all how HUH Token can reach the popularity of Bitcoin and Ethereum.
What Influence Can HUH Token Have?
HUH Token (HUH) is the new blockchain network that plans to captivate crypto users through its niche and unique branding. Its utility functionality combines with the distinct theme that meme coins follow, making the first ‘utimeme’ token that attracts both analysts and investors.
HUH’s developers have made a conscious effort on elevating their marketing strategies to attract the attention of high-profile influencers. The blockchain network plans to launch MetHUH - a social networking site built for influencers to create content and are made available for crypto users.
If a social influencer’s posts content to, or a user views content on the MetHUH, a transaction with the detected levels of moderation, tone and light tokens is sent to the influencer's account. The MetHUH technology can detect moderation and light traits in the posted content using an ever-evolving algorithm along with mint sentiment coins that shape an inherent part of the HUH ecosystem.
The HUH Token takes its marketing a step further by dedicating a section of their website to entrepreneur Elon Musk, holding 20% of HUH tokens for him to use and wanting people to tweet Musk to garner his attention.
If Musk does not want the tokens held for him, HUH will gift it to a charity based on suicide prevention for young men. The influencers could contribute to the elevation of HUH Token, potentially making it a probable coin to dethrone Bitcoin and Ethereum.
Can Crypto’s Number One Bitcoin Remain On Top?
Being the first cryptocurrency in existence has given Bitcoin a significant advantage over altcoins. The anonymous Satoshi Nakamoto created Bitcoin back in January 2009 with the intention to allow online payments to be sent directly from one party to another without going through a financial institution.
It is best categorised as a peer-to-peer cryptocurrency, meaning that all transactions happen directly between equal, independent network participants, without the need for an intermediary to facilitate the transaction.
Bitcoin has created a global community, while giving birth to an entirely new industry of millions of enthusiasts who purchase, distribute and trade through using cryptocurrencies in their everyday lives. The emergence of the first cryptocurrency has constructed a technological basis that subsequently inspired the development of many crypto projects competing.
Recent news covering Bitcoin has shown that its value has begun to rise again due to the US inflation slowing down in July. Despite all of the negativity that has struck Bitcoin, it has managed to maintain itself as the number in crypto.
What Did Ethereum Bring New To The Table?
Ethereum (ETH) quickly gained popularity when it emerged on the market in July 2015. It is an open source blockchain system that features its own cryptocurrency and pioneered the concept of smart contracts in blockchain networks.
Smart contracts are computer programs which automatically execute the actions necessary to fulfil an agreement between multiple parties online. Its main innovation was to design a platform that allowed smart contract execution, reinforcing the already existing benefit of smart contract technology. Ethereum is also known for having the largest ecosystem in crypto, making it possible for many other cryptocurrencies to operate on the blockchain.
Ethereum plans to upgrade its mechanism, by transitioning from using a proof-of-work consensus to a proof-of-stake algorithm, in order to improve sustainability and scalability.
The upgrade, known as Ethereum 2.0, is scheduled to begin testing this month, and officially release in September 2022. Ethereum has evolved by moving to a more sustainable consensus, while upholding its large ecosystem. These reasons are why Ethereum is the second most successful crypto network on the market.
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