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If you are a Bitcoin or Ethereum investor and are looking for the reasons behind why a particular coin has gone up in price today, you have come to the right place. First of all, let's examine what's behind this cosmetic change. This was a similar to a stock split, in that the total supply of DOTs was increased from ten million to one billion. In addition, the change did not affect pre-market valuation and, as such, did not affect the dollar value of a single DOT.
Ether (ETH) is the platform-specific cryptographic token
ETH is the platform-specific cryptographic token used in the Ethereum network. It is a digital currency used for payment and storage purposes. Its value has significantly increased in the last few years, and many investors have made a tidy profit. Nevertheless, investors should take caution before investing in Ethereum. The platform is highly volatile, and it does not have any cash flow or hard assets backing it.
Ethereum is a blockchain-based network that enables decentralized applications and smart contracts. The ETH native cryptocurrency is used by users to purchase goods and services. It is also used by developers to build applications on the blockchain, including payment systems, personal data storage, and complex financial transactions. As an open-source, decentralized, blockchain-based public software platform, Ethereum is a great choice for people who want to develop their own applications on the blockchain.
Ethereum works by creating a network of permissionless, non-hierarchical transactions called "blocks." Each block is unique and must be validated by miners to be accepted into the network. Miners are rewarded in ETH for their efforts. They earn ETH by validating transactions, but stakers may lose their investments if the transactions are not validated. In addition, the blockchain will become increasingly unstable as fewer ether will be available to be stakingd.
Ethereum uses gas to run its network, which is paid by miners in ETH. This gas is essential for the network to run and it is used to power peer-to-peer transactions. It also maintains a record of ownership of ether cryptographic tokens. Ethereum also enables developers to create dapps (decentralized applications) that interact with the network and connect to the Ethereum blockchain through smart contracts.
MATIC is the native cryptocurrency
MATIC is a staking token on the Polygon blockchain and is used as a proof of stake for its network. Miners can stake MATIC coins to earn rewards and grow in value over time. Its popularity is growing, with an all-time high of $2.9 in December 2021. At the start of the year, MATIC had a market cap of just $81 million. It has since grown to a market cap of $10 billion.
Polygon, formerly known as Matic Network, is an open source framework for creating interconnected blockchain ecosystems. Launched in October 2017, Polygon maintains the MATIC ticker for its native utility token. The platform is open to contributors, so there's no official roadmap. While the current state of this blockchain ecosystem is unclear, developers and DeFi users may find it attractive.
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