Favourite Blockchain of crypto explained by @drhive75
Block-chain is actually the system of recording information and tracking assets in a way that it is almost impossible for anyone to hack or cheat the information of the whole system, allowing many cryptocurrencies to operate without the need for the central authorities to help in transactions and other tasks. Almost every business run on the information stored and also on the fact of how accurate it can transfer or receive it.
My Favorite Blockchain Network, its history, and why It's my favorite
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There are more than 1000 blockchain projects in cryptocurrencies like bitcoin,etherum, ripple, and quorum but my favorite one is etherum. It is decentralized with the support of smart contracts and securely executes and verified application code it is almost comparable to bitcoin and has its own cryptocurrency called ether. Many decentralized Applications and Dapps are built on the etherum network, especially for the non-fungible tokens that are the type of digital assets. It's a well-established blockchain network and its own cryptocurrency has gained a huge spike in its price and hopes it has a great future.
History:
It is one of the oldest and most established blockchains that was proposed in 2013 by Vitalik Buterin. Also have some other founders like Gavin Wood, Charles Hoskinson, and Joseph Lubin, help in grooming or creating new projects in the blockchain. Different white and yellow papers were e created in 2014 almost and a pre-sale event was also launched to initiate investors to buy tokens that remain successful and enhanced the blockchain.
Why it's my favorite:
It has its own official token that is used in exchanges and transactions.
it has a cheap and reasonable cost in tokens and also has high liquidity in assets.
it has secure, fast, and reliable transactions.
Does the network has some earliest shortcomings and how has the network's team taken care of the problem?
So the answer to this question is Yes it also has some shortcomings as it has issues in its scalability due to the scalability issues it was hacked also in 2016 which was a huge loss for the platform and security was also doubted.
So after hacking its price was also fluctuate after which the technologist of the platform start working on its flaws to develop a most rated blockchain and establish two classes Etherum and Etherum Classic. So after working on the shortcomings, there was a great change in the value of etherum and now it is the second-largest platform in exchanges.
What changes do you think would make the network better?
Although it is well established now some problems that investors find difficult in the transactions
Higher processing fee as compared to the other networks and scalability of the network, slow processing.
I think if these issues are solved this platform can be better because due to scalability our traditional or institutional investors find some issues in investments of their assets. And high processing fees also make inconvenience so the fees should be decreased for the improvement of the platform.
Write about a Project that is built on your favorite Blockchain.
There are so many projects that are built on the platform successfully like Sandbox, manna, brave, and the open sea. Here I am going to discuss the sandbox project built on Etherum.
Sand is an ERC-20 Token built on etherum Blockchain. It is the utility token and currency of the sandbox ecosystem.SAND will be required for buying and selling non-fungible tokens.
It is a metaverse project. It is well known for its smash mobile hits and it was widely downloaded in windows its evolution was in 2012 first time by Pixowl.it includes three integrated products that provide a comprehensive experience.
price in the market
i told about this blockchain and now we discussed about its market value.
- when we talked about its value in USDT you can see in the below screenshots its value in usdt is 2.68 💵 and its marketing value updated every time and depends on the market trend
- now we discussed this blockchain in our national currency today about market value in pkr is 500 and this updated is available every time
coinmarketcap
So its all about the sandbox crypto blockchain and i really hope you will like my this post