Altcoin Season: AMP used for Collateralizing Crypto Transactions Soars 3.6X

Crypto forecast has become extremely unpredictable at a time when crypto markets are bleeding, sinking under the weight of bears, AMP–collateral-as-a-service token, is up roughly 4X, adding a whopping 361 percent in less than a month. 

AMP acts as collateral, adding an extra layer of securities for counter-parties helping power secure and instant transactions. 

To use this service, a user needs first to stake AMP. Whenever a transaction is not confirmed, the system automatically sells it, covering for losses. 

This is useful considering the auctioning means of crypto confirmation. Miners, at their discretion, can elect not to confirm a transaction due to the low transaction fees associated with it. 

Whenever there is consensus, the token is reimbursed for cushioning another transfer. 

Ethereum is accelerating Crypto Adoption than Bitcoin-ETH Price Prediction-Crypto Forecast

A few weeks after JP Morgan said Ethereum would eventually flip Bitcoin, Raoul Pal has once reiterated that Ethereum is better in spearheading crypto adoption.

Unlike Bitcoin, Ethereum is a smart contracting network behind some of the most exciting developments in crypto, including ICOs, IDOs, blockchain gaming, DeFi, NFTs, and more. On the other hand, Bitcoin—thanks to its first-mover advantage, is a transactional layer and a store of value, competing with gold. 

In an interview with UpOnly, Pal cites the number of developers working in Ethereum, the rising number of addresses, and the pace of dApp development. At this rate, he says Ethereum is benefiting from Network Effects, helping it close the gap versus Bitcoin.

Also Read: 10 Places to Lean Crypto

Crypto Current Staff

Crypto Current will be guiding all of you who are new to the cryptocurrency world to becoming a cryptocurrency and blockchain expert. Crypto Current was founded to give access to information to everyone on current events occurring in cryptocurrency and blockchain in a digestible way. Since its creation, we have created content that impacted thousands of people through its podcast, blog, and social media.