Today, let's talk about the recently launched new coins Saga and W. Today is the weekend, April 20th, and today is also a very important day. In addition to the hot rune fight, the halving of the big coin is also a topic that everyone has been paying attention to for a long time. What is the halving of the big coin? The halving of the big coin refers to an event set in the Bitcoin protocol that occurs every four years, and the number of Bitcoin rewards that miners receive by mining kuang is halved. This is a mechanism to control the supply of Bitcoin and simulate scarcity, designed to mimic the mining process of gold.
Saga, a new public chain based on the Cosmos ecosystem. Saga has attracted more than $13 billion in funds to participate in staking mining, a figure that is enough to prove its strength and appeal. Saga is a Layer 1 protocol built for developers, designed to provide end-to-end infrastructure for Web3 development. The protocol allows developers to meet the needs of their Web3 applications by launching parallel and interoperable dedicated L1 chains Chainlets, thereby achieving unlimited horizontal scalability and solving the congestion problem of blockchain networks. Saga's product design focuses on scalability, especially for the gaming and entertainment industries with extremely high performance requirements. The chains are highly interoperable, and users can interact seamlessly within the Saga ecosystem without having to feel the presence of multiple chains. In addition, Saga provides a fast bridging service to facilitate users to cross the Saga ecosystem.
W coin is the native cryptocurrency of the Wormhole ecosystem, carrying the core functions of the cross-chain communication protocol and infrastructure of the Wormhole platform. As a leading cross-chain platform, Wormhole aims to achieve secure and seamless data transmission between different blockchains.
For Wormhole, most people's impression is that the cross-chain bridge is not safe. In particular, on February 3, 2022, Wormhole was hacked and lost 120,000 ETH. In the past 30 days, the chain with the most value bridged through Wormhole is Ethereum. The main target chains are Sui and Solana. If we look at the number of transactions again, the situation will be slightly different. Solana is the chain with the largest transaction volume in Wormhole, and most of it has flowed to BNB chain, Ethereum and Arb. Overall. Both of these new projects are not bad. They have fallen a lot in the short term, and they can be arranged in the short term. They will rebound in the near future.
That’s all for today’s sharing. I hope it can be helpful for your investment. See you next time!