There are a number of tokens on Uniswap (UNI) that continue to be significant performers, grabbing the attention of both investors and traders. This is despite the fact that the overall cryptocurrency market has slowed down following weeks of increased prices.
One of these top performers is METIS, which has seen its value hit $50 for the first time in only one day, representing an increase of more than 32 percent.
Metis has implemented its Smart L2 design in order to achieve cheaper and more reliable transaction costs. This is in response to the first half of Buterin's query, which was answered negatively. What is the end result? The fact that Metis became the most cost-efficient scaling solution on Ethereum was an instant demonstration of the fact that something incredibly beneficial might emerge from it without delay.
More over a year ago, Metis made it possible for users to conduct transactions with fees that were at least one hundred times lower than those on Ethereum Mainnet. This was accomplished while utilizing Ethereum's inherent decentralization and security. Additionally, Metis established itself as the most cost-efficient Layer 2 network on Ethereum by providing transaction costs that were lower than those of any other Layer 2 network.
As we continue to develop as a scaling solution, we have come to the realization that in order to realize our full potential, we need to fill an even more significant need that has not yet been filled by industry participants. This void is known as rollthrough decentralization. Although rollups have the potential to become incredibly scalable, they will never be as safe as Ethereum unless they decentralize their sequencer. This is a crucial milestone that must be reached in order to attain widespread and institutional acceptance.
That being the case, we will complete it.
In the near future, Metis will launch the very first sequencer pool, so establishing itself as the very first decentralized Layer 2 operating on Ethereum. On the other hand, there is something that has the potential to be much more superior, providing the greatest possible security standards and data availability requirements: the first decentralized rollup on Ethereum.
Through the use of the Optimistic Rollup framework, it is a hard fork of the Optimism framework.
Metis is an EVM-compatible Layer 2 scaling solution that is built on top of Ethereum (ETH). It enables transactions to be completed more quickly and at a lower cost (compared to other L2s, it is the cheapest at 0.02 cents per transaction).
In recent times, the cryptocurrency has demonstrated an impressive level of performance.
Up by 35.09% over the course of the previous day, the token is currently trading at $51.01 at the time of this writing. This last week, the value of the cryptocurrency has increased by around 130%.
As a result of this increase, its position on CoinMarketCap has increased to number 189, and it currently has a live market cap of roughly $233 million.
With a total quantity of 10 million METIS, the token has a restricted supply of 4.57 million METIS that are now in circulation.
Metis is a scaling solution for Ethereum using the Layer-2 protocol that aims to solve the blockchain trilemma.
The following year is going to be a crazy one for METIS.
Some of the tokens that have the potential to be used in the ecosystem include:
The cryptocurrency industry is characterized by rapid changes that bring both opportunities and challenges for those engaged. These patterns highlight the ever-evolving nature of the cryptocurrency and blockchain industry.