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Ethereum Ranked #1 as Consolidation Approaches Fast

3. FTX Token (FTT)

FTX Token is a token issued by FTX, a leading cryptocurrency exchange. The token is issued on the Ethereum, Solana, and Binance Smart Chain blockchains and is traded under the code FTT. FTT holders enjoy discounted transaction fees on FTX and are also eligible for weekly airdrops of SRM tokens. By staking FTT, users can access better airdrop rewards or avoid withdrawal fees for ETH or tokens on the Ethereum blockchain.

FTX periodically buys FTT tokens from the market and burns them weekly, which reduces the supply of FTT over time. Through the partnership, GameStop will sell FTX gift cards at select physical locations. The two parties will also collaborate on e-commerce and online marketing projects.

In August, CNBC reported that FTX generated more than $1 billion in revenue in 2021, an increase of more than 1,000% over the previous year. FTX has solidified its status among the top cryptocurrency exchanges, and the company is aggressively marketing its exchange through advertisements in the mainstream media.

2. BNB (BNB)

BNB is a token released by the Binance cryptocurrency exchange in 2017. BNB performs two basic functions. Token holders can access exclusive benefits when using Binance. The token is also used as the native asset of the BNB Chain blockchain. BNB Chain is a variant of Ethereum that offers users significantly lower transaction fees and allows developers to easily deploy EVM-compatible decentralized applications.

The BNB Chain project has announced a new layer 2 scaling solution called zkBNB that will provide a faster and cheaper alternative to BNB Chain users. As the name suggests, zkBNB uses ZK (zero knowledge) technology.

Zero-knowledge proofs were introduced to the cryptocurrency scene by Zcash, which leverages technology to enable private transactions. Later, projects also started using zero-knowledge proofs in layer 2 scaling solutions – examples include zkSync, Loopring, and Aztec.

The BNB Chain team says that zkBNB provides faster transactions, faster certainty, and lower gas fees compared to tier 1. A zkBNB testnet has been running since September 2, but the project aims to launch a mainnet before the end of the year.

1. Ethereum (ETH)

Ethereum was launched in 2015 and was the first blockchain to introduce smart contracts and decentralized applications. Over the years, Ethereum has managed to maintain its position as the leading blockchain platform for smart contracts, with its native asset ETH second only to BTC by market cap.

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Ethereum’s long-awaited transition to Proof of Stake is just around the corner. Last week, Beacon Chain successfully completed the Bellatrix upgrade and laid the groundwork for true Unification to happen.

Ethereum Consolidation will be 5875000000000000000000000 in terminal total difficulty (TTD). This will be the difficulty level of the last Proof-of-Work block to be mined on Ethereum. The exact time when this TTD will hit depends on Ethereum network conditions, but the consensus seems to be that Consolidation will most likely occur between September 13 and September 16.

About Hama Amefiz

Amefiz is a professional blockchain, cryptocurrency and tech journalist, regular contributor to newsbsc.com who is writing analysis about the latest developments in the cryptocurrency and blockchain space.

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