As we move through Q3, a number of projects are moving ahead with continued development, and this week’s choices are set to benefit from significant updates and announcements that should strengthen their market positions and benefit their communities. The news should also result in increased amounts of attention to each respective currency over the coming weeks.
1. Icon (ICX)
ICON is an interconnecting blockchain network that connects independent blockchains without additional intermediaries and provides blockchain solutions to banks, hospitals, and universities. The ICON platform represents the next generation of blockchain technology and aims to bring forth decentralized applications (DAPPs) that can be used swiftly and securely by a variety of institutions and communities.
Why Icon? Omm DeFi Launches on August 24
The Icon team have confirmed that decentralized finance will come to the Icon network this week as the Omm money market opens on August 24 at approximately 5:00 UTC. The Omm platform will allow anyone to supply assets and earn interest, as well as borrow assets for short-term loans. ICX holders will be able to supply their assets from the launch date, and using the platform allows anyone to earn Omm governance tokens, and ICX staking rewards. You can learn more about the Omm money market dynamics, and benefits here.
2. Energi (NRG)
Energi is a next-generation proof-of-stake (PoS) cryptocurrency that combines smart contracts, decentralized governance, and a self-funding treasury. Energi was founded by Tommy World Power, who imagined a better, sustainable cryptocurrency that had the potential for mass adoption. The project has since grown to more than 60 team members and 225,000 community members, all working together to create a cryptocurrency for the future.
Why Energi? 3.0 Platform Update on August 25
The Energi team have announced that the Energi 3.1.0 mandatory upgrade will take place this week ahead of the Asgard hardfork taking place on August 25. As a result, there is an Energi Core Node v3.1.0 mandatory upgrade for all nodes, and any node that has upgraded will be invalidated at the time of the fork. All node operators are advised to download the latest version v3.1.0 of Energi Gen 3 Core Node for their operating system, and make sure to be up and running before August 25 to remain fully in synch with the network. You can found out more about the technical aspects here.
3. Firo (FIRO)
Firo, previously known as ZCoin (XZC) is the first cryptocurrency to implement Zerocoin. This enables users to enjoy complete financial privacy thanks to a technology that’s based on zero-knowledge proofs. Although inspired by Bitcoin, Firo aims to overcome the privacy issues that are associated with using a public ledger. Newly minted coins can be made private and stored away from prying eyes.
Why Firo? Upgrade and Fork on August 26
The Firo team have confirmed that there is a mandatory update to Firo v0.14.8.0 before a hardfork at block 401580 which is expected to occur on August 26 at 8:30 UTC. The hardfork will bring a number of improvements including moving the Lelantus joinsplit payload into the vExtrapayload section and allowing Trezor support to be re-enabled. All node operators and Firo QT Wallet users will need to update before the hardfork, while anyone using the mobile wallet or keeping funds on an exchange will not be required to do anything, and you can find the Firo v0.14.8.0 release notes here.
How did the coins perform last week?
The seven day period generally led to positive results across the market; and WAXP made a marginal move of less than 1% and is currently trading at around $0.18. ALPHA improved by 17% and is currently trading at $1.15, and LISK jumped by 15% over the week, and is currently trading at $4.87. Over the course of the week, the market moved from an overall valuation of $2.05T to $2.09T.