The Vara network’s unique approach stands out as a potential game-changer for improving scalability and execution. A detailed report by Messari confirms this, explaining how the Vara Network’s actor model provides a technical foundation on which new innovative blockchain applications can be built. The project achieves this by introducing new features, including signless transactions, that could greatly increase the platform’s adoption, particularly in the gaming industry.
An innovative method that could accelerate the onboarding procedure is the implementation of “gas vouchers” or “reservation tokens” by the Vara Network. With this system, newcomers no longer have to purchase tokens upfront to interact with applications. This mechanism mirrors the strategy in mobile games, allowing users to initiate usage without cost and pay as they progress, but all transactions are recorded on the blockchain for transparency. Several of the Vara Network’s game demonstrations, including Battleship, can be accessed on the main network.
In the Vara Network, the voucher system offers an additional advantage – signature-free transactions. By pre-assigning some gas to a smart contract at the outset, gamers can carry out actions without repeatedly needing to affix digital signatures, which is commonplace in blockchain gaming. This seamless implementation could potentially revolutionize the industry by granting access to the perks of blockchain technology while maintaining the conventional charm of gaming.
Vara’s development team is led by experienced professionals, including Nikolay Volf, a founding member at Parity Technologies. Notably, Gavin Wood, the founder of Parity and creator of Polkadot, made his initial investment in a crypto project on the Vara platform.
Blockchain apps often face the challenge of high inflation. To tackle this issue in its token economy, Vara Network has introduced an “inflation adjustment fund.” In this setup, newly minted tokens granted to validators are destroyed during the initial year, reducing the likelihood of rising inflation. Post-first-year, a community vote decides whether to restock the fund.
Despite the need for low inflation for at least a year, the cost of tokens used for staking in the Vara Network will still increase. According to the information on Vara’s staking rewards page, the real reward rate is nearly double the nominal reward rate. Therefore, by staking now, you can expect to earn rewards that are almost doubled, with an annual percentage yield (APY) of 14% or higher, depending on whether the tokens are reinvested for additional rewards.
For individual investors, investing in Vara tokens comes with the reassurance that there will be no pump-and-dump schemes or price manipulations. This is due to the fact that Coinbase listed the coin on September 20, 2023 – a significant achievement for many projects given Coinbase’s stringent criteria. The United States has rigorous regulations in place, which results in a limited number of market makers operating within this sector. Market makers typically earn revenue from token trading, leading to frequent market manipulations. However, those working in the US are required to maintain a market-neutral position.
After being launched, the price of most crypto project coins usually experiences a dramatic increase followed by a sharp decrease, before eventually leveling out as new buyers enter the market. An illustration of this trend can be observed in the Vara coin’s price fluctuations. When it started trading in September 2023, its price peaked at $0.33 per token but then dropped significantly to $0.05. Following this decline, there was a slow climb up to $0.14 in December, after which the price descended more gradually.
Starting in December, Vara’s price ranged from $0.06 to $0.11, with a brief surge to $0.14 in late March. Over the past two weeks, the price has dropped to $0.10. However, it seems to have stabilized around this level for the past seven days and may be on its way back up to $0.14. There is a strong possibility that Vara will surpass this level within the next week, leading to further increases towards the projected targets of $0.175, $0.20, $0.24, and $0.29. For non-US residents, Vara can be bought on Gate.io, although the liquidity there is significantly less than on Coinbase.
The underestimated Vara Network, with its scarcely traded coin, is an intriguing project to monitor. Its groundbreaking technological advancements have the power to revolutionize the blockchain industry, making it a potential game-changer similar to Solana. Led by a skilled leadership team, this platform could rise to prominence and experience significant token price growth. Crypto investors with sharp eyes will be eagerly anticipating the implementation of Vara Network’s innovations in blockchain solutions.
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2024-04-16 16:16