It’s clear that some of the older crypto assets, such as Cardano (ADA) and XRP (XRP), are becoming obsolete thanks to the advances of new projects. For example, TMS Network (TMSN) has seen tremendous success with its ongoing token presale, which is currently in its second phase. After raising more than $4.0 million, it’s clear that a new age of decentralized applications (dApps) is here.
TMS Network (TMSN)
The first feature of TMS Network (TMSN) that stands out to people is that it is a decentralized exchange (DEX) that has been deployed on top of the Ethereum (ETH) blockchain. However, there is much more to TMS Network (TMSN) than the fact that users are able to retain custody over their assets while trading.
For example, TMS Network (TMSN) has a strong interest in cultivating community engagement because the life of a crypto trader can sometimes be rather lonely. There are a number of ways in which TMS Network (TMSN) intends to make crypto trading more social, but it all starts with the social trading feature. With social trading, crypto traders are able to follow each others’ buy and sell orders on TMS Network (TMSN) and automatically follow along if they so choose.
Outside of social trading, TMS Network (TMSN) is also building a general sense of community among the TMS Network (TMSN) user base and token holders. The TMS Network (TMSN) token itself will be critical to this process, as it also introduces a financial component to the equation through the sharing of profits made by the exchange.
The XRP (XRP) community is closely following the developments in the legal dispute between Ripple and the U.S. Securities and Exchange Commission (SEC), which accuses the company of selling unregistered securities in the form of XRP (XRP) tokens.
Recently, a congressional hearing on SEC oversight has sparked some optimism among XRP (XRP) holders, as SEC Chair Gary Gensler seemed to struggle with answering some questions on how to classify different cryptocurrencies. For instance, he did not give a clear answer on whether Ethereum (ETH) should be considered a security or a commodity.
Some observers believe that this lack of clarity and consistency in the SEC’s approach could benefit XRP’s (XRP) defense, as the company has argued that XRP (XRP) tokens were not sold as securities and that the SEC did not provide adequate guidance on this matter. Moreover, some lawmakers have called for restructuring the SEC and removing Gensler from his position, which could potentially change the course of the lawsuit.
However, there are also risks that the congressional hearing and possible actions against the SEC may create further uncertainty and confusion in the XRP (XRP) market.
Cardano (ADA), a proof-of-stake blockchain platform, has been attracting attention from the crypto community for its potential to rival Bitcoin (BTC) and Ethereum (ETH). According to its founder, Charles Hoskinson, Cardano (ADA) is a third-generation blockchain that aims to solve the scalability, sustainability, and interoperability issues of its predecessors.
Recently, Hoskinson celebrated the possibility of Cardano (ADA) integrating with Bitcoin (BTC), the largest and most popular cryptocurrency. In a tweet, he shared a video of a demonstration of a bridge between Cardano (ADA) and Bitcoin that was created by a team of developers. The bridge is not yet live, but Hoskinson expressed his enthusiasm and support for the Cardano (ADA) project. He also invited other developers to join the effort and contribute to the Cardano (ADA) ecosystem.
It will be interesting to see how well Cardano (ADA) and XRP (XRP) can hang on going forward because Ethereum (ETH) has become extremely dominant as the base layer for decentralized applications like TMS Network (TMSN).
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