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Red Week For Crypto And Blockchain Gasless Solutions Through Redlight Finance
Today I was looking for some crypto updates around the internet and wanted to know some information. This week is really very red for crypto and we all know that very well and experience so many issues like losses. But did you heard about the launching of Redlight Finance ? I just learn about this from the internet and wish to talk about these two news which found first when look for crypto updates and financial news. This is my first time when I've heard about Redlight Finance and I'll discuss more about it now with the source.
My first discussion topic is crypto red week and we can see BTC and ETH these largest coins in crypto industry drop down by double digit. This slumping was expected by predictionists and expert researchers. They also expecting a big pump in near future. But we need to talk about the current status of crypto. According to marketcap Bitcoin is currently sells for $21,309 and down 13% .
On the other hand, Ethereum’s price was boosted by anticipation of its upcoming “merge” upgrade, when the network is expected to transition from the energy-intensive proof-of-work (PoW) consensus mechanism, to the 99.95% greener proof-of-stake (PoS) mechanism. Banking giant JPMorgan said that Ethereum’s merge will be good for Coinbase. The crypto exchange holds a 15% market share of Ethereum’s assets and offers an Ethereum staking service for institutions. JPMorgan expects these will give the exchange a competitive edge after the merge. (Source)
Bitcoin miners found post losses publicly. One of the well known miner company Bitfarms posted a $142 million lossdue to rising energy prices in the second quarter. This was just an example of losses. I've mentioned the source above where from you can collect more information about this news. I'm just discussing the highlighted area of this red week on crypto world.
Now its time to discuss about something positive and its about red light finance which launched to solve the problem of gasless in blockchain. $REDLC is a governance token and with the $REDLC, Redlight Finance is going to revolutionizing the EVM-compatible Blockchain world through gasless solutions and this news was published 13 hours ago.
I think this is an effective initiative to resolve gasless issues in blockchain. Now you may ask what is Redlight Finance? Well, its a technology based company with introduced redlight chain. Redlight chain is a Layer 1 EVM-compatible Blockchain with new functionalities according to the information collected about it.
Redlight Chain is centered on solving the Blockchain trilemma of scalability, decentralization, and security by optimizing the gasless Blockchain. $REDLC is the governance coin for the Redlight blockchain, which is solving two significant barriers: gas prices and congestion, through innovation, adding new functionalities.(Source)
Sounds $REDLC token of redlight finance going to solve two major issues in blockchain successfully and this innovation should welcome. I liked the initiative which going to contribute in resolving blockchain issues. It will also contributing on finance of world wide.