Layer 2 chain Optimism, and venture capitalist firm a16z, released Magi, a rollup solution for Optimism that brings many benefits to users and developers. This caused a price pump of 7%, but the gains were soon lost by the overall correction of the market.
Collateral Network is a new entrant to the market, and presents a revolutionary new way to get loans using web3. Collateral Network is in the second stage of presale and the native token is already up by an impressive 40%.
>>Register For COLT Presale Here<<
Optimism (OP) and Andreessen Horowitz expand functionality and diversity.
Magi is a new roll-up client for Optimism. Currently, the only client on Optimism is written in Go, a programming language maintained by OP Labs. Magi, written in Rust programming language, aims to be a faster alternative to and to provide more diversity to Optimism rollup clients. This means more security for Optimism and also makes it more attractive for a wider pool of developers as they can now program using Rust.
Thanks to Magi, any existing Ethereum execution client can be compatible with Optimism, and several new projects have already adapted them to achieve client diversity. Magi is still in development and will likely take some months before it is fully ready for large scale usage.
On the back of this the Optimism team then released Bedrock, another feature to improve client diversity and network safety. These developments are part of a series of updates to make Optimism easier to use, faster, safer and ultimately allow interoperability.
Which token is outperforming OP?
COLT is a new token from a paradigm shifting project called Collateral Network. Collateral Network aims to be the first lending platform that lends money via 1-1 backed real world assets which are represented on the blockchain by an NFT.
Why is Collateral Network unique?
Getting a traditional loan can be difficult. People needing quick and easy access to money who own items such as super cars, real estate, art, fine wines and rare whiskeys, can get loans in 24 hours using Collateral Network. Unlike banks there is no red tape or credit checks, and the loan is totally private. Collateral Network also see themselves as an alternative to the pawnbroking industry, something which still exists but is old fashioned and may cause borrowers to feel embarrassed or inconvenienced.
Alternative assets like diamonds and art are a great store of value that help to diversify a portfolio. However, liquidity can be a problem and that’s where Collateral Network shines, since they offer the loans to their community of lenders, meaning that real people, not banks, profit from the interest rates charged and that there is an easy way to make the relatively illiquid, liquid.
More about COLT and Collateral Network’s future
Collateral Network’s COLT recently began presale at $0.01, and has now risen to $0.014. As per their website, the next increase in price will be to $0.168. Industry experts predict that it could rise by 35x during the presale, and may go as high as another 100x once it is listed on major exchanges.
Optimism is pushing in the right direction for development and interchain operability, but it may take time before the results become truly evident in both the price and the on-chain experience.
As a new coin with an innovative idea behind it, Collateral Network is an exciting opportunity for those who recognize the potential of web3-based loans and crowdfunding. According to experts, COLT has a significant amount of upside potential, making it a promising investment for crypto traders.
Find out more about the Collateral Network presale here: