By EWN • 26 September 2022 • 9:23
The year 2022 has been a spectacularly tumultuous year for crypto investors and enthusiasts. This is especially so for the second quarter and the third quarter of the year during which the valuations of major cryptocurrencies slumped by large margins of up to 80% and over.
These bearish trends in the crypto markets have undoubtedly had an impact on investor confidence. However, cryptocurrencies are slowly recovering and activity in the markets is slowly picking up.
As such, crypto investors are slowly identifying the best crypto coins and tokens to invest in. There are several potentially lucrative projects on the horizon but BudBlockz ($BLUNT) and Ethereum Classic (ETC) seem to be prime considerations for many investors. But why so?
Ethereum’s transition to PoS
As the application of Blockchain technologies in real life increases, there have been concerns over the environmental impact of crypto mining and NFT minting. The reason is the energy consumption of Blockchain projects is very high.
That can be attributed to the inefficient Proof-of-Work consensus mechanism for validating transactions on the Blockchain. Since it involves solving complicated mathematical equations to mine new coins, completing transactions using PoW takes long and requires a lot of energy.
This high energy consumption in turn translates to increased carbon emissions and adverse climate change. As such, Ethereum (ETH) has transitioned to the more environmentally sustainable Proof-of-Stake consensus mechanism which consumes much less energy.
However, not every “Etherean” is excited about this transition which is being referred to as “the merge.” This is because firstly, the fork to ETH is not consistent with the principle of immutability of the Blockchain as it involves a change in the fundamental code.
Secondly, there are many Ethereum miners who had invested billions of dollars in crypto mining equipment who had not yet recouped their costs. Since their equipment can no longer mine Ethereum (ETH), such miners have opted to switch to Ethereum Classic (ETC) which will continue using Proof-of-Work.
This has seen an increase in the hash rate of the chain as PoW miners flock to it, consequently triggering a surge in its valuation and increased investor interest.
BudBlockz immense potential in the decentralised cannabis market
Unlike Ethereum Classic, the BudBlockz project has not yet been launched officially and the private sale of its tokens is still ongoing. However, it remains to be one of the most anticipated crypto projects.
This is because BudBlockz is not another regular cannabis-based crypto project whose only appeal is bringing together cannabis enthusiasts. Rather, BudBlockz is set to crack open the tremendous revenue potential of cannabis on the Blockchain.
Limitless growth potential
As a cannabis decentralised e-commerce platform, BudBlockz will facilitate seamless interaction of cannabis providers and consumers in its robust ecosystem. This will ensure efficient and secure peer-to-peer purchasing of cannabis products using BudBlockz utility tokens ($BLUNT).
Consequently, more value will be unlocked as the cannabis market expands due to legalisation in more jurisdictions worldwide as well as increased use of cannabis for recreation and in the food and medicine sectors.
Fusing crypto, e-commerce, and NFTs
Additionally, BudBlockz premier NFT collection Ganja Guruz is another reason why investors have a keen interest in the project. The NFT collection will allow investors to have fractional ownership stakes in dispensaries and farms across the world.
All this demonstrates that BudBlockz will lead the way in extracting business value from the cannabis market using decentralized systems. Therefore, many investors are keen on joining the party early so as not to miss out on this potentially delicious main course.
>> Purchase BLUNT tokens here <<
Learn more about BudBlockz (BLUNT)
Official Website: https://budblockz.io
Presale Registration: https://app.budblockz.io/sign-up
Telegram Group: https://t.me/BudBlockz
Discord Server: https://discord.gg/s7hBFgvTmN
All BudBlockz Links: https://linktr.ee/budblockz
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