Juno blockchain is known for being an excellent platform for the deployment of interoperable smart contracts. It has gained popularity for being decentralized and censorship-resistant. Its native cryptocurrency is the JUNO token, and this wasn’t distributed via an ICO or private sales. Instead, it had a fair drop or stake drop genesis launch.
Briefly about Juno Blockchain
This blockchain was created to serve a number of functions. First, it addresses some major concerns of layer 1 smart contract platforms, including governance and scalability. The network is also meant to define a dedicated contract zone in the Cosmos hub. Since it is focused on decentralization, the project did not have any private sales of its native cryptocurrency. Also, it didn’t hold an initial coin offering. It is worth noting that this blockchain has a strong community behind it, which is why it is likely to enjoy great success.
Juno claims to offer Smart Contracts Evolved.CryptoLists.com
Juno network was the first to ever provide an environment for users to create smart contracts across blockchains. It can be used for decentralized finance, where it would facilitate lending, borrowing, derivatives, and superfluid staking. Users can also create digital worlds, games, and metaverses on the network. Some benefits of the blockchain include the reduced cost of transactions and deployment, as well as the lightning-fast speeds.
Utility of Juno Blockchain?
The main purpose of this blockchain is to facilitate the development of smart contracts across multiple sovereign blockchains and networks. This technology has the potential to supercharge industries like healthcare, real estate, and law. This is because it would allow important business information to be exchanged between private networks and public networks easily.
Juno Blockchain
Juno Blockchain Consensus Method: Proof of Stake
Release Date: October 20, 2021
Advantages at Juno Blockchain
+ It facilitates the development of interoperable smart contracts.+ The network can handle up to 10,000 transactions per second.
+ Users have to pay very low transfer fees on this network.
+ The JUNO network is lightning fast.
Disadvantages
- It has only been in use for a very short period.- Voting power may be concentrated in a few hands.
- Security is still unknown.
Costs
▪ Rated at 10/10Juno blockchain also solves the issue of high transaction fees. At the time of writing, the network is charging about $0.05 per transaction, and the network intends to maintain extremely low fees. Its main competitor, Ethereum, can charge up to $300 per transaction, and this fluctuates depending on the congestion of the network.
Reputation and Buzz
▪ Reputation rated at 9/10▪ Buzz rated at 9/10
Juno blockchain has developed a great reputation, particularly because it is the first network to facilitate the creation of interoperable smart contracts. The main concern people have with the network is that it hasn’t been around for a long time. It also has to compete with Ethereum, a platform that has gained mass adoption over the last years. Still, it solves lots of problems in Ethereum and has been steadily gaining more users. Most people discuss the project on Twitter, where it has over 71,000 followers. People on Reddit also discuss the network a lot.
FAQ
Who created Juno Blockchain?
This blockchain was developed by a number of people, including Jack Zampolin. It is known for being a community-owned project, and this is one reason why it receives a lot of support from crypto enthusiasts.
Is Juno Blockchain proof of stake?
Yes, this network uses the proof of stake system to secure the system. Holders of JUNO tokens can stake their coins to earn interest on the network.
Which projects have moved to Juno Blockchain after the UST depegging?
Once UST and the Terra network collapsed, Jack Zampolin encouraged users to move to the Juno blockchain and even proposed a token fund for outgoing Terra users. One of the biggest projects to have moved to the Juno network is FanFury, a sports betting service.
What is the native cryptocurrency of this network?
The native cryptocurrency of this network is the JUNO token, and it has a maximum supply of 185,562, 268 tokens. The initial circulating supply of the token was a little over 33 million.
Is it worth it to invest in the JUNO token?
The success of this token is directly tied to the success of the JUNO ecosystem. It is worth noting that more than 2000 DAO have been developed on the network. However, you should note that the technology is still new, and it can fail for many different reasons.
Screenshots from Juno Blockchain
