Good day Hiveians!
Join me in analyzing the crypto markets!
KOIN is about to launch V3 of the testnet which is going to be a big deal for the project
You can read up about the latest news release on medium "Finalizing the Framework". There is a lot of good info there if you haven't heard about KOIN and why it is different to other blockchains. The team launched V2 of the testnet several months ago and now feels confident to release V3 in the near future (my guess is 1-2 weeks). However, V3 is not just another release updating the testnet to the newset release; V3 is going to be the final version of the blockchain as a whole. For this reason the team does not want to rush it out and has higher quality standards for releasing it. Should there be any errors found the team would have to release another version, although this is currently not planned. After several months of testing, mainnet is planned to launch probably in Q3/4 of this year.
Here is a snippet from the blog:
It’s hard to overstate how important V3 is for the future of Koinos. V3 is more than just the next iteration of the test net, it should be the final iteration of the Koinos Blockchain Framework. Not only is this framework the foundation of Koinos main net, it will also be the foundation of every Koinos-based blockchain that is ever built! Once V3 is live, we shouldn’t need to hard fork any of the framework code again.
Ever... Let that sink in for a sec. Currently pretty much all blockchains require Hardforks to update the main framework. But with KOINOS being a modular blockchain it does not require any further HFs.
V3=final iteration of the Koinos Blockchain Framework
What is going to be essential for KOINOS' future is development as we will "just" have the main frame to work with. If no one will develop apps etc. it is basically a useless blockchain (although that could be said about every other project as well). Therefore the team is actively seeking developers' interest to start building their apps on KOINOS which shouldn't be difficult once people release how much superior this technology is compared to pretty much all other projects (with Hive perhaps being an exception ;)
The TA looks great as well
2 weeks ago we had a closer looked and argued that ~50 cents would be a great buying range. Here is the chart again:
As the chart suggests there is a potential for another price drop. But considering that the first subwave had a correction of 75% and the second wave has already had a ~70% correction I think one could argue that the potential for prices to go up is higher than continuing this mid term downtrend. The support from the trend line at this range is also quite strong.
As the main catalyst for the price increase in the second subwave was the release of V2, I think that V3 could have a similar effect. I definitely think that we could see $1-2 in the coming weeks.
As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!
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