Cryptocurrencies have had a rough time this summer, with many prominent blockchain networks rapidly dropping in value. The cryptocurrencies that suffered this deterioration such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and Terra (LUNA).
As a result, many crypto buyers have been concerned about investing in a bearish market that is inconsistent and has high volatility. Nevertheless, there is still hope for crypto, with many blockchain networks such as Bitcoin and Ethereum upgrading their mechanisms.
Celphish Finance (CELP) is an upcoming crypto project that plans to build an innovative community by innovating social networking features. This article will review the new innovations that Celphish Finance and Bitcoin can bring to the bear crypto market.
Celphish Finance – A crypto for the community
Celphish Finance (CELP) is a blockchain network that plans to bring something new to the crypto realm by authorizing multi-chain liquidity purchasing and trading from different liquidity sources. One of these sources includes DEXs that operate on a variety of blockchain networks.
This allows users to trade and exchange coins at the lowest prices. One of CELP’s main goals is to allow crypto enthusiasts to perform crypto activities via their smartphones without restrictions. The blockchain network offers to scale up operations frequently, without limiting the possibilities.
Celphish Finance provides users with a secure, simple and fast peer-to-peer (P2P) trading network that allows users to trade freely without waiting times or unnecessary verification requirements. CELP uses a secure system that solves the inherent trust issues of online P2P trading.
Furthermore, the Celphish Finance network was designed to concentrate on building an NFT marketplace that allows the creation of memes, has unique social media features, allows chat messaging while having educational elements.
Currently, in the pre-sale phase, Celphish Finance allows buyers to buy their cryptocurrency at a reasonable price while having the improbability of fluctuation.
Bitcoin – Does taproot upgrade bring a new element to crypto?
Bitcoin (BTC) is the first and most successful cryptocurrency. It is responsible for constructing the crypto market that we all know today! The blockchain network is best described as a peer-to-peer online currency that allows users to transact directly between independent, equal participants without the need for an intermediary’s involvement.
The digital currency was created in January 2009 by an anonymous figure who goes by the alias ‘Satoshi Nakamoto’. Nakamoto stated that the purpose of Bitcoin was to allow online payments to be sent directly from one party to another without having to go through a financial organization.
In early 2022, Bitcoin implemented its most significant upgrade to its platform in the past four years. Dubbed “Taproot”, this upgrade is intended to streamline the processing of transactions while making them more cost and time efficient. Taproot also mixes single and multi-signature transactions together – making it harder to identify transaction entries on the Bitcoin blockchain.
Before this Taproot implementation, Bitcoin required verification of transactions, and it was slow due to each digital signature being validated against a public key. This process multiplied the time it would take for a transaction to take place.
Taproot has brought a new element to Bitcoin by helping to scale the number of transactions that can happen on Bitcoin’s network, bringing efficiency to the platform. Despite the recent crashes, investors can have confidence when buying crypto’s number one coin.
More information about Celphis Finance (CELP):
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