Taraxa (TARA) Price Prediction 2023 - BlockDAG vs Blockchain

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BlockDAG powered Taraxa pumped hundreds of percent in early August then crashed. In this article we cover a potential TARA price prediction and the Blockchain vs BlockDAG rivalry.

We will analyze the future trajectory of $TARA’s price despite market volatility and its potential for significant upside growth in the cryptocurrency market. Additionally, we will examine the unique features offered by both Blockchain and BlockDAG technologies.

Taraxa (TARA) price prediction

A newly emerging cryptocurrency, $TARA, has been drawing interest from various corners of the community. Some see it as a greatly undervalued asset that offers genuine decentralization and high scalability. Currently, $TARA remains an overlooked gem, boasting a low market cap of just $16 million.

The present Taraxa price stands at $0.005, accompanied by a 24-hour trading volume of $1.15 million . Its circulating supply is 2.94 billion $TARA. Taraxa’s price changes relative to volume and market cap shifts contribute to a high-risk rating.

Over the last 24 hours, Taraxa’s price has surged by a notable 8%, while its price has declined by 25% over the past week. Impressively, Taraxa’s price has soared over 300% in the past month, capturing investor attention.

Recent price fluctuations of $TARA result in a high-risk score, attributed to the past 24 hours of price volatility in relation to volume changes, leading traders to express concerns about its current susceptibility to manipulation.

For those seeking long-term returns, investing in $TARA could prove advantageous. However, if you anticipate rapid growth in the coming weeks or months, the window for buying $TARA at such levels has likely closed. Nonetheless, an anticipated price dip could present an excellent opportunity to enter the investment at a lower point.

Blockchain vs BlockDAG

In the ever-evolving realm of digital currencies and decentralized systems, the ongoing discourse between BlockDAG and Blockchain has captured the attention of tech enthusiasts and investors. Both technologies hold the potential to reshape digital transactions, yet they exhibit distinctive features

But what sets them apart?

Before delving into the comparison, it’s essential to clarify certain terms. In the domain of distributed ledgers, a BlockDAG signifies a DAG (Directed Acyclic Graph) where vertices represent blocks, and edges denote references from blocks to their preceding counterparts.

Both the blockchain and BlockDAG function as distributed ledgers, though their structures differ. A blockchain encompasses a sequence of unalterable transaction blocks in chronological order. In contrast, a BlockDAG forms a network of individual transactions intertwined with multiple others.

DAG networks lack traditional transaction blocks. While a blockchain resembles a linked list, a DAG resembles a branching tree, extending from one transaction to another and beyond. Consequently, a BlockDAG introduces novel validation perspectives, potentially advancing decentralization.

Unlike the diverse consensus mechanisms of blockchain, DAG relies on individual transactions validating one another. Additionally, this approach eliminates the need for fees, as each transaction participant serves as both a miner and validator (except for their own transactions).

This innovation also reduces the reliance on a large “miner army,” leading to lower energy consumption. However, it’s important to note that while BlockDAG offers advantages, achieving the same level of transparency and immutability as blockchain can be challenging.

Blockchain’s established foundation as the backbone of cryptocurrencies ensures robust transparency and immutability features.

Analysts concur on $TARA coin’s potential to replicate $KAS performance

$TARA forms a vital component of the Taraxa Project, characterized by its scalable, fast, and decentralized Layer-1 network built on BlockDAG and EVM compatibility. The project’s focus centers on utilizing decentralization and AI to address real-world issues, a blend attracting growing attention from crypto enthusiasts.

$TARA’s standout feature lies in its impressive scalability, boasting a transaction speed exceeding 5000 transactions per second (tps), a notable edge over established cryptocurrencies. Moreover, the system demands minimal resources for running a node, requiring only a basic Raspberry Pi.

The Taraxa Project’s effective marketing strategies and strong community support further contribute to its appeal. The project’s community-driven approach factors heavily into its success, emphasizing risk/reward, narrative, utility, adoption, and branding.

Effective marketing efforts have successfully amplified awareness around $TARA and lured new investors. While competition is inevitable in the crypto space, a rivalry between $KAS and $TARA holders has emerged, potentially bolstering $TARA’s visibility and even drawing investors from $KAS.

Amid these rivalries, a call for unity resonates within the crypto community. Some voices emphasize avoiding undermining one another, recognizing that such division doesn’t contribute to the overall advancement of the crypto ecosystem.

Despite $TARA’s comparatively modest market capitalization, its rapid expansion and growing interest from the crypto community indicate its potential to become a significant player in the crypto landscape.

Top crypto analyst, Crypto Phoenix recently shared his perspective on $TARA, acknowledging its solid foundation and fundamental strength while voicing reservations that have influenced his investment decisions.

For those interested in exploring alternative options, we invite you to check out our comprehensive guide featuring the top altcoins worth considering for investment in 2023.

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