PlutoChain, Ripple, and Cardano Rush In The Next Wave of Blockchain Innovation

This year may be coming to an end, but not the bull run. Ripple and Cardano continue to make headlines with their ecosystem updates.

Altcoins had a bumpy ride in 2022, but the future still looks bright. Seasoned industry players know that the current market dip is just a good entry opportunity, not the end of the bull cycle.

Together with established projects, a newcomer PlutoChain (PLUTO) could capture the attention of the broader community, analysts, and developers with its Layer-2 solution for Bitcoin.

Here's why.

PlutoChain (PLUTO) Launches Layer-2 Testnet with 2-Second Block Times Compared to Bitcoin’s 10 Minutes

PlutoChain (PLUTO) aims to bring smart contracts to Bitcoin with its proprietary Layer-2 solution. This could enable direct deployment of decentralized applications (dApps) on the world’s leading blockchain. Its EVM compatibility also allows developers to easily port applications between Bitcoin and Ethereum ecosystems, accessing a combined market worth over $2.3 trillion.

However, Bitcoin’s slow transaction processing (10 minutes on average) and high transaction costs limit its practical applications in decentralized finance (DeFi) and everyday transactions.の時間制限を設けず、好きなだけ記述することができます。記述内容は翻訳元の記事に関連するものであれば何でも構いません。ただし、翻訳元の記事の内容をコピー＆ペーストすることは避けてください。

PlutoChain's Layer-2 solution offers 2-second confirmation times on its own blockchain, providing a faster alternative for transactions while still leveraging Bitcoin's foundational security principles.

Recently, the project launched its public devnet with Blockscout block explorer integration. This allows users to analyze transactions and addresses on the PlutoChain network.

PlutoChain's testnet already demonstrates significant scaling potential. Currently, it processes 43,000 daily transactions, roughly 10% of Bitcoin's daily transaction volume, with room for further growth. The block time averages just two seconds, 300x faster than on the Bitcoin mainnet.

PlutoChain puts decision-making power in the hands of its community through a transparent governance system. Early adopters can vote on key development decisions, ensuring direct participation in the network's evolution. The latest proposal, PIP 03, aimed to enhance the ecosystem's security with regular penetration testing.

Multiple top-tier auditors, including Assure DeFi, SolidProof, and QuillAudits, have checked PlutoChain's security infrastructure and confirmed there are no critical vulnerabilities.

Ripple (XRP) Draws Institutional Attention and Targets $5 in 2025

XRP price fell from $2.73 to $1.97 this week after BTC dipped below the $95,000 mark. But XRP has since rebounded to $2.22 and will soon retest the $2.50 resistance zone.

Long-term XRP holders remain optimistic, highlighting that XRP was trading at $0.49 just six weeks ago. Many in the XRP community see the current dip as an opportunity and set the next price target at $5.

Bloomberg analysts expect the Securities and Exchange Commission to list XRP exchange-traded funds (ETFs) in 2025. If XRP ETFs follow in BTC ETF's footsteps, they could boost institutional demand and increase the token's value.

Although XRP has its fair share of critics, including Messari founder Ryan Selkis, recent developments in the Ripple ecosystem suggest the token could see more upside. Ripple's new stablecoin RLUSD appears to be a strong competitor to USDT and USDC. Meanwhile, partnerships with investment firms Archax and Abrdn could accelerate XRP Ledger's adoption.

Cardano (ADA) Witnesses High Whale Demand, Could Reach $4

Analytics firm Santiment placed Cardano fifth among all blockchain networks based on development activity in the past month, outpaced only by Internet Computer, Hedera, Chainlink, and Starknet. Cardano's native token ADA now is the ninth-leading cryptocurrency with a $30.9 billion market cap and a 47% year-to-date price increase.

On-chain data reveals a strong demand for ADA among whales. The number of large transactions grew by 2.8% within the last 24 hours. Over 70% of ADA holders have been holding it for at least a year, indicating their belief in the project's long-term potential.

Beyond whale activity, ADA could benefit from the latest upgrades of the Cardano ecosystem, such as the Hydra scaling solution. Analyst Ali Martinez predicts ADA to potentially reach $4 in early 2025.

Ripple, Cardano, and PlutoChain Rush In The Next Wave of Blockchain Innovation

The year may be coming to an end, but not the bull run. Ripple and Cardano continue to make headlines with their ecosystem updates. These highly scalable blockchains question the status quo and could reshape the current network rankings in the upcoming months.

In contrast, the Layer-2 solution PlutoChain could resolve the shortcomings of existing