This new token is outperforming the crypto market with Optimism (OP)

Layer 2 chain Optimism and venture capital firm a16z have launched Magi, a roll-up solution for Optimism that brings many benefits to users and developers. This triggered a 7% price hike, but the gains were soon lost to the general market correction.

Collateral Network is a new entrant to the market and introduces a revolutionary new way to get loans using web3. Collateral Network is in the second stage of pre-sale and the native token has already gone up impressively 40%.

>>Sign up here for the COLT presale<

Optimism (OP) and Andreessen Horowitz extend functionality and diversity.

Magi is a new roll-up client for Optimism. Currently, Optimism's only client is written in Go, a programming language maintained by OP Labs. Magi, written in the Rust programming language, is intended to be a faster alternative and provide more diversity to Optimism's cumulative clients. This means more security for Optimism, and also makes it more attractive to a broader group of developers, since they can now program with Rust.

Thanks to Magi, any existing Ethereum runtime client can be compatible with Optimism, and several new projects have already adapted it to achieve client diversity. Magi is still in development and it will likely be a few months before it is fully ready for large-scale use.

Following this, the Optimism team launched Bedrock, another feature to improve customer diversity and network security. These developments are part of a series of updates to make Optimism easier to use, faster, more secure, and ultimately enable interoperability.

What token is beating OP?

COLT is a new token from a paradigm shifting project called the Collateral Network. Collateral Network aims to be the first lending platform that lends money through 1-1 backed real-world assets that are represented on the blockchain by an NFT.

Why is Collateral Network unique?

Getting a traditional loan can be difficult. People who need quick and easy access to money and who own items like super cars, real estate, art, fine wines and rare whiskeys can get loans within 24 hours using Collateral Network. Unlike banks, there are no red tape or credit checks, and the loan is completely private. Collateral Network also sees itself as an alternative to the pawnshop industry, something that still exists but is outdated and can make borrowers feel embarrassed or uncomfortable.

Alternative assets like diamonds and art are great stores of value that help diversify a portfolio. However, liquidity can be an issue and that is where Collateral Network shines as they offer the loans to their community of lenders, which means that real people, not banks, benefit from the interest rates charged and that there is an easy way to make the relatively illiquid, liquid.

More about the future of COLT and the Collateral Network

Collateral Network's COLT recently began pre-sale on $0.01and now it has risen to $0.014. According to their website, the next increase in price will be for $0.168. Industry experts predict that it could increase by 35x during pre-sale, and can go as high as other 100x once it is listed on the main stock exchanges.

Conclusion

Optimism is pushing in the right direction for development and cross-chain operability, but it may take time before the results are truly apparent in both price and on-chain experience.

As a new coin with an innovative idea behind it, the Collateral Network is an exciting opportunity for those who recognize the potential of web3 based lending and crowdfunding. According to experts, COLT has significant upside potential, making it a promising investment for cryptocurrency traders.