I’ve been holding onto Taraxa (TARA) for quite some time now, and honestly, it’s one of those investments that I feel good about. You know when you just have a gut feeling about something, even when the market gets shaky? That’s how I feel about Taraxa.
I first stumbled upon taraxa_project back in 2023, during a wave of interest in « trilemma-solving » and DAG-based blockchains, especially as Kaspa was taking off. It caught my eye because Taraxa is a PoS (Proof of Stake) Layer-1 blockchain with a blockDAG structure, which makes it pretty unique.
What Makes Taraxa Stand Out
There are a few things that made me stick with Taraxa:
1. The Team
One thing I always look for in a project is whether the developers are doxxed, and in Taraxa’s case, they are. The core team is public and seems well-connected in the blockchain space. While this doesn’t guarantee success (nothing really does in crypto), having a team that’s visible and competent definitely helps me sleep better at night.
2. Propositional Value
Taraxa is all about providing a scalable and high-performance blockchain environment. It’s built to handle a lot, and that’s what drew me in. The idea of scalability and performance in the blockchain world is like the holy grail. If a chain can’t scale, it can’t grow. Taraxa seems ready to handle the growth.
3. The Technology
Now, I’m not a tech expert by any means, but I do know when something sounds impressive.
EVM Compatibility: This is a huge deal because it means developers who already work with Ethereum or other EVM chains can easily port their projects over to Taraxa. That’s how ecosystems grow—making it simple for developers to jump in.
Speed: Taraxa boasts 5,000 transactions per second (TPS), near-instant transaction inclusion, sub-second block times, and 3.7-second True Finality. Translation? It’s fast. Super fast.
Low Fees: One of the best parts about Taraxa is how cheap it is to use. Transaction fees are often below 0.00001 cents, which makes it one of the most efficient blockchains out there.
The Challenge of Adoption
Now, let’s be real—adoption has been a bit of a struggle. Like many blockchains, Taraxa hasn’t seen widespread usage yet. There aren’t a ton of dApps, and on-chain activity is pretty low. But here’s where things start to get interesting: they recently held a hackathon and launched a $10 million grant program to spur development and bring more projects into the ecosystem. So, in my view, adoption might just be a matter of time. Sometimes, these things need a little push to get going.
Why I’m Still Bullish
Even with the current low adoption, I’m holding onto my TARA. Why? Because big things are on the horizon. Taraxa launched its mainnet in April 2023, so we’re still pretty early. This is a PoS, EVM-compatible chain with a blockDAG architecture, and the market cap is sitting around $22 million right now. Those numbers alone are enough to catch my interest, but here’s where it gets better:
Next week, the long-awaited native ETH bridge is set to launch on the mainnet. This is huge! The bridge will open up a lot of possibilities for cross-chain functionality, and with that kind of catalyst, I can see the price starting to move.
And it’s not just the bridge. There are some core DeFi protocols about to be unveiled as well. Personally, I’m most excited about Lara_DAO, the first liquid staking protocol on Taraxa. If you’re familiar with how liquid staking works, you know it can bring a ton of Total Value Locked (TVL) to a chain very quickly. That’s when things can start snowballing in terms of growth.
What’s Next?
Taraxa is setting the stage for a major leap forward. Between the ETH bridge, new DeFi protocols like Taraxaswap and Fuzzyswap, and their $10 million grant program to foster the ecosystem, things are moving fast. I see Taraxa as a solid long-term play, especially for those of us who like to get in on low-cap projects before they blow up.
If you’re into low-cap Layer-1s and have been looking for something under the radar, I’d recommend giving Taraxa a closer look. They’ve been building for years, and I think we’re about to see that hard work pay off.
So yeah, I’m still bullish on TARA.
UPDATE AUGUST 2024:
Taraxa price action has been quiet – it barely recovered from the recent market dump.
I just bought TARA more last night, still bullish on it despite the negative sentiment within the community!
Been in those situations where everything feels doomed and over and then one strong candle to turn the vibe around.
Keep in mind that many “core DeFi” protocols are about to be deployed on Taraxa in the near future – Lara DAO, Taraxaswap, Fuzzyswap, Taraxapad, etc.
I can see TARA price recovering soon…and recovery could be violent.
The Risk/Reward ratio definitely looks favorable here, betting on it!
