Taraxa is a Layer-1 blockchain that focuses on solving practical issues rather than just financial applications and speculation. It aims to offer a purpose-built, fast, scalable, and device-friendly public ledger. Taraxa Consensus provides a secure and transparent ordering mechanism for blockchain transactions, enhancing trust and streamlining operations. The TARA token serves several purposes within the network, including voting, covering transaction gas fees, and staking.

Taraxa is an EVM-compatible smart contract platform that employs t-Graph consensus and utilizes a blockDAG structure to solve real-world problems. It is compatible with the Ethereum Virtual Machine, allowing developers to leverage their existing knowledge of Ethereum smart contracts and tools. Taraxa uses t-Graph consensus to validate and agree on transactions within the network. Unlike traditional blockchains, Taraxa utilizes a blockDAG structure, enabling multiple transactions to be confirmed in parallel and enhancing scalability and transaction throughput. Transaction Jurisdiction and a Concurrency Engine further optimize the platform's efficiency. Users can stake their Taraxa tokens (TARA) to participate in network security and earn rewards.

Taraxa launched via an ICO in March 2021, following seed and private rounds in 2018. In 2022, the developers delivered a stable and secure Layer-1 in preparation for the native token conversion. The team achieved excellent adoption on the Taraxa network with over 700M TARA staked, over 450M TARA delegated, 34 mainnet consensus nodes, and 138 testnet consensus nodes throughout the year. In 2023, the focus is on driving usage and adoption for apps, social listening platform Echo, and Layer-1. The project also has plans to launch the Hype app alpha version and run Hype campaigns in the Taraxa community. There are also plans to develop and publish APIs and SDKs for the Echo social listening platform. The Taraxa network will undertake several initiatives to support the ecosystem, developers, and node operators throughout the year.

The total supply of TARA is fixed at 10 billion tokens, and all tokens were minted in the genesis block when the network launched. The TARA token distribution includes allocations to the seed round, private round, public sale (ICO), Taraxa team, foundation, community, ecosystem, and exchange security deposit.

Taraxa is an interesting investment with a promising future, especially if you want to diversify your crypto portfolio. Its strong fundamentals and technology may attract investors seeking sustainable growth in the cryptocurrency space.

For investors seeking long-term returns, Taraxa is advantageous. Its unique technology, including blockDAG, positions it well for future adoption and utility.

Taraxa has shown strong potential, making it an attractive opportunity for those looking to invest in a project with growth potential. As cryptocurrencies gain mainstream acceptance, Taraxa's innovative approach could make it a valuable asset in an investment portfolio.

Owing to the high volatility in the crypto market, it is impossible to provide an accurate TARA coin price prediction over any timeframe. However, the following factors could offer an insight into the price trends in the Taraxa crypto:

Level of Adoption and On-chain Activity in Taraxa

Increased adoption of Taraxa for real-world use cases, such as in businesses or applications, can drive demand for the token and positively affect its price.

Taraxa Roadmap and Developments

Taraxa's technology and network upgrades, especially those improving scalability and security, can impact its price. Technological advancements often instill confidence in investors.

Crypto Market Trends

The broader cryptocurrency market trends can impact Taraxa's price. If major cryptocurrencies like Bitcoin and Ethereum experience significant price movements, it often ripples through the entire market, including Taraxa.

TARA is the native token of the Taraxa network and has the following use cases:

Pay Gas Fees When Using Taraxa Blockchain

TARA tokens are used to pay for transaction processing on the Taraxa network. This includes executing smart contracts and recording transactions on the blockchain. Users pay TARA tokens as gas fees to incentivize network validators and ensure the smooth operation of the blockchain.

Stake TARA to Secure Taraxa Network

Network participants can stake TARA tokens to secure Taraxa and earn staking rewards. Stakers help validate transactions and secure the network, and they are rewarded with additional TARA tokens as an incentive.

Medium of Exchange within Taraxa Ecosystem

TARA tokens also function as a medium of exchange within the Taraxa ecosystem. Users can transfer TARA tokens to each other for various purposes, such as conducting business transactions or engaging in peer-to-peer transfers.

Trade or HODL TARA

Trade Taraxa coin against other cryptos on the BYDFi Spot Market to profit from changing market conditions and volatility. Buy or sell TARA, or hold the token long-term if you believe in the future potential of the Taraxa project. Remember to make any trading decision in the crypto market only after doing your own research (DYOR).

Heres how you can stake TARA on Taraxa via the community site to participate in the blockchains consensus mechanism and earn rewards:

1. Fund your wallet by buying TARA on BYDFi or other supported platforms and withdrawing your tokens.

2. Visit the Taraxa community site and connect your wallet to it.

3. Create your Taraxa account and pass KYC to start staking TARA.

4. Click Get Started under the Staking box on the homepage.

5. Select the delegator you want to stake your TARA tokens from the list of options. You must delegate a minimum of 1,000 TARA tokens for staking.

6. Enter the number of tokens you want to delegate and click Delegate.

7. Confirm the transaction from your wallet, and sit back and earn rewards from staking $TARA on the Taraxa community site.