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HomeIndustry and AdoptionVara Network's Actor Model to Turbocharge Adoption of Blockchain Applications

Vara Network’s Actor Model to Turbocharge Adoption of Blockchain Applications

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The Vara network’s unique approach stands out as a potential game-changer for improving scalability and execution. A detailed report by Messari confirms this, explaining how the Vara Network’s actor model provides a technical foundation on which new innovative blockchain applications can be built. The project achieves this by introducing new features, including signless transactions, that could greatly increase the platform’s adoption, particularly in the gaming industry.

One innovation that may significantly speed the adoption process is gas reservations, which the Vara Network calls ‘vouchers’. These eliminate the need for new users to buy tokens in advance to engage with apps. This model is very similar to the approach seen in mobile games: the user can begin for free and then pay as they go, but here, all transactions are registered on the blockchain. A number of the Vara Network’s game examples, including Battleship, can be found on the main net.

The Vara Network’s voucher system also unlocks another useful feature: signless transactions. By initially allocating some gas to a smart contract, users can play games without constantly being asked to provide digital signatures to complete each action, as is typical for blockchain games. This smooth integration could be a disruptor for the industry, as it makes it possible to harness the benefits of blockchain technology while preserving the traditional gaming experience.

Vara’s development team boasts solid credentials, with Nikolay Volf, a pioneer at Parity Technologies, serving as one of the platform’s founders. It’s also notable that Gavin Wood, Parity’s founder and the creator of Polkadot, chose the Vara platform to make his first personal investment in a crypto project

High inflation is always a problem in blockchain applications. In order to address this issue, the Vara Network has incorporated an ‘inflation offsetting pool’ in its token economy. In this model, the number of tokens created as rewards for validators are burned during the first year, which will help prevent inflation from rising. After the first year, there will be a community vote on whether the pool should be replenished.

Nonetheless, though inflation should be low for at least one year, the cost of tokens that can be staked will actually rise. According to the Vara Network’s staking rewards page, Vara’s real reward rate is practically twice its nominal reward rate, so by staking now, rewards should nearly double, with an APY of 14% or more, depending on whether the tokens are restaked.

Retail investors can put their money into Vara tokens without worrying about pump-and-dumps or price manipulations, as the coin was listed on Coinbase on September 20, 2023 – a feat few projects can achieve, as the exchange has very high standards. This is because the US has very strict rules, and so few Market Makers work in this market. Market makers mainly make money by trading tokens, which results in a lot of market manipulation, but an MM working in the US must maintain a market-neutral strategy.

Typically, once a crypto project’s coin is launched, its price initially skyrockets and then plummets before stabilizing when new buyers come in. This pattern can be seen in the price changes for the Vara coin as well. When the token began trading in September of 2023, its price spiked to $0.33 per token before crashing to $0.05. Then, a slow ascent began ending with another spike in December to $0.14, after which a more gradual descent began.

From December, Vara’s price fluctuated between $0.06 and $0.11 before spiking to $0.14 again in late March. Over the past 15 days, it has fallen to $0.10, but the price seems to have found solid support at $0.10 cents in the last 7 days and appears to be rising to $0.14 cents again. It is likely that the coin will break through this threshold in the next week and begin rising to the next target of $0.175. The following targets are anticipated at $0.20, $0.24, $0.29 and per Vara. For those who are not US citizens, Vara can also be purchased on Gate.io, though that exchange’s liquidity is much lower than Coinbase’s.

Though the Vara Network is little known, and its coin is only available on a few exchanges, the Vara project is worth keeping an eye on, as its technological innovations could potentially reshape the blockchain landscape in a significant way. With its experienced management team, the platform could potentially emerge as a major player, similar to Solana, and see its token price rise exponentially. Astute crypto investors will surely watch to see if the Vara Network’s innovations begin to be implemented in blockchain applications.

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