How Altera Network plans to make Web 3.0 and price predictions for 2022

If you’ve ever watched the acclaimed TV series Silicon Valley, then you will be aware of the protagonist’s ambitious plan to create a new internet. Altera Network is also after the same thing, only it plans to use blockchain technology to achieve this dream. To say that the project is new would be an understatement since the presale only ended on 5 November 2021. Nevertheless, it was a successful launch and now is a good time to see whether or not the team can deliver. 

What is Altera Network?

The question of privacy over the internet has become a hot button issue nowadays. Everyone is concerned about how much personal information tech companies gather and how it’s used. Generally, though, the consensus is that these companies know too much about us. That is why people have turned to crypto and blockchain. Here, information is transferred without an intermediary thus ensuring complete privacy. 

However, there isn’t a lot one can do using distributed ledger technologies (DLTs)… yet. Altera Network wants to fix that by offering a VPN, server/domain hosting and decentralized apps (dApps). In short, this is Web 3.0 where no individual or company controls the internet or has access to your private information. 

How it works

While the idea of Web 3.0 is appealing, it faces a lot of challenges. One of them is speed because blockchains can be jammed when transaction volumes soar. Therefore, the native token of the network, $AEN, will be hosted on the Binance Smart Chain (BSC) as well as Ethereum.  

Altera Network also wants to be easy to use and help bridge Web 2 and Web 3. So, it will be accessible through current web browsers such as Google Chrome. Using plugins, a user will be able to use the Altera Network VPN and access all other features. More advanced users can benefit from the inter-blockchain communication (IBC) protocol to exchange various blockchains thanks to the Cosmos (ATOM) blockchain. 

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Tokenomics

Running through Altera Network will be the $AEN token as the native currency on the network. Its contract address on BscScan is 0x9ed1e698f81dabd2fc89406ffdd54951ba35b0a9. There are currently 278 addresses holding the tokens offered during the presale and afterwards to date. 

It will be necessary to gain access to the Altera network as a form of payment. 5 million AEN tokens were created for use on the network as the maximum supply, but the number will decline as some are burned along the way. Burning will create less supply hence artificially raising the value of $AEN. 

How is the Altera project doing so far?

As mentioned at the start, this project is still very new. The presale on PinkSale started on 31 October and was supposed to run until 10 November. 318,000 AEN were made available in the presale for a soft cap and hard cap of 60 BNB and 120 BNB respectively. However, the presale ended on 5 November because the target was reached earlier than expected. 

As you can assume, little progress is yet to be made. In fact, none of the project’s ambitious goals has been completed. At the time of publication, you can only communicate and receive updates from the Telegram group. Other social websites are yet to be created and it’s not even available on DEXTools or popular sites like CoinGecko, Poocoin or CoinMarketCap. 

Is now a good time to invest?

Despite that Altera Network is still new, you can already buy $AEN either on PancakeSwap or the Altera DEX. The problem, however, is that investing in new altcoins is very risky. It has become easy for anyone to create a BEP-20 token and list it on various DEXes so you never know which one you can trust. 

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On the other hand, all crypto investments are inherently risky and you just have to pick your bets wisely. It was launched at a rate of 2,650 AEN/BNB and immediately received a decent amount of attention. However, it’s too early to make future price predictions at this time until we have more information to work with.

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