ForexMinute.com – It is not just Bitcoin which is enjoying the perks of moral boosting events now a day. Recently, Karma (formerly known as Karmacoin) has also impressed the investors with its no-nonsense surge that came soon after it switched to X11 hashing algorithm.
The hardfork was first made public on June 27th on Karmashares forum, which alongside also revealed the adoption of automatic checkpointing, time warm limitations, KGW and more. Each and every feature, in some way, was pointed towards filling the existing security lapses in the Karma network. Alongside, the developers also aimed for offering miners an energy efficient alternative, which the new updates are promising to offer.
The utmost optimism created by the Karma team converted into profits eventually. On June 29th, the Karma prices against the US Dollar were bullish and smoothly trended upwards. It indicated an increase in Karma trade volume as well, which ultimately led to more people investing in the Karma economy. On June 30th, the coin price showed an immense rise, which was soon met with an equal fall. Experts thought it to be yet another trick to create enough hype for the currency.
At press time, the Karma is smoothly sailing and is supported by healthy investments. It has surged more than 20% within a week. Meanwhile, there is one more update waiting to add more value to the coin. The Karma team has also announced recently to add a Proof of Stake side-chain called Karmx. This implementation is although going against the speculation of Karma turning into a full POS cryptocurrency. But its developers believe that implementing only the side-chain into the X11 hashing algorithm will be far more secure than other approaches.
The explanations by the team has also been well received by the community, says the recent surges of Karma in the cryptocurrency market. Karma is currently holding the 25th place of the top wealthiest cryptocurrencies and is slowly moving towards better ranks. Only a successful implementation of aforementioned announcements can take them there.
A good time to invest in Karma indeed!
To contact the reporter of the story: Yashu Gola at firstname.lastname@example.org
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