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ERN Price Surges 16% As Ethernity Chain Debuts Layer 2 – Crypto News

Published

1 year ago

May 7, 2024

Dripp

Ethernity, an NFT-focused blockchain platform, has announced its new Ethernity Chain network to the public, leading to a 16% surge in the ERN token price. This enormous price leap came soon after the introduction of an innovative Layer 2 solution on the Ethereum blockchain, with strong security measures powered by AI.

The Layer 2 network is entertainment brand focused, and the new improvements make Ethernity Chain the leading platform for brands to move into the Web3 environment on a global scale.

Introducing Ethernity Chain, an ETH Layer 2 with enhanced AI-driven security, setting new standards for on-chain entertainment. All powered by $ERN

Welcome to the Future of Entertainment

A thread 🧵[1/8] pic.twitter.com/ezlWYQVUCA

— ETHERNITY (@EthernityChain) May 7, 2024

Ethernity’s AI-Powered Security and Plug-and-Play Toolkit

The Ethernity Chain’s development centers on its emphasis on advanced AI security functions. The chain’s AI functionalities include integrated Digital Rights Management (DRM) controls that help preserve intellectual property (IP) and address counterfeit asset trading. This type of security model provides a safe environment for global brands and their customers, protecting proprietary data.

Additionally, Ethernity Chain offers a plug-and-play toolkit that intends to reduce the barrier of entry for global entertainment brands that want to operate on the blockchain.

Using no-code tools, companies can seamlessly integrate their IP and grow tokens, digital collectibles, and other Web3 applications such as marketplaces and games.

Lower Gas Fees and Seamless EVM Compatibility

The Ethernity Chain network is designed to be an eco-friendly place for development and utilization purposes, helping to reduce gas fees, promote sustainability, and lower costs. This method is in line with the growing need for eco-friendly solutions in the blockchain, and the initiative’s objective is to attract developers by minimizing economic limitations.

Ethernity Chain is also 100% Ethereum Virtual Machine (EVM) compatible, seamlessly integrating into current standards such as tokens, NFTs, and decentralized finance (DeFi) smart contracts. Such compatibility allows the current developers of Web3 to migrate their projects seamlessly into Layer 2 without much alteration.

ERN Price Surge

Following the announcement of the Layer 2 network, the ERN token surged by 16%, with a live price of $5.19 at the time of writing. The 24-hour trading volume reached over $41 million after rising by 260.76%, reflecting growing investor interest, while the market cap exceeded $106 million with a 15% rally.

ERN/USD 24-hour price chart (source: CoinMarketCap)

At the same time, several new projects will be launched on the Ethernity Chain, along with FanableApp, the marketplace for Real-World Assets (RWAs), and Exorians, a next-gen sci-fi game. All these projects and applications from the key industry teams will exploit the full functionalities of Ethernity Chain and its support.

Ethernity is already known for its collaborations with world-renowned names like Lionel Messi and Shaquille O’Neal, and it plans to develop its ecosystem further with bigger entertainment companies.

Co-CEO Nick Rose Ntertsas pointed out that transforming the platform into a Layer 2 solution will “transform how entertainment brands interact with their audience using Web3 technologies.”