Vara Network

VARA Price

What is Vara Network about?

Vara Network is a substrate-based, future-proof smart contract platform that is fast, scalable, and simplifies the creation and deployment of next-generation Web3.0 dApps. It is the first standalone network in the Gear Protocol, a next-gen cloud infrastructure platform that provides an intuitive and frictionless environment for web2 and web3 developers to build complex infrastructure solutions and disruptive dApps for any ecosystem.

What makes Vara Network unique?

Vara is built upon three core concepts: the actor model, persistent memory, and Wasm, a WebAssembly-based virtual machine that runs on all modern browsers. This combination enables faster execution than alternative web2 virtual machines, making Vara a wasm-native hub for innovative protocols that leverage parallel execution and asynchronous programming to deliver leading decentralized products in any segment.

What's the history of Vara Network?

Gear Protocol and the Vara Network were originally created by Nikolay Volf, one of the core developers of Polkadot. In 2021, he began building an advanced layer 1 smart contract platform using Substrate, Polkadot's custom framework. The vision was to create a platform that enables fast and efficient execution of robust, feature-rich dApps in a seamless development environment similar to Web 2.0 development. This was achieved by harnessing the power of innovative technologies like Wasm, the Actor Model, and Persistent Memory. Key milestones include: Q2 2021 - Pre-Seed Round, Q4 2021 - $12 Million Seed Round, 2022 - Intensive Scaling and Development, Q4 2022 - Testnet Launch, and Q1 2023 - PoA Launch, which is a chain candidate for mainnet.

What's next for Vara Network?

The community is currently researching and developing several projects, including intensive testing and improvement of the actor model features in the blockchain space, launching a key stack of dApps in the parallel and asynchronous environment, and developing innovative infrastructure solutions, such as offchain zk actors, including machine learning, independently and with segment leaders.

What can Vara Network be used for?

VARA tokens have core utility features required for the network to operate, including transaction fees, staking, network security, governance, and gas pools for gas reservation. Additionally, contributors to the Gear protocol are exploring the mechanics of distributing a portion of block rewards directly to dApp developers.

Where can you buy Vara Network?

VARA tokens can be traded on centralized crypto exchanges. The most popular exchange to buy and trade Vara Network is Crypto.com Exchange, where the most active trading pair VARA/USD has a trading volume of $2,653.93 in the last 24 hours. Other popular options include Gate and Coinbase Exchange.

What is the daily trading volume of Vara Network (VARA)?

The trading volume of Vara Network (VARA) is $1,045,486.93 in the last 24 hours, representing a 571.40% increase from one day ago and signalling a recent rise in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for Vara Network (VARA)?

Vara Network (VARA) reached an all-time high of $0.2701 and an all-time low of $0.0003645. It’s now trading -99.70% below that peak and 132.50% above its lowest price.

What is the market cap of Vara Network (VARA)?

Market capitalization of Vara Network (VARA) is $4,819,882 and is ranked #1779 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of VARA tokens (5.7 Billion tokens are tradable on the market today).

What is the fully diluted valuation of Vara Network (VARA)?

The fully diluted valuation (FDV) of Vara Network (VARA) is $8,418,428. This is a statistical representation of the maximum market cap, assuming total number of 10 Billion ETH tokens are in circulation today.

How does the price performance of Vara Network compare against its peers?

With a price increase of 104.40% in the last 7 days, Vara Network (VARA) is outperforming the global cryptocurrency market which is up 9.40%, while outperforming when compared to similar Smart Contract Platform cryptocurrencies which are up 4.00%.