What Is Juno Crypto (JUNO) How It Works & Where To Buy It?

Juno is a community-owned sovereign blockchain that hosts a rapidly-expanding ecosystem. The Juno blockchain in the Cosmos ecosystem facilitates interoperable smart contracts and smart contract deployment. This allows developers to securely launch smart contracts in various languages in a streamlined way.

JUNO tokens power all transactions that take place on the blockchain and JUNO is also the governance token of the Juno Network.

JUNO is the 141st largest cryptocurrency by market capitalization.

How Juno Crypto (JUNO) Works

Juno blockchain was created using Cosmos SDK and it positions itself as a global permissionless network that is optimally catered to decentralized applications.

Essentially, on Juno developers can deploy their apps in various languages with Rust being the language their decentralized applications will be deployed in.

Juno blockchain achieves this level of integration and enhanced functionality through CosmWasm. It hopes to increase the adoption and development of CosmWasm by pioneering this.

Juno’s efficient model seeks to reduce typically bottlenecked Layer-1s and improve the scalability and efficiency without reducing network security in any way. The smart contract platform particularly chose CosmWasm and Rust because they feel that even though it is more time-intensive, it is much more secure than Solidity.

The aim is to seamlessly offload smart contract deployment and create interoperable cross-chain smart contracts – positioning itself as the ”sister hub” of the Cosmos hub.

The Cosmos SDK has become especially popular as of late because it allows developers to build customized blockchain with varying functionalities, while still benefitting from the network security of Cosmos.

Juno uses Tendermint Consensus to reach an agreement on the network – this ensures rapid transactional finality while still benefitting from enhanced network security.

Juno claimed that its contract modules are ”battle-tested contract modules” that are more than capable of performing optimally and reliably.

The Juno team has already built an ecosystem that currently hosts more than 50 decentralized applications and thousands of DAOs (decentralized autonomous organizations).

Juno’s on-chain governance is handled through the DAO, and all JUNO holders have voting rights to any proposals and upgrades.

What Is Juno Crypto (JUNO) Used For?

JUNO didn’t have a private sale and all the JUNO and all ATOM stakers (46,000 ATOM stakers) were airdropped JUNO tokens. The genesis supply facilitated a 30,663,193 stakedrop (47% of the total initial supply) to ATOM stakers – 20,000,000 JUNO tokens were also allocated to the community pool.

By not having any pre-sale seed sale or initial coin offering (ICO), JUNO avoided potential legal limitations and ensured the network remained decentralized. The sovereign public blockchain has amassed a significant following and has frequently featured in global crypto news.

The JUNO price is determined according to the relevant supply and demand in the market, and after the Juno Network DAO approved a proposal to revoke millions of tokens acquired by a JUNO whale (a whale is a person or business that holds large amounts of a certain cryptocurrency). The whale managed to acquire these tokens illicitly and posed a significant economic and governmental threat to the Juno Network.

Where To Buy Juno Crypto (JUNO) Tokens

JUNO tokens are among the most frequently traded cryptocurrencies – JUNO is listed on a few major cryptocurrency exchanges. JUNO tokens are subject to significant price volatility like the majority of cryptocurrencies.

Before purchasing JUNO tokens, users will need to deposit fiat money onto an exchange, sequentially, JUNO tokens will be credited to their JUNO digital wallet on the exchange.

The crypto exchanges below are the safest place where you can buy, sell and store cryptocurrency tokens.

1. Gate.io
2. HTX
3. KuCoin
4. Binance
5. Crypto.com

About Juno Crypto (JUNO)

How long has Juno Crypto (JUNO) existed?

The initial launch of the Juno token was on the 1st of October 2021. Since listing, the price of JUNO has experienced a significant amount of price volatility.

Currently, JUNO is less than 50% of the price it was listed at – it should be noted that most newer projects experience significant price decline when there is bearish sentiment in the market.

What’s controversial about Juno Crypto (JUNO)?

There are so many unique crypto projects entering the crypto space daily. The majority of these projects aim to solve real-world problems. However, most of these projects aren’t as transparent and credible as they so often claim to be.

Additionally, it’s important to remember that there’s a notable lack of crypto regulation, and given the decentralized nature of crypto, investing in certain projects can be particularly risky.

Over the years, there have been hundreds of ill-intentioned projects that have managed to swindle billions of dollars out of unsuspecting and unknowledgeable crypto investors. This often occurs because the majority of retail investors don’t do enough research – too often these types of crypto investors just plunge into a project based on hype.

It’s essential to have at least a basic understanding of any project, its functionality, use cases, and more. Before investing in any crypto project, make sure you take the time to learn – this is called Fundamental Analysis.

Let’s take a look at the top controversy surrounding JUNO Crypto (JUNO):

• JUNO blockchain competition – The blockchain space is populated with an array of layer-1 blockchains. Many of these projects have already amassed a significant amount of token holders and users. While JUNO definitely brings a considerable variety of value proponents to the table, the success of the project isn’t guaranteed’.

  The Cosmos ecosystem is growing rapidly but its size is still relatively small in comparison to other ecosystems. This factor can be directly linked to why projects in the Cosmos ecosystem don’t grow as fast as projects in a flourishing ecosystem like Ethereum.

How many Juno Crypto (JUNO) Tokens are there?

At the time of writing, JUNO has a circulating supply of 51,282,307.10 JUNO.

The total supply of JUNO is 70,424,332.

The max supply of JUNO is 185,562,268.

Can Juno Crypto (JUNO) be mined?

JUNO is a mineable cryptocurrency. JUNO operates on the Cosmos blockchain which makes it a mineable currency.

Individuals looking to mine cryptocurrencies can utilize websites such as unmineable.com for a simple and cost-effective way to mine. Additionally, some DeFi platforms also allow users to stake JUNO token and earn rewards.

What is the market cap of Juno Crypto (JUNO)?

Juno Crypto (JUNO) market cap = total amount of coins in circulation x current market price of JUNO.

Juno Crypto (JUNO) Market Cap = 51,282,307.10 JUNO x $6,04 = $309 million.

JUNO is currently one of the top 150 cryptocurrencies by market capitalization – Juno achieved its largest market cap of $3,03 billion on the 3rd of March, 2022.

Biggest Competitors Of Juno Crypto (JUNO)

JUNO has a predominant interest in the decentralized application space and therefore when comparing its competitors it’s essential to focus on blockchain projects that are seeking to help other projects deploy decentralized applications and DAOs.

The JUNO token is used to power all actions in the JUNO ecosystem, including the purchase and trade of digital assets, paying for transactions, and more.

JUNO Crypto’s biggest competitors are:

• Ethereum
• Secret Network
• Agoric
• Wanchain

What Are The Future Plans For The Juno Network And JUNO Token

The Juno Network, which has become an incredibly popular project, has continued to focus on growing its ecosystem as much as possible. The recent growth of the protocol can be linked to the project’s unique value proponents.

Juno allows other projects to deploy and thrive in an interoperable environment. What follows next is likely to be among the most game-changing moves, if Juno manages to achieve what it has set out to do. Juno has announced its intention of achieving cross-functionality with multiple DeFi products.

Essentially, individuals would be able to stake X token and receive various reward tokens from other chains and ecosystems.

Pros And Cons Of Juno Network and JUNO

Pros:

• Decentralized governance – The Juno project has differentiated itself in many ways – one of the most significant ways in which Juno is different is its governance. Juno’s protocol handles decision-making through a decentralized autonomous organization (DAO).
• Diverse interoperability – Using Juno’s specific interoperable smart contracts, DApps can quickly deploy on Juno’s network – regardless of the language they used to code their DApps. Juno’s CosmWasm helps developers deploy their apps in Rust, and ensures that DApps are interoperable across multiple chains.
• No private sale – Juno didn’t have any private sale for the JUNO token. Instead, ATOM stakers were airdropped JUNO tokens.
• One of the top projects in the Cosmos ecosystem – Juno has quickly grown to become one of the most popular and appealing projects in the Cosmos ecosystem.

Cons:

• Small ecosystem – Juno may be a part of the fast-growing Cosmos ecosystem but it should be noted that the Cosmos ecosystem is still relatively small compared to the likes of the Ethereum ecosystem.

  Additionally, the Juno ecosystem’s success depends on the success of the Cosmos ecosystem to a large degree.

• Relatively new – The Juno project was initially launched in October 2021 and has yet to cement itself as a top project in the crypto space. It takes projects a considerable amount of time to become firmly established in the market, grow tools and communities and bolster user adoption.