Pearl Crypto Explained: What's Behind the 228% Surge in PRL
Key Summary
Pearl crypto has surged 228% in a month, with its price jumping from $0.59 to $2.10, sparking interest and confusion in the community. The L1 blockchain, built on Bitcoin's code, uses matrix multiplication for mining and has potential for AI applications, but its supply and thin order books raise concerns about its long-term sustainability.
Introduction
Pearl crypto has seen a significant surge in its price over the past month, with its value increasing from $0.59 to $2.10. This 228% jump has sparked interest and confusion in the community, with some questioning what exactly Pearl is and what's behind its rapid growth.
Background
Pearl is a L1 blockchain that launched in April, built on Bitcoin's code. Its mining process uses matrix multiplication, which is the same math used by GPUs to run AI models. This allows for fast and cheap verification of transactions through Zk proofs.
Mining and AI Applications
Miners on the Pearl network can earn PRL by solving matrix multiplication puzzles, which is a more energy-efficient process than solving SHA-256 puzzles used by other blockchains. However, not all mining on the network is