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A thread on #crosschain interoperability:
As the #blockchain and #crypto space has grown, more and more people have been left wondering WHY THE FUCK ARE #GASFEES SO EXPENSIVE?!
Thanks @VitalikButerin.
As the #blockchain and #crypto space has grown, more and more people have been left wondering WHY THE FUCK ARE #GASFEES SO EXPENSIVE?!
Thanks @VitalikButerin.
In true #freemarket style, numerous other chains and projects have spun up claiming to be an #ethkiller.
Some have enjoyed success and have grown at an impressive rate.
@cz_binance and his MOUNTAIN OF CASH courtesy of the #BinanceSmartChain
are a great example.
Some have enjoyed success and have grown at an impressive rate.
@cz_binance and his MOUNTAIN OF CASH courtesy of the #BinanceSmartChain
are a great example.
#BinanceSmartChain traffic and transactions hit 70% of that of #Ethereum back in February. Since then, development has accelerated and the ecosystem had exploded.
traffic and transactions hit 70% of that of #Ethereum back in February. Since then, development has accelerated and the ecosystem had exploded.
The number of projects being built on the #BinanceSmartChain has exploded, and shows no signs of slowing down.
Lower transaction fees and faster settlement are a major factor.
And this is without the majority of crypto users knowing it exists.
has exploded, and shows no signs of slowing down.Lower transaction fees and faster settlement are a major factor.
And this is without the majority of crypto users knowing it exists.
If we take #BinanceSmartChain and it's growth as a model, what about other new chains?
What are they, what could happen with them, and how do they all fit together?
and it's growth as a model, what about other new chains?What are they, what could happen with them, and how do they all fit together?
@xdaichain and @0xPolygon are 2 such projects that also seek to solve the gas problem, and bring more utility to their users.
Cross chain compatibility is essential for any new project of this nature, so heres an overview of how it all fits together.
Cross chain compatibility is essential for any new project of this nature, so heres an overview of how it all fits together.
@0xPolygon and @xdaichain transaction fees are not even pennies, and settlement speed is seconds.
Compare this to the hundreds of dollars people often spend to use #Ethereum and it becomes clear where the smart money will move over time if the gas fee problem is not solved.
Compare this to the hundreds of dollars people often spend to use #Ethereum and it becomes clear where the smart money will move over time if the gas fee problem is not solved.
Moving funds across chains is getting easier too, and barriers to entry for new investors are slowly being torn down. https://yostari.medium.com/traversing-the-eth-polygon-xdai-bsc-cross-chain-bridges-cfe3b29d49d4
This thread only covers but 2 new chains in the space. With more offering available from the likes of @Polkadot and @kusamanetwork among others, the future is looking very bright.
#defi is just getting started.
#defi is just getting started.
The growth has been so explosive that even @jpmorgan is showing signs of fear. This fear will not be unique to just 1 bank. https://www.cnbc.com/2021/04/07/jpmorgan-chase-ceo-jamie-dimon-why-fintech-is-a-big-threat-to-banks.html
