Blockchain Technology
High Gas: Ethereum’s Deathblow
It’s coming. But will you be ready for it?
Ethereum is about to receive the deathblow it deserves.
High gas or transaction fees have been a thorn in the side of Ethereum users for too long.
And it looks like other emerging blockchains are about to send Ethereum to the graveyard.
For those that don’t know yet or need a quick refresher:
Ethereum is a cryptocurrency platform that allows developers to create decentralized applications, better known as dApps, through the use of smart contracts. These apps run on a blockchain, which is a public digital ledger maintained by a network of computers spanning the globe.
Their network is vast. Second only to Bitcoin in size.
And with a network size as big as Ethereum comes a major dilemma.
Ethereum is too popular for its own good.
It’s ranked the #2 cryptocurrency on CoinMarketCap. But its size and popularity isn’t the problem.
The problem is that Ethereum is too slow.
And in the financial world, speed matters.
