Ethereum remains to be struggling to bear the weight of rising crypto adoption; Is Gather Network blockchain’s most undervalued Layer 1 answer?
2021 has been a 12 months of explosive growth for blockchain technology and cryptocurrencies. The emergence of NFTs and DeFi has added beneficiant helpings of rocket gas to the hearth of a quickly rising trade, with the whole cryptocurrency market cap reaching an all-time high of $3 trillion in November.
But the trade’s second-biggest blockchain, Ethereum, is but to observe by way of with scalability promises and continued spikes in transaction charges and elevated transaction finality on it’s community have seen each person and developer consideration trickling this 12 months into Layer 2 enhancements. What’s extra, gamers resembling Solana entered the Layer 1 ring in an enormous means in 2021, seeking to knock Ethereum off it’s throne as the next best blockchain.
But there’s one other blockchain which will nicely have gone underneath the radar in terms of low charges, speedy transaction finality and locktight safety ensures. Gather Network raised $960k in a 25x oversubscribed personal sale back in September 2020 and the crew behind the venture have been constructing continuous ever since; at the moment Gather boasts a completely functioning proof-of-work blockchain that’s poised to welcome a world of blockchain builders and dApp builders into its ecosystem.
The Swiss Army Knife of Blockchains
As a multi-layered platform, Gather appears to be like to disrupt industries resembling Cloud Computing and Digital Advertising, enabling publishers to monetize with out intrusive digital advertisements and concurrently giving each companies and builders entry to dependable and reasonably priced processing energy. But the Gather blockchain, which types an integral a part of the Gather ecosystem, can also be greater than able to supporting the flurry of builders trying for an reasonably priced answer when seeking to tokenize a enterprise mannequin or create the subsequent large dApp.
With good contract assist, EVM and RPC compatibility, the Gather blockchain welcomes these with Ethereum growth expertise, opening the gates for recent innovation away from stifling project deployment fees. The Gather crew lately introduced plans to launch a DEX (decentralized change) as the first of many dApps on the platform and different future developments embrace deploying a layer 2 side chain that’s powered by Gather Masternodes alongside the principal Gather chain.
No More Gas Guzzling
Ethereum has lengthy been a well-liked blockchain for the world’s new age builders to construct on, however it continues to wrestle with capability limitations. As person numbers balloon, so do the numbers related to delayed transaction occasions and sky-high charges; a latest effort to purchase a uncommon copy of the US Constitution at Sotheby’s public sale home noticed a failed transaction value the collective consumers more than $1.5 million in Gas fees, highlighting the painful results of utilizing a blockchain that’s usually operating at close to full capability.
The Gather blockchain appears to be like to climb the ranks as a viable different in 2022 and past, providing quick, cost-effective and sustainable transaction and deployment experiences for each builders and customers. Secured by way of proof-of-work algorithm GTHash, engaged on the Gather blockchain additionally means decrease energy consumption and a lighter carbon footprint; each are necessary to Gather CEO Raghav “Reggie” Jerath, who mentioned inexperienced Bitcoin mining and the significance of minimizing total power consumption associated to blockchain expertise in a recent interview with e-cryptonews.com.
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