Cryp2Gem ALT Report — Part 2

Blockchain Platforms, Interoperability & Scaling

Building crypto thirsty Cryp2Gem community. Searching and researching for blockchain future disruptive innovators.

BLOCKCHAIN PLATFORMS

Without any doubt, we believe in the success of Ethereum and their decentralised network. Ethereum has a huge network and support of developers, first mover’s advantage and adopting in so many fields. There are a total of 351,649 ERC-20 token standard contracts and Ethereum’s token ETH has currently almost 11% dominance. Ethereum 2.0 is being developed which will allow staking, higher throughput, sharding and lower gas cost. Gas cost and network overloads are currently the highest problems in the ecosystem. Ethereum also has bridges with other networks via Ethereum Virtual Machine (EVM) as well as enterprise adopting, even permissioned extensions such as Hyperledger Besu.

Solana’s Ecosystem 2020
Cosmos Network Ecosystem

INTEROPERABILITY

Already mentioned the greatest interoperable networks Polkadot and Cosmos in the previous section. Interoperability is the key to adopting. Cross-chain support within the ecosystem and inter blockchain connectivity as well as interoperability with other chains but also off-chain systems.

SCALING

Layer 2 is a term describing secondary solutions designed to help scale your application by handling transactions off the main Layer 1 chain.
Transaction speed suffers when the network is busy and can make the user experience poor for certain types of DApps. And as the network gets busier, gas prices increase as transaction senders aim to outbid each other. This can make using Ethereum very expensive with very high gas fees. Currently, the ETH price is approaching $1,3k and the BTC is above $40k. All networks are super busy and the transaction volume is massive. $45B 24h volume on Ethereum Network. This makes the network clogged and the gas prices as high as 500 GWEI now. Huge gas prices and clogged network are the reasons why scaling solution matter and are necessary for a healthy Ethereum Ecosystem. Ethereum 2.0 is still far from being developed. The development will take another couple years and who knows how long will the DApp migration take.

Matic Growing Infrastructure Ecosystem (source)

Researchers & fundamental analysts (::) Building crypto thirsty Cryp2Gem community. Searching and researching for blockchain future disruptive innovators.