In the Race for the Blockchain Podium, This Project Is Lengths Ahead
December 21 2021 - 4:03AM
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Ethereum is still struggling to bear the weight of growing crypto
adoption; Is Gather Network blockchain’s most undervalued Layer 1
solution? 2021 has been a year of explosive growth for blockchain
technology and cryptocurrencies. The emergence of NFTs and DeFi has
added generous helpings of rocket fuel to the fire of a rapidly
growing industry, with the total cryptocurrency market cap reaching
an all-time high of $3 trillion in November. But the industry’s
second-biggest blockchain, Ethereum, is yet to follow through with
scalability promises and continued spikes in transaction fees and
increased transaction finality on it’s network have seen both user
and developer attention trickling this year into Layer 2
improvements. What’s more, players such as Solana entered the Layer
1 ring in a big way in 2021, looking to knock Ethereum off it’s
throne as the next best blockchain. But there is another blockchain
that may well have gone under the radar when it comes to low fees,
rapid transaction finality and locktight security guarantees.
Gather Network raised $960k in a 25x oversubscribed private sale
back in September 2020 and the team behind the project have been
building non-stop ever since; today Gather boasts a fully
functioning proof-of-work blockchain that is poised to welcome a
world of blockchain developers and dApp builders into its
ecosystem. The Swiss Army Knife of Blockchains As a multi-layered
platform, Gather looks to disrupt industries such as Cloud
Computing and Digital Advertising, enabling publishers to monetize
without intrusive digital ads and simultaneously giving both
businesses and developers access to reliable and affordable
processing power. But the Gather blockchain, which forms an
integral part of the Gather ecosystem, is also more than capable of
supporting the flurry of developers looking for an affordable
solution when looking to tokenize a business model or create the
next big dApp. With smart contract support, EVM and RPC
compatibility, the Gather blockchain welcomes those with Ethereum
development experience, opening the gates for fresh innovation away
from stifling project deployment fees. The Gather team recently
announced plans to launch a DEX (decentralized exchange) as the
first of many dApps on the platform and other future developments
include deploying a layer 2 side chain that is powered by Gather
Masternodes alongside the main Gather chain. No More Gas Guzzling
Ethereum has long been a popular blockchain for the world’s new age
developers to build on, but it continues to struggle with capacity
limitations. As user numbers balloon, so do the numbers associated
with delayed transaction times and sky-high fees; a recent effort
to buy a rare copy of the US Constitution at Sotheby’s auction
house saw a failed transaction cost the collective buyers more than
$1.5 million in Gas fees, highlighting the painful result of using
a blockchain that’s often running at near full capacity. The Gather
blockchain looks to climb the ranks as a viable alternative in 2022
and beyond, offering fast, cost-effective and sustainable
transaction and deployment experiences for both developers and
users. Secured via proof-of-work algorithm GTHash, working on the
Gather blockchain also means lower power consumption and a lighter
carbon footprint; both are important to Gather CEO Raghav “Reggie”
Jerath, who discussed green Bitcoin mining and the importance of
minimizing overall energy consumption related to blockchain
technology in a recent interview with e-cryptonews.com.
Photo by Paul Felberbauer on Unsplash
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