Ethereum is still struggling to bear the weight of growing crypto adoption; Is Gather Network blockchain’s most undervalued Layer 1 solution?
It has been an explosive year for cryptocurrency and blockchain technology in 2021. NFTs, DeFi and other innovations have added fuel to the flame of an industry that is rapidly expanding. In November alone the cryptocurrency market reached $3 trillion.
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.
Another blockchain is available that might have been missed, and it offers locktight security assurances, low transaction fees, fast transaction closure and low fees. Gather Network, which raised $960k through a 25x private sale in September 2020, has been developing non-stop eversince. Gather now boasts a functioning proof-ofwork Blockchain that will welcome a whole new generation of blockchain developers to its community.
The Swiss Army Knife of Blockchains
Gather is a platform that aims to disrupt the digital advertising and cloud computing industries. It allows publishers to make money without having to display intrusive ads, while simultaneously giving developers and businesses access to affordable and reliable processing power. Gather’s blockchain, an integral part, can also support the flurry developers searching for an economical solution to tokenize a business or build the next great dApp.
The Gather blockchain supports smart contracts, RPC and EVM compatibility. This allows for Ethereum developers to open the doors to new innovation without paying prohibitive project deployment fees. Recently, the Gather team announced plans to launch a DEX (decentralized exchange), the first of many dApps available on the platform. Other future developments include the deployment of a layer 2 side chainThis is powered by Gather Masternodes in addition to 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.
Gather’s blockchain is poised to be a viable option in 2022. The platform offers developers and users fast, efficient, and sustainable transactions and deployment experiences. 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