When you hear that a project support only Ethereum Network what comes to your mind is the high gas fee you will spend to interact with such platform and you will prefer to interact with dApp that supports low gas Networks fee like Polygon, Fantom, Solana or go for Ethereum layer 2 such as Arbitrum, Optimism, zkSync Etc

 Here is why

Ethereum uses transaction processing method known as Proof-of-Work (PoW) and under this method, People that process transactions are called Miners and the cost of being a miner is very high as they too need to invest heavily in getting Machines and Energy to maintain their Miner status. This makes them charge a lot of money for processing transactions.

On the other hand, the likes of Polygon, Fantom, Solana Etc uses Proof-of-Stake (PoS) method of processing Blockchain transactions.

Under this method, people that process transactions are referred to as Validators and the cost of being a Validator is much cheaper than being a Miner. Holding and staking minimum of 32 ETH would make one qualify to be a validator

Proof-of-Stake (PoS) was introduced to solve the problems of Proof-of-Work (PoW)

Proof-of-Stake (PoS) was able to solve Speed issue Proof-of-Work (PoW) and was also able to solve scalability issue Proof-of-Work.

Blockchains using Proof-of-Stake (PoS) such as Fantom, Solana, Polygon Etc are faster considering their Transaction Per Seconds (TPS) and more scalable than Blockchain using Proof-of-Work (PoW) such as Ethereum

Despite all the improvements Proof-of-Stake (PoS) brought to the Crypto space, it still failed to beat Proof-of-Work (PoW) in one area, probably the most important area and that area is SECURITY

Exactly 1 year ago today, August 10, 2021, A White Hat Hacker stole about $610M worth of assets across Polygon Network (Both on DEX and CEX)

The first IDO to be launched on Raydium DEX last year 2021 make the whole Solana Network to be congested with transactions. Same thing happened when SolChick hosted its IDO same last year.

On these two occasions, Validators maintaining the Network has no option other than to shut down the network.

Sigh!!! ETH killers in the MUD

The unbeatable security of Proof-of-Work (PoW) which Ethereum uses has made some people to choose it over Proof-of-Stake (PoS) while many also think Proof-of-Stake (PoS) is still better and this has for a long time causes serious debate among the top users and this is about to result into the fast approaching FORK.

Let's briefly talk about what FORK is;

A fork happens when a change is made to Blockchain Protocol or basic set of Blockchain rules.

Majorly; there are two types of FORK which are Soft Fork and Hard Fork

Soft Fork happened when a Blockchain make adjustments or upgrade its Network for better performances.

 Hard Fork is the real deal here.

5 years ago, Bitcoin was undergoing similar discussion when some “Who is Who" in the space want the Bitcoin Network to be more Scalable and able to process transactions faster, they decided to go for a Hard Fork which brings the existence of Bitcoin Cash from Bitcoin

With this development, Bitcoin Network is spilt into two different chains with BTC serving as the token to cover gas fee on Bitcoin Network while BCH serving as the token to cover gas fee on Bitcoin Cash Network

When this happened then, all holders of BTC were given free BCH in ratio 1:1. This is one of the good Airdrops in history.

BCH traded at $4355 ATH back then in 2017 while BTC was trading around $9,000 then

What will happen if Ethereum is eventually Hard Forked

There is will be Networks on Ethereum with each having their Gas Fee token

The present Ethereum that uses Proof-of-Work (PoW) will continue using this existing ETH or we can refer to it as ETHPoW

The coming Ethereum Network that will use Proof-of-Stake (PoS) will have a new token called ETH 2.0 or we can refer to it as ETHPoS

Good News: There are high probability that holders of the current ETHPoW will get free ETHPoS

Sad News: The Coming PoW may end up only improving the PoW and high cost of Gas Fee remain intact as before.

When this Fork happened, hunters might make profit or loss and this is why Olympio on Twitter shared his own strategy of making profit and not loss (You may read the below tweet)

https://twitter.com/OlimpioCrypto/status/1557445405289365505

Want to know more about what is likely to happen to ETH and its holder after the merge, kindly read this tweet which is what a user opined

https://twitter.com/Montana_Wong/status/1556706440726716416

Disclaimer: These few lines wrote above never constitute a/an Investment/financial advice.

When you hear that a project support only Ethereum Network what comes to your mind is the high gas fee you will spend to interact with such platform and you will prefer to interact with dApp that supports low gas Networks fee like Polygon, Fantom, Solana or go for Ethereum layer 2 such as Arbitrum, Optimism, zkSync Etc

 Here is why

Ethereum uses transaction processing method known as Proof-of-Work (PoW) and under this method, People that process transactions are called Miners and the cost of being a miner is very high as they too need to invest heavily in getting Machines and Energy to maintain their Miner status. This makes them charge a lot of money for processing transactions.

On the other hand, the likes of Polygon, Fantom, Solana Etc uses Proof-of-Stake (PoS) method of processing Blockchain transactions.

Under this method, people that process transactions are referred to as Validators and the cost of being a Validator is much cheaper than being a Miner. Holding and staking minimum of 32 ETH would make one qualify to be a validator

Proof-of-Stake (PoS) was introduced to solve the problems of Proof-of-Work (PoW)

Proof-of-Stake (PoS) was able to solve Speed issue Proof-of-Work (PoW) and was also able to solve scalability issue Proof-of-Work.

Blockchains using Proof-of-Stake (PoS) such as Fantom, Solana, Polygon Etc are faster considering their Transaction Per Seconds (TPS) and more scalable than Blockchain using Proof-of-Work (PoW) such as Ethereum

Despite all the improvements Proof-of-Stake (PoS) brought to the Crypto space, it still failed to beat Proof-of-Work (PoW) in one area, probably the most important area and that area is SECURITY

Exactly 1 year ago today, August 10, 2021, A White Hat Hacker stole about $610M worth of assets across Polygon Network (Both on DEX and CEX)

The first IDO to be launched on Raydium DEX last year 2021 make the whole Solana Network to be congested with transactions. Same thing happened when SolChick hosted its IDO same last year.

On these two occasions, Validators maintaining the Network has no option other than to shut down the network.

Sigh!!! ETH killers in the MUD

The unbeatable security of Proof-of-Work (PoW) which Ethereum uses has made some people to choose it over Proof-of-Stake (PoS) while many also think Proof-of-Stake (PoS) is still better and this has for a long time causes serious debate among the top users and this is about to result into the fast approaching FORK.

Let's briefly talk about what FORK is;

A fork happens when a change is made to Blockchain Protocol or basic set of Blockchain rules.

Majorly; there are two types of FORK which are Soft Fork and Hard Fork

Soft Fork happened when a Blockchain make adjustments or upgrade its Network for better performances.

 Hard Fork is the real deal here.

5 years ago, Bitcoin was undergoing similar discussion when some “Who is Who" in the space want the Bitcoin Network to be more Scalable and able to process transactions faster, they decided to go for a Hard Fork which brings the existence of Bitcoin Cash from Bitcoin

With this development, Bitcoin Network is spilt into two different chains with BTC serving as the token to cover gas fee on Bitcoin Network while BCH serving as the token to cover gas fee on Bitcoin Cash Network

When this happened then, all holders of BTC were given free BCH in ratio 1:1. This is one of the good Airdrops in history.

BCH traded at $4355 ATH back then in 2017 while BTC was trading around $9,000 then

What will happen if Ethereum is eventually Hard Forked

There is will be Networks on Ethereum with each having their Gas Fee token

The present Ethereum that uses Proof-of-Work (PoW) will continue using this existing ETH or we can refer to it as ETHPoW

The coming Ethereum Network that will use Proof-of-Stake (PoS) will have a new token called ETH 2.0 or we can refer to it as ETHPoS

Good News: There are high probability that holders of the current ETHPoW will get free ETHPoS

Sad News: The Coming PoW may end up only improving the PoW and high cost of Gas Fee remain intact as before.

When this Fork happened, hunters might make profit or loss and this is why Olympio on Twitter shared his own strategy of making profit and not loss (You may read the below tweet)

https://twitter.com/OlimpioCrypto/status/1557445405289365505

Want to know more about what is likely to happen to ETH and its holder after the merge, kindly read this tweet which is what a user opined

https://twitter.com/Montana_Wong/status/1556706440726716416

Disclaimer: These few lines wrote above never constitute a/an Investment/financial advice.