XinFin is a unique cryptocurrency with hybrid blockchain technology opted as a solution for crypto users. Ethereum is the first blockchain platform launched in 2015. It is the chief Altcoin among the crypto space. Its low transaction speed and high gas fees turn the developers and investors frustrated.
Flaws of Ethereum Network
Being a well-known blockchain platform with a wide network, ETH fails to serve the users with high transaction speed like other networks. Developers and investors are upset due to low transactional speed and high gas fees estimated for all transactions.
Initially, the gas value was added as an incentive for crypto-miners to develop the network. But the fact is, the gas fee still remains at the peak across 2021. This affected the casual investors to unuse any DeFi platforms for ETH transactions.
In February, one crypto investor shared the payment bill made on ETH platform. He points out a $74 gas fee for a Sushiswap transaction of $75. Ethereum holds developers and investors in large numbers. It supports many projects, applications and on-time services.
— Ran Neuner (Non fungible) (@cryptomanran) February 3, 2021
Moreover, ETH users feel about the long wait as it consumes 10-20 seconds for every transaction. Along with this, users are forced to pay the gas fee added to the transaction. This made the Ethereum users think about moving to an alternative platform with a convenient technological platform.
As an Ethereum user, the co-founder of blockchain tech-focused firms Kadena, Stuart Popejoy shares,
“a deluge of transactions to serve the latest craze, simply because it is attracting more users than your app.”
Advanced ETH network, “Ethereum 2.0” first look launched on December 1st, 2020 creating hype among the ETH users. Now the ETH team and creator Vitalik Buterin wait for the second block which is expected to be launched between 2021- 2022 with an innovative nature to serve the crypto market.
Alternative blockchain Platforms as Quick Solutions
As ETH failed to satisfy the needs, developers and users planned to quickly move to an alternative platform. XinFin hybrid blockchain platform encourages investors to perform transactions in less than 2-seconds. The main advantage of using the XinFin network is, it provides 2000+ TPS with a near-zero gas fee.
XinFin’s projects help users to save time by working in a streamlined manner. It enables businesses to build high performance with unique technological features. XinFin operating system assists speed transactions, security and liquidity for all projects.
Along with XinFin, the supporting blockchain platform is TRON. Tron launches its blockchain platform in 2018 with benefits of 2000 transactions per second, excelling over Ethereum. Tron ranks as a leading payment gateway with 0 transactional costs like PayPal.
However, the current performance of the ETH network disappointed the users. So High gas fees and low transaction speed all such issues must be fixed in the launch of Ethereum 2.0. Only then ETH can wave its flag high in the crypto world.