XinFin acts as a solution for Ethereum’s slow transaction speed issue. XinFin is an open-source hybrid blockchain platform. XinFin’s native token is XDC. In contrast, the first blockchain platform that launched in 2015 is Ethereum. Among the crypto space, ETH is the Chief altcoin. ETH’s slow transaction speed and high gas fees annoyed many developers and the investors.
ETH’s Slow Transaction Speed Issue
ETH users know that transaction speeds could be accelerated by adding gas to motivate miners. This is considered to be one good move at times of high network congestion. The transaction fees continue to increase with no end across 2021, dealing a significant blow to the potential of ERC-20 projects to operate.
Notably, the crypto users are disappointed, especially those working on cutting-edge projects that provide time-sensitive services. ETH creates each block in 10-20 seconds.
Furthermore, Stuart Popejoy, the co-founder of blockchain tech-focused firms Kadena stated,
”A deluge of transactions to serve the latest craze, simply because it is attracting more users than your app.”
Ethereum 2.0, advanced ETH network first look launched on December 01, 2021, created hype among the ETH users. Now the entire team of ETH and the creator Vitalik Buterin waits for the second look which is expected to be launched between 2021-2022 with an innovative nature to serve the crypto market.
Alternate Solutions for Users
The developers and users are planning to move to an alternative platform because ETH fails to satisfy the needs of the users and developers. Users chose XinFin as the alternative platform. The ETH’s transaction speed could facilitate stimulated miners. This might be a good move during high network congestion.
However, XinFin encourages investors to perform transactions in fewer than 2-seconds. XinFin provides 2000+ TPS with near-zero gas fees. Accordingly, XinFin enables businesses to build high performance with unique technological features.
The users can save time in XinFin by working in a streamlined manner. The operating system XinFin assists speed transactions, security, and liquidity for all projects.
Along with XinFin Blockchain, the supporting blockchain platform is TRON. In 2018 TRON launched its blockchain platform. The main advantage of TRON is 2000 transactions can be done per second. Furthermore, TRON ranks as a leading payment gateway with zero transaction cost like PayPal.
Notably, Polkadot enables cross-blockchain transfers with interoperability and allows transactional scalability by distributing transactions across multiple parallel blockchains. Polkadot uses forkless and future-proof, which can adapt to the new features.
Although, unless significant improvements proposed Ethereum could face the consequence. ETH has a high possibility to get fatigued if the high gas fees and slow transaction speeds continue.