So, we all see the explosive growth of cross-chain projects at this moment. I want to put forward my theory of what this is connected with and what the outcome will be, I also want to highlight several projects in which I trace a huge potential.
The problem of ETH has long been clear to everyone. It is too old and does not have time even for 10% for competitors, POW, huge commissions, slow — that’s its main problem.
At the moment, there are a huge number of other projects that have easily solved these problems and they show explosive growth, let’s take an example of why this is happening.
First, I’ll show you a screenshot that explains almost everything.
As we can see on September 7, there were such commissions on the ETH network, this is not a joke, not photoshop, this is a real screenshot. Users were ready to pay from $ 73 for a simple transaction. All this is due to the problem of scalability of ETH, GAS is formed on the basis of an “auction”, i.e. people are ready to give such an amount of gwei for conducting a transaction.
I don’t know what kind of users they are, probably some billionaires, because an ordinary user simply can’t afford such commissions. All this makes ETH simply unattractive for ordinary users.
The growth of ETH in 30 days is currently 11.3%
Now let’s take a look at cross-chain projects, I suggest considering the growth of Near Protocol, Solana, ADA without a technical justification for each. I will explain why they are growing and we will highlight those that will grow further.
Near ProtocolSolanaADAThe thing is that these projects are aimed at improving interaction with users, lower fees per transaction, faster blockchain and other features.
Let’s see why Solano has turned into such a powerful rocket. It’s all the fault of DeFi, which became a big push for the development of prices, and also added a huge amount of liquidity to Solano, all this made it just a launch pad for rockets that come out on this blockchain.
This is what technologies that improve the main idea of ETH mean. Of course, Solano has further growth potential, but at the moment many analysts consider it overbought.
Of the three, I would single out Near Protocol, which is now just preparing to take off. He recently made a new ATH and is not going to stop. Its advantage over Solano and other blockchains is that it has 100% compatibility with ETH and when users realize that ETH is in the past, all the liquidity will flow into NEAR.
I studied the project and there are a huge number of advantages, starting from a developed, but still new ecosystem with its own swap’s and IDO, ending with its own EVM and a university for WEB 3.0 developers.
EVM Aurora is an excellent development from the team, it allows you to transfer your tokens and even projects to the NEAR ecosystem without much effort. A very powerful team that worked at Google, Facebook and Microsoft gives confidence that their technologies meet all the requirements and will continue to develop.
Imagine what will happen to NEAR when new DeFi projects appear there. Even now, some of them are collecting 20–30 million dollars for IDO and this is just the beginning. I am sure that this system will develop.
My DYOR assumes that the NEAR Protocol has just started its way to the tops. I think that its price by the end of the year will be about$ 50–70 per token with this approach, which they are currently demonstrating.
This is not financial advice DYOR, but my heart is fully with the NEAR team right now.
