NFT Market Heats Up: On-Chain Data Shows Rising Ethereum Gas Fees

industry, which is employed by blockchain platforms such as Cardano, Solana and now Ethereum, uses staking to achieve the same objective. One solution is layer two scaling solutions, which allow users to transact on the blockchain without incurring high gas fees. Layer 2 solutions are built on the Ethereum blockchain, allowing faster and cheaper transactions. These solutions work by aggregating transactions off-chain and then submitting them to the Ethereum blockchain in batches, reducing the gas fees required for each transaction. Another solution is using alternative blockchain platforms such as Binance Smart Chain or Solana.

What is the best alternative to Ethereum?

Fantom (FTM) is a highly-scalable blockchain that is enabled for smart contracts. It has a high throughput and very fast confirmation time for blocks. It's one of the fastest blockchains on the planet that uses smart contracts, in fact. This makes it a top contender as an alternative to Ethereum for 2023 and beyond.

Solana is a top cryptocurrency with a reputation for its scaling capabilities. Solana can hit up to 50k transactions per second and is also known for its low fees. Solana’s capabilities have led to an exponential increase in the number of DeFi and NFT projects building on top of it. This makes Solana a cryptocurrency with more potential than Ethereum in 2023. The ether price is volatile, just like that of other cryptocurrencies.

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But it’s not the first time Ukrainian soldiers have wondered about it. “Supply on exchanges continues to fall as fast as the asset’s fundamentals continue to improve, inviting a bullish outlook,” said Deane. Federal Reserve’s announcement of a plan to taper, or cut back, its $120 billion monthly in bond purchases starting this month.

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However, alternative solutions such as layer two scaling and blockchain platforms offer hope for reducing fees and improving the overall user experience. The first of these potential advantages could also be applied to the stock markets – and, history suggests, to crypto assets such as bitcoin. That’s why so much long-term investment advice is focused on moving cash out of our bank accounts and into stocks and shares that could appreciate over time.

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If any were found, they would be immediately fixed, and they would merely slow down transactions, not compromise the safety of users’ assets. 2022 was meant to be the defining year for the Ethereum blockchain. Ethereum, which is far and away the largest smart contract platform for token issuances, NFTs and gaming, finally completed its much-hyped Merge, being the transition from proof of work to proof-of-stake . Some blockchains have replaced Ethereum, referred to as the L1, layer-1 or base layer, altogether, led by Fantom and other native coins, albeit with some dips from market-high values. The world of crypto changes fast, and a new breed of next-gen blockchain platforms are making their presence felt – including Fantom . Bitcoin and ethereum are the two largest cryptocurrencies globally with market capitalizations of $767 billion and $322bn, respectively.


If you are new to ethereum alternatives assets, read our article on cryptocurrency trading for beginners. Fideuram Chief Operating Officer, Riccardo Negro, offers his perspective on increased institutional interest in Bitcoin, Ethereum and other cryptocurrencies. “We see many institutional investors deciding to buy cryptocurrency and hold it for a long time, for portfolio diversification. And although the price of Bitcoin indicates a period of consolidation for the crypto market, I see cryptoassets playing an important role in the future of the institutional portfolio,” he says.

What is the Ethereum Merge?

The platform has implemented a range of security measures to protect users’ funds and ensure the integrity of the network. This includes multi-factor authentication, biometric login, and cold storage for users’ assets. Each ETP comes with a fixed annual fee of 0.65%, making them the cheapest directly backed bitcoin and ethereum exchange-traded products in Europe. Collectively, they represent approximately 62.9% of the total market capitalization of the 100 largest crypto assets globally. Discover flights that you can buy with Alternative Airlines using Polygon and other payment methods including ‘buy now, pay later’, e-wallets and other cryptocurrencies.

Which cryptocurrency will overtake Ethereum?

ADA is popularly known as the third-generation cryptocurrency that aims to fix some of the problems faced by both Ether and BTC. Its mission is to use blockchain technology and to solve real-world problems while taking a research-intensive approach to development.

Efficiency and energy consumption have been long-held criticisms of how the blockchain processes transactions. Fantom is an open-source smart contract platform built as a blockchain network to rival Ethereum with massively lower fees and quicker speeds. That said, the smaller market cap and FTM price dips make it an attractive cryptocurrency investment, even though it’s anyone’s guess how this innovation race will eventually play out. In contrast, Fantom uses proof of stake validation, so once a trader buys a token to secure blocks within the proof of stake model, their transactions can clear in just one or two seconds. One of the standout features of HedgeUp is its focus on security.