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Harmony crypto3/10/2023 This introduces the cross-chain interoperability concept. If one crypto platform delivers better transactional finality whereas another delivers better privacy, crypto users should be able to leverage the best of both worlds. ![]() To fulfill these expectations, blockchain platforms aim toward a future where they complement each other. With the hype around blockchain technology in recent years, expectations have also skyrocketed. Harmony: Improving Interoperability With Cross-Chain Architecture This means that it supports apps built for ETH, further fostering scalability. The ecosystem’s developers used Neon EVM to create a compatibility layer for Ethereum projects on the Solana (SOL) blockchain. It also boasts lower transaction fees compared to the ETH network.ĭevelopers are even more excited about the Solana (SOL) network because of its Ethereum Virtual Machine (EVM) support. Solana (SOL) is a smart contact-enabled, proof-of-stake (PoS) network that boasts the highest throughput in the blockchain industry with an estimated optimal tps rate of 65,000. The Solana (SOL) network has become a formidable rival to the Ethereum (ETH) blockchain, outperforming the older cryptographic ledger in some metrics, including the number of executed transactions. The new upgrade is anticipated to boost the Ethereum network from 30 tps to over 100,000 tps.īut the high gas fees and slow transaction speeds forced projects and developers to shift to more efficient networks like Solana (SOL). The recent launch of Ethereum 2.0 (Merge) is expected to improve scalability by increasing the tps (transaction per second). The rising number of projects on the network caused significant scalability challenges, including high gas fees and slow transaction speed. Yet, the Ethereum blockchain currently enjoys greater popularity among blockchain developers, with over 70% of blockchain projects being Ethereum-based. However, both the Bitcoin and Ethereum blockchains are experiencing scalability problems. ![]() The network was designed to support decentralized apps while handling a significant volume of crypto transactions. The Ethereum blockchain became a step ahead of the BTC network because of its smart contracts capabilities.
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