The Dark Side of Ethereum

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For the last six years, Ethereum has dominated the smart contract landscape and has been arguably the only viable platform for launching decentralized applications (dApps) — due to its sizeable developer community and first-mover advantage. But in the last year, Ethereum’s limitations have begun to show, leading to an exodus of sorts among its once fervent developer community. Here, we take a look at three of the main reasons why developers are migrating from Ethereum to alternative platforms. The Fees Are A Major Barrier If you’ve used Ethereum more than a few times recently, then you may be aware that it has been experiencing something of a gas price pandemic in the last few months. As decentralized finance (DeFi) and stablecoin usage on the platform have skyrocketed in the last year, so too has the average Ethereum transaction fee — which recently reached over $25 a pop and potentially several…

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