Transaction Fee Efficiency, Ethereum Becomes A Future Promising Ecosystem

Illustration. (Photo: Unsplash)

JAKARTA - According to data from CoinTelegraph, Ethereum's Layer-2 network reduces transaction costs by 15 times compared to Ethereum's Layer-1, making this more efficient for use in DeFi, NFT, and blockchain games.

Based on a report from ConsenSys, Ethereum continues to show developments in blockchain technology adoption in various sectors. One of the main examples is the launch of the Layer-2 network, which serves as a scaling solution for Ethereum.

The use of Layer-2 is a solution to improve and play an important role in Ethereum's evolution. Designed to increase transaction speed and efficiency in blockchain, it is increasingly being adopted by users and developers.

For example, DeFi on Ethereum creates a decentralized financial system by replacing or completing traditional financial services such as loans, insurance, trade, and deposits using blockchain technology and smart contracts.

William Sutanto as CTO OF INDODAX, who is also active in Web3 industry advocacy, comments on Ethereum's superiority as the blockchain with the most validators, beating Solana.

"Ethereum is capable of facilitating new innovations in the financial world, such as DeFi which changes the way we carry out saving and lending transparently without any organization's intervention," William explained at the ETH Genesis Block: The Dawn of Ethereum event, quoted Friday 2 August.

Ethereum, as one of the largest blockchain platforms in the world, has undergone significant changes after the latest upgrade. This upgrade reflects Ethereum's commitment to continuing to innovate and address challenges in the dynamic blockchain and cryptocurrency landscape.

In addition, in the blockchain world. Ethereum is also known for its ability to support smart contracts and decentralized applications (Dapps). Distinguishing it from other blockchains such as Bitcoin, where Ethereum focuses more on digital currency transactions.

Mario, founder of the Web3 Parallax community, said that one of ETH's visions is to focus on DApps.

"The DApss's own arithmetic is being crossed together to continue to be developed, while the network is fast and cheap," he explained

In a similar context, we can see the enthusiasm of Ethereum network developers driven by decentralization properties, where they state that application development in Ethereum can be unlimited. In contrast to building applications at local levels where market targets are more limited, with Web3 developers can target global markets that have greater potential.

Di sisi lain, Yan Zero dari komunitas Belajar DeFi menambahkan, Web3 itu privilege karena arenanya internasional, tidak terlekat pada negara tertentu. Vietnam Web3-nya berkembang, dan banyak project besarnya. Indonesia harus beriman juga, bare minimum Web3 itu bukan di Indonesia, tapi internasional, ungkap Yan Zero.

The prediction of Ethereum ETF also shows positive signs. Ethereum's ETF is expected to experience an increase, driven by new liquidity that continues to enter, especially from the United States market. This will facilitate access to Ethereum and support price stability, which is good news for investors and developers in Indonesia.

Investors from the United States, both institutions and retail, are now easier to buy cryptocurrencies such as Ethereum due to new liquidity entering the financial market. However, there are obstacles related to Ethereum ETF. This ETF does not use Ethereum that is staked, which is a problem for investors, especially institutions.

They are not only looking for capital gains from investing in Ethereum, but also looking to get additional yields from Ethereum staking. Getting additional profits from Ethereum we can get through the US Dollar Cost Average (DCA) technique.

Melakukan teknik DCA di fitur investasi rutin INDODAX dapat mengurangi risiko volatility pasar. Dengan cara ini, investor membeli lebih banyak unit saat harga rendah dan lebih sedikit unit saat harga tinggi, yang dapat membantu menurunkan biaya rata-rata per unit dari waktu ke waktu.

Not only that, INDODAX also offers an Earn' feature that will benefit users from staking. Staking Ethereum on INDODAX will allow users to lock Ethereum in the INDODAX platform. The asset lockdown runs for a certain period of time, and will be rewarded in the form of Staking Rewards.