Uniswap Founder: Dapps Will Soon Handle Gas Fees On Behalf Of Clients

Name	Symbol	Market	Market Cap ($)	Algorithm
Solana	SOLUSD	Crypto	82,340,063,302	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Solana

SOLUSD

Crypto

82,340,063,302

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	3.42	1.87%	186.47	186.47	186.48

Price Change

Price Change %

Current Price

Bid Price

Offer

3.42

1.87%

186.47

186.48

High Price	Low Price	Open Price	Prev. Close	52 Week Range
187.36	181.32	182.55	183.05	17.34 - 210.00

High Price

Low Price

Open Price

Prev. Close

52 Week Range

187.36

181.32

182.55

183.05

17.34 - 210.00

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	14:19:26	0.067888	186.47	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

14:19:26

0.067888

186.47

USD

Price x Volume	Volume	Base Symbol	Related Pairs
74,709,889.21	404,352.14	SOL	SOLEUR	SOLGBP	SOLBTC

Price x Volume

Volume

Base Symbol

Related Pairs

74,709,889.21

404,352.14

Uniswap Founder: Dapps Will Soon Handle Gas Fees On Behalf Of Clients

04/03/2024 9:00pm

NEWSBTC

In comments likely to resonate with crypto fans, Hayden Adams, the founder of Uniswap, a leading decentralized exchange (DEX), predicts that network fees will eventually become a background expense for users, much like server costs are today for top centralized applications running on Amazon Web Service and other platforms. Gas Fees Is A Major Pain Point, Mass Migration To Solana, Layer-2 Platforms Taking to X, Adams envisioned a future where decentralized applications (dapps) seamlessly cover network fees on behalf of users. This approach, the inventor adds, aligns with how server costs are currently handled in the current setup, especially among operators of common applications like X or Facebook. Server costs are often considered a hidden expense in the overall business model. However, this can cost millions of dollars monthly, depending on the app’s popularity. Related Reading: Shiba Inu Blasts Into Top 10 Crypto Following 175% Price Surge Presently, the dream of low-fee transactions remains out of reach for some blockchains, particularly Ethereum, the dominant platform for smart contracts. Ethereum is a legacy blockchain that recently shifted from a proof-of-work to proof-of-stake consensus. However, while this was a major shift, the network still struggles with scaling challenges. At optimum, Ethereum can only process 15 transactions every second. Comparing this with current demand only means “gas fees” must be high to incentivize the validator to include transactions in the next block. This high “gas fee” continues to be a major pain point, leading some projects to migrate to alternative networks with faster transaction speeds and lower fees. Solana, a high-throughput blockchain, and layer-2 scaling solutions like Arbitrum have emerged as popular destinations for these migrating projects. This trend is particularly evident with the recent surge of meme coins like BONK and WIF, which have seen significant growth on Solana. Related Reading: Bitcoin Crossroads: Analyst Identifies Level Set To Determine Next Move Unlike Ethereum, Solana and layer-2 platforms relying on Ethereum for security boast higher throughput and negligible gas fees. Accordingly, more meme coin projects are launching on these networks. Here, users can transact without considering the implication of gas fees. In recent weeks, top meme coins, besides PepeCoin (PEPE) or Dogecoin (DOGE), have been launching on Solana. Ethereum Is Working On Scaling Ethereum will implement the Dencun Upgrade in mid-March to combat its scaling woes. The update aims to reduce costs for users interacting with layer-2 solutions significantly. However, this upgrade is just one of the many Ethereum developers plan to implement over time. Eventually, the proof-of-stake network aims to scale processing speeds, allowing it to execute millions of transactions every second through innovations like Sharding. Uniswap continues to lead in popularity, looking at assets under management. So far, Uniswap developers have deployed its solution across other blockchains and layer-2 options, including Arbitrum and the BNB Chain. Feature image from Shutterstock, chart from TradingView

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SOLUSD Solana