Decentralized finance (DeFi) and non-fungible tokens (NFTs) are two of the most popular domains in blockchain technology. DeFi bridges the gaps in cross-border transactions, while NFTs bridge the gap between real-world assets and digital assets. The most formidable feature of the NFT-DeFi combo is the ease with which they help to unlock value on the blockchain.
Over the last few years, Ethereum (ETH) and Solana (SOL) have been the leading networks for smart contracts and DeFi. With new alternatives entering the market, Ethereum (ETH) has had to face stiff competition for the top spot. In this article, we discuss the launch of Ethereum’s (ETH) and Solana’s (SOL) latest competitor and the state of the crypto market.
Ethereum (ETH) is its reign over?
There was a time Ethereum (ETH) completely dominated the NFT space and left little to no room for access to its market share to other blockchains. Whilst Ethereum (ETH) still maintains a level of dominance, other blockchains are slowly rising to the occasion and capturing significant portions of the NFT creation market.
The inherent design flaw in Ethereum (ETH) that makes it susceptible to sometimes outrageously high gas fees has made it easier for other blockchains to compete with Ethereum (ETH). This has contributed significantly to a gradual decline in Ethereum’s (ETH) market cap and in the price of its utility token, Ethereum (ETH).
Solana (SOL) could it skyrocket again?
Solana (SOL) was launched in 2017 by Solana Labs Inc, a California-based company. It was built under a more centralized network, unlike its other crypto counterparts. With its lower minting costs and greater speed, Solana (SOL) has become home for a growing number of NFT collections today.
Although this gives it an edge, Solana (SOL) still struggles with issues around its relatively centralized nature. The state of Solana’s (SOL) structure is also heavily influenced by the venture capitalists funding the blockchain, further casting doubt on just how decentralized Solana (SOL) actually is.
Degrain is a revolutionary innovative protocol launches its presale
Degrain (DGRN) will be the world’s first cross-chain decentralized NFT platform. Degrain (DGRN) stands out by incorporating the most important features in a wildly successful NFT protocol and its token. Its presale Phase One has just launched and within 60 seconds, an astounding 11 million tokens sold.
Analyst, Anthony Pompliano, has already taken note of Degrain (DGRN) and sees it becoming one of, if not, the market leading NFT protocol. Cryptocurrency experts have rumored that investors will likely realize significant gains from its current price of $0.01.
With Ethereum (ETH) slowly losing its absolute control over the creation of NFTs, and both Solana (SOL) and Ethereum (ETH) taking huge hits in this bear market, the path looks clear for an imminent Degrain (DGRN) takeover. Degrain is our pick of the month for most likely to see 1000x returns by the end of 2022.
Website: https://degrain.io Presale: https://presale.degrain.io Telegram: https://t.me/degrainio Twitter: https://twitter.com/degrainio
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