On Wednesday, Psychedelic, the Web 3.0 developer developed solutions for the Internet of Things, launching Terabethia, social networking and demonstrations. Starting with Internet Computer and Ethereum, users will have the ability to mirror and use any Ethereum game that can and cannot be used on the Internet Computer blockchain and vice versa, improve the computer. Internet in a second high -end solution for Ethereum. .

The publication is trying to address the issue of Ethereum usage and gas content. Currently, Computer Internet is using a “gas model” in which developers provide the funds needed to run applications or contracts to use their desks, called “cycles.”

Asked about the technical expertise of the Internet Computer Network, Dominic Williams, founder and chief scientist of Internet Computer developer Dfinity, told Cointelegraph:

“The computer on the network is quite fast. For example, while Solana is the closest competitor in terms of speed, the IC is about 700% faster, offering readings of 250 milliseconds and write / update is 2 seconds.
William said the Internet browser is “more efficient at storing data than many other chains.” While Ethereum currently costs $ 199 million to store gigabytes of data per year, the same amount of storage is only $ 5.52 per year on the Internet. “This allows for integrated ads that actually run on the website, with unlimited potential,” in terms of data or costs, he said.

William added that “limited capacity also means that NFT can be stored entirely in a chain”. He said the Internet of Things was the only blockchain to store symbols that could not be fully utilized in the chain “and the only one that allows free transactions”. He added that “NFT metadata is often stored‘ out of the chain ’, often because of the cost of data and the inability to expand the number of blocks”.

Note: Smart contracts come to Bitcoin via Dfinity’s Internet platform

Last month, the total value locked up on the two solutions on Ethereum reached an all -time high of $ 5.64 billion. Cryptocurrency enthusiasts have traveled to such networks to escape the cost of gas. While the upcoming Ethereum 2.0 update may change its authentication system from proof-of-stake to proof-of-work, it does not solve the main problem of low transaction speeds. , which currently stands at only 30 trades per second. .

Source: CoinTelegraph