The head of Block.one: Ethereum will soon lose its leadership in the DeFi market

  • One of the main lobbyists of the EOS blockchain sees a quick change in leadership in the DeFi market.
  • The head of Block.one rebuked Ethereum developers for the constant transfer of updates.
  • Ethereum network remains under a flurry of activity, pushing fees to new highs.

At least this should happen if Ethereum does not resolve the issue with exorbitant fees, says Brendan Bloomer.

Block.one CEO Brendan Bloomer urged the cryptocurrency community to stop stifling the Ethereum blockchain industry.

Bloomer wrote about this on his Twitter page.

The head of Block.one, the company that creates distributed ledger software EOS.IO, mentioned the inflated commission costs, which ultimately affected the scalability and inflation of the project.

Brendan Bloomer wrote that every day, Ethereum promises updates that are more like EOS, but endlessly postpone them and do not find a practical way to implement. At the same time, EOS delivers technological innovation every month under the scrutiny of a talented global community.

Bloomer’s comments appeared amid commission costs that renewed all-time highs on the Ethereum blockchain.

However, the increase in commissions is far from being unreasonable and is the result of the explosive popularity of the decentralized finance (DeFi) market on the Ethereum blockchain.

Heavyweight market champion

Records were recorded not only in terms of commissions, but also in the number of calls to the Ethereum contract.

According to the analytical platform Glassnode, on September 4, the number of calls to the Ethereum internal contract exceeded 3 million per day. Meanwhile, back in June, the average value of such requests did not exceed 1 million per day.

Although Ethereum is indeed experiencing significant stress due to the high turnover of DeFi tokens, Tether has already announced a method to reduce the load on the network.

The company hopes to solve the problem of inflated commission costs in the Ethereum blockchain network using the ZK-Rollups concept, the essence of which is to collect several transfers at once within a single transaction.

While the largest stablecoin issuer is trying to solve the problem of network congestion, the average commission on the Ethereum network has already jumped to $ 14.5.

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