As 2024 ends, Ethereum records a year-to-date gain of over 70%, falling behind other cryptocurrencies.
Why is Ethereum underperforming in 2024?
Bitcoin remains a market leader due to its stability, while Solana attracts attention with its speed and cost-efficiency. Ethereum faces challenges due to reduced gas burns and the rise of L2 solutions like Arbitrum and Optimism, leading to significant ETH burn reductions and fund outflows.
Enhanced on-chain speed and scalability: Graphite vs. Ethereum vs. Solana
Graphite Network has introduced its L1 blockchain, handling up to 1,400 transactions per second with confirmation times under 10 seconds, surpassing Ethereum. This avoids 'gas bidding wars' and simplifies transitions for Solidity-based developers.
Why Graphite is not just another L1
Graphite uses a Proof-of-Authority consensus model and Polymer 2.0 algorithm, enhancing operational efficiency and reducing energy demands. It offers unique earning opportunities for transport nodes and establishes trust through policy like 'One User, One Account' and Trust Score systems.
The evolution of blockchain involves the emergence of new L1 networks like Graphite, which not only address Ethereum's issues but also create a trust-driven, user-centric environment.
