HUH Network Aims to Join Fantom as Ethereum Blockchain Competitor
Ethereum is the second largest cryptocurrency in the market for several reasons. And over the years, the network has proven that its alternative blockchains have an edge. As a result, blockchains competing with Ethereum do not need to compete before they can register success.
The Ethereum blockchain has so much value to pass on to these alternative networks that they are still a safe bet for anyone looking for a smart buy in the cryptocurrency market. HUH Network (HUH) is a new Ethereum alternative blockchain and could be one of the biggest projects the market has seen when it launched.
Ethereum is a decentralized computing platform network that is open source. The Ethereum network, like the Bitcoin network, is based on blockchain technology, essentially a digital public ledger in which financial agreements can be verified and stored entirely by software – without the intervention of a third party.
But the network can do more than handle financial transactions that excite users and enthusiasts. Ethereum extends the Bitcoin blockchain by allowing developers to run programs (called “smart contracts”) that can host any decentralized application (called “dApps”).
The Ethereum blockchain started developing issues after the DeFi explosion. This caused network congestion and, as a result, increased transaction fees and processing times. Considering that Ethereum is a network that is poised to get even bigger and up to bitcoin, as some users suggest, there was a need for a scalability solution.
Alternative blockchain solutions like Fantom, Avalanche, etc., have started to develop as Ethereum-compatible blockchains with the basic functionality offered by Ethereum.
Fantom (FTM) is the world’s first smart contract platform based on Directed Acyclic Graph (DAG). Compared to the Ethereum blockchain, this fourth-generation blockchain offers blockchain developers and users significant improvements in functionality and usability.
In addition to its infrastructure goals, Fantom aspires to be the best DeFi (decentralized finance) platform on the market. The network provides some popular features, such as peer-to-peer staking and lending. Fantom hopes to capture some of Ethereum’s DeFi market share in the coming months in this way.
Fantom was created to solve the problems that Ethereum blockchain users and developers face today. The goal of the network is to build a secure and scalable decentralized network. The development team succeeded in this regard. As a result, Fantom can offer near infinite scalability and instant transactions at no cost.
Fantom is ditching the power-hungry Proof-of-Work (PoW) consensus mechanism used by early cryptocurrencies like Bitcoin and Ethereum. With this strategy, the network can validate its state using less energy. Finally, this approach makes Fantom more environmentally friendly and sustainable.
Fantom’s low fee structure is one of its main advantages in the market. Users can send transactions for a fraction of the price currently charged by Ethereum. This micro-fee strategy also benefits blockchain developers by allowing them to provide their services at a lower cost.
HUH Network (HUH) is a new cryptocurrency solution encompassing a new blockchain network, a decentralized exchange platform and a wallet service. You don’t often find new blockchain networks launched in the cryptocurrency market due to the complexity of a new network. Projects always prefer to build their solutions on blockchains like Ethereum or BNB smart chain.
HUH Network is promising as it promises to offer cutting-edge solutions that span DeFi, NFT, and the metaverse. Additionally, the blockchain network will enable transparent, instantaneous, and low-cost transactions and will have EVM compatibility, making it an alternative Ethereum blockchain. And if there is anything we know about Ethereum alternative blockchains, they are one of the most successful blockchain solutions in the cryptocurrency market.
HUH Network’s native token, HUH, will be on presale soon. You can earn between 10% and 20% bonus tokens with ETH, BNB, SOL and a few other cryptocurrencies, with DOGE and SHIB having the highest bonus rate. There are also different bonus rates for purchasing in the early presale stages. However, the most rewarding bonus is buying with $2500 in fiat currency and getting a 40% bonus HUH tokens.
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