The ETH gas rose to record-high since 2018, how NGK resolves the gas crisis
Recently, encrypted data company Coin Metrics released a report called “Network status (State of the Network)”, which said applications in in the DeFi area are leading to higher transaction costs in Ethernet Square, which has risen 30.3 percent last week due to the continued increase in transaction demand. Currently, according to data provided by Coin Metrics, the average transaction fee for ETH is close to $0.4, the highest level since mid-2018, causing a huge blow to the DApp of reliance on “low-cost trading “, such as games and collectibles in the ETH network. ETH co-founder Vitalik Butterin also says high fees make the network less secure.
Faced with the high gas cost, the development of ecological application becomes a difficult problem. To help blockchain technology really get into the market and serve hundreds of millions of users, USA International Covenant INC from the United States launched a blockchain project NGK.IO, aimed at creating a blockchain network that can employ large commercial applications.
With the goal of taking into account the performance, security and decentralization of the network, NGK.IO the development of graphene-based underlying technology architecture, a DPoSS consensus mechanism was adopted to produce blocks from 21 voted nodes. There is no need to consume every step of running smart contracts in the NGK.IO like ETH GAS, which makes it possible for users to use Dapp for free. Applications developed in NGK.IO can provide users with free services like traditional Internet products, and then achieve commercial profits through value-added services and advertising.
NGK not only solves the gas crisis, but also lays a solid foundation for application developers in the underlying performance. In the blockchain of the current market, any phenomenal fashion Dapp will cause serious network congestion, resulting in other Dapp of user experience greatly reduced. The extensibility of NGK is as high as millions, and excellent performance ensures that NGK.IO application developers have no worries.
NGK network has created a fair and free world for developers and hundreds of millions of users through technological innovation and support for ecological development in the face of the cost of using Dapp and developers’ worries about the underlying blockchain facilities. It is believed that in the team, developers, communities of continuous efforts, blockchain network is bound to achieve large-scale applications soon!
