Anyone familiar with the current state of the DeFi sector will tell you it’s suffering from multiple issues. These issues are the direct result of centralization in the market. In the early days of DeFi, developers flocked to Ethereum as the blockchain of choice to launch their new platforms. This concentration of efforts, unfortunately, led to scalability and congestion issues.
Ethereum is a Proof-of-Work blockchain. These networks are the earliest form of blockchains in the market. Ethereum is only slightly faster than Bitcoin at around 13 transactions per second (tps). The reason Ethereum’s network is slow is due to how the PoW mechanism functions.
In a PoW network, all the nodes (miners) compete to answer a complex mathematical equation. While all the nodes confirm the state of the network, only the one who answers the equation correctly first gets to add the next block of transactions to the blockchain and receive a reward. This setup is very secure but doesn’t scale well.
Rise of DeFi and NFTs
Ethereum in particular was built to utilize an internal fees structure known as Gas Fees. These fees are the cost of executing smart contracts via the Ethereum Virtual Machine (EVM). The developers integrated a fee structure that would increase whenever the congestion of the network increased. The goal behind the concept was to make it not fiscally beneficial to spam the network.
What Etherum's developers were unable to predict was the sharp increase in market usage that occurred due to the sudden rise of the DeFi and NFT sectors. The unexpected boosts in the number of these platforms left the network sadly congested. This congestion then shot the gas prices through the roof. Today, it costs more to complete an Ethereum transaction than any other blockchain. These high gas fees and transaction delays have cost developers and users greatly.
Alternatives Emerge In the Market
The current state of the network has helped to spawn interests in alternatives in the market. One blockchain that has seen considerable growth as a direct result of Ethereum users fleeing record-high fees is Tron. Tron is the brainchild of a well-known entrepreneur and Jack Ma protégée, Justin Sun. The network was originally built to power next-gen Web3 applications and provide a scalable alternative to earlier blockchains.
Tron Offers More
Tron's blockchain is far more capable than Ethereum. The network was built to support more complex smart contracts. These protocols can execute at a fraction of the gas fees imposed by Ethereum. For example, Tron can support 2000 tps, whereas Ethereum can only handle around 13 tps. Consequently, Tron is ideally suited to handle the growing demands of the DeFi market.
Tron DeFi Takes Flight
Of course, Tron still lags behind Ethereum's network in terms of available DeFi platforms. However, the introduction of full spectrum DeFi Ecosystems like MrWeb Finance helps to level the playing field. MrWeb Finance integrates the top features and services from the DeFi sector and provides users a more cost-efficient and scalable way to interact with these options.
MrWeb Finance Passive Rewards for Users
Users can stake, yield farm, and liquidity mine using the platform. Staking is one of the most popular ways for DeFi users to secure easy profits. The main difference between staking and yield farming is that staking has pre-set lockup periods. Farming usually pays lower rates but doesn’t require you to leave your crypto locked for a specific time.
These options allow new users to earn healthy ROIs without spending weeks attempting to understand the nuances of the market. You simply lock your funds within a smart contract to start earning rewards. Compared to the research-intensive nature of trading, these options are ideal.
MrWeb Finance Makes it Easy to Earn
Of course, staking and farming can be very confusing to anyone new to the DeFi sector. These terms can seem like a foreign language if you are unfamiliar with the cryptomarket. Luckily, MrWeb Finance was built from the ground up to remove all the technical barriers associated with these actions.
You won’t need to scroll to AMMs and other DEXs to stake your tokens. All the core processes can be handled directly from the MrWeb Finance interface. Users can scroll through the staking and farming options. Here, you will see the time requirements and your rewards. The entire process is user-friendly and only takes minutes to get started.
The Best Rates in Town
One of the main draws for MrWeb Finance is its aggressive rewards program. The developers behind the project started that they intend to offer the highest staking and farming rewards available in the DeFi sector. This strategy is possible because of the added savings the Tron blockchain adds to the equation.
Make the Change from Ethereum-based DeFi to MrWeb Finance and Save
One of the main issues facing non-Ethereum DeFi platforms is the difficulty it takes to convert your ERC-20 tokens over to other blockchain assets. DEXs such as Uniswap make it easy to convert ERC-20 tokens to other ERC-20 tokens, but they provide no way to convert your digital assets to other token standards such as TRC-20.
Recognizing this fact, MrWeb Finance intends to launch a Token Bridge protocol directly. This mechanism will simplify the process significantly. You won't have to pay for multiple transactions and the process will not require you to conduct transactions across multiple platforms like it currently does. Removing the technical barriers from this process will help MrWeb Finance offer its services to more users.
MrWeb Finance Users Gain a Lot of Benefits
Those seeking to explore the MrWeb Finance ecosystem can find out more information here. The network's native utility token, AMA is currently available on the popular Justswap exchange. The token will see more listings in the coming weeks as more users migrate to Ethereum alternatives to escape the record high gas fees.
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