PRESS RELEASE. While Ethereum has given way to a brave new world of decentralized financial applications that are completely permissionless, accessible and groundbreaking in many ways. However, it has done so on an experimental basis and with great costs. Ethereum provides a foundation on which these decentralized applications can be built upon but it is not ready for worldwide spread adoption.
Simple transactions on the Ethereum network can cost upwards of $10 and interacting with smart contracts can even be several times more expensive. While Ethereum’s undeniable success has allowed it to garner a powerful DeFi community, and massive volumes both in decentralized trading and total value locked (which currently sits close to $40B in total) its infrastructure is simply not ready for widespread use. When the network is highly used, congestion leads to block space competition which drives up standard gas fees.
This is where NEXT.chain comes in. Building on the shoulders of giants like Ethereum and Bitcoin, NEXT.chain has taken the best of both worlds to create a DeFi-ready chain that can be leveraged by companies and typical users alike for all their decentralized finance needs. From permissionless trading, to decentralized asset issuance (with a few clicks of a button), and the creation of DAOs or NFTs.
Why NEXT.chain is the next big thing in DeFi
So what sets NEXT.chain apart from its competitors? Well, the project is leveraging a decade long history of well-known and tested technology, building on Bitcoin-core, but expanding it with multiple new features and characteristics such as Proof of Stake consensus mechanism complete with Masternode network of over 200 peers of validation for quicker transaction speeds and privacy-enabled transfers (up to 10,000 transactions per second).
It also allows it to draw from the Bitcoin mining community by providing a merge mining option that will incentivize both…