Why New Chains Emerge Despite Ethereum Dominance
Despite Ethereum, Solana, Tron, and BSC dominating the Web3 space, new blockchains continue to emerge due to unresolved issues with existing networks. The primary challenges include gas payments in stablecoins, lack of easy fiat off-ramps, and compliance concerns.
Exploring the Latest Blockchain Solutions
- Plasma: Introducing a Bitcoin-secured EVM sidechain facilitating USDT transfers, featuring free stablecoin payments, gas payments in custom tokens, and on-chain cards already in use in Africa.
- Stable: Bitfinex & Tether’s Layer 1 solution with GasUSDT as the native fee token, enabling free P2P transfers, and planning for debit card integration.
- Converge: A Layer 2 solution developed by Ethena & Securitize, leveraging Arbitrum + Celestia, supporting gas payments in USDe and USDtb, ENA staking, and aligning with RWA funds and DeFi protocols.
- Codex: Another Layer 2 platform focusing on stablecoin payments, FX optimization, gas efficiency, compliance, and emphasizing Ethereum compatibility.
- Noble: Initially designed for USDC on Cosmos via IBC, it shifted focus to HyperEVM farming over RWA concerns.
- Arc: Circle’s chain boasting 3,000 TPS, sub-350ms finality, USDC gas payments, optional privacy features, and an anti-MEV roadmap.
All these emerging chains prioritize stablecoin gas efficiency, rapid transaction finality, free transfers, and seamless integration with traditional banking systems.
Will Corporate Chains Revolutionize Payments and Compliance?
The pivotal question remains: Can these “corporate chains” effectively address the challenges of payments and compliance, or will they simply serve as new avenues for discreet financial transactions?
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