iEthereum Value Proposition #11

The Ethereum network needs to get their shit together.

Ethereum is ranked #2 in overall market cap of the crypto currency industry. Only behind Bitcoin. Bitcoin is expensive to utilize. Whether it be on ramps or off ramps, the time to wait for confirmations or the transfer fees themselves.

Ethereum had a chance to improve upon this. In many regards, it was an improvement until the network became so in demand that it became congested and greed took over the network. The biggest value Ethereum brings is the fact that you can build on the network and the ERC tokens are interoperable with the total ecosystem. Again, an opportunity for lower cost transactions within the network. For instance, iEthereum being an ERC20 token would have the opportunity to be a lower cost P2P payment mechanism if utilized amongst the totality of the Ethereum infrastructure. This has not turned out to be the case. This leaves the door open for competition if Ethereum doesn’t get its act together.

As of today, writing this article, sending $20 of Ethereum (0.01 eth) to another wallet is going to cost me 0.0013 Eth, or $2.64. That is a 13% fee.

If I was going to send the same $20 worth of iEthereum (250 iEth), to another wallet is going to cost me $6.49, or 0.0033 Eth. That is 32%.

Good luck in a future functioning Ethereum ecosystem if the value of Ethereum relies on its ability to build on the network yet the tokens that are created and built cost 30% transaction fees in using them. There is no future there. There probably would not be a future with 10% fees either. Just saying.

We will hold out hope with the future promises of the Ethereum developers working on these issues. In the meantime, the value proposition for iEthereum and its low cost transactions involve iEthereum on the other networks; ie iEthereum on Pulsechain (PiEth), iEthereum on Ethereum Fair (iEth Fair) and iEthereum on Ethereum POW (iEth POW).

Whether these chains host less daily volume or are more superior scalable chain is up for debate in regards to why the costs are cheaper. The fact is, they are cheaper and therefore iEthereum is able to be more utilized at this present time on these other networks.

In times like these where people want options, especially when it comes to price, or the cost of goods, a grand value proposition of the iEthereum open source technology is the fact that it currently functions on 4 EVM compatible chains. And if any more Ethereum forks happen in the future; this will create even more options for iEthereum. All with different price structures and consensus mechanisms. What a value proposition!

We highlighted the ability to choose a lower cost network to utilize your iEthereum. However, the value proposition for an ERC20 token that operates on 4 separate chains is greater than a single feature.

What is the value proposition of an erc20 token that is forked with Ethereum and now function on 4 different chains; ie Ethereum, Puslechain, Ethereum Fair and Ethereum POW.

The value proposition of an ERC-20 token that is forked from Ethereum and functions on multiple chains, such as Ethereum, Pulsechain, Ethereum Fair, and Ethereum POW, can vary based on the specific features and characteristics of each chain. Here are some potential value propositions that such a token might offer:

1. Cross-Chain Compatibility: The ability to function on multiple chains allows for greater flexibility and accessibility. Users can choose the chain that best suits their preferences in terms of transaction speed, cost, and other factors.

2. Scalability: Operating on multiple chains may contribute to improved scalability, as transactions can be distributed across different networks. This can help alleviate congestion issues that may be present on a single chain.

3. Community Engagement: Forking from Ethereum and creating tokens on different chains may attract users and developers from various communities. Each chain could have its own unique ecosystem and user base, contributing to a diverse and engaged community.

4. Specialized Features: Each chain might offer unique features or enhancements that cater to specific user needs. For example, Pulsechain may focus on faster transaction confirmations, while Ethereum Fair might prioritize a fair distribution model.

5. Risk Diversification: Operating on multiple chains can be seen as a risk mitigation strategy. If issues arise on one chain, users and developers can still interact with the token on other chains, reducing the impact of potential problems.

6. Tokenomics: The token may have unique economic characteristics on each chain, such as different supply models, staking mechanisms, or governance structures. This can attract users interested in specific tokenomics or yield opportunities.

7. Decentralization: By existing on multiple chains, the token may contribute to a more decentralized ecosystem, reducing reliance on a single blockchain. This aligns with the ethos of decentralization that is often associated with blockchain technology.

8. Interoperability: The token's ability to operate on multiple chains may facilitate interoperability between different blockchain networks. This can open up possibilities for cross-chain transactions and collaborations.

It's important to note that the success of such a token depends on various factors, including the strength of the underlying technology, the community's adoption, the effectiveness of the development team, and market dynamics. Additionally, users and investors should carefully evaluate the security and legitimacy of each chain and associated projects before participating.

iEther way, We see value!