iEthereum Value Proposition #9

iEthereum Simple Code Efficiency

iEthereum has 155 lines of simple open source code.

Polygon has complicated code with 24 files and thousands of (2866+-) lines of code with numerous amount of features.

Raiden has 653+- lines of code with various functions.

These are just a couple of examples of such layer 1 technologies that exist on the Ethereum network. Polygon is the trending popular cool kid on the block. Raiden is lesser known than Polygon yet more commonly known than iEthereum.

iEthereum is not technically considered a layer 1. But we suggest that it is. We are not here to say which is better, which is not.

Each network, has its own value and reasons for existing. This could be good or this could be bad. A token created for a more specific or niche purpose will have more lines of code. What we are saying is that 155 lines of code, ie iEthereum will be more secure, less risk, more transparent, cheaper, much more efficient and fast than any other code with 156 lines of code or more for transfers, network interactions, development and token creation such as the intent of general layer one technologies.

It is of my opinion that many token projects misunderstood the intended purpose of Ethereum the past 10 years. Many projects are trying to solve the problems that exist with Ethereum by misdiagnosing the issue. Rushing to market with a product. This may solve temporary stop gaps. And in fact, this may be a good thing. These actions lead to the overall industry developing infrastructure. With this said, this also can lead to miscalculation and error.

For every line of code that you add for functionality of purpose or utility; you bring unnecessary folds that are more easily exploited. The more unnecessary function you add to the code leads to greater barriers of entry for projects looking to develop on your network. These barriers to entry could be greater risk, slower speed, cost, shadow authority and control just to name a few.

This is where my opinion of iEthereum is that of a genius that chose to utilize the human standard token code. They understood the future. This token is simple and efficient. It is open source, transparent and carries less risk.

Can it do everything? No it cannot. Nor does it want to, in my opinion.

I see the iEthereum code was created with two functions in mind. 1) peer to peer payments or B2B value transfer and 2) to allow other token projects via token factory to be created, built and deployed with the choice to customize function off a general standard of base open source code.

The iEthereum code is simple, safe and efficient. It has been audited thoroughly and runs very little risk. iEthereum leverages the interoperability of the greater EVM as the basic infrastructure; ie site utilities, power, water, sewage, electrical and plumbing. iEthereum then is able to use the public Ethereum blockchain as it exists today as the foundation to make it stronger, more stable with less risk. iEthereum deployed creates a layer as the sub flooring (metaphor) in which everything else builds on top of. This makes way for all the future contractors (developers) to custom build and showcase their skills and craft; ie framing, windows, carpentry, cabinetry, painting, roofing, etc in sequential steps verses putting the roof on before the foundation as many other token projects are currently doing.

What is the value proposition of an ERC20 token, ie iEthereum that has efficient and simple code?

The value proposition of iEthereum with efficient and simple code lies in its ease of use, security, and cost-effectiveness. Here are some key points that highlight the advantages:

  1. Ease of Integration: Simple and efficient code makes it easier for developers to integrate iEthereum into various applications, platforms, and smart contracts. This can reduce development time and costs, making it more attractive for projects seeking quick and straightforward implementation.

  2. Reduced Security Risks: Simplicity in code often translates to fewer potential vulnerabilities and security risks. A streamlined codebase is typically easier to audit and maintain, reducing the likelihood of bugs, errors, or vulnerabilities that could be exploited by malicious actors.

  3. Lower Gas Costs: Efficient code can result in lower gas fees on the Ethereum network. Gas fees are transaction costs paid to miners for processing transactions and executing smart contracts. If the code is optimized, it can execute transactions more quickly and with lower computational resources, leading to cost savings for users.

  4. Improved User Experience: A token such as iEthereum with efficient and simple code can provide a better user experience. Transactions can be processed more quickly, and users may encounter fewer issues related to the functionality of the token. This can enhance the overall usability and acceptance of the token within the community.

  5. Easier Upgrades and Maintenance: Simplified codebases are generally easier to maintain and upgrade. This can be crucial for long-term viability as the technology landscape evolves. The iEthereum token with efficient and straightforward code can more easily adapt to changes in the Ethereum network or implement improvements without introducing unnecessary complexities.

  6. Community Trust: Projects that prioritize simplicity and efficiency in their code may gain the trust of the developer and user communities. A clean and well-documented codebase fosters transparency, making it easier for external parties to understand and contribute to the project.

In summary, the value proposition of the iEthereum token with efficient and simple code revolves around ease of integration, enhanced security, lower transaction costs, improved user experience, and long-term maintainability. These factors can contribute to the success and sustainability of the token within the blockchain ecosystem.

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Note: We are not the founders. iEthereum is a 2017 MIT Open Source Licensed Project. We are simply talking about this project that nobody else is while it is publicly listed on several coin indexes.

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