The Ethereum network is currently congested, as the demand to include transactions exceeds the network capacity.
Due to this, the work's difficulty to be carried out by the validator nodes (miners) is greater, which results in very high transaction costs and the deployment of smart contracts.
Attempting to launch a transaction with a lower price than the one corresponding to the demand may incur hours of waiting and even the transaction not being executed.
This situation will remain until Ethereum develops its version 2.0 to solve its scalability problem.
Considering the usability and financial inclusion, at EthicHub we pay for the transactions of our users as much as possible (except transactions to external wallets)
To operate sustainably and provide a better service to our users, we decided to move our Ethereum operations to xDAI for the following reasons:
- Cheaper and faster transactions
The consensus mechanism of xDAI is the Proof of Authority, which is less expensive for the validating nodes, with which the network commissions are very low in addition to being paid in xDAI (they are USD cents). As there is no bid to include transactions, confirmation times are shorter.
- The same value of the coin
Despite being in 2 different blockchains, 1 xDAI = 1 DAI, so the migration will not be noticed in the value of the user's wallet.
- Liquidity and connection with Ethereum
Thanks to the "token bridges" between Ethereum and xDAI, the xDAIs will be redeemable by DAI at any time.
- Same smart contracts
The experience is similar for users and developers.