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Why Ethereum
Ethereum Blockchain: Most Trusted Ecosystem
The Ethereum Blockchain is the most trusted ecosystem for the deployment of blockchain-based projects. It is the second oldest blockchain that has been around for quite some time and its longstanding presence makes this chain dependable. Although Bitcoin is the oldest and most stable blockchain, it is a peer-to-peer exchange medium and does not facilitate the deployment of smart contracts. So, we chose the second-best.
The need for a reliable blockchain comes from the recent Terra Luna crash, which was one of the top 10 tokens. That was a hard lesson for many projects and we do not want to risk that possibility. The same could happen to other newer blockchains. Hence, we decided to pick Ethereum for the deployment of tokens.
Until some time ago, Ethereum was frowned upon for its high transaction charges. But with Ethereum merging with Beacon chain this year, that is bound to change. Although it is slightly more expensive than several others, we firmly believe in the safety and security of the Space Token community. Moreover, once the Ethereum Blockchain deploys the proof of stake algorithm, the transaction costs are expected to drop.
Consequently, considering the current security along with the future possibility of transaction cost reduction, we chose Ethereum over other solutions that might seem cheaper but could go tumbling down.
Last modified 1yr ago