Is Ethermint the new replacement for ETH?
Digital silver is still in demand today. However, the second cryptocurrency on the market has a number of specific problems that prevent the coin from solving the modern problems of its own users. Yes, of course, the second version of Ethereum should solve most of the tasks. However, there is still a wait until the cryptocurrency is released. But there are already sensible analogues of this project. Next, we will talk about Ethermint, which, in fact, surpasses ETH in many ways. So let’s get started.
More about the Ethermint
Such large companies as Tendermint and Chainsafe System are behind the development of the site. Representatives of fairly well-known enterprises in the industry have developed a unique project, which, however, is based on Ethereum. At the moment, the alpha version of the Blockchain of the new Ethermint network is presented. In addition to ETH, the new platform is based on the Cosmos DK working environments and, of course, the Tendermint Core protocol. At the moment, the platform is fully compatible with Ethereum. But the project is not shy about its own similarity to ETH.
The enterprise directly states that the task of the platform is to refine the nuances of digital silver. The project implements all the functionality used in ETH. We are talking about digital contracts, virtual machines and clients for the convenient use of digital coins. However, there are also differences of their own. The main advantage over Ethereum is the use of the Proof-of-Stake algorithm. Ethereum has yet to integrate this feature into its own platform, while Ethermint is already using a modern algorithm.
Of course, there is still room for improvement. A fairly young project has so far been released in version 0.1.0. For example, at the moment it is impossible to store cryptocurrency, work with retention of value is not yet possible. However, instant confirmation of smart contracts has already been implemented. As well as support for the modern Inter-Blockchain Communication protocol. The IBC standard allows you to conveniently use distributed applications. And as well as create these solutions yourself. The potential for learning about the platform is really great. However, is it worth leaving Ethereum for Ethermint? Let’s figure it out.
Who will benefit from the project?
Among ordinary users who use coins as an investment tool or a means of settlement, Ethermint will most likely be unnecessary. The fact is that this platform claims to be a tool for serious developers. Users who understand the merits of a platform for developing their own applications will definitely appreciate Ethermint. Equipping the project with modern solutions really surpasses Ethereum in many ways. However, not everything is so simple.