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SmartBCH will eat a portion Of eThereum DeFi Market
It is a fact that fees matter and a lot, we saw this when Binance Smart Chain (BSC) was created where new and old projects in the (DeFi) ecosystem deployed the same in the network, why? Much for the ease of usability in the network, low fees compared to Ethereum and speed in confirmations when executing operations.
Unlike Binance Smart chain, Bitcoin Cash side-chain is much cheaper, and completely [after passing the crucial security tests carried out by CoinFLEX] decentralized, inclusive and highly secure.
eThereum is no longer inclusive
Ethereum network is a 'champion' in the smart contracts environment and a whole new experience into decentralized finances, no doubt that ether is the second biggest crypto in the market driving billions of dollars daily. But all that tech behind it, still not inclusive, i call inclusive an ecosystem that can support everyone in the world with nothing to prevent "small and medium' investors to use their services and put money working for them.
The fees are the biggest enemies of small and medium investors, this ones being the people who mostly use the services on ether blockchain, it's impractical to use DeFi with those rates, they are unfriendly and doesn't encourage people to invest on the decentralized market.
And it's here where the SmartBCH can eat some market from Ethereum...
SmartBCH was conceived to welcome all those who need to enjoy the world of decentralized finance and thereby maximize their earnings, as it is known small and medium investors are the ones that move the world of cryptocurrencies the most, and they need a healthy investment environment where they don't lose Values only in fee payments, and beyond, require an intelligent system that doesn't overcomplicate their experience.
The Ethereum network has often caused headaches in addition to the very high fees, but also because the network can often confirm, drop or even abandon a transaction, causing discomfort and loss of value on the part of investors.
This platform has a structural set formed exactly to test the capacity of the SmartBCH network and observe how far its security goes. The simple fact that it is a platform that is not only a bridge to the side-chain but also offers a range of products in their cryptocurrency trading market is another important point.
Important because customers who use CoinFLEX services can also have the privilege of using the SmartBCH side-chain and benefit from all the advantages it provides. It is a growing market and if we look at the development of the Binance Smart chain we can see that in some time the evolution of this trading platform will be notorious. The chunk of transactions that CoinFLEX holds could very well be a positive caste for developing decentralized applications in the SEP-20 format.
And, here we are only talking about a single cryptocurrency trading platform that is directly linked to SmartBCH, as it is the bridge that makes this interconnection between SmartBCH and the Bitcoin Cash mainnet, but we know that Bitcoin Cash is also traded in several other trading platforms. Bitcoin Cash is practically on all cryptocurrency trading infrastructures and those platforms in the future may very well implement trading services in SEP-20 format.
It may seem too early to say this as there's still a lot to tweak on the SmartBCH machine, but if there's one thing that 'lower fees' requirement says it's that they matter enough for any network to work and get more people to adopt it. Taking the example of the Binance Smart chain that has only been on the market for a year and has already pulled the native asset, Binance coin, to historical numbers, it is also worth considering seeing SmartBCH to be a great Boost for Bitcoin Cash.
At the moment it may not seem very likely or futile to say that smartBCH can one day 'steal' the market from the ether giant, but the story will be very interesting to follow especially when projects like Uniswap, SushiSwap etc, which are Automated Maker Market, decide [If they DECIDE], make their fork on the side-chain and lead many investors to bet on SmartBCH and thus allow more people to benefit from the use of its services, taking advantage of the speed and convenience of fees.
Monologue: Many people tend to believe that rates/fees do not matter but wrong, fees do matter because everyone wants something they can trust and at any time can use. SmartBCH will have applications that the use of fees will be extremely reduced, today they are a bit pulled but with the upgrade they will normalize and below average, and will allow investors to put money into projects that are promising.
Another thing, the Bitcoin Cash network is reliable and already has Trust in the market, which is another attraction for investors to decide to put money in SmartBCH,
SmartBCH will surely steal 'market' from Ethereum And time will tell!...