Cryptocurrency blockchains have been facing a lot of issues with token swaps on different networks. It’s not been easy for investors to swap their tokens across different blockchain networks for prices that are not nerve-wracking. Calyx news…
A new flurry of cryptos is entering the market with promises of fixing this issue. One of them is Calyx Token (CLX). Ethereum (ETH) and Solana (SOL) are the two seasoned protocols that are also trying to fix this issue. Let’s analyze them further.
Calyx Token (CLX)
Calyx Token (CLX) is a permissionless liquidity protocol that’s completely community-focused. It has been created with the major aim of bringing ease to the multi-chain trading with the sourcing of liquidity across different sources.
Calyx Token (CLX), through CalyxSwap is implementing change and allowing for fast, secure and cost-effective multi-chain transactions.It’s going to become very easy for users to simply switch tokens in the same transaction and still get the best price for the exchange.
Calyx Network’s plan is to begin the project execution on the Ethereum (ETH) blockchain. The idea is to add support from other important blockchains as the network grows alongside its community.
Calyx Token (CLX) is also set to be governed by its community members who hold its native token, CLX. As the platform grows in size and value, it will ultimately be governed, in its entirety, by the community, which will always be the main focus.
Ethereum (ETH) is a well-known platform that has the ability to accommodate dApps. Ethereum (ETH) has a vast ecosystem of projects as well as genuine industry leadership. These are some of the major advantages it has and the main reasons why it is at the forefront of the whole industry, sitting comfortably just under Bitcoin (BTC), ranking #2.
All these notwithstanding, ETH is famous for high network fees and slow transaction processing. Averaging just 20 transactions per second while other protocols manage over 50 thousand. The Ethereum (ETH) programmers, headed by co-founder Vitalik Buterin, are currently working hard to try and create an improved network system, Ethereum 2.0. According to the reports, the new and improved platform will have considerably higher transaction speed amounting to almost 100,000 transactions per second.
Solana (SOL) was founded in 2017 by a software engineer named, Anatoly Yakovenko. Since its inception on the crypto-markets, Solana has been “embarrassing” its competitors in terms of speed and unique usability and architecture – no wonder it’s been renamed the “Ethereum Killer”.
Solana (SOL) is currently one of the world’s fastest blockchain. It has the ability to run over 50,000 transactions per second. There are lots of innovative processes that help it achieve this speed. One of them is that it uses Proof-of-Work system which, compared to Ethereum (ETH), Proof-of-stake system is faster, cheaper and less energy consuming, so overall better for the planet too.
Solana’s (SOL) miners are able to make the system go faster by simply verifying the transactions of coins they have already. Also, the proof-of-work (PoW) system used by Solana (SOL) is further supplemented by a proof-of-history system. All of these make Solana (SOL) very fast in transaction processing and very attractive to investors.