Wednesday, May 12, 2021

Should Basic Attention Token (BAT) Move from Ethereum to Cardano? Gas Fees Issue Raises Concern

There have been issues around the leading smart contract platform, Ethereum, in relation to the ever-increasing gas fee. This has been the reason why some people think the top blockchain project could eventually lose its popularity to other rival projects such as Cardano, Polkadot, EOS, among others.

Also, it’s been insinuated that Ethereum is already losing viable users to other related blockchains. Some people are also of the opinion that the emerging smart contract platform, Cardano, stands the best chance to ultimately challenge Ethereum’s supremacy, as a number of projects are prepared to move to Cardano once smart contract is implemented, just to boycott its exorbitant gas fees.

Read Also: Cardano Beats Ethereum, Polkadot to Top Blockchain with Highest Development Activity on Github

Can Basic Attention Token (BAT) Survive Without Ethereum?

A user, u/70sechoes, shared a post titled “Can BAT survive without Ethereum” on the Basic Attention Token (BAT) subreddit a couple of hours ago. The post came about due to the fact that the crypto user believes that Ethereum would lose its popularity to other blockchains with similar use cases eventually.

Read Also: Charles Hoskinson: Cardano Would Beat Bitcoin and Ethereum to Become First Efficient Crypto

u/70sechoes shared as follows:

Hello guys,

I just wanted to share with you my perspective on the project and get your thoughts on it.

While there are thousands of coins and tokens being created on the blockchains available in the market, only a few actually serve a purpose with tangible value.

Brave Software has proved itself capable of changing how the digital marketing space can function and it has transformed it for the better from both a user and advertiser perspective.

That being said, I plan on going long with BAT and investing in as much as I can possibly afford, however, what most concerns me is that BAT is currently tied up to the Ethereum project. What if for one reason or another Ethereum loses its popularity to another blockchain (Cardano, Polkadot, EOS, Tron or any other)

How do you go about this as an investor in this project?

Read Also: Hoskinson Shares Image of an Ethiopian Bird. Has The Minister Signed The Cardano-Ethiopia Deal?

As expected, the post attracted tons of upvotes and birthed a number of responses. One of the first respondents said, BAT does not have to be necessarily connected to the Ethereum. They are already working on integrations with other chains.”

Another user recommended Cardano because it costs lesser in terms of requirement and development. The user also cited the fact that Smart contract in Cardano will be able to build with multiple programming languages such as Python, Java, C++, Javascript, which would reduce the risks of being hacked such as in Ethereum due to bugs.

The user specifically pointed out that Cardano’s smart contracts backend is handled by Haskell functional programming, which is used for mission-critical applications that will make the network a difficult pursue for hackers to solve.

Read Also: Crypto Michael Predicts Notable Surge in Price of Cardano (ADA) Ahead of Smart Contract Implementation

The topic has also given birth to another trending post on the Cardano subreddit. The post is titled “The BAT token should also run on the Cardano network. Let’s make it happen?”

Virtually all respondents are eager to see BAT moving to Cardano, believing that the smart contract platform is capable of improving the project vastly in terms of operation.

Meanwhile, IOG, the software firm behind the development of Cardano (ADA), has set August for the full implementation of smart contracts functionality on Cardano.

Among projects that have officially declared moving to Cardano from Ethereum is SingularityNET (AGI), an Artificial Intelligence (AI) solution.

Read Also: Cardano Venture Fund (cFund) Invests In COTI in Preparation for Smart Contract Implementation

The project has reportedly commenced the second phase of its Migration. Aside from SingularityNET, many more projects are expected to move to Cardano once it attains the peak of maturity.

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Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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