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Exploring Ethereum, NvirWorld, and the Emergence of Layer 3

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The COVID-19 pandemic has attracted many users to the cryptocurrency markets. However, the bear market of 2022, coupled with the collapse of several centralized exchanges, exacerbated investor concerns about digital assets.

For example, ethereum (ETH) reached an all-time high of around $4,810 in November 2021, but its value fell to $1,060 eight months later. Despite the volatility in the bear market, many investors are considering investing in ETH, citing its long-term growth potential and stability.

Why is Ethereum, and why is the potential for growth and stability of altcoins important?

Altcoins that are considered stable with high growth potential are more attractive investments than meme currencies with uncertain futures. This is because their value can increase over time, making them profitable for value investors.

Altcoins, the core of which is based on innovation, may be attractive to investors because they offer high functionality and use cases.

Ethereum enables developers to create decentralized applications (dApps) using smart contracts, which provide various benefits such as transparency, security, and immutability. These benefits make the blockchain attractive to users and businesses, increasing its potential for growth and stability.

The Ethereum network experienced significant growth after implementing the “London Hard Fork” upgrade on August 5, 2021. The upgrade introduced an improved transaction fee mechanism, with users only required to pay basic transaction fees. In addition, a portion of the transaction fees are burned, which has a deflationary effect on the supply of ETH. The upgrade initiated the change that caused Ethereum to change its consensus mechanism from Proof-of-Work (PoW) to Proof-of-Stake (PoS).

The London Hard Fork has been pivotal in the history of Ethereum, as its activation also sent ETH prices soaring. The coin rose from around $1,900 to $3,320 after a week of hard fork. Overall, the London Hard Fork has played an important role in the growth and development of the network, cementing its position as a leading blockchain platform.

Can NvirWorld grow as much as Ethereum?

Ethereum is a layer 1 mainnet, like Bitcoin and Polkadot. However, the main problems are high gas fees and slow transaction processing speed.

It introduced Layer-2s Rollups, bundling hundreds of transactions into one, increasing processing speeds, and reducing transaction fees. Arbitration and Optimism (OP) are the two popular Layer-2s. Arbitrum’s daily transactions surpassed Ethereum for the first time on February 21. And as layer-2 platforms gain traction, will they continue? What difference can we expect in the development of the mainnet in the future?

Solutions like Arbitrum and Optimism are gaining attention as they can improve the scalability and efficiency of the Ethereum network. However, many blockchain projects aim to define Layer 3, which promises to provide even more benefits.

NvirWorld is one of them. It aims to define its mainnet as the third layer by achieving the high utilization and commercialization of blockchain technology.

NvirWorld has many patented technologies which showcase its strong technical capabilities.

One of these is the patented “stay on hold” technology, which can reduce the cost of transactions. They also have a separate patent that enables offline payments and transactions using cryptocurrency. Therefore, although it is based on decentralization, the mainnet of NvirWorld can provide services that are closer to centralization and can operate offline.

This will make it easier for people in rural areas or those with poor internet connections to conduct transactions without the need for a traditional bank account and increase the use of the main network.

Investors believe that the launch of the NvirWorld mainnet and its hardware wallet will provide a new level of security for users’ assets. This will be especially useful during disasters where traditional banking infrastructure and internet connections are not available.

Burn mechanism similar to Ethereum, what more can you expect?

NVIR, the local currency, will be used to pay for gas. Moreover, the mainnet will adopt the exact burn mechanism used on Ethereum. With the increasing scalability of NvirWorld’s Mainnet, this mechanism is expected to become more useful.

Moreover, unlike Ethereum, burning is performed in a limited amount, which can increase the rarity and value of NVIR.

In conclusion, the introduction of Layer 2 solutions has improved the scalability and efficiency of the Ethereum network. However, the development of Layer 3 solutions such as NvirWorld’s mainnet could bring more benefits, including cost reductions and improved accessibility, making blockchain technology more accessible.

In addition, the “burn mechanism” across the mainnet can increase the NVIR value by limited amounts.

Third layer and more to come?

Some investors may be hesitant to invest now because of its main network launch in the fourth quarter of this year. However, this can also be seen as an opportunity. NvirWorld has already made great strides in the world of altcoins, and many believe it has the potential to become the next big player in the industry.

Last year, they launched NFT Marketplace “Nvir Market” and DeFi platform “N-Hub”. The company also signed a memorandum of understanding with Solana, a layer-one blockchain network known for its high-speed and low-cost transactions. Additionally, NvirWorld has partnered with ConsenSys, the company behind popular blockchain tools like MetaMask and Infura, to take its software development to the next level.

The launch of the decentralized exchange – INNODEX, in the first quarter of this year, with an interface similar to centralized exchanges, could attract more traders and investors to their platform. The fact that gas will be charged once per day is also seen as a positive development.

High gas fees often deter users from making transactions on the Ethereum network. NvirWorld has also developed a solution to address existing Play-to-Earn (P2E) model issues by creating a new game called Sugar Flavor, which is also scheduled for release in March. Moreover, their betting game will be offered in Europe, Africa, and East and Southeast Asia.

These achievements demonstrate NvirWorld’s commitment to innovation and growth in the altcoin market. While there is still some uncertainty surrounding the Mainnet’s launch, investors may see potential in NvirWorld’s past successes and partnerships, making it a promising investment opportunity.

Altcoin investors are looking for projects with unlimited growth potential these days, as they fear losing assets due to the lack of skilled developers on blockchain projects. Investors are still buying ETH, as Ethereum did not stop in 2014 and kept upgrading to provide better service.

As layer-2 solutions outperform the Layer 1 backbone and continue to emerge, NvirWorld, with its clear roadmap and technology patents, can stand out as it rolls out a Layer 3 backbone.

The focus now is on what kind of impact NvirWorld will have when it overtakes Ethereum and becomes the leader of altcoins in the near future.

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users should do their own research before taking any actions regarding the Company.

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