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Why doesn’t Ethereum use ASIC (Why is Ethereum so expensive?)

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Why doesn\’t Ethereum use ASIC Editor\’s Note: This article comes from Ethereum e

Why doesnt Ethereum use ASIC (Why is Ethereum so expensive?)

Why doesn’t Ethereum use ASIC Editor’s Note: This article comes from Ethereum enthusiasts (ID: ethfans), author: AsiimBao, translated & proofread by Odaily Planet Daily with authorized reprint.

Over the past year, we have been searching for a new solution – a completely alternative EVM-compatible chain instead of the “stateless” EIP-1559 protocol proposed by the Ethereum development team. Although this solution has been widely considered appropriate, it still affects the overall development status and user experience of the entire blockchain ecosystem. Why don’t we use ASIC? To solve this problem, let’s fundamentally understand why ASIC is not needed. Why not use Aonic? Because it is the first project to integrate smart contracts with EVM on Ethereum, it needs to provide scalability, security, and interconnectivity for EVM.

However, this is not just a technical issue, but also a problem. If we want to achieve this goal in a simpler way, we must consider several important questions: How does EVM work? How does EVM operate? How to ensure the ability to execute transactions? When it comes to smart contracts, you need to check if your wallet has any security vulnerabilities. If you don’t have these risks or flaws, you can try to redesign your Ether account and reset its account name or identifier.

However, for many DeFi applications, choosing to use non-fungible tokens (NFTs) is not an easy task. Due to their non-interchangeability and unique characteristics, they may not be able to communicate across platforms. And Asic is one of them. What is Aeric? The main reason for Ethereum is that they hope to make smart contracts work with other software, including smart contracts, smart contract engines, or smart contract tools, etc., to avoid using existing Ethereum-based smart contract functions and protocols. Why not use ASIC? Ethereum’s core developers often mention Asitcoin, which is the ERC-20 token standard used to handle Ether currency, and also one of the special use cases in the Ethereum network. This system consists of some decentralized nodes. This type of DApp can support applications of different scales. There are also various dApps, such as metaverses in games. Why not use Asix? Simply put, the reason for A’s fallacy of building different blockchains with a single client. For example, if someone says Agravet has two versions, namely A Juice version and A Four version; another is the A Max version in specific cases.

So, introducing a novel consensus layer, namely the Axi architecture, in Ethereum is designed to allow the Ethereum community to participate in various different blockchains and eventually reach consensus. In some cases, even the most complex networks can be connected through multiple computers.

Why is Ethereum so expensive

According to ambcrypto reports, the value of Bitcoin has skyrocketed in recent weeks. The price of Ethereum (ETH) is currently around $3,800, while the price of Bitcoin has reached $6,900, an increase of about 60% compared to its all-time high, which means it is now nearly 70% higher than Bitcoin. Why is Ethereum so expensive? There are three reasons: first, its supply is low; second, due to its unique consensus mechanism, participants in its network cannot reach consensus or completely stop transactions. The third factor is that its usage cost is high because when users hold a large amount of Bitcoin, they have no way to make payments. So if people want to buy a cryptocurrency and want to sell it to another person through a smart contract, their income will decrease.

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