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Saturday, October 23, 2021

DOTOracle – Rendering Decentralized Solutions to Polkadot and its Ecosystem

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With a jump of more than 350% in its price this year, Ethereum has outperformed major cryptocurrencies, bolstered by the rise of decentralized finance (DeFi) protocols, like liquidity aggregators and decentralized exchanges. These projects brought in viable use cases that could extend to everything from insurance to decentralized trading and loans to yield farming. However, the increasingly DeFi protocols relying on Ethereum contracts made the network a lot busier, which led to higher gas fees for making transactions. Though ETH 1.0 transition to ETH 2.0 is in progress, the network is far from improving issues like scalability, speed, and gas fees.

Rise of Ethereum Killer – Polkadot

The slow pace of development within the Ethereum ecosystem has allowed its competitors to take over the

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