HUH Network Aims To Join Fantom As An Ethereum Blockchain Competitor
Ethereum is the second largest cryptocurrency in the market for several reasons. And over the years, the network has proven that its alternative blockchains are at an advantage. As a result, competitive blockchains to Ethereum need not compete before they can record success.
The Ethereum blockchain has a lot of value to spill over to these alternative networks that they are always a safe bet for anyone looking for a smart buy in the cryptocurrency market. HUH Network (HUH) is a new Ethereum alternative blockchain and could be one of the biggest projects the market has seen when it launches.
Ethereum is a decentralized computing platform network that is open source. The Ethereum network, like the Bitcoin network, is based on blockchain technology, essentially a digital public ledger in which financial agreements can be verified and stored entirely by software — without the intervention of a third party.
But the network can do more than handle financial transactions that excite users and enthusiasts. Ethereum extends the Bitcoin blockchain by enabling developers to run programs (referred to as “smart contracts”) that can host any decentralized application (known as “dApps”).
The Ethereum blockchain started developing issues after the blowup of DeFi. It caused the network to be congested and, as such, raised transaction fees and increased processing times. Considering that Ethereum is a network that poses to grow even bigger and up to bitcoin, as some users suggest, there was a need for a scalability solution.
Alternative blockchain solutions like Fantom, Avalanche, etc., started spurring out as Ethereum-compatible blockchains with the basic functionalities Ethereum offers.
Fantom (FTM) is the world’s first smart contract platform based on Directed Acyclic Graph (DAG). Compared to the Ethereum blockchain, this fourth-generation blockchain offers blockchain developers and users significant improvements in functionality and usability.
In addition to its infrastructure goals, Fantom aspires to be the market’s best DeFi (decentralized finance) platform. The network provides some popular features, such as staking and peer-to-peer lending. Fantom hopes to capture some of Ethereum’s DeFi market share in the coming months in this manner.
Fantom was created to address the issues that Ethereum blockchain users and developers face today. The network’s goal is to build a secure and scalable decentralized network. The development team was successful in this regard. As a result, Fantom can offer near-infinite scalability and instant transactions at no cost.
Fantom abandons the power-hungry Proof-of-Work (PoW) consensus mechanism used by early cryptocurrencies like Bitcoin and Ethereum. With this strategy, the network can validate its state using less energy. Finally, this approach makes Fantom more environmentally friendly and sustainable.
Fantom’s low fee structure is one of its most significant market advantages. Users can send transactions for a fraction of the price that Ethereum currently charges. This micro-fee strategy also benefits blockchain developers by allowing them to provide their services at a lower cost.
HUH Network (HUH) is a new cryptocurrency solution encompassing a new blockchain network, a decentralized exchange platform, and a wallet service. You don’t often find new blockchain networks launching in the cryptocurrency market because of the complexities of a new network. Projects always prefer to build their solutions on blockchains like Ethereum or BNB smart chain.
HUH Network is promising because it promises to offer state-of-the-art solutions that cut across DeFi, NFTs, and the metaverse. In addition, the blockchain network will enable transparent, instantaneous, and low-cost transactions and will have EVM compatibility, which makes an Ethereum alternative blockchain. And if there’s anything we know about Ethereum alternative blockchains, they are one of the most successful blockchain solutions in the cryptocurrency market.
HUH Network’s native token, HUH, will be on presale soon. You can earn between 10% – 20% bonus tokens with ETH, BNB, SOL, and a few other cryptocurrencies, with DOGE and SHIB having the highest bonus rate. There are also different bonus rates for buying in the earlier presale stages. However, the most rewarding bonus is to buy with $2500 fiat currency and get a 40% bonus of HUH tokens.