In today's rapidly developing blockchain industry, low gas fees are not only a technical consideration, but also an important factor affecting the accessibility of the blockchain. This article will delve into the importance of low gas fees for accessibility while providing a list of some promising Layer 1 (first layer blockchain) that may lead the competition in 2024.
Low gas bills and accessibility
Increase user engagement
Low gas fees not only reduce transaction costs, but also help increase user engagement. When transaction costs are too high, it may hinder the participation of some users with small transactions or frequent transactions, and low gas fees can help break down this barrier and promote more users to participate in the blockchain ecosystem.
Accelerate market expansion
Low gas fees will help accelerate the application expansion of blockchain technology. For developers and enterprises, low-cost transactions will encourage more applications to run on the blockchain, promote the expansion of blockchain technology in different industries, and thereby improve the accessibility of the entire ecosystem.
Promote innovation and collaboration
A low-gas environment fosters innovation and collaboration. Developers can more easily test and deploy new blockchain applications, spurring more innovation. In addition, low gas fees will also help lower the threshold for corporate participation and promote cooperation among blockchain projects.
List of Promising Layer 1s to Lead the Competition in 2024
In 2024, several promising Layer 1 blockchain projects are expected to lead the competition and bring new development opportunities to the blockchain ecosystem.
Ethereum 2.0: As a giant in the blockchain industry, Ethereum 2.0’s upgrade will improve performance, reduce transaction costs, and achieve higher scalability, and is expected to lead the competition in 2024.
Polkadot: Polkadot is known for its cross-chain functionality and scalability. Its network structure allows for seamless interoperability between multiple blockchains and may become the cornerstone of the blockchain ecosystem in the future.
Solana: Solana has attracted attention for its high performance and low-cost transactions, and its fast protocol layer may make it one of the competitive Layer 1 projects in 2024.
Conclusion
Overall, low gas fees are crucial to the accessibility of the blockchain ecosystem. As 2024 approaches, promising Layer 1 projects will lead the competition through technological innovation and collaboration, and promote the global application expansion of blockchain technology.
