Polkadot-built decentralized protocol, Polkastarter, will be the first DEX protocol to use the sharding technology to facilitate transactions within the network. Now, Polkastarter will enable cheaper gas fees and accelerate transaction speed.
Currently, most DeFi aggregators and DEX platforms are on the Ethereum blockchain. However, traders are displeased with the Ethereum blockchain’s gas fee of $20. As stated in a Bitcoinist report, the cost of the gas fee is higher than traders’ targeted profit.
In addition, gas fees have increased over time, and the hike discourages new users. On the Ethereum blockchain, the processing speed is relatively slow, and miners use it to their advantage. Whenever there are network-related issues with the Ethereum blockchain, miners select and execute transactions with high gas fees and leave others to remain for a long time.
However, the Polkadot blockchain’s new processing speed, which is about 160,000 transactions per second (TPS), will reduce the gas fee. In addition, the high TPS will provide a solution to the delay in payments that traders often encounter.
Furthermore, the fast and cheap transactions are facilitated by the Polkadot protocol’s sharded network, where the Polkastarter DEX is built. Also, the protocol’s sharding abilities will enable networks to operate smoothly with each other. This means that projects listed on the Polkastarter DEX aggregator will share data and files without interruptions.
Image Credits: Pixabay
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