Gas Optimization For ETH Users – The Kaiba DeFi Project

Those who follow the events in the blockchain industry know that the sector has been changing extremely rapidly. Each innovation seeks to solve an existing problem in the crypto world. Among them is the high gas price in the Ethereum universe

Simplifying a purely technical question, we can see the gas price as the transaction cost on Ethereum. This price has been recording a high value for a long time. However, this issue largely depends on growing network congestion.

Today we will look closer at the Kaiba DeFi initiative. This project promises to find a stable solution to this problem through new technology. We will start from a fundamental premise on the Ethereum blockchain and then dwell on the proposal of the Kaiba DeFi founders.

Gas price and the promises of Ethereum 2.0

To better understand the value of Kaiba DeFi’s proposal, it is crucial to understand the current market situation. In 2020, Ethereum announced the development of the Ethereum 2.0 initiative, a highly promising evolution of the existing network. 

To date, Ethereum users submit transactions with the required gas prices, and miners choose which transactions to mine in bulk. As a result, Ethereum gas prices are dynamic, with an equilibrium in constant fluctuation. In other words, they result from the meeting between the users’ offer and what miners accept regularly.

What changes with Ethereum 2.0? To put it simply: the system becomes proof-of-stake, with the phasing out of mining in favor of staking. This revolution will have stakers depositing ETH and competing for block prizes and gas commissions.

Moreover, each activity will have its own gas cost: direct sending of ETH (or an Ethereum ERC20 token) from one wallet to another will, therefore, become cheaper. The same argument also applies to the generic interactions between smart contracts, the processing of meta transactions, etc. To simplify, the cost of gas will vary according to the complexity of the on-chain activity.

The greater the number of transactions requested by users at any given time, the higher the gas prices will be. The Ethereum block space, in fact, gradually becomes scarcer. A transaction sent at higher gas prices will therefore result in faster processing.

The idea behind Internal Virtual Chains

At this point, any reader can understand the general hype over Ethereum 2.0 and its new features. However, we have not mentioned an essential aspect of this development: no one knows the exact project timeline yet. 

We have seen the announcement of a series of projects offering Layer 2 solutions. However, these initiatives have disappeared from the radar or required a separate chain.

The first aspect we appreciate about Kaiba DeFi comes from this scenario. The project has an architectural design that places the beginning and the end of a transaction exclusively on the Ethereum Mainnet. The trick to achieving this result comes from using what experts in the industry call “Internal Virtual Chain” (or IVC).

You can think of an IVC as an internal protocol building a sub-chain within the Ethereum network. The end-users won’t notice the difference in transferring their tokens, as the whole procedure will, technically, never leave Ethereum.

Transactions on Kaiba DeFi entirely happen on the IVC system, a virtualization procedure providing gas savings close to 90%. This is the main change that the project aims to introduce in the blockchain sector.

Listing a project on Kaiba DeFi

Kaiba DeFi decentralized exchange lets users launch and list a new project on the system. However, Crypto pundits know that this procedure can be tricky and hard to complete, another issue that the new initiative aims to tackle.

Kaiba DeFi expects to be fully operative with its portal by December 2021. So far, the development is proceeding smoothly. Also, it will provide different ways to create liquidity on the DEX.

The developing team anticipates that managing a liquidity process on Kaiba DeFi will be highly functional. In other words, we expect no useless overcomplications in the procedure to let even inexperienced developers work smoothly.

Our conclusions on the project

The advantage promised by using this system is tangible and aims to solve a problem that has plagued the Ethereum universe for several years. Therefore, we can only promote this kind of initiative from our side, as they promise to improve the crypto experience of millions of end-users.

Ethereum live price
price change

The project includes several stages of development, which we will be happy to monitor in the coming months. Anyone who knows more about the initiative can directly visit the official Kaiba DeFi website.

Disclosure: This is a sponsored post. Readers are encouraged to conduct further research before taking any action. Furthermore, Crypto Adventure does not endorse any crypto projects cryptocurrencies listed, mentioned, or linked to on our site. Trading cryptocurrencies is a highly risky activity that can lead to major losses. You should consult your financial advisor before making any decision. Learn More

Stay up to date with our latest articles

More posts

BitYard Review: The One-stop Trading Platform with Perpetual Futures

The crypto exchange market has recently seen the birth of new companies to study before entering the sector. With an ever more comprehensive market offer, it is up to the individual investor to understand the industry’s best operator. Keeping in mind that different traders are better suited to different types of investors, today we will impartially talk about BitYard, a Singapore-born trader. Founded in 2019, BitYard is a cryptocurrency exchange that offers a range of services to its customers, as…

A Guide to Collateralized Loans in DeFi

Hodling is the favorite sport of long-term crypto investors. However, keeping your assets in a crypto wallet for years can have negative consequences. Firstly, unless their value increases, you do not accrue any profits. Secondly, it limits market liquidity and, therefore, hinders its growth. Fortunately, you can help solve both problems with collateralized loans. This short guide to crypto lending discusses how collateralized loans work in decentralized finance. Read on to discover how to use this DeFi tool in your…

Former Goldman Sachs CEO Acknowledges That Crypto Is “Happening”

Though Bitcoin has been at its most oversold point since March 2020, long-term investors haven’t taken their eyes off the ball. Ex-Goldman Sachs CEO Lloyd Blankfein believes the crypto industry is “happening”, having matured significantly in 2021. As a result, he suggested that now could be a great time to invest, much like other devotees buying this week’s dip. A Rapidly Growing Ecosystem Blankfein aired his thoughts on the industry in an interview with CNBC’s Andrew Sorkin on Monday. Sorkin…

String Of Tiny Bitcoin Miners Win Hash Lottery Throughout January

Are you feeling lucky? It turns out you don’t need to join a giant hash pool to profit from crypto mining. Over the past month, three small Bitcoin miners have individually won the race to mine Bitcoin’s next block. That means it rewarded each with a whole 6.25 Bitcoin for providing their proof-of-work. Beating the Odds Solo CK pool administrator Dr Con Colivas reported the most recent small miner win earlier today. Using just 86TH/s of hash rate capacity over…

Carola Morena to Boost Music and Talent Search ahead of Token Presale

Carola Morena, a Madrid-based company dedicated to boosting music and finding new talents, is seeking to improve the music industry as its token presale nears. The company is passionate about music and helping artists on their musical journey.  The project has its token presale on January 27, 2022. Buyers interested in the presale tokens can do so through the Carola Morena DAPP. Notably, it will be available soon on the project's official website.  Carola Morena is Refreshing the Entertainment Industry…

What is NFT Lazy Minting – A Beginner’s Guide

The enormous success of the NFT usage over the last quarters is remarkable. Therefore, we are not surprised to see an ongoing innovation trend in the NFT market niche in this context. However, creating NFTs can be struggling on several occasions, especially for new traders and artists. Today we will look into the lazy minting practice, an innovative idea that has recently become popular in the blockchain industry. Before doing that, however, it is essential to spend a few words…

Crypto Prices Moved Higher Following Powell’s Congress Testimony on Inflation

Just a few days ago, the crypto world was looking with interest at the testimony of Jerome Powell in front of the U.S. Senate. The Chairman of the Federal Reserve appeared in front of the Committee on Banking, Housing, and Urban Affairs on January 11th. The testimony inaugurated the beginning of Powell’s second term leading the Federal Reserve. As the inflation rate appears to pick up in the Western world, many are looking at the Fed to learn about its…

How Meta (And Other Big Tech) Could Ruin NFTs For Everyone

Facebook (now Meta) did everything it could to maintain its monopoly in all its history. Could it do the same with NFTs? NFT investors are ecstatic as major social media companies finally come out with major NFT integrations. Twitter, a significant hub for NFT users, was the first to roll out the feature. NFT owners can now showcase their NFT profile pictures with a particular hexagonal shape. That way, users can instantly see whether that Bored Ape picture is legit…

Are We Quite Sure That Ethereum Isn’t A Security?

The Securities and Exchange Commission (SEC) remains hazy on which cryptocurrencies are “securities'', versus “commodities”. Even Ethereum isn’t out of the woods.    The SEC is notoriously slow at providing regulatory clarity for the crypto industry. Besides its strange hostility toward permitting a Bitcoin spot ETF, the commission refuses to classify which cryptocurrencies are securities. Instead, SEC chairman Gary Gensler continues to make vague statements on the matter that shake confidence in every altcoin holder. In a September conversation with…

WMA: Bitcoin Drops Below $40k, but Hash Rate and Mining Remain Promisingly High

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $1,630 trillion. Bitcoin is down by almost 19% and trading at around $35,000. Ethereum lost the $3,000 level after a 28% drop. XRP is down by nearly 23% after a rough week. Most altcoins are trading in the green after constantly dipping in the red after a week. The DeFi sector lost over $3…