In 2024, while Ethereum shows a year-to-date gain of over 70% but lags behind Bitcoin and Solana, Graphite Network debuts its high-performance L1 blockchain. Ethereum faces challenges due to a reduction in gas fee burns and the growth of layer-2 solutions diverting activity. Solana has surged with faster speeds and lower costs. Graphite offers up to 1,400 tps and confirmation times under 10 seconds, surpassing Ethereum’s 15 – 20 tps.
It uses a PoA consensus model and Polymer 2.0 algorithm, with a unique transaction model allowing entry-point nodes to earn passive income. It also pioneers a reputation-based approach, including features like “One User, One Account”, multi-layered KYC verification, and a Trust Score system. Graphite aims to create a trust-driven, user-centric blockchain environment and is emerging as an alternative to Ethereum.
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