HachiFi (HACH) and Ethereum (ETH): Top DeFi Platforms That Will Shape The Crypto Space In The Long Term
Ethereum (ETH) is the second largest cryptocurrency in the world. It is the first crypto blockchain to support smart contracts. These smart contracts made the Ethereum (ETH) blockchain the largest DeFi blockchain in the coin market. It is rightly called the king of DeFi.
HachiFi (HACH) is a new DeFi crypto project. It has the potential to compete closely with the king of DeFi. Experts say it will be an alternative to, or killer of, the Ethereum (ETH) blockchain.
What would this mean for crypto users?
This article will compare the HachiFi (HACH) crypto project and the Ethereum (ETH) blockchain. The features of each will be highlighted and contrasted. Let’s begin with the Ethereum (ETH) blockchain.
Ethereum (ETH) is both a cryptocurrency and a cryptocurrency blockchain. It was an improvement to the Bitcoin blockchain. It allowed other cryptocurrencies to be hosted and thrive.
Ethereum (ETH) has a solid infrastructure that makes it capable of hosting several decentralized applications and crypto projects.
The Ethereum (ETH) token – Ether or ETH, is the main currency usable within the Ethereum (ETH) blockchain. Users must own sufficient Ether or ETH in their wallets to use the blockchain successfully.
ETH is the utility token that covers transaction fees within the Ethereum (ETH) blockchain. Other Ethereum-based crypto project users must also have Ethereum tokens to complete their transactions.
Although the Ethereum (ETH) blockchain is popular, it has some significant flaws that its developers are trying hard to fix. One of these significant restrictions is its huge gas fees.
Transactions on the Ethereum (ETH) blockchain usually attract enormous gas fees. Because of the high gas fees, conducting small transactions on the Ethereum blockchain is nearly impossible.
These gas fees are due to two factors;
- Ethereum (ETH) is a proof-of-work blockchain
- The Ethereum blockchain has a lot of transactions passing through it every second.
A proof-of-work blockchain requires transaction validators, known as miners, to verify and complete their transactions. These miners receive a percentage of the gas fee charged as rewards.
As the Ethereum (ETH) blockchain grows, the volume of transactions increases. Miners begin to prioritize which transactions they will verify. Thus, users willing to pay higher gas fees receive priority.
To solve this issue, Ethereum developers are making significant efforts to transition to the proof-of-stake protocol. This transition is a gradual, ongoing process. However, it will also make the Ethereum (ETH) blockchain almost unbeatable within the DeFi crypto space.
HachiFi (HACH) is another blockchain that offers its users next-generation DeFi services. Its developers started its design in January 2022. It has successfully restructured decentralized finance. It will unify the interests and incentives of every person, entity, or organization in the DeFi space.
HachiFi (HACH) is a community-based DeFi platform for social networking. HachiFi (HACH) introduces its users to yield farming. In yield farming, HachiFi (HACH) token holders provide liquidity for their tokens to maximize their returns.
HachiFi (HACH) allows its token holders to earn more HACH tokens through its lending and borrowing protocol. Users can deposit their tokens into liquidity pools. These are then used to give crypto-collateralized loans to others within the HachiFi (HACH) ecosystem. Upon settlement of the loans and interest, each liquidity provider receives a percentage of the profit based on the size of their token deposit.
The HachiFi (HACH) token is yet to be available across popular crypto exchanges. It is still in its presale phase. Participating in this presale makes you eligible to enjoy the utilities offered within the HachiFi platform.
Furthermore, presale participants can receive bonuses for fulfilling specific criteria during their purchase.
For example, using Shiba Inu (SHIB) tokens to purchase HACH tokens during Stage 2 of the presale attracts a 10% bonus for using SHIB tokens, a 5% Stage 1 bonus, and an 80% bonus on the third purchase.
The Ethereum (ETH) and HachiFi (HACH) blockchains have great potential in the coin market. Ethereum (ETH) has been in the coin market for a long time. Its infrastructure has seen and is still undergoing significant improvements.
However, the HachiFi (HACH), being a new token, will still be at a very affordable price. Over time, during this presale, the token price will increase. Take advantage of this presale and purchase more HachiFi (HACH tokens), the best cryptocurrency to buy in 2022.