SILICON VALLEY, CA Feb 02 2021 (Blockchain Wire)
The team behind core development at Ether-1 just announced plans to deploy a Uniswap clone and will begin on-boarding decentralized finance projects onto the network. This comes at a much needed time in the Ethereum universe as gas prices and transaction fees skyrocket making the Ethereum network itself too costly for most to utilize.
Ether-1 is a unique blockchain project in that it specializes in a decentralized file storage and web hosting platform called ethoFS (ethofs.com). “Ether-1 taking this step into the DeFi world will give decentralized finance users a cheaper, functional alternative to the insane transaction fees Ethereum is currently experiencing,” stated James Reilly, core developer and the project’s founder. Ethereum has seen an incredible rise in gas fees as the value of Ether has skyrocketed in recent weeks. As of 1/27/2020 ETH gas prices are at 227 gwei compared to 20 gwei for ETHO (see https://ethstats.net/ and https://stats.ether1.org respectively).
Ethofs and the Ether-1 network have seen large upticks in public interest due to all the censorship and deplatforming occurrences surrounding US Elections. Ethofs gives anyone holding ETHO (the functional currency of the Ether-1 Network) the opportunity to host any content they wish on the public, immutable network of nodes. The Ether-1 Node Network also allows coin holders the ability to stake their coins (staking.ethofs.com) or run an ethoFS node of their own (nodes.ether1.org) in order to benefit from revenue generated by decentralized data hosting contracts.
The Ether-1 Project is an open-source community-based effort to bring the decentralized and anti-censorship movement to hosted data using the ethoFS website and data hosting platform. Ether-1 is powered by it’s own cryptocurrency ticker symbol (ETHO) and can be found on Probit.com, Stex.com, Polarity.Exchange and other leading exchanges. www.ether1.org
Ethan Van Ballegooyen
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