What is next state of CarrotSwap?

It’s been a while since we’ve launched Carrotswap and during this time, most of our users complained of high gas prices.

Problems

Decentralized Apps are making huge progress but the current blockchain ecosystem is not prepared to scale as per the demand. Slow block confirmations, block size limitations and computations — in smart contract based blockchains — need to be solved before we target mass adoption by mainstream users. And most importantly, it needs awesome user experience.

Some of the problems associated with the current blockchain platforms are as follows:

Slow transactions

High transaction fees

Low transaction throughput

Scalability

Multiple micropayment channels

Poor usability

As the number of ICO increases, users may want to use DApps with different tokens as payment. Without on-chain trade, the convertibility of one crypto token to another represents a new challenge for both investors alike. It introduces complexity for managing multiple crypto tokens and exchanging tokens to pay on different platforms.

Solutions

1-)Matic Network

Matic Network solves these problems by building a decentralized platform using an adapted version of Plasma framework that provides a solution for faster and extremely low cost transactions with finality on a main chain.

Matic Network solves the low transaction throughput problem by using a ​Block Producer layer to produce the blocks. Block Producers enable the system to produce blocks at a very fast rate. The system ensures decentralization using PoS checkpoints which are pushed to the Ethereum mainchain. This enables Matic to theoretically achieve ²¹⁶ transactions on a single side chain.

2-)Binance Smart Chain

Binance Chain is a blockchain project that allows anyone to issue, use, and exchange digital assets on the blockchain, its native asset is BNB.

The goal Binance had when creating the BSC was to keep the Binance Chain’s high throughput intact while also introducing smart contracts to their ecosystem. While BSC is a parallel blockchain, it is not a layer two or off-chain scalability solution, it is its own independent blockchain that can continue to run independently if Binance Chain would go offline, for example.

Since the BSC is EVM compliant, it can draw on the many Ethereum tools and DApps, making it easier for developers to transfer their projects from Ethereum. It also means that users can configure other exchanges, games, etc. with BSC as it is a matter of adjusting a few settings.

So I made the decision to start a vote on requests from the community.

Vote by March 1 to decide the fate of the CarrotSwap!

Snapshot Proposal:

https://vote.carrotswap.org/#/carrotswap.eth/proposal/QmUACex4KDRL7JSfrfK4RbFAbys9kzex2ABZN7mdYPdGes

What is Snapshot vote?

Snapshot is an off-chain gasless multi-governance client with easy to verify and hard to contest results.

  • Creating a proposal and voting is free no transactions
  • Proposals and votes are just signed messages, stored on IPFS
  • Signatures are easily verifiable online it uses the “eth_sign” format

Links

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