Hello everyone...
Currently, Ethereum is the best and main blockchain of the whole crypto ecosystem, since besides allowing the mining of ETH, it allows the creation of smart contracts that can be used to create many things like games, dapps, defi, NFT, among other things. But as it is a blockchain in high demand for its great utility and use cases, it currently has a trend where transaction fees are extremely high and expensive.
Currently, transaction fees range from $11 to $45, and this is charged every time any movement is made, which also affects NFTs, since as with an asset that is currently highly demanded and traded, the cost of transaction fees also goes through the roof.
Seeing this big problem, the creator of ethereum Vitalik, proposed an idea that can solve the problem of high transaction fees, and that is to migrate the NFTs to second layers of Ethereum as the rollup through the wrapped-NFTs since in addition to low fees can increase the speed of transaction. And although this is an effective solution as it greatly reduces transaction costs, it creates a problem that can harm the network and the NFTs that adopt this system.
The second layer wrapped-NFTs work in the following way the original NFT stays in the ethereum blockchain that acts as a vault, then a copy is created which is then wrapped-NFT, then the person interested in buying the NFT acquires not the original but the WNFT which is the copy, and if the buyer wants to acquire the original only must present the voucher (the WNFT) so that the vault (which is the ethereum blockchain) can change the address of the holder of this NFT.
The problem with the second layer NFTs I think may appear at the time of creating the tokens to claim the original could create many copies that could affect the security of the NFTs as unique tokens and that can not be repeated.
In addition, another challenge posed by this idea of WNFTs is that not all the rollups that currently operate on the ethereum blockchain can be used since they must make use of the EVM that allows the execution of smart contracts. For example, rollups such as Arbitrum and Optimism allow full use of the EVM but these are not the most suitable as they are inferior in terms of processing transactions per second, the most suitable rollup to make the second layer NFT is zkSync 2.0, which although currently in the testing phase, is the ideal as they promise to process up to 20 thousand TPS, this rollup does not allow full execution with the EVM.
Vitalik's outline of second-layer NFTs.
To all this drawback, it brings out once again the great advantage that Hive blockchain has that although many know about this blockchain and its benefits, they completely ignore it. Hive blockchain is the most suitable place to avoid the problem of high transaction fees, as they are very cheap or in some cases zero, it is also a fast, secure, and resilient network and the best thing is that it also allows the creation of smart contracts like or better than ethereum.
And although they are 2 different blockchains, you could create bridges or contracts that allow the transfer of NFT from Ethereum to Hive, as it has been proven that this can be done, as a very popular game belonging to the Hive blockchain that is splinterlands, you can buy cards in WAX blockchain and transfer them to the game, so you could create an alliance between Hive and ethereum to solve the problem of transaction fees without complicating the exchange or security of transactions.
Hive is the best solution that no one wants to accept.
