Three Cryptocurrencies Cutting the Brakes on Sky-High Gas Prices: Solana (SOL), Logarithmic Finance (LOG), and Stellar (XLM)

Know how Logarithmic Finance and other cryptocurrencies are cutting the brakes on sky-high gas prices.

Gas prices are an inbuilt mechanism of cryptocurrency. In simple terms, it is the transaction fee an individual must pay when trading or buying cryptocurrency, with the price determined by the circumstances of the transaction and the blockchain currently processing it.

Many cryptocurrencies, like Solana (SOL), Logarithmic Finance (LOG), and Stellar (XLM), recognise that gas prices can be sky-high, due to the various factors that impact them. As such, these platforms have gone out of their way to innovate, as a way to keep fees low and create a positive experience for their users.

Logarithmic Finance (LOG) Decrypts the System

Built on the Ethereum (ETH) blockchain, a chain known for its high gas prices, Logarithmic Finance (LOG) has chosen to take its gas prices into its own hands, expertly crafting a minimalist code architecture for its platform that allows for reduced gas fees on their platform.

This code is so well designed that Logarithmic Finance (LOG) estimates that their gas prices are 80% reduced compared to what they would be in a traditional Ethereum (ETH) blockchain transaction.

But how has this been achieved?

Quite simply, Logarithmic Finance (LOG) has designed code that only anchors essential information to the blockchain when undertaking transactions, to make the transaction more efficient and less information-heavy.

A smaller amount of information for the blockchain to compute means the transaction can be processed faster, thus bringing down the gas prices associated with the transaction.

It is a process that requires a lot of technical know-how from the Logarithmic Finance (LOG) team, however having this knowledge proves their legitimacy as a start-up, and the potential for success this project holds.

Want to learn more? Check out their presale.

Solana (SOL) Makes Gas Prices Naturally Low

Another way to reduce gas prices in cryptocurrency transactions is by reducing the overall energy output of your transactions, reducing the gas price in the process by requiring less computing power.

One cryptocurrency at the forefront of this is Solana (SOL), with its groundbreaking low energy transaction technology made possible by the environmentally-conscious proof-of-stake verification process.

Considered one of the fastest blockchains on the market, Solana (SOL) is also one of the cheapest, all thanks to its energy-efficient approach to crypto.

As such, many crypto users are turning to Solana (SOL), going out of their way to incorporate them into their multi-chain platforming to allow users to benefit from these aspects.

So, if you're looking for a quick way to transfer funds without the sky-high gas fees, give Solana (SOL) a try.

Stellar (XLM) Gives A Five Star Performance

Stellar (XLM) is an open-source system designed to give the financial systems of the world a place where they can work together.

The system allows for the creation and trade of digital representations of any given currency, be it Bitcoin (BTC), Dogecoin (DOGE), or even a fiat currency like Pound Sterling. This means that, when transferred, these representations hold their value, yet can be used in a variety of situations without the involvement of big banks.

Despite the potential complexity associated with this process, Stellar (XLM) can provide some of the lowest gas fees available on the crypto market, boasting the ability to settle and verify transactions on their blockchain in seconds.

This is due to Stellars (XLM) use of a consensus protocol- a verification mechanism that, like proof-of-stake, allows for lightning-quick transactions that cut down on processing power to allow for low gas prices.

This is crucial for Stellar (XLM), which takes a unique position in the market by providing tools for easy trade between crypto and fiat currency. Quick transaction times guarantee satisfaction for all involved in the process, and low transaction fees make it more likely that users will continue their use of the service.

For a fast and efficient way to transfer funds, cryptocurrency or otherwise, be sure to check out Stellar (XLM)!