While Bitcoin was created as a decentralised, digital currency focusing on being a store of value and a medium of exchange by solving the quintessential double spending issue, Ethereum was created to take full advantage of the blockchain and empower people to build and run applications on it via smart contracts. The Rise of Ethereum Ethereum calls itself “the world’s programmable blockchain”. It has grown tremendously since its release in 2015. To date, it is the 2nd largest cryptocurrency by market cap (~US$481b) and has enabled many innovative use cases, such as the growth of NFTs, DeFi, Decentralised Autonomous Organisations (DAOs) and over 2894 dApps, according to State of the dApps. Source: Reddit.com Alas, as Ethereum’s popularity as an application layer grew, several issues have arisen as the volume of transactions significantly increased. The Problem(s) with Ethereum 1) Rising Cost of Transaction (Gas Fees) In 2017, Vitalik Buterin, co-founder of Ethereum, publicly stated that “The Internet of Money should not cost 5 cents per transaction.”...