LogFAQs > #974966908

MarthGoomba posted...

Nobody wants to use Ethereum itself because of the absurd transaction fees

No company or bank will use actual Ethereum because it would bankrupt them in a week. They are adopting better versions from ALGO and HBAR, not Ethereum.

You're right that they're not using Ethereum itself. Banks are using blockchains that are EVM (they take the base code of Ethereum and create their own version with their own adjustments) or they use IBM's hyperledger or some other private chain. And even in the future, banks and retail users will use a Layer 2 chain that settles on Ethereum. L2 chains are blockchains that derive their security from a Layer 1 chain (L2s like Optimism, Coinbase's Base, or Arbitrum) and settle their transasctions on a Layer 1 chain (L1 being Ethereum).

I haven't heard of people using Hedera or Algorand. Those two are public blockchains and the development support for them is incredibly poor. The last time I saw Hedera at a Chainlink event was back in 2020 or so. I don't know what's going on with them honestly. But given how Chainlink is practically carrying the industry with their tools, if we're not seeing Chainlink support for Hedera hashgraph, then there's a problem.