Madbyte Update — October 1, 2022

On September 15, 2022, the Merge happened on the Ethereum blockchain, removing the need for the original Proof-of-Work consensus layer and replacing it with the newer Proof-of-Stake version that had been running in parallel for almost two years. This new upgraded Ethereum requires 99.95% less energy consumption to run.

In 2021 Ethereum saw several layer-2 (separate blockchain that extends Ethereum and inherits the security guarantees of Ethereum) solutions emerge that have lowered the cost of using it. The current average transaction on layer-2 is only $0.05. It wasn’t uncommon in 2021 to see fees go over $50 per transaction on the Ethereum mainnet.

Madbyte moved onto the Ethereum network in early 2019 when fees were less than $0.02 per transaction; by 2020, the transaction fees had risen so much it had become unusable for small transactions.

Now with the Merge, layer-2 solutions and sharding coming in the future, Ethereum is looking like a great future blockchain for Madbyte [MADX] to take further advantage of.

The MADX token is on Ethereum, BSC, Fantom and Waves networks. You can find the token on several swap exchanges, such as Pancakeswap on the Binance Smart Chain and SpookySwap on Fantom. Find more info on Madbyte.com.

All the best,
Madbyte Team