Due to the high cost of gas on the Ethereum network, users of the DAI stablecoin will have to think twice every time they want to conduct a transaction as the gas fee can represent more than 50% of the total transaction depending on the amount. RSK and MakerDAO reported a Cointelegraph in Spanish Offering an alternative using the Rootstock (RSK) blockchain and Defiant, a non-custody wallet that supports both networks.
The success of Decentralized Finance (DeFi) has put enormous pressure on Ethereum, the network on which most decentralized applications (dApps) are based.
DeFi activity has increased in recent months and as a result, users have had to pay transaction fees for miners or “gas”. higher and higher. This has made interacting with dApps very expensive for regular users. (Source: https://etherscan.io/gastracker)
This situation affected, among other things, the users of the DAI stablecoin, as it is executed in the Ethereum network. However, there are alternatives to be able to conduct transactions with DAI without paying such a high cost for the transactions by using the Rootstock (RSK) network through the Defiant wallet.
To understand the situation with gas, it must be noted that for every interaction with the Ethereum blockchain, users must pay a fee, which is measured in units of ETH called Gwei (one billion Gwei = 1 ETH). The more complex a transaction, the more gwei it takes to carry it out. While there are Ethereum wallets that allow users to limit the amount of gas they can pay for a transaction, there is a minimum fee that depends on the number of transactions to be made at that point in time.
The gas in RSK
RBTC is RSK’s native token and is tied 1: 1 to BTC. It is used as gas for the execution of the smart contract, just as ETH is used as gas for Ethereum.
An important feature of RSK is that transactions at current values are cheaper than Ethereum.
Ethereum / RSK cost comparison
(Source: CoinmarketCap and RSK)
From DAI to rDAI
So they declared from RSK: An alternative to the Ethereum network for handling DAI would be to pass on DAI to rDAI, that is, transferring DAI from Ethereum to RSK using the Defiant wallet, which supports both networks. The Ethereum token bridge developed by the RSK Infrastructure Framework (RIF) team is used for this. The bridge blocks these tokens in the Ethereum blockchain and stamps a corresponding amount in RSK, which ensures a stable and decentralized bond through intelligent contracts.
In this way, DAI can be used by taking advantage of the low gas rates in the RSK network. Sending DAI from one wallet to another using RSK would cost almost 80 times less than sending it over the Ethereum network.
Fiorella Scantamburlo, CMO at Defiant, commented: “At Defiant we develop solutions to make cryptocurrency transactions easy and affordable for everyone. The integration of rDAI solves a problem for millions of users around the world who use DAI to store or send money transfers.
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