Compverse Blockchain & eFIL
Last updated
Last updated
eFilecoin and the Compverse Blockchain:
One of the compelling use cases for eFilecoin within the Compverse Chain is its role in disaster recovery node operations and Filecoin mining. To purchase computing power for disaster recovery nodes in our traditional Ararat disaster recovery services, users need to utilize CPV, which serves as the native cryptocurrency of the Compverse blockchain, to exchange FIL and eFIL. This integration of eFIL into Ararat's solutions highlights its practicality and value within the ecosystem. Within our Short-Term Mining, we leverage both FVM and Compverse to allow users to participate in the Filecoin ecosystem and maximize on rewards.
Advantages of the Compverse Chain and Its Impact on Transaction Costs:
The Compverse Chain, on which eFilecoin operates, introduces a unique approach to blockchain architecture that offers distinct advantages over traditional chains.
Minimizing Gas Fees for Reward Distribution
One of Ararat's distinctive features is its commitment to sharing rewards with users and miners through a smart contract on a daily basis. This approach, while fostering engagement and participation, comes with a trade-off – gas fees incurred during these transactions. These fees are primarily denominated in Filecoin (FIL), creating a notable cost component. Here's where eFIL plays a pivotal role in cost optimization.
The Advantage of eFIL in Gas Fees
Ararat's decision to utilize eFilecoin for reward distribution brings about a remarkable reduction in gas fees. Unlike FIL, eFIL transactions are calculated in CPV (Compverse) format rather than FIL format. This subtle yet significant distinction is the crux of gas fee efficiency. Transactions in CPV format translate to lighter, more streamlined operations that save on gas costs.
The Efficiency of Compverse Chain
The efficiency of eFIL-driven operations within Ararat's ecosystem is further amplified by the innovative architecture of the Compverse Chain. This blockchain architecture differentiates itself with a shorter blockchain length. This reduction in length directly translates to lower electricity consumption, decreased transaction costs, and notably, minimized gas fees. The Compverse Chain's architecture aligns well with Ararat's pursuit of operational efficiency and sustainability.
Benefits of eFIL for Ararat
Gas Fee Savings: The adoption of eFIL directly results in substantial gas fee savings, optimizing the cost of reward distribution.
Efficient Reward Mechanism: Using eFIL ensures that users and miners receive their rewards efficiently, without the encumbrance of high gas costs.
Sustainable Operations: The reduction in energy consumption aligns seamlessly with Ararat's commitment to sustainable blockchain operations.
The embrace of eFilecoin is more than a stability play; it signifies a strategic move to optimize operations, elevate user experience, and contribute to a greener blockchain environment.
