Blockchain technology is seeing a rapid surge in adoption, and as new opportunities are opening up — new projects and chains are emerging to seize them in hopes of gaining an advantage against competitors. At this time, Ethereum is still the biggest development platform, but its high gas fees and inability to scale are slowly but surely turning developers, as well as users, away from the project.
This poses an excellent opportunity for alternative platforms to shine and attract users, which is why everyone’s biggest focus right now is on speed, efficiency, affordability, convenience, interoperability, and more. With that said, having a personal launchpad is a huge advantage for these emerging ecosystems, as this means that they can help out new projects launch their coins.
One example is BlueZilla which just launched its native launchpad called VelasPad, aiming to enrich the Velas ecosystem and help devs in search of a new place to call home get settled with greater ease.
The Importance of VelasPad
As mentioned, every blockchain ecosystem stands to gain from having a native launchpad. This allows an easy way to raise capital, issue tokens, increase transparency, and alike. VelasPad, in particular, is an officially endorsed, although operationally and financially separate venture to the entity which operates the main blockchain.
The main benefit of the launchpad is that any project that launches on this platform can be easily fast-tracked into Velas’ $5 million grant program. Naturally, this will do much to speed up the growth and development of the projects, help them reach the masses, and fund their initiatives, all for the purpose of enriching and improving the ecosystem in which they reside.
The initial grant candidates have already exceeded 40 at the time of writing, indicating a great popularity and demand. Furthermore, they will conduct their initial raises on VelasPad very soon. Despite the fact that the Velas and VelasPad teams are separate, they share a common vision of fostering accessibility and growth. Both aim to help fund and develop the next generation of blockchain projects, learning from the past, and aiming to satisfy the demand of the future, all housed within a blockchain adapted from Solana, presenting the highest on-chain TPS, with all the advantages of being able to process Ethereum smart contracts.
Another thing worth mentioning is that this launchpad is not a standalone project, but rather a part of a broader cross-chain effort. This is not surprising, given how big interoperability is in the crypto industry today. VelasPad is a part of a group of growing launchpad ventures by experienced blockchain studio BlueZilla, and some of their products are already quite well known. Many have already likely heard of the likes of ETHPad, BSCPad, and TRONpad, and now, VelasPad will join them.
All of these projects were developed by the Bluezilla Group, which is doing all in its power to help prominent blockchains expand, become more innovative, and attract more users. The launch of launchpads is a crucial part of that. For Velas, in particular, the launch of a native launchpad will not only be a big move but an entire gamechanger, since its goal is to impact the entire crypto industry by launching the next generation of blockchain projects.
Velas seems like a perfect host for the launchpad, given its massive TPS count, low cost of transactions, and other advantages over older and slower chains such as Ethereum. Velas’ benefits allow it to hit a 50,000 TPS mark, but it also supports Ethereum smart contracts, and it is already home to some rather innovative projects, like Vault, BitOrbit, and others.
In the end, Ethereum may have been the second most important project that the crypto industry ever got, but these days, it is no longer up to the task of serving as the biggest development platform. It is not scalable, it is not fast, and it is definitely not cheap when it comes to the transaction cost. Velas, on the other hand, solves all of these issues seemingly effortlessly, with advanced technology that has already caught the eye of many in the crypto development world.
While Ethereum will always have an important spot in crypto history, its tech is very outdated, and it is questionable whether Ethereum 2.0 will be able to match the growing demand of the increasing blockchain industry. Whatever the case may be, projects like Velas have already proven that they are more than a match for such demand, and developers will likely always rather choose a chain that they can believe in, rather than the one that is still living off the old glory days.