Gas fees are contentious for onchain users, The Root Network wants to change that
The Root Network Overview - February 5, 2025
Welcome back to The Root Network Overview. We’re creating the best content for the AI and metaverse ecosystems to get up to speed on the latest updates, metrics, developments, insights and more on The Root Network and Futureverse.
🚨PSA: Sign up for The Root Network Quarterly Ecosystem Update with Aaron McDonald, co-founder and CEO of Futureverse, on Feb. 11 at 5:30 pm EST.
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The ecosystem insights
$ROOT price: $0.01634 (-15.17%)
The Root Network holders: 307.3K (+0.23%)
The Root Network total transfers: 1.95M (+3.17%)
The Root Network total transactions: 411.4K (+0.55%)
Total staked: 375.02M (+1.06%)
The percentages and metrics are calculated from its change over a 14-day time frame, unless noted otherwise.
Highlight of the The Root Networks
Diving deeper into some of the biggest updates from Futureverse.
💫What’s happening: Gas fees on The Root Network have been reduced an additional 38%, according to a statement by the team on X.
💫Why it matters: Gas fees are continuously a point of contention for users. Many people don’t want to participate in onchain activities if gas fees are more than a nominal amount – and especially if they’re high. While a number of chains have pushed toward this initiative, The Root Network’s latest push signifies its commitment to making onchain activities affordable.
This comes about 6 weeks after The Root Network announced in mid December 2024 that gas fees on its chain lowered about 65% than its previous amount. This signifies its continued commitment to making it cheaper.
In addition to gas fees lowering, the network is focusing on improving costs across a number of other facets: closing the gap between its native blockchain and EVM-chain costs, monitoring market conditions for fair fees and exploring automation elements to optimize for better market-driven options.
The Root Network allows any-token to be used for gas fees with the native FeeProxy pallet handling any swaps needed to XRP in the background, providing convenience for users. People can also bridge assets between the network, Ethereum and XRPL for interoperability.
This initiative could also lead to faster transaction processing, less congestion on the network and more optimized, efficient onchain interactions, thus making the chain more user friendly.
💫 TLDR: Gas fees are commonly seen as a friction points for users who want to interact onchain, but don’t have unlimited funds to do so. By minimizing the gas fees for users, the opportunity for onchain activity grows substantially.
For example, the real-time gas price on Ethereum to swap on the layer-1 blockchain ranges from $2.32 to $2.79, according to Etherscan data. While that might seem cheap, doing a bunch of transactions will make that amount add up quickly.
Gas fees are an important part of any onchain interactions, as they provide the transaction cost for activities on a network. But by making gas fees, among other elements, more affordable and accessible, it can encourage wider adoption onchain. This is especially true for smaller transactions, when users don’t want to pay a substantial portion of funds toward a small action.
Built on Root
OP3N shared a sneak peek into the development for its metaverse gaming experience on Epic Games Store
The Third Kingdom game announced 60,000 ROOT is available to the top 20 contributors during Challenge 2: The North Sector, check out more details here
THINK launched its Think Agent Standard, alongside an in-depth white paper
Aigent.run launch is coming soon, this is what you need to know
TRN Labs shared a breakdown of The Root Network’s plans and features to build a scalable Open Metaverse
Want to catch up? Check out the monthly Futureverse updates here.
Driven by community
Highlighting the companies, communities and users tied to The Root Network.
**Root.site l**aunched a community competition for users to create their own decentralized domain and win up to 20,000 in $ROOT
ICYMI: Listen in to Aaron McDonald on VonDoom’s X Space diving into The Root Network and Futureverse
Check out X user Cosmin Olx’s experience playing OP3N as a non-gamer here
Get involved in the future
Want to dive into the ecosystem full-time? Find the latest job postings here or get involved at an event below.
Participated in the recent Galxe campaigns? $ROOT rewards are now available on FuturePass Dashboards
Join Futureverse’s Quest 017 giveaway using Altered State’s Meme Machine
Listen to the Crypto Queen Show Ep. 54 for a discussion on AI, gaming, interoperability, XRPL and The Root Network
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.