Did Yuga labs clog the Ethereum mainnet?

Source: Yuga Labs. Yuga Labs, the startup behind the Bored Ape Yacht Club (BAYC) that's valued at $4 billion, had its highly anticipated Otherside metaverse mint on Saturday night, clogging the Ethereum mainnet and sending gas prices to shocking heights.

What is an Ommer in Ethereum?

An ommer is a block whose parent is equal to the current block’s parent’s parent. Let’s take a quick dive into what ommers are used for and why a block contains the block headers for ommers. Because of the way Ethereum is built, block times are much lower (~15 seconds) than those of other blockchains, like Bitcoin (~10 minutes).

What is Oasis Ethereum Paratime?

This parallel approach, known as ParaTime, allows the Oasis blockchain to reach thousands of smart contract transactions per second (TPS). Due to its high throughout, the gas cost on Oasis Ethereum ParaTime is several orders of magnetudes lower than Ethereum.

What's going on with Ethereum?

@Paper Street Research The current progression on especially ethereum is decentralized finance applications (DeFi) and non-fungible tokens (NFTs). The DeFi space has grown from zero by the end of 2019 to $1b by June 2020 to $23b+ by the end of 2020. This is a remarkable growth of a nascent industry.