ETHS6000 times increase, does it have real value in addition to the inscription meme?

Author: Jaleel

Up to now, the turnover of the Ethions platform is 7,000 eth, the floor is 4,032U, and the cost of the new market on June 18 is less than 1U, and those who have not left the market from the beginning to the end have made 6,000 times the income.

! [ETHS6000 times increase, does it have real value in addition to the inscription meme?] (https://img-cdn.gateio.im/webp-social/moments-69a80767fe-0c8796454e-dd1a6f-cd5cc0.webp)

Chris Lee, former CFO of HuobiGlobal & former CEO of OKX, affirmed the power of trading platforms and communities in the Greater China region, and expressed optimism about the potential of ETHS.

! [ETHS6000 times increase, does it have real value in addition to the inscription meme?] (https://img-cdn.gateio.im/webp-social/moments-69a80767fe-a536f6ede5-dd1a6f-cd5cc0.webp)

Last month, BlockBeats discovered the logic behind Ethions. At that time, the ordinals ecosystem was still in a state of silence, and after 3-4 months of 270-300, Ethions was suddenly pulled to 800U.

In the process of Ethion’s wave of rise, KOLs found a lot of traffic passwords in it, which played a role in fueling the fire, including “#ETHS” in the post, as long as it takes some time to “silently bloom” and wait for the ETHS army to attack, you can get a lot of one-click triplets.

! [ETHS6000 times increase, does it have real value in addition to the inscription meme?] (https://img-cdn.gateio.im/webp-social/moments-69a80767fe-cd8658f354-dd1a6f-cd5cc0.webp)

In Ethion’s Telegram, community members are also on standby, all charging to drive traffic to relevant tweets, the higher the traffic, the more KOL will say, and the higher the price. Driven by them, more and more KOLs are swiping the screen for relevant content to form a strong traffic password.

L2 New Narrative

Ethions enables non-financial and arbitrary data to be written to the Ethereum blockchain, allowing users to burn any type of file as long as the file size does not exceed 96 kilobytes. According to its creators, although at the moment it only allows images – this will change in the future.

These burns make use of what Ethereum calls “Calldata”, which refers to the data provided in calls to smart contracts. According to Lehman, this is cheaper and more decentralized than using contract storage. This protocol “guarantees the uniqueness of all valid Ethions content,” the creators wrote on Twitter.

BlockBeats wrote about ETHions when it went live, read: “Ordinals-induced ‘NFT atavism’, not a return to idealism”.

In addition to this, another way for the Ethion army to operate is to compare ETHS to L2, and this new narrative has gained strong momentum within the community.

“ETHS is another idea for Ethereum’s layer 2, which is a separate chain and can close the backdoor. ETHS is traded on the Ethereum mainnet, gas fees are as cheap as layer 2, and swaps, DeFi, and GameFi on the mainnet can all be implemented on ETHS. The most important thing is that he runs on the mainnet, and he can’t close the backdoor, which is more secure and decentralized than the second layer. Now the market value of various second-tier is billions, and the ETHS is only a few million” This sentence is the expression of the community when it is spread to the outside world.

And the source of this new L2 narrative is the ESIP-5 and ESIP-6 development proposals that Ethion has launched. Proposal ESIP-5 refers to Bulk Ethion Transfers from EOAs. Currently, only a single inscription can be transferred in a transaction for non-contract addresses, but after ESIP-5 is launched, it will support batch transfer of inscriptions in a transaction. According to @0xHirsch’s tweet, up to 4,000 inscriptions can be transferred per transaction, costing only 0.11 ETH under the current gas fee.

Therefore, as the ESIP-5 and ESIP-6 development proposals are about to be executed, Ethion’s community members believe that "ETHS can achieve cheaper gas than L2 without network switching compared to other L2 solutions (e.g., ZK, ARB). After upgrading ESIP-5 today, the gas per transfer has dropped to about 0.05u, and the gas interaction is cheaper than many L2s. 」