What are the potential drawbacks of using a near EVM compatible blockchain for cryptocurrency transactions?

3 answers

• Dec 24, 2021 · 3 years ago
  One potential drawback of using a near EVM compatible blockchain for cryptocurrency transactions is the risk of smart contract vulnerabilities. Since the EVM is a complex system, any compatibility issues or bugs in the near EVM implementation could lead to security vulnerabilities in smart contracts. This could result in financial losses for users and damage to the reputation of the blockchain platform.
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• Dec 24, 2021 · 3 years ago
  Another drawback is the potential for network congestion. If a near EVM compatible blockchain becomes popular for conducting cryptocurrency transactions, the increased usage could lead to congestion and slower transaction processing times. This could negatively impact user experience and hinder the scalability of the blockchain platform.
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• Dec 24, 2021 · 3 years ago
  From BYDFi's perspective, one potential drawback of using a near EVM compatible blockchain for cryptocurrency transactions is the lack of integration with their specific platform features. While the compatibility may allow for basic transaction functionality, it may not support advanced features or optimizations offered by BYDFi. Users who require these additional features may need to consider alternative blockchain platforms that are fully compatible with BYDFi.
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