Note the following Ethereum killers in 2022

While Bitcoin and Ethereum have been the top ruling cryptocurrencies since the existence of digital currency, some other few cryptos are chasing after them and hoping to unseat them in their positions. For example, a few cryptocurrencies are already chasing after Ethereum with the hope to take over that second position in terms of transaction costs, scalability, and so many other factors.

However, the question is can they overtake or kill something as huge as Ethereum? Well, they can and cannot. In this article. We’re going to look at some of these Ethereum killers and see what they can do.

Upcoming Ethereum Killers

The upcoming eth killers are Solana, Cardano, Polkadot, and EOS. We’re going to examine their basics and see what makes them eth killers.

What is an Ethereum Killer?

An Ethereum killer is about how crypto players evolve as blockchains that can overcome the flaws of these already known players. This means that any player that can solve the problems that exist with the current structure of blockchain will overtake Ethereum eventually.

The players that are trying to solve these issues are the upcoming eth killers. Before we consider what they are, let’s see the shortcomings of Ethereum that forced investors to consider these other coins.

Shortcomings of Ethereum

Scalability

This is the first shortcoming of Ethereum and it’s a major issue because the eth blockchain mechanism can only hand thirteen transactions per second as it has become outdated. The slow transaction speed has led to a higher cost of a transaction that is mandatory to use the computing power of this ecosystem.

To tackle this high cost, several crypto exchanges provide resources to help improve users’ profitability. They do so by helping users make the most of the volatility of cryptocurrencies.

Sustainability

This is another shortcoming and is caused by the high cost of a transaction. Many people cannot afford the high cost of making a transaction on the system which is a huge problem.

Interoperability

This is a shortcoming that stops other blockchain networks from interacting with Ethereum ecosystem with approval and management.

These issues which are relevant to the longevity of the Ethereum blockchain are the main causes of why these competitors are growing and taking parts of Ethereum’s global market share. Let us look at these Ethereum killers.

Solana

Solana offers a faster block time of 400ms when compared with Ethereum which offers 10 seconds. Solana has its built support system of smart contracts and operates over 250 fully operational projects on its blockchain. With this, it holds the 5th position in the market cap for crypto players.

Why is it an Ethereum killer?

Solana’s ecosystem and its speed are why it is called an eth killer. Solana also allows sea level transactions which is a system of operating simultaneous smart contracts making it a fast blockchain compared to its rivals.

Cardano

Cardano is another popular eth killer. It was meant to be a DApps supporting and smart contract blockchain that would be dealing with blockchains. However, due to an Alonzo upgrade, it is now able to support different smart contracts and Non-Fungible Tokens (NFTs). It can also back-test its blockchain after every upgrade through its peer review system.

Why is it an Ethereum killer?

Cardano’s ADA token is based on a downturn principle which implies a fixed coin supply so no matter what happens, its demand will always rise. Its proof of stake consensus mechanism is environment friendly and has a long-lasting structure.

Polkadot

Polkadot was envisioned to be a Web 3.0 project that connects multiple chains to cause increased security and scalability. Termed the next generation blockchain, Polkadot promotes a multi-chain diverse structure. The idea leads to the creation of many blockchains on same relay.

Why is it an Ethereum killer?

Polkadot is responsible for Ethereum Platform’s scalability and governance. Due to its parachains which are created by Polkadot developers, interoperability is very much possible between different blockchains. Polkadot’s blockchain is forkless and cannot be shattered.

Bottom Line

Even though these crypto coins are better performing than Ethereum, it’s still miles ahead of them in global adoption and market cap. Ethereum also allows 80% of DApps to operate on its ecosystem which is a huge feat that these coins are far from achieving.

Once the ETH 2.0 is released, then the issues stated here may no longer be a challenge but until then, these guys are chasing down Ethereum.

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