​​Are These Cryptos The Next Ethereum?

Here are just a few of the cryptocurrencies that can steal market share from Ethereum:

Key Point

• Ethereum has lost its market advantage, but the new king of smart markets may not be found. Instead, some ciphers may appear above.
• Solana, Avalanche, Cardano and Polkadot are all running.

Looking for next Ethereum (ETH) For crypto enthusiasts, it’s somewhat a holy grail. Ethereum was the first cryptocurrency to introduce smart contracts and still hosts most of the applications. However, the world’s second-largest cryptocurrency suffers from network congestion and high gas charges.

Some others until Ethereum completes the long-awaited upgrade Smart contract crypto Lined up to gain market share. The most likely scenario is that the market has evolved to have 5-6 dominant players rather than the Ethereum monopoly seen today. The following ciphers all have a lot of potential and have the potential to become future market leaders.

1. Solana (SOL)

Solana We entered the top 10 cryptocurrencies by market capitalization last year. It was sluggish at 120th place at the beginning of the year, but by the end of the year it was in 5th place due to a price increase of over 11,000%. reason? Solana is one of the fastest cryptocurrencies around. Theoretically, it can process about 65,000 transactions (TPS) per second. In contrast, Ethereum currently manages 15-45.

Currently, Solana had some technical issues that could have been caused by the exponential growth of the platform. However, the outage has not stopped Solana’s growth. Currently, there are over 1,500 projects at some stage in the development of the ecosystem.

2. Avalanche (AVAX)

avalanche Underneath that hood are three separate blockchains, boasting the fastest time to finality in the industry. However, it is worth pointing out that Fantom (FTM) makes the same claim. Finality is the point at which transactions cannot be modified without becoming too technical. This is a bit like the difference between how long it takes to swipe your credit card and how long it takes the seller to actually receive the money.

Avalanche doesn’t have as many apps as Solana, but it is ahead in terms of locked totals (TVL). TVL is the value of all assets across all apps on the platform. According to DeFi Llama, the avalanche is in fourth place with $ 10.5 billion at the time of writing. Ethereum is still by far the best here, with TVL at around $ 130 billion.

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3. Cardano (ADA)

In the fast-paced world of cryptocurrencies, Cardano It’s a bit like a turtle running slowly behind many rabbits. Take a slow and steady approach to development, with a focus on peer-reviewing each step, rather than deploying a variety of new technologies early.As a result, it September smart contract function Last year-and still it took time to deploy the app.

Nevertheless, we hope that Cardano has a clear roadmap for the future, which means that its careful approach is unlikely to be hit by security or technical issues. You run the risk of being overtaken by a newer, more agile crypto project. Sure, you won’t win a short race, but you can eventually dominate. It’s a good cipher to keep your radar.

4. Polkadot (DOT)

Polka dot We have made some great progress in the last few months. Polkadot stands out because it solves another issue of Ethereum, interoperability. Polkadot helps blockchains communicate with each other. This is what Ethereum is not good at. Interoperability will be crucial to the evolution of the cryptocurrency industry as a whole, especially as the popularity of various Ethereum alternatives grows.

Polkadot uses a set of project-specific blockchains called parachains that feed the main system. Some of these parachains are currently in operation, and Polkadot’s TVL has increased by more than 1,400% in the past month. There are still ways to catch an avalanche, but this dramatic growth shows what Polkadot can do.

Conclusion

For all the talk about finding the next Ethereum, today’s crypto industry is a different place Vitalik Buterin We launched Ethereum in 2015. With more cryptocurrencies, technology is evolving and markets are much more mature. If crypto continues its current trajectory, it is unlikely that another dominant player will be seen hosting 90% of the applications on the network.

It’s also worth noting that Ethereum is still a major player. We are in the process of a gradual upgrade to resolve scalability and sustainability issues.Will take a big step later this year merge For a more environmentally friendly verification model. However, no full upgrade will be seen until at least 2023.

Ethereum still has the advantages of a pioneer, and many developers are familiar with the system and are prepared to put up with higher costs. In addition, Ethereum is load-tested more than any other cipher listed here, making it more reliable in terms of security and technical outages. Instead of looking for the next Ethereum, it may be worth looking for 5 or 6 smart contract ciphers that could join Ethereum and lead the pack.