Topic: Another Ethereum killer? The next Bitcoin? (Read 421 times)

shifting ethereum to become the king of altcoins is not easy, even now SOL has not been able to shift USDT from rank 4 CMC and BNB from rank 3 CMC. it is possible to shift USDT not too difficult because SOL once displaced USDT from rank 4, but to shift BNB from rank 3 is certainly not going to be easy because BNB is backed by the largest exchange today. 

The way the Solana blockchain is structured, tells us it's far less decentralized than competing smart contract platforms like Ethereum and Cardano. Consensus mechanisms greatly affect a cryptocurrency's degree of decentralization. Solana uses a type of BFT (Byzantine Fault Tolerance) consensus algorithm, so there's that. To make matters worse, the project's developer team is planning to introduce an "observation system" in order to "better identify and patch issues accordingly". They came up with this after a serious of network disruptions faced lately by the Solana blockchain. I can't imagine how SOL will last for long if it takes a centralized approach. You can look for more info about Solana's level of decentralization here: https://cryptobriefing.com/how-decentralized-is-solana/

With what's been happening with Solana lately, I don't think it will "kill" Ethereum anytime soon. Who knows how far it'll last? 

@Abiky. I agree on the represntation on what cryptocoins should or should not be, however, in blockchains that want to be the backend for decentralized smart contracts and applications, how much decentralization does it really need? Solana is more centralized, however, is it centralized described as a network running from only 1 server? I reckon we should begin to view it deeper more than the storylines are telling us.

Exactly. Solana often sacrifices decentralization in order to obtain high performance and cost-efficiency. This greatly defeats the purpose of crypto/Blockchain tech. Why'd you want to use something cheap and fast, when it can be extremely vulnerable to external attacks or manipulation? People don't seem to get what crypto is all about since they're only following the money. They'll regret themselves dearly once everything goes down the drain at a fast pace. It's no secret that Solana faced a network disruption some time ago. This shows us that the network is not as reliable and secure as many thought it would be.

Let's face it, no competitor can outmatch Ethereum no matter which shiny new features it has. EOS once claimed to be the next "Ethereum killer" only to fail doing so in the long term. Even Polkadot was thought to be Ethereum's successor when there was a lot of hype surrounding it. You really can't beat something that it's decentralized and has first-mover advantage on the market. Saying that you'll "kill Ethereum" is like saying you'll "kill Bitcoin". Instead of trying to defeat ETH, projects should focus on taking their own path to help make crypto/Blockchain land a better place. Just my opinion

However, it is being a little centralized that causes Solana, Binance smart chain and other blockchains to be faster than their competitors. If you ask them to be more decentralized, it will be more work for their to transmit data to all of the nodes if their are more of them and slow them down.

There was an article about this where it said some centralization is acceptable because for blockchains to work on a real world setting, it must be a balance between speed and security.

What I feel about the topic Ethereum killer is that it's more interesting to discuss, bro, if for research/results, it's better to have a single identity,

if the form Anticipate between some of the coins above to avoid prolonged bearishness, which one do you choose bro?

Every project that comes out now claims to be the next Bitcoin or Ethereum or killer, this is to attract attention and invite people to check on their project I have seen a lot of projects like being hype as the next one, people look and check this kind of project because they want to be an early bird and get in while cheap, but many of them did not live up to people's expectation.

I've already read here on Bitcointalk similar info about Solano ( https://bitcointalksearch.org/topic/ethereum-or-solana-5368338  - Ethereum or Solana?
https://bitcointalksearch.org/topic/--5372921  - The Battle of the Blockchains: XDC vs Solana. Who is Ethereum Killer?
https://bitcointalksearch.org/topic/how-good-is-solana-and-can-it-run-along-ethereum-in-long-run-5362442  - How good is Solana? And can it run along Ethereum in long run?) . Obviously Solana is good alt but it is still under a big question whether it can compete with ETH.
You can find also themes where  is discussing Polkadot (that future is among DOT and it will become ETH killer because it has cool blockchain https://polkadot.network/ , https://bitcointalksearch.org/topic/polkadot-can-take-place-of-ethereum-5291107 - Polkadot can take place of Ethereum?) and many other alts: Cardano ( https://bitcointalksearch.org/topic/how-cardano-aiming-to-solve-problems-that-ethereum-cant-solve-5329890  - How Cardano aiming to solve problems that Ethereum cant' solve?) , Ripple ( https://bitcointalk.org/index.php?topic=1151866.500 - Ripple vs Ethereum) , Neo ( https://bitcointalksearch.org/topic/neo-vs-eth-2752393 - NEO VS ETH) etc. That these alts can compete with ETH and become better ( https://bitcointalksearch.org/topic/coins-with-a-potential-like-the-ethereum-5368837 - Coins with a potential like the Ethereum.).
However let’s face the truth, despite of huge fees and some problems ETH is on the second position of Coinmarketcap. Buterin’ team is always working over ETH platform to make it more interesting, better and quicker. Ethereum 2.0 despite of all criticism is working. A lot of developers continue using ETH platform as a most easy and reliable way to create their projects. NFT, thousands of Defi projects, a lot of crypto games – all these are based on ETH. My position is strict: I still think, other alts have no chances to chase and overtake ETH.

They usually have this statement to hype their own project, I know SOL is also a good one but its not easy to beat ETH and they should look for BNB first before talking about ETH. Well, there’s a lot of competitors in the market and they are all doing good but still ETH was able to remain on top. I believe if they really want to beat ETH then they must continue to develop great things, this is not easy to achieve but it may happen in the future, no one knows.

As for me, it will take Solana time before it will move higher than Ethereum not minding the market friction that it has been able to fixed since existence. Such statement is easy to say so as to encourage new investors to put in money as that will move the market direction upward.

We can already see by the example of Balance Smart Chain what happens to the network when the number of users increases and the number of projects running on the BSC blockchain increases. The same thing will happen with Solana when the load on the network increases due to low commissions. But we must admit that Ethereum developers also have their own plans, although they are being implemented more slowly than the market requires.

Does it really matter whether it is decentralized or centralized? Maybe it’s all about just being real good?
Solana has been pulling a heavy weight as of recent, although I wouldn’t say that’s enough reason for it to cross Ethereum. Ethereum is quite strong, and so far I think it has only been XRP that was able to beat it to that second position, but after sometime it still went back and Ethereum took back its rightful position.

It always seems like ETH has cemented itself in that position and wouldn’t be going down again, just like Bitcoin seems to have taken the first position in general for good. And the ETH 2.0 is a better version and would mean further progress.

I've just watched what might be the most popular video about Solana on Youtube, as I didn't have a good knowledge of this project. The promise of 710k transactions per second could be a big deal, specifically for adoption of a crypto as money. Bitcoin does have a big scalability issue, and it seems that, from a technical standpoint, Solana is better for a situation with tons of payments. As for proof of history, I'm not sure if it's legit enough as a consensus mechanism to gain enough adoption and support from the crypto community. And support is key, the attractiveness of technology itself is not enough. So I don't think it's even realistic to predict Solana surpassing Ethereum.

Yeah but how can something be an ETH killer when it is heavily centralized. I know that will change at some point , but currently that is not the case. I do like what they are doing, and their transaction throughout is amazing, combined with their speed, they have a chance to take them out. But only if they decentralize. Time will tell all!

Agreed. Solana can fall up to 85%, however, we cannot be hypocrites in the cryptospace. In reality, you also know what can fall 85%? Bitcoin because it is pumped on leverage from $10k to $60k which we sometimes cannot be certain anymore if the USDT used is really backed by dollars.

Similar to Solana and everything else in the cryptospace, it is growing into a bubble. The bubble pop will certainly be next.

Let's see once Ethereum 2.0 is done. Will it still be called an Ethereum Killer or just another altcoin out of the thousands out there.
Anyone can claim they are better than another and even with Bitcoin. What if it is and we missed it?
But it's also nice to stay at your right position when you know it is not better than it. Stay at the number 2 position and be the better option over any shit altcoins that is being created.

binance has indeed become an alternative that is often used after the high-cost ethereum platform, but I believe with you that it is very difficult to replace ethereum in altcoins, despite the obstacles so far. Obviously ethereum will also continue to improve itself, and binance will also have the same problem if BNB prices are high, just like erc20 is now with ethereum.

Once again, with ethereum's long history, it's not easy for investors to want to change with just one thing because everything is well thought out.

Ethereum will probably remain as the best altcoin. I think before that BNB will beat Ethereum but I was wrong, so I don't think SOL would be able to do that since Etherum although the network is not perfect, but once the ETH 2.0 is out, it will improve and investors will be hype more. ||

We should also consider the length of team of their existence, and ETH been on the right path although the development are delayed.

In every phase of development there are challenges to be surmounted, Solana had a network outage that as long been fixed and there has been no repeat of it since then.
What he is saying is true and not cheap talk, Solana fixes a lot of problems with Ethereum and if Ethereum Devs don't rise to the challenge, Ethereum will one day become obsolete and that is the reality.
For max blockchain adoption, transaction fees has to be minimal and transaction rates must go up.

You are correct that Sam Bankman-Freed is not the biggest shark in this market, and crypto exchanges are not made to enrich hamsters, but to ruin them.
I have provided a link for beginners to understand that from the current price of solana can fall from 50 to 85% in a bear market.
Even if you test the Solana ecosystem, you can see that it lags far behind competitors, and its price increases more than 100 times since the beginning of the year.