Ethereum is the first smart contract in this crypto world and there are many good altcoins using ethereum network.
And almost everyone who joins this ecosystem knows ethereum which means they trust ethereum for their own investment
Topic: Ethereum vs Competitors: Who will lose Relevance? (Read 360 times)
Shanghai upgrade is finally happening, but is it too late? Will Ethereum even be relevant by the time it finishes upgrading? Or are they taking too long?
Lots of EVM competitors now:
a) Polygon zkEVM functionality
b) Cardano now has native EVM
c) Filecoin added VM compatibility
Check out our take, and then reply with feedback of your own:
https://www.youtube.com/watch?v=GO4-cOgo7j4
How is polygon competition for eth? It's literally build on eth to scale it. It wouldn't exist without eth. Comparing those would be like comparing roads to cars or electricity to electric cables.Lots of EVM competitors now:
a) Polygon zkEVM functionality
b) Cardano now has native EVM
c) Filecoin added VM compatibility
Check out our take, and then reply with feedback of your own:
https://www.youtube.com/watch?v=GO4-cOgo7j4
But Cardano and filecoin can exist in the same space, i don't mind them as healthy competition is always needed for development, but i don't think that they stand a change of getting any of the developers from eth. As devs go there where the network effect and profitability is.
Shanghai upgrade is finally happening, but is it too late? Will Ethereum even be relevant by the time it finishes upgrading? Or are they taking too long?
Ethereum will always have relevance both now and in the future, If you watch closely most of the project are fork of ethereum, some didn't even change anything aside colors, so ethereum will always have relevance because of massive community support, majory of people in crypto space holds ethereum in their wallet ETH has been so stable since then even if there’s a new competitor coming into this market, it is more established and many good projects under its chain and that makes ETH more ok. I don’t think ETH will lose its relevance, it will still be the top altcoin and its value will continue to increase. Though most probably its competitor will continue to challenge ETH but still in the end, no one can replace ETH on top.
as for me, ethereum has no competitor and I don’t think there will be, how many projects have already been that said that when their product is released, they will crush ethereum and it will lose relevance, but this has not happened yet and I think it will not happen, since ethereum is stable as once legendary
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All of competitors are trying to be integrated to the ethereum blockchain which mean if ethereum blockchain is really important. I think that ethereum will always be relevance and it's caused by ethereum blockchain is always become the one that leading the ethereum smartcontract programming.
There have been many L1 in the market but people are still picking ethereum even though the fees was quite high at this moment. I think that if if you can't even compare ethereum with l2 blockchain as l2 being made as solution for ethereum.
There have been many L1 in the market but people are still picking ethereum even though the fees was quite high at this moment. I think that if if you can't even compare ethereum with l2 blockchain as l2 being made as solution for ethereum.
Most people now use something that many people already know and use, as well as ETH which is too big and will never lose its relevance.
Even though its competitors are much more efficient, it is still the pioneer who is most in demand.
I do agree with this statement, veryone just seeks something that they already used to and that is eth, doesn't matter if the other party got some massive ultra scalability everyone just sticks with ethereum at this point.Even though its competitors are much more efficient, it is still the pioneer who is most in demand.
heck even if you see the uniswap smart contract, see how active it is, spending millions of dollars just for fee alone in a day and that's only one contract, the other aren't that far off from what uniswap is having.
honestly I doubt if there is any coin out there that eventually gonna overtake ethereum it's just already too big of an altcoin, it's like the giant of altcoin much like having similar bitcoin domination but in altcoin category.
even right now like some people have said, coins like polygon, solana, have been losing their userbase each and every day. I wonder what's gonna be happening next few years into the future with these coin in general.
most of the competition already losing relevance, current ETH fee which means high traffic reflects that. just mention some of the other competition they didn't even mentioned alot these days.
instead they are being replaced by layer 2 which acts like supportive blockchain for ethereum, certainly this could only means one thing, the competition has been losing their relevance ever since.
instead they are being replaced by layer 2 which acts like supportive blockchain for ethereum, certainly this could only means one thing, the competition has been losing their relevance ever since.
A:
I'm not sure what you mean by "time" but it sounds like you're talking about. There's no point in waiting until the end of the year to upgrade. That's a lot of work, and it's not going to happen overnight.
In order to get a chance to work on something, you need to be able to keep up with the pace of the market. If you don't have a ton of time to do it, you're going to end up with a lot of work to do.
As an example, let's say you're looking at a coin that's worth $100,000. You've got a bunch of people trying to sell it, and you're wondering The problem is, you don't know how much it will cost
So, what you need to do is figure out how much work you need to do to get it into the hands of a lot of people. If you're going to spend a lot of time on it, you need to make sure you're not overcomplicating things
I'm not sure what you mean by "time" but it sounds like you're talking about. There's no point in waiting until the end of the year to upgrade. That's a lot of work, and it's not going to happen overnight.
In order to get a chance to work on something, you need to be able to keep up with the pace of the market. If you don't have a ton of time to do it, you're going to end up with a lot of work to do.
As an example, let's say you're looking at a coin that's worth $100,000. You've got a bunch of people trying to sell it, and you're wondering The problem is, you don't know how much it will cost
So, what you need to do is figure out how much work you need to do to get it into the hands of a lot of people. If you're going to spend a lot of time on it, you need to make sure you're not overcomplicating things
Shanghai upgrade is finally happening, but is it too late? Will Ethereum even be relevant by the time it finishes upgrading? Or are they taking too long?
Lots of EVM competitors now:
a) Polygon zkEVM functionality
b) Cardano now has native EVM
c) Filecoin added VM compatibility
Ethereum will never lose relevance, but the question is asked in a way that it makes you want to say one of them will, you could always say something like both of them will or none of them will. This is why it is important to make sure that you could do as well as you possibly could. This is how you are going to do well, you will end up with a proper return if you think outside of the box, in this case outside of what is asked.Lots of EVM competitors now:
a) Polygon zkEVM functionality
b) Cardano now has native EVM
c) Filecoin added VM compatibility
I personally believe that neither will lose relevance, maybe ETH will stay, and the other coins and tokens will stay as well? I think something like matic, ada, sol, avax etc all look like a good thing and should stay, even if a few goes down, something new will come out as well. So that looks like neither will lose relevance in the near future.
The Ethereum upgrade is an important step in the development of the network and in the long run can make Ethereum more efficient and competitive in the cryptocurrency market. However, like any other update, it may take time before it is fully accepted and implemented on the network.
Competition in the cryptocurrency industry is indeed getting fiercer and the emergence of competitors such as Polygon zkEVM, native EVM in Cardano, and virtual machine compatibility in Filecoin could be a challenge for Ethereum. However, Ethereum has a large community of developers and users who continue to create new projects and applications based on Ethereum, which may keep it in demand in the market.
It is impossible to say exactly what will be the fate of Ethereum in the long term and which projects will be more successful. However, competition in the industry can lead to new and better technologies and projects, which can ultimately benefit the entire cryptocurrency community.
Competition in the cryptocurrency industry is indeed getting fiercer and the emergence of competitors such as Polygon zkEVM, native EVM in Cardano, and virtual machine compatibility in Filecoin could be a challenge for Ethereum. However, Ethereum has a large community of developers and users who continue to create new projects and applications based on Ethereum, which may keep it in demand in the market.
It is impossible to say exactly what will be the fate of Ethereum in the long term and which projects will be more successful. However, competition in the industry can lead to new and better technologies and projects, which can ultimately benefit the entire cryptocurrency community.
Currently, indeed we can find several Ethereum competitors that are quite more effective and stronger. however it makes for a good rival, especially on the transaction fees front. Ethereum even has a bigger cost, especially during bullish times. but now the fee has increased. While other networks still provide a small fee. So if this keeps happening, wouldn't it be bad for Ethereum itself because maybe over time it will lose more and more users of the Ethereum network?
I definitely agree with that. They won't only lose users that use the chain for transactions but they will start losing developers and projects willing to use their protocol to create and run their decentralized applications because of the rising transaction fees which are obviously an issue for a normal user and projects will need to see all these factors.If I was to create a project to provide some utility to my customers or users, I would obviously look for a blockchain protocol that can allow me and my users to spend very less money on transaction fees to enjoy costless or very cost-friendly transactions all the time.
Most people now use something that many people already know and use, as well as ETH which is too big and will never lose its relevance.
Even though its competitors are much more efficient, it is still the pioneer who is most in demand.
Even though its competitors are much more efficient, it is still the pioneer who is most in demand.
To me the competition in this market is for everything below except bitcoin and Ethereum. After many years in the market until now I only see that many new projects appear that just want to take the place of Ethereum, but as a result they often fail and fail to achieve their goals. But what ETH has will be difficult to shake, even if the news surrounding the opponent takes restrictions from the network, gradually over time, this does not make much sense. A huge community of users and more and more I see it being seen as a speculative asset rather than how it will be.
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a) Polygon zkEVM functionality
I'm going with Polygon zkEVM functionality. Polygon is a serious project and Polygon is one of the projects that is helping Ethereum to scale since day 1, as Polygon was a popular layer 2 network during the early days of layer 2. a) Polygon zkEVM functionality
So for me, I don't think so Cardano and other projects will have the power to compete with Polygon. Polygon got a strong team and community.
ETH has been so stable since then even if there’s a new competitor coming into this market, it is more established and many good projects under its chain and that makes ETH more ok. I don’t think ETH will lose its relevance, it will still be the top altcoin and its value will continue to increase. Though most probably its competitor will continue to challenge ETH but still in the end, no one can replace ETH on top.
Today, I consider eth one of the most stable and promising crypto-money and therefore it is the most relevant and there are practically no alternatives today, well, of course, the alternative is bitcoin, but it’s completely different, and everyone who wanted to outdo eth didn’t work out for them today 
I think you are underestimating Ethereum. Ethereum is way ahead of all other altcoins in terms of value, so there is no comparison with those chains. It is the leading altcoin and, in my opinion, there is no question about its relevance in the future.
ethereum will hardly lose its relevancy in the other hand the so called ethereum killer are always losing their relevancy at the end of the day.
ethereum as a platform and as a smart contract based blockchain is already having too much capital, the so called ethereum killer even though have significantly cheaper gas fee required, just stuck and didn't grow.
ethereum as a platform and as a smart contract based blockchain is already having too much capital, the so called ethereum killer even though have significantly cheaper gas fee required, just stuck and didn't grow.
Currently, indeed we can find several Ethereum competitors that are quite more effective and stronger. however it makes for a good rival, especially on the transaction fees front. Ethereum even has a bigger cost, especially during bullish times. but now the fee has increased. While other networks still provide a small fee. So if this keeps happening, wouldn't it be bad for Ethereum itself because maybe over time it will lose more and more users of the Ethereum network?
I don't think eth will lose it's relevance from anytime now. ETH is still being used or have a strong consideration by many developers and they are on the top of their game today even with the competitors advancements. ETH is an altcoins that is always a part of a trend and people use it even before their upgrade where their fees are ridiculously high. They are one of the successful pioneers of altcoins and I don't think that they will lose their shine even on the future trends. Their competitors knows how well ETH is supported by the community and I believe that they are aiming to get on par or surpass it. I've saw so many eth clones out there and no one to date surpass ETH.
ETH has been so stable since then even if there’s a new competitor coming into this market, it is more established and many good projects under its chain and that makes ETH more ok. I don’t think ETH will lose its relevance, it will still be the top altcoin and its value will continue to increase. Though most probably its competitor will continue to challenge ETH but still in the end, no one can replace ETH on top.
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