Is there a new blockchain that will compete with Ethereum? - page 2.

Abiky

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Quote from: PhucS on October 10, 2021, 01:58:18 AM

As for the problem of too high transaction fees, Ethereum 2.0 is under development, which is the process of upgrading the Ethereum network to overcome the old disadvantages such as low performance, high transaction costs. However, there are currently a few networks that are considered to be able to compete with ETH like BSC or Polygon, they have great potential in the future, there are quite a few new projects developed on these two networks.

I don't think any other platform will be able to compete with Ethereum in the future. That's because none can outmatch ETH's level of decentralization and censorship-resistance. BSC and Polkadot may be good smart contract platforms, but they're much more vulnerable to attacks and network disruptions than ETH itself. Decentralization is what really makes crypto stronger. I think ETH 2.0 will solidify ETH's position on the market, becoming a force to reckon with. Other platforms will simply remain as an alternative than a replacement because of the reasons mentioned before. At least, the competition is healthy. As long as each project contributes towards the development of Blockchain technology, nothing else matters. Just my thoughts Grin

hannahB4

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I know of Binance and it really helped especially in my country when trading of Bitcoin was curtailed but I think I will still go for Ethereum because so far with the competition over the years this blockchain still stands.

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Quote from: cryptoknows on August 13, 2021, 11:34:09 AM

We all know about huge transaction fees, not the most convenient scaling and the difficulties of entering the ecosystem. Are there projects that will provide people with the best conditions for the implementation of their ideas in the cryptoworld?

Until now there has been no sign of a blockchain that can match ETH, xrp, bsc and there are advantages, although not perfect. Future don't know
which does not continue to work and go to gas related websites and websites

bhadz

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Quote from: bhadz on October 09, 2021, 03:12:11 PM

There would always be the idea that there's another blockchain that will be the next Ethereum chain because it's going to be cheap and easy.
But once it gets a lot of attention and there will be a lot of users are into it, that chain will also experience lag, high fee and slow transaction.
It is what of the next generation chains have to solve.

yes, that's very true. I think the offer you made in your statement is very good, because everyone goes through that sort of thing these days. the development of an innovation from a blockchain not only makes it easier for users but makes users disappointed with what they experience, as is the case with ethereum users today. hopefully in the future there will be more blockchain chains that can provide relief for holders.

There's already use case of blockchain in different companies and they're not related to cryptocurrencies. But, they enjoy using it and it's a solution that they've found into their company's system upgrade. But if we're going to relate it to cryptocurrencies, the same tech will be offer again and again until they've experienced so much demand and they have to upgrade a little by little which is the usual process of startup projects.

PhucS

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As for the problem of too high transaction fees, Ethereum 2.0 is under development, which is the process of upgrading the Ethereum network to overcome the old disadvantages such as low performance, high transaction costs. However, there are currently a few networks that are considered to be able to compete with ETH like BSC or Polygon, they have great potential in the future, there are quite a few new projects developed on these two networks.

Bollexz1

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We already got one wanting to overthrow the Ethereum reign but could only try as Ethereum blockchain as proven to be outstanding with its numerous update in the system and for this reason surpass Smart Chain and few others.

Renampun

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Quote from: cryptoknows on August 13, 2021, 11:34:09 AM

We all know about huge transaction fees, not the most convenient scaling and the difficulties of entering the ecosystem. Are there projects that will provide people with the best conditions for the implementation of their ideas in the cryptoworld?

you can see that there are currently many blockchains which are much faster and cheaper than ethereum...

Polkadot, eos and avalanche are much better than ethereum but they can't replace ethereum because the ethereum ecosystem is already very large and investors don't mind the expensive gas fee eth because they don't really care about that what they care about is the potential and the ecosystem.

Jaered

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There are at least 3 blockchains I can name, top of my head, that can compete toe to toe with Ethereum. The first is Solana. With a faster transaction speed and lower fees, its a no-no-brainer why its top there. The next is BSC. It has a slightly more costly transaction fee but more validators. Next is Polkadot. This is quite a competitive lots. There are others on their way too, but these 3 are my top

bhadz

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There would always be the idea that there's another blockchain that will be the next Ethereum chain because it's going to be cheap and easy.
But once it gets a lot of attention and there will be a lot of users are into it, that chain will also experience lag, high fee and slow transaction.
It is what of the next generation chains have to solve.

cafee_orange

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Quote from: arifteguhr on September 24, 2021, 04:11:23 AM

Quote from: cafee_orange on September 24, 2021, 12:05:37 AM

For now what really looks and continues to compete with ethereum is Binance!!.
because ethereum continues to be developed by its developers so ethereum is not easily rivaled by any blockchain including BNB or Binance.

Then if Binance is difficult to compete with, why do you say in the first sentence that Binance can really compete with Ethereum? I'm even surprised to understand what you're saying because in general Binance has not been able to surpass Ethereum at this point.

Do you believe Binance will be able to compete with ethereum ?
Until now the platform that is widely used is ethereum or Binance? ethereum developers don't stop in developing the erc20 platform so it's not easy to compete with ethereum.

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Quote from: nikola22 on October 06, 2021, 11:42:03 AM

don't forget about Solana with high capacity blockchain which develops its ecosystem with good pace. also there are such rivals as Avalanche, Cosmos and Tezos.

Competition between coins that already have their own Blockchain is definitely there, because every coin that has launched its own Blockchain is definitely very ready in terms of competing with others so that those who have more advantages will always be above it.

Solana and these other blockchain platforms are actually good, also, new coins that are being released ought to have their own platform, improving features and everything that Ethereum offers, honestly, these mentioned blockchain platforms are not the only ones ready to compete against ETH's blockchain, but the reason why ETH's blockchain remains to be on top is because of how many users ETH has compared to other platforms.

vermigerous

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For me it's not about competing, but some several investors and traders find it as competing for ethereum platform since many diverts their platforms into BSC chain rather than ethereum blockchain, maybe because of the transaction fees is more lighter than ethereum network. And besides, many projects now tend to use BSC Blockchain as their new innovative platform.

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Quote from: gwdf1 on October 04, 2021, 08:48:14 AM

Actually, people trust Ethereum more as we all know that it has a high level of decentralisation and it is really old with a huge ecosystem, so people continue using it. But Ethereum lose users because of its problems with scalability, this way different alternative chains (Polygon and Binance Smart Chain) have bigger daily volume now than Ethereum.

don't forget about Solana with high capacity blockchain which develops its ecosystem with good pace. also there are such rivals as Avalanche, Cosmos and Tezos.

Abiky

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Quote from: FinneysTrueVision on October 02, 2021, 03:13:17 AM

There is no individual Ethereum app or use case which I feel I can't do without. The alternatives on other chains are just as good. Maybe they are not as established so people will trust Ethereum apps more based on their reputation. As time goes on I believe we could see people migrating towards the cheapest fee options and that Ethereum's dominance will be greatly reduced.

Of course. Every popular dApp is on Ethereum these days. Not TRON, Polkadot, or any other smart contract platform. The reason why ETH has the most dApps is because it's the most decentralized and censorship-resistance smart contract platform in the world. Devs and everyday people prefer ETH's security and reliability even with the high fees and slow confirmation times.

There have been so many platforms claiming to be the next "Ethereum Killer", but they've failed in the long term. Consider how EOS lost its luster a couple of months since its inception, as people moved on to the next big thing in crypto. The same might happen with top smart contract platforms like Binance Chain and Solana. Until other platforms improve their security, Ethereum will remain as the leading smart contract platform for a long, long time. Just my thoughts Grin

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Quote from: FinneysTrueVision on October 02, 2021, 03:13:17 AM

There is no individual Ethereum app or use case which I feel I can't do without. The alternatives on other chains are just as good. Maybe they are not as established so people will trust Ethereum apps more based on their reputation. As time goes on I believe we could see people migrating towards the cheapest fee options and that Ethereum's dominance will be greatly reduced.

Actually, people trust Ethereum more as we all know that it has a high level of decentralisation and it is really old with a huge ecosystem, so people continue using it. But Ethereum lose users because of its problems with scalability, this way different alternative chains (Polygon and Binance Smart Chain) have bigger daily volume now than Ethereum.

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Quote from: mulia sabee on October 04, 2021, 04:35:58 AM

Today i just interacting with ICX blockchain and doing some trade on Balanced pltform and do some stuff on OMM platform.
My experience using the blockchain was smooth, fast, and cheap. It could be one of the candidate for the competition but im not understand enough about the ICX blockchain to be comparing it more.

What things do you get when you use the ICX blockchain and OMM platform? because I've heard but never used it so I feel a little curious about what you say even though you mention things that are good for both.

mulia sabee

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Today i just interacting with ICX blockchain and doing some trade on Balanced pltform and do some stuff on OMM platform.
My experience using the blockchain was smooth, fast, and cheap. It could be one of the candidate for the competition but im not understand enough about the ICX blockchain to be comparing it more.

southerngentuk

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New platforms are showing strong competition with ETH, there are many new platforms appearing and solving the limitations of ETH.
But we have to acknowledge the fact that the ecosystem that ETH created is already too big for a new product to replace it. And we are also seeing new updates on ETH, showing that replacement is completely impossible.

FinneysTrueVision

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There is no individual Ethereum app or use case which I feel I can't do without. The alternatives on other chains are just as good. Maybe they are not as established so people will trust Ethereum apps more based on their reputation. As time goes on I believe we could see people migrating towards the cheapest fee options and that Ethereum's dominance will be greatly reduced.

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A few platforms that I think will compete directly with ETH in all areas of the market like
SOL
BSC
ICP
AVA...
Basically, some platforms are layer2 solutions now that are solving the very good speed and fee problem that ETH is having.
But perhaps ETH 2.0 will soon fix all the problems the ecosystem is having.

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