Topic: Which Blockchain, Platform, Ecosystem will be the Most Competitive for Eth 2.0? (Read 415 times)

So there's no hard fork and Eth 1.0 POW will change into Eth 2.0 POS in stages?

The purpose of Eth 2.0 is cheaper fees because current Eth 1.0 gas fees are killing everybody, on that note if Eth 2.0 will have cheap gas fees then why the need to use Polygon for cheap fees when Eth 2.0 already has cheap fees 

Can't tell for sure whenever ETH 2.0 will be more decentralized than Cardano or all the other way around. I'd say they're neck-and-neck when it comes to achieving security and reliability. Cardano is backed by academic research, so there's that. According to the developer team, the Ouroboros PoS consensus aims to achieve scalability and cost-efficiency without sacrificing decentralization. We're going to have to wait until ETH 2.0 is launched in order to test both blockchain networks' level of decentralization.

As far as hard forks are concerned, ETH 2.0 will consist of a multi-tiered launch process. Ethereum will become a hybrid coin first (PoW and PoS) until the network fully transitions into PoS (which is ETH 2.0). Polygon won't become obsolete simply because it's a sidechain with its own network architecture. After all, Polygon relies on the main ETH blockchain for security. The launch of ETH 2.0 is inevitable, so the best thing other projects can do is to adopt the latest trends in the crypto/Blockchain space in order to avoid being left behind in the dust.

Will Eth 2.0 be more decentralized than Cardano?

Will Eth 2.0 be a hard fork where there will be Eth 1.0 and Eth 2.0? If not then will Eth 2.0 still need to rely on Polygon Matic for cheap fees or Polygon becomes obsolete when Eth 2.0 is released?

Yes. ETH 2.0 will make Ethereum less decentralized. But it will still be a far better choice than DPoS platforms like EOS and TRON. ETH 2.0 will even be more decentralized than Binance Chain itself. Polygon (MATIC) is a Layer-Two platform, so it takes all of the security of the main ETH blockchain. It's not a separate blockchain network like Cardano or the ones mentioned before. This will make Polygon as decentralized as Ethereum itself. I wouldn't classify it as a direct competitor of ETH 2.0, simply because it's a sidechain. There isn't any contender that will outmatch ETH's security, reliability, and decentralization/censorship-resistance. As long as this is the case, ETH will remain as the leading smart contract platform on the market. Just my opinion

Okay coming back here to discuss lightning network for Bitcoin? Can lighting network offer smart contracts on bitcoin? If so then why isn't there a lightning network LN Token or Coin that btc users buy to use the lightning facilities?

There's a Polygon Matic Token for Ethereum that Eth users must buy to use Polygon facilities 

Okay how decentralization compares between current Eth 1.0 POW and Eth 2.0 POS? Will Eth 2.0 POS make Eth less decentralized?

For example Bitcoin is decentralized but cannot be scaled on the main btc chain unless it becomes centralized. However the lightning network adds scalability to bitcoin on a like a layer 2 sidechain which is centralized but doesn't risk the decentralization of the main bitcoin blockchain.

Polygon Matic is similar like this to current Eth 1.0 POW right? But you saying Matic is decentralized by itself, how  

You can't have decentralization and scalability at the same time. You'd just to sacrifice one or the other in order to meet the needs of certain people. If you're looking for the most decentralized alternative to ETH, then Polygon (MATIC) is the answer. Fees are dirt cheap and confirmation times are blazing fast. I'm not aware of any other platform that is decentralized and cheap to use as Polygon (MATIC) itself. But it's far from "killing" ETH, simply because it lacks a wide ecosystem of dApps and tokens around it. ETH 2.0 will only solidify Ethereum's position on the market, leaving the rest of the other coins in the dust. There's really no competitor that could outmatch Ethereum's decentralization and censorship-resistance. People will decide which blockchain network to use depending on their needs. As long as decentralization prevails, nothing else matters. Just my opinion

Which ones are not live yet?

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So we have to wait for the next bull market in 4-5 years to find out?

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I don't think that is ever going to happen. The most weird part is, no one cares that the whole chain is somewhat centralized.

Which altcoin blockchain exactly are you talking about? People say that Solana is not actually truly decentralized. At least not now, but will eventually become as more validators join the network. Cardano claims to have achieved 100% decentralization.

Hard to compare if some of them are just starting to attract projects.
Because you can only test the credibility of the chain once they are really doing tons of work.
So right now, even if there are comparison tables that you will encounter, for me, it is not valid.
You can only prove that they can deliver once their network is also congested and if they will not fail.

We should be comparing all these different chains once they are all live and preferably with hundred thousand on chain transactions. Eth 2.0 is privately tested by the Devs and maybe a small group but it's all theory as far as regular users like me is concerned.

You probably cannot find a comprehensive table but I've seen some websites who claims they are the better chain with basic comparisons.

Everybody fed up with high gas fees on Eth 1.0 POW during bull markets hence why Ethereum wants to migrate to Eth 2.0 POS but in bear markets like you said that is the old current Eth 1.0 POW will have cheap gas fees anyway so Eth 2.0 is only good for cheaper gas fees in bull markets?

I'm just want to know the most decentralized blockchains for safety and security.

Can Eth 2.0 kill them all though? Polygon is useful for current Eth 1.0 POW so how can it survive and still be useful for the upcoming Eth 2.0 POS?

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How can gas fees be higher in Eth 2.0 POS 

Yeah I'm surprised of the success current Eth 1.0 POW is having, it goes to show people are willing to pay the high gas fees for nearly a year so if that's the case then why the need for Eth 2.0 POS then?

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Is the gas fee high right now? It is very high. Is the price broke ATH again? It did. That is proof that the power of ETH doesn't come from cheap gas fee, that would be lovely if it happened but the reality is that we are not really doing something that is strictly based on that. ETH 2.0 could come, it could make gas fee higher or lower and ETH would continue to be great.

The success of ETH comes from the projects based on its blockchain, the more projects there are in ETH blockchain the higher its price will be. For a while Axie alone itself didn't allow ETH to fall, and nowadays the NFT world grow to billions of dollars combined, in a situation like that, it is unthinkable to expect ETH to fall in price even with high gas fee.

First of all, ETH will still survive, moreover in the bear market, commonly the gas fee will also decrease lower as in the previous bearish period.
And the competitors will be always like this. they cannot pass the Ethereum platform moreover to kill. The Ethereum platform is too high to pass.
And, for Etheruem itself, many new platforms like Binance Smart Chain, Polkadot, Solana, Polygon, and many other new platforms, will also still survive like usual. And Ethereum also will not kill them all.
It may be about choice, And as long as they can maintain their respective advantages, then they will survive even in bearish times.

Not even by a long shot, no. While solana is a really good and fast layer 1 network ( not sure about the scalability after this: https://www.crowdfundinsider.com/2021/10/181570-what-to-learn-from-solanas-scalability-glitch/

Another important ingredient which I think is very important if we're to achieve our mass adoption goal is usability and high quality user experience and that's an area that Solana has failed horrible. I mean, interacting with Solana dapos is bad enough because you have to constantly leave Sollet or solfare wallets running and get taken to a new tab every time you try a transaction.

Okay is there a site comparing Solana to other blockchains? Like a comparison table.

I'd say Solana. Aside from being No. 4 in world top Market Capitalisation, it has lots of offerings that is very similar to Eth and even much higher. BNB centralisation is a problem and could destroy your investment in no time. Solana in the other hand is one of the fastest blockchain out there having more transaction per second than any other top competitor. Its scalability is quite good too so there's no doubt that soon this gem would surpass BNB and can compete ETH dominance in the market.

Anyone knows a website that compares all these different blockchains in terms of current decentralization?

Another question is does decentralization increases over time for any blockchain depending if it remains popular?

Aside from BNB, Matic, ADA and XSN, currently my focus is on PAYB, the token of Paybswap, as it's still undervalued and holds so much growth potential:
- A DEX using lock and unlock contracts to perform cross-chain trades between BSC and ETH.
- NFT marketplace
- Liquidity farming
- Staking pool

@FairUser

Hello there. You probably don't know who I am. I was trying to contact you but you don't accept PMs from Newbies here sadly.
Can you write a PM to me and unblock my PMs? I'll then explain everything else. Would be much appreciated.

Cheers

Can Binance Smart Chain increase decentralization over time too?

These alt blockchains may seen cheap, fast and great right now but are they are truly decentralized?

Will Ethereum 2.0 POS be decentralized like Eth POW?

Cheap fees, fast transactions can only happen in centralized blockchains correct?

When Eth 2.0 comes out and people leave Solana for Eth 2.0 then how can Solana grow in decentralization then?

I guess it's Solana.

With the reason being that both Binance Smart Chain as well as Solana are way more centralized than Ethereum if I didn't miss anything. As far as I understand Solana increases decentralization over time, but even then it probably is not as decentralized as Ethereum is and will be.

This doesn't mean that BSC and Solana aren't great platforms. In fact they are outstanding projects. Right now BSC is kicking it, there is no question about that and we will see what happens if Ethereum finally manages to scale. That is by far their biggest bottleneck.

If it's about competition, all the platforms OP suggested have that factor. However, the only competitors that I think are able to compete directly can only be Binance Smart Chain and Solana, both of which currently show useful features and solutions that ETH cannot yet have. But personally I still think ETH 2.0 will still lead and be the strongest altcoin in the crypto market.

If Ethereum 2.0 turns out what it claims to be then all those other blockchains on the list will die and go to $0 right? If so surely there must be a competitor to Eth like Pepsi is to Coca Cola or like Apple to Microsoft right?

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How much nodes Terra Luna has?

Lets say for example I create a new smart contract POS blockchain to compete with Ethereum 2.0 and release it tomorrow claiming to be the fastest, cheapest etc. Because my blockchain will be new then that means there's only 1 validator node and that is me correct? So from this example can we say that any newly released crypto blockchain is centralized from the beginning and it will takes years for the blockchain to mature to become more decentralized when the blockchain network grows with more nodes and validators joining it over time as long the blockchain doesn't become dead or unpopular correct?

From that note Bitcoin is centralized from the beginning right?

Lastly any new blockchain is not secure because of less nodes and validators meaning easier to hack right?

Can same be said with POS and POW blockchains?

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Those three were most decentralized smartcontract blockchain but i do believe if the answer might be ADA

- Polkadot has around 900 - 1100 validators

- Solana has 1000 - 1200 validators.

- Cardano has 1400 - 1500 validators

I were removing the rest caused by the marketcap will represent how much demand to run the validator/nodes.

Coming back here

- Polkadot

- Binance Chain

- Binance Smart Chain

- Algorand

- Solana

- Fantom

- Cardano

- Synthetics

- Avalanche

- Terra

- Cosmos

- Polygon

Which ones are the most decentralized that is has lots and lots of nodes on the blockchain? Binance Smart Chain has only 21 Validators/nodes which looks really centralized.

Solana from his development is very good, and while others have a trend that briefly he actually rose 3x more than the previous price. It has a large community, optimal platform performance, DeFi, fast transactions and much more. If you choose like her solana is a great option if competing with ethereum.

A coin that can compete with ethereum?. probably binance, solana, near in my personal opinion. Because you know these coins becomes more interesting since the bear market especially binance wherein despite of the situation and some issues it's still useful nowadays and since the eth gas fees rapidly increasing as well it become so useful when it comes making transactions and etc. .

I have a question about Sidechains & Layer 2 solution for current Ethereum 1.0 PoW? Sidechains like Polygon Matic that helps ease the congestion off the Ethereum main chain resulting in cheaper fees.

The question is when Ethereum 2.0 PoS comes out early next year then will these Sidechains and Layer 2 Solutions will die off and become obsolete because they are not needed anymore because fees on Ethereum 2.0 PoS will be already cheap 

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In general, the fees on the Ethereum network are very affordable, although they are still more expensive than the fees on the Binance and Polygon networks, but in terms of the price of Ethereum which is already very expensive as it is today, the amount of transaction fees that must be incurred by people who make transactions is also affordable and not so expensive, I think so.

I think that everybody chooses something according to his tastes and needs. For example, small investors are likely to choose Binance Smart Chain with cheap transactions. Those who are crazy about NFTs are likely to choose Polygon as it is one of the leading platforms in this sphere now. Ethereum is for whales now, but I hope that with the launch of Ethereum 2.0. will become more affordable.

For example when it comes to video games consoles you got the playstations, xboxes and nintendos.

EVM means Ethereum virtual machine? So when you say NEAR is Ethereum compatible then does that mean for example lets a xbox disc game will work on a playstation? If that's the case then what's the point of buying all these game consoles when 1 console can play all those games?

For example Why should Microsoft make its exclusive 1st party games be compatible and run on its competitor console the Sony PlayStation? Wont this give Ethereum 2.0 a monopoly where no other blockchain has a chance of competing against it because these other blockchains giving users/investors incentive to stay on Ether?

Or is this the nature of decentralized open source cryptos where competition doesn't matter because its already out there in public open source  Like for example mcdonalds wont reveal its secret ingredients because its not open source but it has competitors like burger king, kfc, pizza hut and more. If that's the case then Cryptos will end up like the linux operating systems of the world where only 1% uses them and everyone else is using windows or mac os that are trying to capitalise the market.

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What's up with the Solana blockchain where everybody saying the chain got hacked or crashed where the solana team had to reboot/reset its network chain that caused it to go offline for several hours.

How is someone is able to reboot a decentralized network chain 

Its like somebody can cause bitcoin to go offline for several hours wth.

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You missed NEAR protocol and it's EVM compatible contract Aurora. Aurora scales Ethereum so they competitors because unlike sidechains like Polygon, Aurora uses Ethereum natively to pay gas fees. NEAR has it's own AMM with farming, Ref Finance, and Sushiswap will deploy on Aurora.

Polygon (MATIC) looks promising... And there are some other projects like Minter, TON Network. EOS also... If this project survives  
And Tron of course - I believe in this project.

Icon Foundation with ICX as its coin. Theres 2 DeFi that really useful at the platform recently, its Balanced and OMM.Finance, both are really useful for DeFi purpose, i imagine if theres will be more projects come to ICX platform, it will accumulate more marketcap and also increase the value of ICX itself. Also, its have Governance system which able you to vote on the blockhain.

Crypto experts say PoW is more secure than PoS so how Eth 2.0 which is PoS a winner for security?

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But isn't the Binance exchange getting a lot of shady reports from the press, regulators, governments recently? If these entities manage to bring down Binance, for example within couple months back UK has banned Binance, then will this result in BSC failing and collapsing?

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When you say compatible with source code with Eth do you mean it helps the current Eth 1.0 PoW like a sidechain assisting Eth 1.0?

But when Eth 2.0 PoS comes out then will these blockchains still be needed as assistance to Eth 2.0?

Or do you mean Eth 1.0 ERC20 projects will also work on Polygon and BSc for their cheaper fees?



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BSC was once touted the Ethereum Killer, and for sometime they have manage to get some projects to mover from ETH-BSC because of ETH's high fees. Not sure though what is the current picture since ETH just has another hard fork. But base on the price, ETH is still getting stronger, so most likely these so called killer can't really take out ETH. But it's good that we have such competitions for projects to chose which platform they want to use.

IMO, I choosing (BSC & Polygon)-chain.

This chain is the most using chain on the ecosystem who compatible with source code of "ETH", I'm using BSC for alternative transaction & trading and polygon chain for activity of NFTs.

I see BSC as the closest "competitor" to Ethereum once they transitioned to POS while Polkadot, Cardano and Solana not too far behind BSC. I have no idea if the other chains on the list have huge followings to even compete.

Isn't that the native chain? Tokens built there are called BEP-2. They have no smart contract capability and so comes BSC.

In my opinion, there is nothing like eth-killer. BSC, Dot, Solana, etc are rising for the trend this time. But they can't be Eth killer. Possibly, they will sustain beside Eth. Maybe you heard today, Solana was down. So, nothing can be compared to Eth


Eth 2 may kill them.


I guess it's Solana. It's fast, cheap. But for security, Ethereum must be the winner.

In lets say the next Bear Market within a year or two.


- Polkadot

- Binance Chain

- Binance Smart Chain

- Algorand

- Solana

- Fantom

- Cardano

- Synthetics

- Avalanche

- Terra

- Cosmos

- Polygon

Any other Popular ones that I missed out on?


What's up with Binance Chain & Binance Smart Chain  

Or will Eth 2.0 kill all above in the list? But then again Eth 2.0 is like Coca Cola Brand in the Crypto market so there's always a Pepsi like Brand competitor to Eth 2.0 right and if so which Blockchain do you think it will be?


Which blockchain is the Fastest, Cheapest, Most Secure  ? Usually this determines the winner right? Forgot to include most decentralized too, this factor is the most important over speed and fees for safety and security