Who is Ethereum's biggest competitor? - page 2.

Wolf_of_Wallstreet

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I personally think that there are a lot of competitors trying to compete with ETH. Grin

One of my favorites used to be ADA with it's scientific approach. With it's peer review procedure they want to create a scalable, efficient and secure platform for dApps and smart contracts.
It has a quite similar idea as ETH, although Cardano was limited to about 1000 TPS, while SOL is way faster, not just the speed of transactions but also the block building.
As SOL is still in the early ages of development it has outdated ADA with a few things.
I think ADA still has great capabilities to catch up as it's development ist still not finished.
IMHO SOL and ADA are the most optimistic candidates to compete against ETH.

Sophokles

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It seems solana for now but we need to first understand what makes a project competitor of ETH network. ETH network is considered one of the most decentralized and secure networks after bitcoin and that is why all the existing project want to use its decentralization and security to store their data. But as ETH network grows, its gas fees and finality time become slower, and some of the other layer 1 like solana have come up with a new solution that makes them fast and cheap, but they are not as decentralized and secure as ETH yet. Another concept came to solve this problem as well and that is DA layer which uses ETH networks for decentralization and security but uses another layer for storing data. So this new type of project eliminates all the possibilities of growing bigger than ETH for its competitor layer 1 project.

el kaka22

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There isn't really a "competitor" to ETH, all coins coexist peacefully and they are not competing with each other. If we are strictly talking about the second spot, then I would say that it is not that easy, you can't make a decision that easily and say that this one is great and this one is not, you can't just know the future neither. Imagine having the knowledge of which coin will take the second spot in the future, wouldn't we invest everything we have towards that? Hell I would sell my car and buy that coin.

However, there is no reason to believe that could happen, you just make predictions and assume for the best. But good news is that, you could invest into something that's not that great neither, it's fine and not a problem.

jrrsparkles

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Quote from: oktana on March 27, 2024, 07:42:35 PM

Quote from: jrrsparkles on March 27, 2024, 12:05:25 PM

Quote from: Vincentdeshong on March 27, 2024, 11:23:46 AM

Ethereum's alternatives and competitors. See how Ethereum compares to similar products. Ethereum's top competitors include Solv Protocol, Radix, and Avalanche. Solv Protocol operates as a one-stop platform and a decentralized liquidity infrastructure for creating and trading nonfungible tokens (NFTs).

In my opinion, BNB is the biggest competitor for ethereum in all the aspects and for far in the recent years BNB is gaining momentum while ethereum is somewhat stagnant on its growth due to external factors like switching from PoW to PoS and even after switching the gas fee for token transaction is still on the expensive side which force the token projects to look for alternatives and that's where BNB stands as first choice.

Of course it is BNB. Firstly, both BNB and Ethereum support smart contracts, and when Ethereum started seeming impossible with its fees, it was BNB that took over. Also, transaction speed and cost is another reason why BNB is Ethereum’s biggest competitor. Lastly, Binance has gained huge attention in the past years. It has grown so much and this equally has increased the strength of the BNB token.

BNB started as a token just few years back and now it's leading in the marketcap value as well as in use case it's actually better than ethereum so it's not brainer that why BNB go on to reach such high while the ethereum is still lagging and trying to resolve it's scalability issues.

AVE5

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Quote from: btc78 on March 27, 2024, 12:16:51 PM

Well we can not deny that Bitcoin is probably the only one that is the competitor of Ethereum. Even though Ethereum is the top among altcoins it can never surpass what Bitcoin is and what has achieved but among altcoins I will say Solana might have a good chance of competing with Ethereum but only for a phase maybe. I really don't see Ethereum rising any more any time.

I don't think if bitcoin was among the comparing crypto Coins he meant to be competing with the ETH but other AltCoins. It's totally agreed, obvious and proven that no cryptocoins has ever in history to compete with the bitcoin instead the AltCoins derives their potentials based on the potentialities of bitcoinse.

Over to the Op, after ETH amongst the AltCoins a potnetial competitor of it is the BnB. They're basically of the same significant native coins of the AltCoins blockchain which although ETH has more forces of evaluations to leading in the ecosystem based on its diplomatic purposes and significant services.

Sayeds56

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Quote from: Bureau on March 28, 2024, 03:16:01 AM

BSC is a copy-paste of the Ethereum blockchain and yes it is a big competitor of it. BNB is required to use the Binance smart chain which is why there is a demand for BNB. Another competitor that has emerged recently in the market is the Solana blockchain. A lot of meme coins are now part of the Solana ecosystem which is the reason why everyone is now interested in it. Another benefit of Solana is its cheap fee like Binance smart chain has which is why these two are good competitors of Ethereum now.

You are absolutely right, Binance Smart Chain (BSC) is replica of Ethereum, and it is very fascinating to see how block chains space is evolving with strong contenders like BSC and Solana are emerging as strong competitors of Ethereum. Ethereum's tooling and infrastructure has indeed contributed to its popularity, but its higher transaction fee still remains an issue despite numerous updates. While, BNB and Solana offer cheaper transaction fees making them attractive options for various projects and users. It will be interesting to observe the development and competition among these platforms within the broader block chain space.

D ltr

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I'm not even 100% sure it will happen if Solv can become a competitor to ETH before competing with ETH, it should surpass SOL first before it can say it will become a competitor to ETH, now there are many new coins that say they will replace the position of the top coin after BTC, I don't know what wind could make them say that with the age of a project that has just grown like a sprout

Makus

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In my own opinion, for now Ethereum being the kind of altcoins doesn't have any competitor on ground. Though BNB and Solana are looking forward to getting close to Ethereum but they are still way too far from Ethereum. The market cap of Ethereum is more than 4x of the market of either BNB or Solana. Therefore I'll say there is no competition there, the only competition we have is between BNB and Solana who will take the position of the 3rd best altcoin based on market cap as USDT is the second in the top listed altcoins.

Bureau

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Quote from: oktana on March 27, 2024, 07:42:35 PM

Of course it is BNB. Firstly, both BNB and Ethereum support smart contracts, and when Ethereum started seeming impossible with its fees, it was BNB that took over. Also, transaction speed and cost is another reason why BNB is Ethereum’s biggest competitor. Lastly, Binance has gained huge attention in the past years. It has grown so much and this equally has increased the strength of the BNB token.

BSC is a copy-paste of the Ethereum blockchain and yes it is a big competitor of it. BNB is required to use the Binance smart chain which is why there is a demand for BNB. Another competitor that has emerged recently in the market is the Solana blockchain. A lot of meme coins are now part of the Solana ecosystem which is the reason why everyone is now interested in it. Another benefit of Solana is its cheap fee like Binance smart chain has which is why these two are good competitors of Ethereum now.

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Quote from: jrrsparkles on March 27, 2024, 12:05:25 PM

Quote from: Vincentdeshong on March 27, 2024, 11:23:46 AM

Ethereum's alternatives and competitors. See how Ethereum compares to similar products. Ethereum's top competitors include Solv Protocol, Radix, and Avalanche. Solv Protocol operates as a one-stop platform and a decentralized liquidity infrastructure for creating and trading nonfungible tokens (NFTs).

In my opinion, BNB is the biggest competitor for ethereum in all the aspects and for far in the recent years BNB is gaining momentum while ethereum is somewhat stagnant on its growth due to external factors like switching from PoW to PoS and even after switching the gas fee for token transaction is still on the expensive side which force the token projects to look for alternatives and that's where BNB stands as first choice.

Of course it is BNB. Firstly, both BNB and Ethereum support smart contracts, and when Ethereum started seeming impossible with its fees, it was BNB that took over. Also, transaction speed and cost is another reason why BNB is Ethereum’s biggest competitor. Lastly, Binance has gained huge attention in the past years. It has grown so much and this equally has increased the strength of the BNB token.

ololajulo

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Quote from: Vincentdeshong on March 27, 2024, 11:23:46 AM

Ethereum's alternatives and competitors. See how Ethereum compares to similar products. Ethereum's top competitors include Solv Protocol, Radix, and Avalanche. Solv Protocol operates as a one-stop platform and a decentralized liquidity infrastructure for creating and trading nonfungible tokens (NFTs).

Radix is not in the race at all, far behind at -88% from all time high while other are around -30% and below . This could be an indicator for competition if it is far behind and we can see nothing soon, I will rule radix out

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Quote from: Vincentdeshong on March 27, 2024, 11:23:46 AM

Ethereum's alternatives and competitors. See how Ethereum compares to similar products. Ethereum's top competitors include Solv Protocol, Radix, and Avalanche. Solv Protocol operates as a one-stop platform and a decentralized liquidity infrastructure for creating and trading nonfungible tokens (NFTs).

Well, if this is your attempt to shill Solv protocol (not sure of your affiliation to the project), but its a really poor effort. Add that to your clickbait title, even worse. To put this into perspective for others that will be reading this thread afterwards, Ethereum is a blockchain protocol while Solv is on only a marketplace. There are dozens of marketplace on ethereum. Even Solana, AVAX and even BNB have marketplaces built on them so what gives? Albeit a really poor shill by OP, I do think that Solana might be the closest to Ethereum yet. The total value of assets staked on solana is almost close to the value of ethereum and that underlines the economic security of any chain which is why everyone loves ethereum because it has really strong security (that's why Layer 2s settle on ethereum).

Nwada001

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Quote from: Vincentdeshong on March 27, 2024, 11:23:46 AM

Ethereum's alternatives and competitors. See how Ethereum compares to similar products. Ethereum's top competitors include Solv Protocol, Radix, and Avalanche. Solv Protocol operates as a one-stop platform and a decentralized liquidity infrastructure for creating and trading nonfungible tokens (NFTs).

This is the first time I'm coming across the name Solv Protocol. They seem pretty new to even be noticed. I searched for the name, and they are not even yet listed. I mean, the native token, as it's also listed as an untracked token on the coinmarket cap.

How did you come up with this name and leave? The popular network that we have is something I don't understand, which has led me to start thinking that what you are after might be to promote Solv Protocol, indirectly trying to tell us it's the next rival to Eth.

tyz

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Quote from: Vincentdeshong on March 27, 2024, 11:23:46 AM

Ethereum's alternatives and competitors. See how Ethereum compares to similar products. Ethereum's top competitors include Solv Protocol, Radix, and Avalanche. Solv Protocol operates as a one-stop platform and a decentralized liquidity infrastructure for creating and trading nonfungible tokens (NFTs).

The biggest competitors are other smart contract blockchain platforms such as Cardano and Solana. These platforms offer similar functionalities to Ethereum, such as the ability to create and execute smart contracts, but may have different features and advantages such as faster transaction speeds or lower fees. However, it's worth noting that the blockchain industry is still relatively new and rapidly evolving and there is room for multiple platforms to coexist and thrive.

arjunmujay

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Quote from: Vincentdeshong on March 27, 2024, 11:23:46 AM

Ethereum's alternatives and competitors. See how Ethereum compares to similar products. Ethereum's top competitors include Solv Protocol, Radix, and Avalanche. Solv Protocol operates as a one-stop platform and a decentralized liquidity infrastructure for creating and trading nonfungible tokens (NFTs).

Are you actually asking about ETH's competitors or do you just want to introduce SOLV itself? Are you part of the marketing of this coin or are you an early investor in it?

We all know here, nothing can match the performance of Ethereum. There are many who claim to be tough competitors of ETH but none of them can compete even now.

ajiz138

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Quote from: jrrsparkles on March 27, 2024, 12:05:25 PM

Quote from: Vincentdeshong on March 27, 2024, 11:23:46 AM

Ethereum's alternatives and competitors. See how Ethereum compares to similar products. Ethereum's top competitors include Solv Protocol, Radix, and Avalanche. Solv Protocol operates as a one-stop platform and a decentralized liquidity infrastructure for creating and trading nonfungible tokens (NFTs).

In my opinion, BNB is the biggest competitor for ethereum in all the aspects and for far in the recent years BNB is gaining momentum while ethereum is somewhat stagnant on its growth due to external factors like switching from PoW to PoS and even after switching the gas fee for token transaction is still on the expensive side which force the token projects to look for alternatives and that's where BNB stands as first choice.

Maybe what the OP means is not about market capitalization but a large ecosystem so really now Ethereum is bigger than other similar altcoins.
Look at NFT trading is on the highest Ethereum network, I'm not so sure about other altcoins then there is nothing similar to Ethereum right now unless they are a lot of clones or even on the Ethereum network.
Now a lot of the L2 is processing from ETH network to L2 to be bridged.

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Quote from: Vincentdeshong on March 27, 2024, 11:23:46 AM

Ethereum's alternatives and competitors. See how Ethereum compares to similar products. Ethereum's top competitors include Solv Protocol, Radix, and Avalanche. Solv Protocol operates as a one-stop platform and a decentralized liquidity infrastructure for creating and trading nonfungible tokens (NFTs).

Aside from Bitcoin, I think the biggest threat right now is SOL because it growing so fast and it’s actually the opposite of ETH network where you use it faster at a cheaper fee. If ETH will continue to experience the same problem while the other network is having their own growth and improvements, time will come that ETH will be replaced by other altcoins and ETH might not find its way going back if ever.

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Quote from: Vincentdeshong on March 27, 2024, 11:23:46 AM

Ethereum's alternatives and competitors. See how Ethereum compares to similar products. Ethereum's top competitors include Solv Protocol, Radix, and Avalanche. Solv Protocol operates as a one-stop platform and a decentralized liquidity infrastructure for creating and trading nonfungible tokens (NFTs).

I think you are just here to hype project that does not even meet up with meme coins. What is Solv? And why do you think it could be a competitor? When u fist read your post, I thought you meant SOL but frankly, this is a different project from my perspective.
At least, you should tell us more about Solv and what investors tend to benefit even though you are excited about the project.
Maybe it could be a good one but please update us with more information so we can check it.

Odusko

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When Bitcoin Blockchain could not house other chains, we hard Ethereum that became the basis to the development f other coins as the first Blockchain layer that allows for other chains within it network and this have given the industry a significant breakthrough in terms of scability and other factors that made the cryptocurrency industry adoptable.
To this point, there is no other project that can act as a competitors to Ethereum since their all still slid down into Ethereum network as their bases for operations.

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Will always be Bitcoin if by community size and popularity. However, there are other altcoins which are having good market performance lately which is SOLANA. Feel free to check projects running in this chain and decide for yurself whether it is a good coin to invest at this point wherein pump in crypto market prices are obvious. Many altcoins are promising and that uncludes BNB and othersor memetokens are now gaining popularity from the market which is for sure a good factor to consider charging on other units or coins. Ethereum has long existed to be one of the biggest names in this industry. You may think of things or idea that such ocassion will be located by within the result.

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