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Ever since the news broke out regarding the launch of the most anticipated Ethereum 2.0, potential ‘Ethereum killer cryptos’ might also be trying to be in the game
The long-awaited Ethereum 2.0 is said to be at the door, almost, which could bring enormous advantages and put the Ethereum (ETH) network way ahead than its competitors. However, These expectations from the network are due to its specifications on paper that tell that its speed to go upto 100K transactions per second, the network would be scalable that could make upto 64 chains act parallel using the sharding mechanism, using energy-saving consensus mechanism of proof-of-stakes, and a lot more.
Given all these features that Ethereum 2.0 will bring in the future, experts have different opinions regarding the potential Ethereum (ETH) killer blockchain network. Ethereum (ETH) was undoubtedly the first-ever smart contract blockchain but after its creation, there are a number of smart contract blockchains in the crypto space. Not just that, the reason those blockchains are called to be Ethereum killers is because of their features and specializations that are far better than Ethereum networks’ that started facing issues like congestion due to the inability to scale the network, high transaction fees, slow transaction speed, etc.
Smart Contract blockchain that came after Ethereum (ETH) network took note of these issues and tried to build their network free from such issues. Blockchain networks after Ethereum (ETH) are known to possess at least one specialization that makes it be called a potential Ethereum killer, be it in terms of speed, scalability, transaction fees, etc. Blockchains like Avalanche (AVAX), Solana (SOL), Cardano (ADA), and Binance Smart Chain (BNB), etc are said to be the ones, let’s check why it is so.
Avalanche (AVAX) network by far solves the issue of transaction speed that could reach upto 4000 to 5000 tps of transactions per second. Block’s time to finality in Avalanche (AVAX) blockchain network is blazingly fast, low cost, and low energy consuming network.
While Solana (SOL) has also the upper hand in the space due to its insane speed of finalizing 65,000 transactions per second, which it says could go upto an ultra-high-speed of 710,000 tsp. But for now, let’s hold your horses and talk in reality, Solana (SOL) networks generally act at 1,800 transactions per second which is also quite high speed. The consensus mechanism used by the Solana (SOL) network, and proof-of-history also make it unique.
Talking about yet another potential Ethereum (ETH) killer, Cardano (ADA) has its own place in the discussion. Cardano (ADA) network has been the talk of the town since its launch due to its specifications being better than Ethereum (ETH) in terms of speed, scalability, and gas fees. After its Alonzo hard fork in September 2021, Cardano (ADA) became a full-fledged smart contract network giving it the much-needed edge over other networks.
Another contender in the list of Ethereum killers is none other than Binance Smart Chain (BNB), the popular blockchain network created by leading cryptocurrency exchange Binance. Since it was created by a company with huge capital, the blockchain consists of all the crucial factors needed on a blockchain network. Although decentralization is the only issue with the blockchain where there were about 21 validators appointed to reach consensus and validate a transaction which is also not a that big concern given its potential and usability.
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With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
