With all due respect to Ethereum, I am not a strong believer of something that is slow yet so costly. There are varying opinions in the crypto community and the major portion believes that Ethereum won't flip Bitcoin. But would there be, by any chance, is one of either Polkadot or Cardano flip Ethereum from number two chair? Or will it be Solana that gives a killing blow?
So, there are already a few blockchains that are interpreted as 'Ethereum Killer', and rightly so but who's gonna be the next queen of crypto can't be answered exactly. There are contenders like Cardano, Solana, Cosmos Hub and the topic for this article Polkadot itself.
While all boast of their ability to be as agile as Ethereum but it takes time to dethrone such a powerful phenomenon as Ethereum is. Also we must not forget that Ethereum has recently upgraded to Ethereum 2.0 which kind of solve the problem of scalability or higher fees. In this article we are going to get answers why Polkadot can be the next Ethereum and Why DOT is gonna explode 10X or 50X or 100X. Let's explore:
Key Differences between Ethereum 2.0 and Polkadot:
First of all let's make it clear that we are going to compare Polkadot with Ethereum 2.0. Now after upgrading to 2.0, Ethereum is now making it a point as with the upgrade it may be able to solve its problems. But how true are the claims of Ethereum, we need to wait a little more as the upgrade will take place in phases.
As for Polkadot it has proven its worthiness and use cases ever since it has come to the horizen. Polkadot is still more reliable and unique when it comes to deploying smart contracts on it. Let's see.
- Ethereum 2.0 runs on the Beacon chain where it has multiple shards the same as Polkadot has a Relay Chain that consists of multiple Parachains.
- While the shards on Ethereum 2.0 are connected to single interface called 'ewasm', the Parachains of Polkadot are free and they have their own blockchains and interface.
- Both Polkadot and Ethereum 2.0 use the Proof of Stake consensus. While Ethereum 2.0 uses to validate multiple batches in one round, Polkadot applies random validators apart from regular ones to carry a double check for providing more guarantee to transaction.
- Ethereum 2.0 still runs on Solidity whereas with Polkadot we have multiple options to choose from. We can even use javascript or rust.
Overall Polkadot seems to be more inclined towards web 3.0 and Ethereum 2.0 has put its firm legs with the smart contracts and blockchain development.
Both might have their pros and cons but Polkadot is a serious contender to Ethereum's popularity. No other blockchain looks as similar and as close to Ethereum's as Polkadot.
Polkadot: Why I think should be 10x to 100x next Bull Run?
Often called the 'blockchain of blockchains' Polkadot has a great potential as seen in the last bull run when its price skyrocketed to $55.6. As the current price roughly stands at $5.3, even if Polkadot touches its all time high, it's in the 10X zone.
Then the supply of this coin is roughly 1.2 billion which is just 10 times more than that of Ethereum. Even if polkadot gains the 1/10 of popularity like Ethereum the prices for 1 DOT shall be around $100. This makes it 20x.
Third reason is its market cap which I think is way undervalued. The market cap for Polkadot is 6.52B and it shall definitely be 10x by 2025 and the coin shall be around $100 by then.
These are my top reasons to choose polkadot for a 5% share of my portfolio.
- 2023 price Prediction $3.5 to $15
- 2024 price Prediction $12.5 to $60
- 2025 price Prediction $35 to $150
- 2026 price Prediction $55 to $400
Overall I think Polkadot has all the potential to grow and may be the coin that can seriously contend with Ethereum.
As Always Thanks For Reading.
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Disclaimer: Nothing in this post should be regarded as investment advice. These are solely my personal views. Readers are advised to do their own research before making a financial investment.
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