The 🅶🅰🆂 🅲🆁🅸🆂🅸🆂 that is afflicting the Ethereum network could lead ordinary people to shift their interest to other blockchains that support smart contracts. As we know, the biggest problem with Ethereum is the slowness of transactions and scalability, which also translates into very high fees.
Obviously, ousting Ethereum from its throne will not be easy for two reasons:
1) Network effect (too many users now use Ethereum and in a chain reaction the number increases day by day)
2) Liquidity (you can have high speed and great security but if you have little liquidity you don't go anywhere. If there are no high volumes and nobody is using your network, the concept of smart contract is lost)
We will see what will happen with Ethereum 2.0 and with the transition to Proof Of Stake. The key concept will always be to solve the well-known 𝕋ℝ𝕀𝕃𝔼𝕄𝕄𝔸: Scalability, Decentralization, Security.
Here, however, we ask ourselves: which crypto could replace Ethereum or otherwise take away part of its market capitalization?
Let's see the main ones.
✅THOSE WHO TRY TO IMPROVE TECHNICAL EFFICIENCY
Algorand= Algo claims to have solved the "trilemma" by implementing a Pure Proof Of Stake (there is a secret self-selection of validators by algorithmic randomness). The news of the last few days is the introduction of Smart Contracts
Cardano= Proof Of Stake has been implemented but support for Smart Contracts is still missing
Tezos= Similar to Cardano, here the validating nodes are infinite. If we have tokens we can also delegate someone else
EOS= ICO of Ethereum before the launch of its mainnet (Delegate Proof Of Stake). Here we find a few validator nodes that are voted on and validate the block (transaction). This brings greater efficiency. Supply of 1 billion, the problem is that there is little decentralization
Tron= Conceptually the speech is analogous to that of EOS. The more TRX you own, the greater your "Tron Power" (decision weight) will be. The fees are very low
✅INTEROPERABILITY
COSMOS= Aims to build the internet of blockchains, able to communicate with each other in a decentralized way. The various chains remain independent but can process transactions faster and communicate with each other.
Polkadot= It is the main rival of Cosmos, DOT has several Blockchains linked to each other and uses the principle of sharding (read below)
NEO= Here too we have Proof Of Stake, the big advantage is that it supports very flexible programming languages. The poly network is interesting as regards interoperability
ICON= The idea is to interconnect all other existing blockchains. That is a sorting center for that of Bitcoin, Monero, Ripple, etc
✅SHARDING
Zilliqa= It is a fast, cheap and secure blockchain thanks to sharding (a system that allows linear scalability). What is sharding? Splitting a large database into smaller parts improves speed and therefore scalability. Smaller databases are called "shards". The mainnet was launched in 2019, it allows the execution of smart contracts (Scilla) and moreover it is only necessary 1 minute every 2 hours to mine 1 Zil
Elrond= This blockchain is designed to bring a 1000x cumulative improvement in throughput and execution. To achieve this, Elrond introduces two features: adaptive state fragmentation mechanism and a Proof Of Stake algorithm, which enables linear scalability. Elrond can process up to 10,000 transactions per second (TPS) and with negligible costs
Of course, Polkadot and Cardano also use this system.
✅OTHER NAMES TO OBSERVE
Others to watch as Ethereum's successors are Qtum (it is PoS based and boast decentralized governance protocol allowing specific blockchain setting to be modified by making use of smart contract) and Ontology (support native contract and NEOVM contract).
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