Is Polkadot a real Ethereum killer?
Polkadot will grow

Is Polkadot a real Ethereum killer?

By Cryptofab | Cointune | 8 Dec 2020


If you have already used Ethereum network DeFi protocols, you know how slow and expensive the transactions can be. Therefore, you are probably searching for alternative options. As you may know, Polkadot is building a DeFi alliance with Chainlink as partner:

"As a founding member of the Polkadot DeFi Alliance, Chainlink is excited to help steer the direction of Polkadot's growing ecosystem of decentralized financial applications. By promoting developer best practices for DeFi protocols, the Polkadot ecosystem can become stronger than ever." - Dan Kochis, Global Head of Business Development, Chainlink

How successful could it be? As you know too, Polkadot was created by Gavin Wood, co-founder of Ethereum. Therefore, there are similarities with Ethereum, but Polkadot staking has already worked for a while and you do not need to wait for months or years to get your coins back after staking. Some experts say that Eth2.0 will be better than Polkadot, but that's just an assumption, whereas Polkadot is already working... with low transaction fees.

Now, what are the drawbacks of Polkadot? First of all, it is less well known than Ethereum, and it has many competitors, like Cardano for example. Furthermore, when you try to stake yourself, it is a bit complicated, not as simple as Tezos for instance. However, you can easily get 12% on Kraken, if you have no problem with "not your keys, not your cryptos".

What's next for Polkadot? With this growing alliance, the DeFi protocols will come soon, what will pump the price higher. Furthermore, Polkadot is also working to get more validators and developers and to gather them in this new alliance in order to grow faster. Just imagine how high Polkadot could grow when DeFi protocols become operational... and if staking on the blockhain gets simpler. There is a huge potential behind. You can forget the fight to go back to $6, Polkadot has the potential to go beyond $10. In the meantime, you can just enjoy staking.

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Cryptofab
Cryptofab

I do not want to change the world, but I can contribute to it.


Cointune
Cointune

Crypto, DeFi and passive income.

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