Fiat currencies derive their value from the reputation and credibility of the issuing country. Governments have the power to increase and decrease the money supply to achieve their economic and political goals. For national governments, control of money is the source of power. Because the cryptocurrency asset class operates independently of government control, it poses a threat to power.
While blockchain technology has been almost universally accepted, the adoption of cryptocurrency tokens is another story. The fastest and most efficient protocols are attracting serious attention. Ethereum (ETH) was a leader, but Cardano (ADA), Solana (SOL), Tezos (XTZ), Terra Luna (LUNA), Polkadot (DOT), Avalanche (AVAX) were also closely following Ethereum as established competitors. Some market participants were calling these names "Ethereum killers".
The events we have experienced in the last 6 months have begun to change this perception.
Blockdaemon's Ethereum leader, Freddy Zwanzger
No Ethereum killers in the past have been successful, and I don't expect they will either.
Blockdaemon is an enterprise-grade blockchain infrastructure platform that provides node operations and infrastructure tools for blockchain projects.
Crypto projects touted as Ethereum killers include Solana, Cardano, Terra Luna, Tezos, Polkadot, Avalanche. Many of these blockchains promise lower fees and faster transactions, but have fewer active developers and some blockchains place less emphasis on decentralization. To date, none has succeeded in placing Ethereum at number two in terms of market cap.
Finally, the interruptions, stops, and congestions in the SOLANA blockchain; Attacks on Solana-based hot wallets such as Phantom and Slope have begun to push users and projects to seek alternatives. There are some very cool projects working on it. STAR ATLAS (ATLAS), CropperFinance (CRP), …
frustration
Source Defi Liama
The UST disaster of Terra LUNA (Now LUNC) has victimized millions of investors. Dropped $0.0008 from $80 in a few days. The small investor went bankrupt without realizing it. Terre LUNA, which set out to be the center of DeFi projects, is in the middle... A complete fiasco...
LUNC at $100 levels until a few months ago
Source Defi Liama
Source Defi Liama 65% of total TVL
My Last Words; It's too early to judge for Cardano, , Tezos, Polkadot, Avalanche ... Transaction traffic will see their strength as the number of projects on them increases. Charles Hoskinson, founder of Cardano, co-founder of Ethereum … Dr. Polkadot, co-founder. Gavin Wood is a former co-founder of Ethereum … We could multiply this list … I think the term “Ethereum killers” is just a hollow advertising argument. As long as blockchain technologies exist, Bitcoin and Ethereum will exist.
Bitcoin is the King, Ethereum is the Leader … DOT
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