Ethereum has project capable adversaries in the form of the original smart contract blockchains in the crypto world, which are the projects created to improve Ethereum’s technology in terms of scale and time.
The Ethereum network is scheduling planned upgrades in 2022, and some say the new version, Ethereum 2.0, will offer improved processing times, lower fees and more scalability.
Cardano (ADA)
Currently the seventh-largest crypto token is a contender for a more environmentally sustainable alternative to Ethereum. It is keenly watched by crypto enthusiasts. But its performance has been muted since the first decentralized cryptocurrency exchange on the blockchain, SundaeSwap, went live.
SOLANA (SOL)
Currently the eighth-largest crypto asset has a market cap of over $30 billion. Solana uses ‘proof-of-history’ to validate transactions, opposed to Ethereum’s proof-of-work consensus model. Solana transacts at lightning speeds, and fees equate to a fraction of a cent per transaction. Institutions like JP Morgan and Bank of America have also praised the token.
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POLKADOT(DOT)
The Polkadot platform and native token are currently ebbing the top-12 spot with a market cap of a little shy of $19 billion.
Polkadot is known for its special feature named ‘interoperability’ which connects several blockchains into a single network, enabling them to exchange data without compromising their security. Interoperability is essential for the future of Web 3.
TEZOS(XTZ)
The token is currently among the top-40 tokens, with a market cap of close to $3.7 billion. The smart contract-capable blockchain is used to issue new digital assets and create decentralized applications (dapps). Several notable projects have launched on Tezos, including those in the fashion, music, gaming and art industries.
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