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Currently, Avalanche is sitting pretty, at an all-time high of $107 per coin.įollowing a recent partnership with consulting giant Deloitte and the success if its generous incentive program, Avalanche remains one of the few cryptos immune to the industry-wide pullback that has even Bitcoin (CCC: BTC-USD) down on the day.Īfter a rather ugly day for crypto, the gains for AVAX are intriguing. Amid lofty Avalanche price predictions, the layer-one blockchain is up more than 85% this month, and over 200% since September. The AVAX crypto is up 13% on the day, to top off an absolutely blistering month. InvestorPlace - Stock Market News, Stock Advice & Trading TipsĪvalanche (CCC: AVAX-USD), the “fastest smart contracts platform in the blockchain industry,” is reaching for the snowy mountain top - and beyond. “However, while Ethereum’s dominance is clear in the DeFi industry, there’s room for other cryptoassets to coexist and contribute to the future of Web 3.0 together.” “With Ethereum 2.0 on the horizon and its growing market cap, this may be unlikely,” he said. “Certainly, there is even chatter that some of the Ethereum killers might someday overtake Ethereum in both utility and popularity, despite it being the first-mover,” Brown said.īut he’s not expecting the number 2 token to get bumped off its throne anytime soon.
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Should crypto investors pay attention to this fast-changing trend? Solana only launched in 2020 and is already the fifth biggest cryptoasset by market capitalisation. They are all also building momentum quite quickly. Polkadot is up 217% year-to-date.Įach of these cryptoassets tinker in the smart contracts space, each offering innovative advantages that Ethereum is currently lacking. It’s gained 616% this calendar year.Īnd Polkadot currently ranks as the number 9 crypto.
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And it’s gained a whopping 8,864% in 2021, according to data from CoinMarketCap.Ĭardano is the number 6 crypto by market cap. Solana is the number 5 crypto by market valuation. Some of the contenders for the title of ‘The Ethereum Killers’ are considered to be Cardano (CRYPTO: ADA), Solana (CRYPTO: SOL) and Polkadot (CRYPTO: DOT). While Ethereum 2.0 is being rolled out and being transitioned to Proof-of-Stake (PoS), the competition to take the DeFi crown is heating up by what some are labelling as the Ethereum killers. So, what’s all this about Ethereum killers? It’s currently estimated to consume 54.57 TWh per year. The current PoW model requires a significant amount of computational power, which means the energy required to maintain the network is extremely high. To be fair to the founder Vitalik Buterin and his team, they could not have anticipated the significant demand the platform has garnered since Ethereum launched back in 2015.īrown pointed to the outdated working model and volatile fees as some of the problems Ethereum is working to overcome:Įthereum’s Proof-of-Work (PoW) consensus model has become outdated, as it can only handle around 13 transactions per second, leading to a congested network and highly volatile gas fees. What are Ethereum killers…and why investors should pay attentionĪddressing the issues that are currently hindering Ethereum’s growth, Brown told us:Įthereum’s scalability is one of the biggest hurdles that is currently limiting the success of its network and the countless dApps (decentralised applications) that run on the network. Ethereum (CRYPTO: ETH) has had a great run in 2021.Īlthough it’s down some 22% from its 10 November all-time high of US$4,865, the world’s number 2 token is up by 427% year-to-date.Īt the current price of US$3,857, it has a market cap of some US$460 billion.īut faced with what crypto analysts are calling ‘Ethereum killers”, can it hold onto its mantle in 2022 and beyond?įor the answer to that question, the Motley Fool turned to Ray Brown, market analyst at crypto exchange CoinSpot.