Ethereum is an open-source software platform for blockchain applications. Its native token ETH is only second to bitcoin, based on market cap, and has been a game-changer in smart chain technology. While bitcoin's network is like a big, powerful, tamper-proof ledger, that records transactions, but Ethereum went a little further ahead. Launched in 2015, Ethereum has the first-mover advantage over all other altcoins and smart chain platforms, since it is recognized as the world's most popular decentralized marketplace for financial apps, services, and games. But the crypto has evolved exponentially over the years, and the so-called 'Ethereum killers' have made their way into investor portfolios and are rapidly gaining popularity in the market. In this article, we have listed 10 Ethereum killers that investors can consider buying in 2022.
Cardano was launched by one of Ethereum's co-founders, Charles Hoskinson. It has taken a research-intensive approach to the development, meaning each stage is peer-reviewed and thoroughly tested before implementation. Cardano is now also launching its smart contract capabilities. This third-generation crypto is more scalable and sustainable.
Another crypto that is touted as an Ethereum killer is Polkadot. DOT aims to solve some of Ethereum's scalability and cost issues. But Polkadot shines better in its interoperability aspects as it enables blockchains to communicate effectively. This approach also makes it easier for developers to switch to Polkadot's system. Investors investing in DOT are basically trading on the technology and not necessarily on the currency.
Tezos is a user-focused, open-source project, that allows users to weigh in on project governance and the direction of the blockchain for a buy-in price of 8,000 tokens. In addition to this, XTZ provides impressive security, modularity, and the ability to be upscaled. Keeping the future in mind, the investors of XTZ can shape the trajectory of the project.
Currently, Solana is one of the fastest-growing cryptos in the market. The crypto has claimed that it can process around 50,000 transactions per second (TPS), whereas, Ethereum currently processes 15-45 TPS. SOL has over 400 projects running on its ecosystem, including stablecoins like Circle's USD Coin. It also runs wallets, decentralized exchanges, and other decentralized finance projects.
Avalanche's magic stems from a new type of technology called directed acyclic graphs. The crypto has announced that it is one step closer to launching a product that will allow developers, who have built decentralized apps on Ethereum to switch alliances. It claims to be much faster, cheaper, and more capable than Ethereum.
One of the popular but simultaneously lesser-appreciated cryptocurrencies is Zcash. It is built from the ground up as a next-generation alternative to financial transactions. The aspect that makes ZEC particularly appealing is that it is singularly focused to be the best form of digital currencies. Most significantly, Zcash keeps transactions confidential and also selective disclosure feature.
Binance is the best-known cryptocurrency exchange in the modern crypto exchange landscape. But what really makes BNB more interesting is the Binance smart chain. Like Ethereum, it has a programmable blockchain and project developers can connect with potential investors through the Binance trading platform. But it should also be noted that Binance is criticized for its more centralized system.
NEAR is an open-source project focused on smart contracts and the proof-of-stake system. A big selling point for NEAR is its lower transaction fees. It claims that NEAR's transaction fees are 10 times lower than Ethereum's. Its focus on development, community, and creation of applications, are some of NEAR's unique features. NEAR's rainbow bridge technology allows holders of Ethereum to operate on both blockchain systems.
Stellar is yet another open-source project, which provides its user base with the ability to create, send, and trade all forms of money in digital format. It is an ambitious project, making the claim that all of the world's financial institutions can run on the network. Blockchain technology keeps the XLM network in sync across devices.
Chainlink is one of the few projects that offer both compelling utilities and potential commercial viability. Despite the unique applications of blockchain technology, it still tends to create silos. With Chainlink, the underlying system enables connected smart contracts, where the parties can conduct intermediary-less deals with each other, enabling outside data to act as actualization points for contractual execution.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.