Ethereum-killer blockchains: the future of Avalanche, Solana and Cardano
Ethereum-killer blockchains: the future of Avalanche, Solana and Cardano
Blockchain

Ethereum-killer blockchains: the future of Avalanche, Solana and Cardano

By Vincenzo Cacioppoli - 27 Nov 2021

Chevron down
Listen this article
download

Self-proclaimed Ethereum-killer blockchains such as Cardano, Solana and Avalanche have been enjoying a lot of success recently.

The case of Avalanche

Last Sunday, the crypto AVAX, from the Avalanche blockchain, hit an all-time high at over $146 and entered the top ten cryptocurrencies by market capitalization.

AVAX’s market cap at around $31 billion is just slightly below that of the USDC stablecoin at $36.2 billion.

Avalanche surged shortly after Zhu Su, CEO of Singapore-based hedge fund Three Arrows Capital, tweeted that he had:

“abandoned Ethereum despite supporting it in the past”. 

Within hours of this tweet, Su himself, who has long been a major investor in Avalanche, was among the first to tweet the news that AVAX had entered the top ten cryptocurrencies by capitalization

Together with Polychain Capital, Three Arrows led a $230 million funding round on Avalanche last September.

The stats say that on a seven-day basis AVAX is up 46.9%, in a bear market phase, 83% in two weeks, over 133% in the last three months and since the beginning of the year, AVAX has grown by a staggering 3,795%.

Avalanche, the blockchain that wants to replace Ethereum

Avalanche is an open-source platform for launching decentralized applications (dApps), centred around DeFi. It is a natural rival to Ethereum, but at the same time also to Solana, another cryptocurrency that has grown tremendously over the past year.

Both blockchains aim to make their platforms for crypto apps and projects much faster and cheaper than the queen of smart contract blockchains, Ethereum.

Avalanche has long claimed to be the fastest smart contract platform among blockchain networks in terms of time to finality (the process by which a transaction becomes irreversible). It also has the largest number of validators of its PoS (Proof of Stake).

It recently launched a $200m fund, which will be used to expand its DeFi ecosystem.

Avalanche
AVAX price has reached its ATH

Solana

Solana, launched last April, is said to have fast and cheap transactions.

According to the company, the blockchain can process 50,000 transactions per second, compared to Ethereum’s 15-30, with costs of $0.00025 per transaction. Its crypto, SOL, is now the sixth-largest by market capitalization. It is one of the best-performing stocks on the markets since the beginning of the year.

The other Ethereum Killer blockchain: Cardano

Alongside Solana, among the most popular large-cap coins of 2021 is Cardano (ADA), a smart contract blockchain that is attracting the attention of many crypto developers and investors.

The main goal of Cardano’s founders is to create a blockchain that is more sensitive to environmental sustainability.

It has now become the third-largest cryptocurrency by capitalization after Bitcoin and Ethereum. In 2021 alone, the coin has grown by 1000%.

Alongside these projects are many smaller, cheaper and more scalable blockchain projects, among which Flow, Polkadot, Algorand and Cosmos are worth mentioning.

 

Vincenzo Cacioppoli

Vincenzo was born in Genova but lived most of his life in Milan. He has a degree in political science. He is a journalist, blogger, writer, and marketing and digital advertising expert. After a long experience in traditional marketing, he started working with the web and digital advertising in 2011, creating a company called Le enfants. Passionate about the web and innovation, in 2018 he started exploring the topics related to blockchain technology and cryptocurrencies. Independent cryptocurrency trader since March 2018, he now collaborates with companies in the sector as a content marketing specialist. In his blog. mediateccando.blogspot.com, he has long been primarily focused on blockchain, which he considers to be the greatest technological innovation after the Internet. His first book about blockchain and fintech is scheduled for release in November.

We use cookies to make sure you can have the best experience on our site. If you continue to use this site we will assume that you are happy with it.