Ethereum is known for its scalability issue which has degenerated into the network being congested, having slow transaction speed, and expensive fees.
This has led to the creation of alternatives that view themselves as ETH killers since they are solving the scalability problem that the foremost smart contract-compatible blockchain has.
Ethereum has been struggling in terms of price recently, with its YTD gains declining to less than 25%. Despite this bearish pressure, Grayscale has applied to convert its ETH Futures Trust ETF into a tradeable ETF.
This article analyzes the top ETH killers or alternative blockchains that solve the issues noticed in Ethereum.
Polkadot is a blockchain that was created by one of the co-founders of ETH, Gavin Wood. To ensure that the network is scalable, Polkadot ensures that the smart contracts operate independently of the main chain. These independent smart contracts are called parachains.
Avalanche is seen as an Ethereum killer that is made up of multiple chains, which are meant to monitor smart contracts, creation of tokens, as well as validate transactions. It also comes outfitted with smart contracts.
Solana is a blockchain that is available for developers to build their decentralized apps such as Decentralized Finance platforms and NFT projects.
People are more inclined to develop their innovations on a chain that is fast and has a lower transaction fee. It has a theoretical throughput of 65,000 transactions a second with very affordable transaction fees.
Cardano is another blockchain that was created by a co-founder of Ethereum, Charles Hoskinson. This chain is designed to be peer-reviewed before being launched. Like others above, it is outfitted with smart contracts.
Binance Smart Chain is a reputable blockchain that offers smart contract features. Users can program their decentralized apps on the blockchain. It is one of the chains that was created by the Binance team such as Binance Chain.
Tezos is a smart contract-capable blockchain that is meant to develop Decentralized apps and create new digital assets.