Ethereum is known as the heart of the DeFi market. In this article, let’s list 5 altcoin projects that can replace the leading altcoin…
Here are the strongest Ethereum competitors
Polkadot (DOT), the interoperability Blockchain that facilitates cross-chain transfer of any data or asset type is one of the strongest Ethereum competitors you can see on most analysts’ lists. The altcoin project was founded by Gavin Wood, one of the co-founders of Ethereum, with the aim of addressing Ethereum’s flaws in a new Blockchain. Polkadot allows its smart contracts to operate independently of the main Blockchain while its competitors operate on the “hub and spoke” model.
The next Ethereum competitor, Cardano (ADA), as a decentralized platform, allows complex programmable transfers of value to occur in a secure and scalable manner. While it may be a little late to rank among the “Ethereum killers” that allow smart contracts and thus DeFi applications in the second half of 2021, Ethereum is an ecologically more sustainable alternative to its competitors.
Terra (LUNA) is a Blockchain protocol that uses fiat-pegged stablecoins to power fixed-price global payment systems. Rising to the 9th place by market value, LUNA is another altcoin project that can replace Ethereum. Terra founder Do Kwon says LUNA could surpass DAI, its largest decentralized stablecoin.
Solana (SOL) is a functional open source project based on the permissionless nature of Blockchain technology to provide DeFi solutions. As well as being one of the strongest Ethereum competitors, it is backed by the billionaire founder of FTX Sam Bankman-Fried and Sino Global Capital, and has amassed huge stakes in 2021. The Solana network has been the victim of bot attacks in recent months and has seen hours of outages. Regardless, it’s a strong alternative to its rivals, given Ethereum’s network congestion.
Avalanche is defined as the first layer blockchain solution that provides a platform for decentralized applications and private Blockchain networks. Avalanche network; It consists of three basic Blockchains: X-Chain, C-Chain and P-Chain. While the AVAX token reached over $100 in a short time in 2021, it collected funds from giant companies such as Three Arrows Capital, as we mentioned in the news of Kriptokoin.com.
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