Blockchains that proclaim themselves Ethereum-killer, such as Cardano, Solana and Avalanche recently they are having a lot of success.
The case of Avalanche
Last Sunday, the AVAX crypto, of the blockchain Avalanche, reached its all-time high of over $ 146 and entered the top ten cryptocurrency by market capitalization.
The AVAX market is just below that of the USDC stablecoin at $ 36.2 billion at around $ 31 billion.
Avalanche had a sharp surge shortly after that Zhu Su, CEO of the Singapore hedge fund Three Arrows Capital, had tweeted that he had:
“Abandoned Ethereum despite having supported it in the past”.
Yes I have abandoned Ethereum despite supporting it in the past.
Yes Ethereum has abandoned its users despite supporting them in the past.
The idea of sitting around jerking off watching the burn and concocting purity tests, while zero newcomers can afford the chain, is gross.
– Zhu Su 🔺 (@zhusu) November 21, 2021
A few hours after this tweet, Su himself, who has long been a major investor in Avalanche, has tweeted among the first the news that AVAX had entered the top ten cryptocurrencies by capitalization
Together with the company Polychain Capital, Three Arrows drove a round of financing of 230 million dollars on Avalanche last September.
Statistics show that at seven days AVAX grew by 46.9%, in a bear market phase, 83% in two weeks, over 133% in the last three months and AVAX grew by one year since the beginning of the year. astounding 3.795%.
Avalanche, the blockchain that wants to replace Ethereum
Avalanche is an open source platform for the launch of decentralized applications (dApps), focused on DeFi. It’s a natural rival of Ethereum, but at the same time also of Solana, another cryptocurrency that has grown a lot in the last year.
Both blockchains aim to make their platforms for crypto apps and projects much faster and cheaper than the queen of blockchains for smart contracts, Ethereum.
Avalanche has long claimed to be there 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 most validators of its Proof of Stake (PoS).
Recently, it launched a $ 200 million fund, which will be used to expand its DeFi ecosystem.
Solana
Solana, launched last April, would 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 stocks that has had the best performance on the markets since the beginning of the year.
The other Ethereum Killer blockchain: Cardano
Alongside Solana, there is one of the most widely bought stocks of 2021 Cardano (ADA), a blockchain for smart contracts, which is attracting the attention of many crypto developers and investors.
The main goal of the Cardano 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 stock grew by 1000%.
Alongside these projects, there are many smaller, cheaper and scalable blockchain projects, including Flow, Polkadot, Algorand and Cosmos.
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