Are there competing blockchains emerging against Ethereum?

Asked 2 years ago

Hi everyone, I was wondering whether there are any other non-currency-based blockchains other than Ethereum in the DeFi world?

Odin Knapp

Tuesday, April 26, 2022

After successfully implementing the London Upgrade (EIP-1559), Ethereum seems to be on the right path toward challenging Bitcoin’s market dominance. However, Ethereum’s competitors are also trailing it faster than we thought. Ethereum alternatives often referred to as “Ethereum Killers,” aim to get a substantial share of the DeFi, NFT, and smart contract sectors.

Ethereum alternatives are basically open-source blockchains, capitalizing on solving Ethereum’s drawbacks, mainly scalability and high gas fees issues. Binance Smart Chain, Cardano, Algorand, EOS, Solana, Polkadot, Avalanche, Zcash, and Tezos are the most popular Ethereum alternatives projected to eat into Ethereum’s share in the DeFi and NFT landscapes.

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