I get asked all the time about cryptocurrencies that could be “ETH killers” like they are going to replace Ethereum or offer some solution that is way better. My usual two cents is that if all they are offering is better gas fees then we already have a million chains that offer this, so it’s not enough. Still there are so many chains trying to be this and in my opinion, they will all fail. Let’s talk about why.
TLDR; Coins that offer alternatives to Ethereum tend to either sacrifice decentralization or development for profit or convenience. A coin may have low costs to use them, but offer no unique solutions or is extremely centralized. Most of the “Ethereum Killers” are nothing more than an Ethereum clones trying to catch the next wave of hype and trying to cash in on NFTs. There are some great protocols out there like Hive and Cosmos. However, Cosmos still doesn’t have enough development and Hive is a bit too complex to achieve the mass adoption it seeks in its current forms.
Do you still use Ethereum? What chains do you use for smart contracts? What are your thoughts on the many Ethereum alternatives out there? Will ETH 2.0 ship soon? Let me know what you think about this in the comments below and don’t forget to subscribe!
*Disclaimer: This is not financial advice and is purely for entertainment purposes. What you see, hear, or read is my personal opinion, and any statements made are based on my views and should not be misconstrued as fact. My crypto portfolio may or may not be simulated*
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