Ethereum is the second most popular cryptocurrency after Bitcoin and the most popular platform that can run decentralized apps. But it is not the only one. There are competitors rising, and the stake is high.
Why you might like to take a look at the other blockchain platforms?
Ethereum is extremely popular – that’s why it experiences scalability problems. When you take a closer look, there are projects on it mainnet, that consume enormous computing power. CryptoKittens game at one point took over 13% of the network, becoming the single most active dapp.
There are ideas yet to be introduced, like sharding, that aim at solving the problem with the platform sluggishness. But right at the moment, we also have active competitors, that might have solutions answering to those scalability problems.
Let’s take a look at some of them.
NEO is often referred to as “The China’s Ethereum”, enjoying the support of that country’s government.
It’s quite similar to Ethereum in function, but utilizes a much more efficient consensus mechanism. This is the single element that makes it extremely fast. NEO can process 1,000, or even 10,000 transactions every second, comparing to approx. 25 on Ethereum (and, to get some scale, 2000 on VISA).
NEO is also open for the other programming languages, like Java and C#.
Recently launched EOS, called “Ethereum Killer”, is a powerful Infrastructure for decentralized applications. Its creators’ goal is to create a strong and scalable platform with zero transaction fees. It is multi-threaded and uses delegated proof-of-stake for consensus protocol.
EOS raised $700,000,000 during ICO. This makes it a very serious competitor.
The most distinctive part of Waves is its accessibility. It is a very friendly and easy to use platform. That makes it an interesting option for the beginners, even though Waves’ smart contracts aren’t as comprehensive and powerful as those based on Ethereum blockchain.
It has very low transaction fees (approx. $0.0045 per transaction) and comes with built-in exchange solutions – a truly all-in-one solution.
Why some decentralized apps platforms might be faster/better that Ethereum?
Ethereum is crowded – its popularity is the pro of the platform, but it also causes problems with scaling. But that’s just one side of the coin. It’s technology was a breakthrough – but since 2015 blockchain changed a lot, and the core of Ethereum may become obsolete comparing to the other platforms.
Still, basing on delivering ICO and blockchain projects, we consider Ethereum at the top of the platforms at this moment, keeping an eye on the new competition arising.
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