Logo
Cardano Ecosystem

Watcher Guru

07/22/2022

·

774 views


Will ‘Ethereum Killers’ takeover ETH in 2022?

Following the arrival of Bitcoin back in 2009, an array of cryptocurrencies either mirroring or aiming to fulfill…

Will ‘Ethereum Killers’ takeover ETH in 2022?

Following the arrival of Bitcoin back in 2009, an array of cryptocurrencies either mirroring or aiming to fulfill Bitcoin’s shortcomings emerged. Other popular coins like Ethereum [ETH] and Dogecoin [DOGE] encountered similar instances. While Bitcoin remained unfazed by the arrival of these cryptocurrencies, ETH and DOGE began feeling the heat from them. Various assets, including Polkadot [DOT], Solana [SOL], and Cardano [ADA], were dubbed “Ethereum killers.” It turns out that the likelihood of them taking control of the asset was far lower than initially thought.

Freddy Zwanzger, the lead at Blockdaemon’s ETH ecosystem, pointed out Ethereum’s hot streak throughout the years. He noted that this would prolong the following ‘The Merge.’ During a recent Ethereum Community Conference, Zwanzger stated,

“It’ll continue to be a leader. I mean, obviously, the first and most important smart contract platform, and that’s not going to change. All the Ethereum killers from back in the day didn’t succeed, and I don’t expect them to succeed at all.”

Ethereum has taken over the DeFi space for the longest time. However, with more decentralization, low fees, scalability, and advanced smart contract implementation, third-generation blockchains took the limelight.

Source

The above chart shows how ETH was depleting in terms of total value locked. Therefore, several speculated ETH would soon lose its hold on the DeFi space as ‘The Merge’ encountered multiple delays.

However, Ethereum’s big transition from Proof-of-Work [PoW] to Proof-of-Stake [PoS] is just weeks away. This network upgrade is considered revolutionary, making it even harder for Ethereum killers to take over the world’s second-largest crypto network.

Zwanzger added,

“The original Ethereum roadmap was focused on sharding, but that’s not so much the case anymore. Now we have a roll-up-centric roadmap, so scaling via layer 2 solutions.”

Vitalik Buterin claims #Ethereum will be able to potentially process 100,000 transactions per second at the end of its roadmap.

— Watcher.Guru (@WatcherGuru) July 21, 2022

Ethereum and its 31% weekly gains

After drowning in the red sea for quite some time, most assets in the market managed to pocket some gains. Ethereum was among the ones that witnessed a significant surge. During press time, the asset was trading for $1,569 following a 5.42 percent daily surge. It should also be noted that over the week, ETH surged by a whopping 31 percent.

AD

Proposals Catalyst F14 - Cast your vote, search "Otavio" in the Voting App.

If you are you using your ADA to vote in Cardano’s Project Catalyst don’t forget to voice your vote. We would be excited if you can see, comment, share and vote for us. Tip: To find them its easiest to search for "Otavio"Vote for Us


Read Original Article on Watcher Guru

ORIGINAL SOURCE

https://watcher.guru/news/will-ethereum-...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


More from Watcher Guru

See more
Best Cryptocurrency To Buy in 2025: Ripple (XRP) or Cardano (ADA)?
Watcher Guru
Best Cryptocurrency To Buy in 2025: Ripple (XRP) or Cardano (ADA)?

05/23/2025

·

240 views

Related News

See more
Voting for Us - Catalyst Fund 14

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)