For a long time, Ethereum was the only alternative dec smart contract platforms. However, with the growing number of users of the cryptocurrency market and the increasing market capitalization, new alternatives to Ethereum have emerged.
Solana Becomes the Largest Ethereum Competitor
As problems such as scalability problems and high transaction fees began to appear on the Ethereum network, many crypto currency users began to look for other alternatives and new projects appeared. With the number of projects increasing over time, Solana, Polkadot and Cardano have become the projects that have been the best alternative to Ethereum so far in the crypto currency ecosystem that has exceeded the number of digital assets by 12 thousand.
Since its launch, Cardano has been expected to be the best alternative to Ethereum in terms of scalability and security. However, the Cardano blockchain has recently shown signs of backwardness in some ways. Although smart contracts have been activated on the network, compared to Solana, the network has shown less activity. As a result of this, Solana has experienced a significant increase in market capitalization and has become the largest alternative project to Ethereum, surpassing its competitor Cardano.
Ethereum is Still the Clear Decider
Although many alternative projects have emerged in the ecosystem due to the serious problems of the Ethereum blockchain with its scalability, high transaction fees and transaction speed, Ethereum is still decisively leading. Along with the growth of the DeFi and NFT ecosystems, the number of activities on the Ethereum network has also increased significantly. The number of projects developed on the Ethereum blockchain has grown exponentially every day.
In addition, the smart contract platform has launched the Ethereum 2.0 process. This Ethereum 2.0 process, launched to solve a number of problems in the network, has gone a serious way along with a number of successful updates that have been made so far.