The Ethereum (ETH) blockchain is currently not very useful for users due to high GAS fees.
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Therefore, although there are new alternatives searches, #Weiss #Crypto #Rating states that there will be no " #Ethereum #Killer" anytime soon.
The increase in transactions on #Ethereum also triggered the increase in transaction fees. For this reason, trading on the network has become a real problem and some alternatives have started to be preferred by users. But could these alternatives be an Ethereum killer? Experts are not so sure about this.
🔥Ethereum Killer Probability is Low
Weiss Ratings, a market analysis and risk rating firm, established the Weiss Crypto Ratings branch to deal only with cryptocurrencies. According to research conducted by this branch, it is unlikely that an Ethereum killer will appear in the near future.
“Some say #L1s are catching up to Ethereum, but we are skeptical about that. Previous attempts like this have emerged and sacrificed the entire form of #decentralization in order to be cheaper and faster. It's the same story as in 2017. ”
L1 refers to the underlying #blockchains, i.e. blocks where transactions are recorded directly on the chain. #L2 scaling solutions such as Bitcoin's (BTC) Plasma or #Lightning #Network process transactions differently.
Referring to the decline of promising projects in 2017, Weiss Crypto Ratings argued that some current projects could suffer the same fate.
“We all know how this ended. But people keep talking about these rivals as if they were holding a candle to Ethereum. The only hope for some of these alternative L1s is to become Ethereum's side chain. ”
Ethereum's closest competitor is #Cardano ( #ADA) , which is rated B. This is followed by #EOS (EOS), #NEO (NEO), #Polkadot ( #DOT), #Binance #Smart #Chain and #Tron ( #TRX) with a C + rating.