Many people still hold out hopes for currencies that can be labeled as an “Ethereum killer”. While there is competition in the blockchain space, it won’t be easy to dethrone Ethereum. That said, the competing blockchain ecosystems all note value growth as well.
A lot has happened behind the scenes of Cardano this year. Its ecosystem is still evolving, as can be seen from the introduction of proof-of-stake not that long ago. The community remains very loyal to this project. This year’s 293.7% price increase may have something to do with that excitement. It is a solid performance for this ‘Ethereum killer”, even though both blockchains are heading in slightly different directions.
Binance Coin (BNB)
It has been an exciting year for Binance Coin. More specifically, the Binance Smart Chain launch is widely considered a possible Ethereum killer. It has cheaper and faster transactions and is home to several DeFi-oriented products. All of this reflects well on the BNB value, which has risen by 82.8% this year. However, it is pertinent to look beyond BNB if one wants to keep tabs on the actual competition with Ethereum.
While many people have a bias toward Tron and Justin Sun, the blockchain has noticed some significant progress. It, too, is now home to multiple DeFi products, as well as various stablecoins. Whether Tron can be an Ethereum killer or not will always remain a topic of debate. Throughout 2020, the value of TRX has increased by just over 100%. A strong performance in a year that started badly for all crypto markets.
Once touted as a significant Ethereum killer, Tezos is seemingly losing a bit of traction. It is still a very powerful blockchain, and XTZ staking remains very popular. However, it seems to miss that “pazzazz” to elevate it to the next level. That being said, there have been some intriguing developments lately. Even so, XTZ noted a 38.1% price increase, which is still better than keeping money in a bank account.
The “Chinese Ethereum” has not turned out to be much of an Ethereum killer after all. Not because it is a lousy blockchain, as it certainly has a lot of potential for the right people. However, it seems that competing with the giant is a futile battle. NEO Can still thrive by focusing on its strengths, which is why the NEO price increased by 92% throughout 2020. The coming years will be intriguing for this ecosystem regardless.
An often-overlooked blockchain ecosystem, yet VeChain has tremendous potential in the supply chain industry. Some of the world’s biggest brands are already experimenting with its technology, including Walmart. Despite the lack of “media attention”, VeChain’s VET asset notes a 140% price increase over the year. The coming years may prove interesting for this ecosystem.
Even though hardly anyone seems to talk about Waves as an Ethereum killer, no one can overlook its blockchain. Further progress has been made throughout the past 365 days, bolstering the blockchain and its ecosystem in the process. As far as the WAVES asset is concerned, there is a 1.398.2% price increase this year. It is uncanny how this momentum can go by mostly unnoticed.
Special Mention: Polkadot
One ecosystem that may effectively be able to hold a candle to Ethereum is Polkadot. For now, it is too early to determine its yearly performance, but everyone can see the growth taking place behind the scenes. Whether that makes Polkadot an Ethereum killer remains to be determined. It is undoubtedly an exciting competitor worth keeping tabs on.
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