- One altcoin which can be compared with ETH is the Polkadot (DOT).
- Polkadot’s blockchain enables efficient DeFi’s and all finance-based services.
- ETH has gathered a significant spread over the industry.
In spite of judging upon all these aspects, the only one altcoin which can be compared with Ethereum (ETH) is the Polkadot (DOT).
Yes, it’s obvious that Bitcoin (BTC) is the king and rules the cryptocurrency industry. The market cap for BTC is epic and the store value is quite unbeatable. Most crypto enthusiasts visualize BTC as a sure-worthy digital asset. On the other hand, of course, it is true, over time the value of BTC will only increase further and furthermore. There’s no doubt why it’s known as the ‘Digital Gold’.
The next to the line is Ethereum (ETH) and over the past years, ETH has gathered a significant spread over the industry. It is right now holding a spot such that many speculate over the years ETH will dethrone BTC. This is owing to the fact that ETH and its blockchain effortlessly support any extensive attributes. These specifically being the Decentralized Finance (DeFi), non-fungible tokens (NFTs), and smart contracts. All these make ETH like it has got superpowers over time. These are facts that speculate over time ETH will overtake BTC.
However, there’s no point in taking ETH and BTC as competitors. True to the fact, Bitcoin is always Bitcoin, and it doesn’t come under the altcoins category.
In order to compare ETH with another altcoin, the worthy competitor should possess all equal attributes such as the ETH has. The competitor should have an efficient blockchain, which supports all attributes like ETH, such as DeFi, NFTs, and enable smart contracts. Furthermore, the blockchain should evolve over time rather than sticking with the same GEN-1.
DOT Vs ETH
It’s obvious Polkadot has all it takes to take on ETH. The DOT compromises a prominent blockchain upon which the coin operates. On the contrary, being the ninth largest cryptocurrency in the line alone is not the main aspect here. Polkadot’s blockchain enables efficient DeFi’s and all finance-based services to operate on the platform. Apart from that, the platform enables the effortless creation of smart contracts and NFTs too.
On the other hand, an important feature where Polkadot overtakes ETH is the platform’s overflowing preference by the Dapp developers. Both these platforms support building projects effortlessly.
However, on Polkadot developers could easily transit between blockchains, as Polkadot offers the bridge between various blockchains including ETH. Also, with overtime on the ETH platform, on developing Dapps and new projects the platform tends to slow down due to overload at times.
On the other hand, Polkadot’s versatility bridge between other blockchains enables faster and enables efficient handling of overloads upon the creation of different attributes for the same project.
In addition, Keith Bliss, Capital2Market’s President also puts forth Polkadot as far more superior on all aspects over ETH. He states on the run in the future, Polkadot has all it takes to overtake ETH by all means.
Polkadot is an open-source sharding multichain protocol which facilitates the cross-chain transfer of any information or asset types, not just tokens, thereby creating a wide range of blockchains interoperable with each other.
Ethereum is a decentralized open-source blockchain system that has its own cryptocurrency, Ether. Moreover, ETH works as a platform for many other digital assets, as well as for the execution of decentralized smart contracts.
The DOT compromises a prominent blockchain upon which the coin operates. On the contrary, being the ninth largest cryptocurrency in the line alone is not the main aspect here. Polkadot’s blockchain enables efficient DeFi’s and all finance-based services to operate on the platform.
DOT is considered one of the top-surging cryptos this year. With the developments and achievements of DOT in the past few months, we can consider that DOT is indeed potentially good investment in this year.
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