The Ethereum (ETH) blockchain is currently not very useful for users due to high GAS fees. 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 has also triggered the increase in transaction fees. For this reason, trading on the network has become a real problem and some alternatives have begun 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.
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.
Ethereum’s closest competitor is Cardano (ADA) with a B Rating. This is followed by EOS (EOS), NEO (NEO), Polkadot (DOT), Binance Smart Chain and Tron (TRX) with a C + rating.
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