Bitcoin is known as the top and largest Cryptocurrency measured by market capitalization since its development. Its growth led to the birth of other Cryptocurrencies such as Ethereum, which has been next to Bitcoin as the biggest Cryptocurrency after its launch in 2015.
Its original cryptocurrency, called Ether, was developed at the peak of the open-source Ethereum blockchain, which handles and manages active contracts. Through the years, Ethereum has been utilised in most decentralised applications that render the most important portion of entire assets funded in decentralised finance enterprises.
Ethereum is one of the popular Cryptocurrencies with in-demand services on many crypto trading platforms such as Bitcoin Up. However, since Bitcoin and Ethereum have set the standard for crypto services, the list of Cryptocurrencies that want to rival and improve Ethereum’s functionality has risen.
These rivals are referred to as “Ethereum Killers,” and they often aim to handle a full array of assets, decrease transaction rates and charges, or implement essential staking bonuses to currency owners.
Check out five of Ethereum’s so-called “killers” and their advantages:
Ethereum Killer Polkadot started as part of Web3 Foundation in Switzerland, and its proof-of-stake model keeps it faster with fewer charges compared to Ethereum. Despite its minority, investors and traders can recognise the fullness taking point after the views of Polkadot. Established by Gavin Wood, one of the co-founders of Ethereum, Polkadot and Ethereum are intimately related to each other.
This blockchain system contract acknowledges any data, including tokens and coins, to be transferred between people, open blockchains and special, permissionless, and permissioned blockchains. In contrast to Ethereum that enables developers to build and test their applications through smart contracts, Polkadot lets developers construct applications that enable connection with other ledgers through a relay chain instead.
Chainlink (LINK) is an open-source, decentralised oracle system that is looking for ways to significantly improve smart contract capabilities by providing access to real-world data and off-chain computing while keeping the security and reliability assurances built-in in blockchain technology.
This Cryptocurrency was developed in 2917 and was introduced in 2019 on the Ethereum blockchain, but is planned to be blockchain sceptic. Due to this, Chainlink can be used with other blockchains such as Ethereum, xDai, BSC, Cosmos, Polkadot, Polygon, Avalanche, and more.
Stellar is another open-source Cryptocurrency and payment network and is one of the cheapest tokens in the market. This coin allows you to transmit, produce, transmit and exchange digital representations of any currency, including pesos, dollars, bitcoin and more. This crypto allows investors to develop a 1:1 ratio relationship between their digital coins and traditional currency.
Since digital tokens can be traded, you may treat them as you would with traditional money. This helps all the world’s financial systems communicate through a single network. Stellar Smart Contracts (SSC) are customized for storing, exchanging, and transferring value rather than having a smart contract language or a built-in virtual machine to run the code like smart contract features.
Binance is quicker than Ethereum and has already solved some of the issues Ethereum is working on, such as the cost of using the network. Binance also has its trading exchanges, giving them a huge user base. Investors and traders who want to save on charges may utilise the Binance exchange through using the native token, BNB, for their transactions. This gives people a huge incentive to scoop up a chunk of saving fees.
Cardano is a decentralised third-generation proof-of-stake Cryptocurrency. Although it deals with features and users of other blockchain systems like Ethereum, Cardano contradicts by engaging in the peer-examined experimental study as the framework for program improvements.
Just recently, Cardano launched Alonzo Smart Contracts, which holds in various forms. Smart contracts are relevant aspects for the development of Cardano as it supports the hosting of Decentralised Finance (DeFi) applications and encounters with enduring DeFi ecosystems for the first time.
At the time of writing, Ethereum has a market capitalisation of $545.39B, while one of its competitors, Binance, has a market capitalisation of $103.79B. If you are a crypto investor or trader who wants to know or is interested in these cryptocurrencies, you’ll be able to access the market through the different cryptocurrency trading platforms.