The Only Ethereum-Killer Is Probably Ethereum Itself

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Last Updated on 4 March 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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One absent voice in the cryptosphere as of late is Vitalik Buterin. The Ethereum CEO’s voice has largely been missed as Bitcoin rose to $50k in the past weeks. Vitalik was never the most charming or outspoken CEO of course, but his absence from social media just as his invention Ethereum is charging from one all-time-high to another is remarkable.

With that, he leaves the door open for so-called Ethereum-killers Cardano and Polkadot, both run by people that used to work alongside him, to propel themselves as possible replacements.

CZ, CEO of Binance, explained in a thread this week why there is only one possible Ethereum-Killer, and that was Ethereum itself.

Changpeng Zhao, who last week entertained everyone during an AMA with Mark Cuban, this week launched a thread on Ethereum-killers, just as Cardano and Polkadot are turning up the heat.

CZ stated:

Vitalik once said (and there is a video of it somewhere), ETH killer is ETH. I believe he is correct, ironically.

ETH is overwhelmingly successful. But its success (not other coins) may also be its own killer. Most new projects (that’s pretty much all projects in crypto) face this threat. Even Binance CEX is facing growth issues too. If we don’t scale our systems fast enough, we could also go extinct real quick.

Advertentie.

High fees

That in itself was a revelation, because it means that CZ believes that other systems are better suited to follow-up Ethereum in it’s leading position. Cardano, which has undergone multiple upgrades in the last few months, comes to mind.

As to his own Binance Smart Chain (BSC), Changpeng stated:

BSC is not a ETH killer. It is built with learnings from ETH and tries to help solve one key issue, high fees. It wasn’t designed that way, or at least, it wasn’t presented to me as such.

He then finished with: I don’t feel too bad picking on ETH because… ..It is still bigger.

Well ain’t that the truth. Let’s see if by the end of this year anyone can actually challenge Ethereum for the leadership. At this moment, in terms of market capitalization, Cardano, Polkadot en Binance Coin are all still far behind.