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Cardano (ADA): The Ethereum killer

Ahead of Ethereum merge, where do ETH killers stand?

<ul><li>The success of bitcoin and <keyword id="11896271" type="UNKNOWN" weightage="60" keywordseo="ether" source="Orion">ether</keyword> has led to an onslaught of new cryptocurrency coins and protocols.</li><li>There are more than 16,000 <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> tokens that have a collective market cap of about $2 trillion.</li><li>Here's why these four potential "<keyword id="11892696" type="UNKNOWN" weightage="60" keywordseo="ethereum" source="Orion">Ethereum</keyword> killers" could disrupt ether, according to JPMorgan.</li><li><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell?utm_medium=ingest&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_source=markets&amp;utm_source=markets&amp;utm_source=markets&amp;utm_source=markets&amp;utm_source=markets" target="_blank" rel="noopener">Sign up here for our daily newsletter, 10 Things Before the Opening Bell.</a></li></ul>Ethereum's <a href="https://markets.businessinsider.com/news/currencies/ethereum-upgrade-dominance-defi-market-share-rivals-eth2-sharding-jpmorgan-2022-1">dominance is at risk,</a> as the crypto network is still a year away from receiving a key upgrade to its blockchain that would make it more competitive against newer protocols, according to <a href="https://markets.businessinsider.com/stocks/jpm-stock">JPMorgan</a>.Efficiency concerns, number of transactions per second, and high gas fees are issues that have been plaguing ethereum in recent months, in part due to <a href="https://markets.businessinsider.com/news/currencies/best-selling-nft-collections-last-week-crypto-bayc-doodles-sandbox-2022-1">growing transaction volumes of NFTs</a> and other digital goods that often use ether as the preferred currency."However, crypto <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> continue to evolve and so-called 'Ethereum killers' are gaining popularity based on their improvements made versus ethereum," JPMorgan explained in a Friday note. The bank believes new <keyword id="11895317" type="UNKNOWN" weightage="60" keywordseo="cryptocurrencies" source="Orion">cryptocurrencies</keyword> that improve upon Ethereum's deficiencies could "chip away at Ethereum's dominance and market value," according to the note.Ether's market value has already begin to deteriorate amid a cryptocurrency meltdown exacerbated by the Federal Reserve's recent hawkish pivot. The <a href="https://markets.businessinsider.com/news/currencies/bitcoin-bear-market-crypto-value-2-trillion-peak-cryptocurrency-btc-2022-1">cryptocurrency is down about 35%</a> from its recent high, erasing almost $200 billion in market value.Here's why these four potential "Ethereum killers" could put a further dent into ether's dominance, according to JPMorgan.1. "<keyword id="11931714" type="UNKNOWN" weightage="60" keywordseo="solana" source="Orion">Solana</keyword> is much faster.""<a href="https://markets.businessinsider.com/currencies/sol-sol">Solana</a> is one of the fastest-growing cryptocurrencies. Its developers have claimed that it can process around 50,000 transactions per second, where as Ethereum current processes 15-45 TPS. SOL has over 400 projects running on its ecosystem, including stablecoins like Circle's USD. It also runs wallets, decentralized exchanges, and other DeFI projects," JPMorgan said.2. "<keyword id="5294933" type="UNKNOWN" weightage="60" keywordseo="cardano" source="Orion">Cardano</keyword> is more scalable.""<a href="https://markets.businessinsider.com/currencies/ada-usd">Cardano</a> was launched by one of Ethereum's co-founders, Charles Hoskinson. It has taken a research-intensive approach to the development, with each stage peer-reviewed and thoroughly tested before implementation. Cardano is now also launching its smart contract capabilities. This third-generation cryptocurrency is considered more scalable than Ethereum," JPMorgan said.3. "Polkadot is more interoperable.""<a href="https://markets.businessinsider.com/currencies/dot-usd">Polkadot</a> aims to solve some of Ethereum's scalability and cost issues. But Polkadot shines in its interoperability capabilities as it enables blockchains to communicate effectively. This approach also makes it easier for developers to switch to Polkadot's system," JPMorgan said.4. Tezos"<a href="https://markets.businessinsider.com/currencies/xtz-usd">Tezos</a> is a user-focused, open-source project that allows users to weigh on project governance and the direction of the blockchain. In addition, Tezos provides well-regarded security and modularity, and is viewed as more scalable," JPMorgan said.But these four cryptos still have a long way to go before they can seriously challenge ethereum's dominance. The combined market value of all four "Ethereum killers" is still worth less than a third of ether's market value.

Here's why these 4 cryptocurrencies are considered potential 'Ethereum killers,' according to JPMorgan

<ul class="summary-list"><li>Crypto billionaire <keyword id="11167282" type="General" weightage="60" keywordseo="sam-bankman-fried" source="Orion">Sam Bankman-Fried</keyword> predicted the big blockchains of 2022.</li><li>The <keyword id="2966084" type="General" weightage="60" keywordseo="ftx" source="Orion">FTX</keyword> CEO's picks were potential ethereum-killers <keyword id="1905050" type="General" weightage="60" keywordseo="solana" source="Orion">solana</keyword> and <keyword id="108152" type="General" weightage="60" keywordseo="avalanche" source="Orion">avalanche</keyword>, Decrypt reported.</li><li>Solana and avalanche are ranked No. 7 and No. 12, respectively, according to CoinMarketCap data.</li></ul>Crypto billionaire Sam Bankman-Fried said two <keyword id="2810876" type="General" weightage="60" keywordseo="ethereum" source="Orion">ethereum</keyword> killers are the most promising blockchains this year: solana and avalanche. In an <a href="https://decrypt.co/90576/ftx-sbf-gm-podcast-solana-avalanche">interview with Decrypt</a>, the FTX boss said solana, which is the seventh largest by market capitalization, has done something few others have done, which is scale. <cmsannotation type="cmsannotation" annotationid="wazirx" comment="wazirx" text="wazirx">wazirx</cmsannotation> "They're one of the only chains that has a real plausible path forward here in scaling to the level you would need to get to if you wanted industrial-scale usage," he said to Decrypt. Solana's total value of $42 billion pales in comparison to ethereum's whopping $375 billion, according to CoinMarketCap data. But, a recent <a href="https://markets.businessinsider.com/news/currencies/solana-crypto-take-market-share-away-from-ethereum-sol-ether-2022-1">note from Bank of America</a> pointed out that the blockchain's "proof of history" mechanism allows for low transaction fees, ease of use, and scalability, relative to others like ethereum which has become known for its high gas fees. As for avalanche, Bankman-Fried said, "it is a real chain; it's a cool chain, and I think that there's a world in which it gets absolutely huge." Currently, <a href="https://markets.businessinsider.com/news/currencies/avalanche-price-deloitte-avax-ava-labs-crypto-deloitte-ethereum-bitcoin-2021-11">avalanche's native AVAX </a><a href="https://markets.businessinsider.com/news/currencies/avalanche-price-deloitte-avax-ava-labs-crypto-deloitte-ethereum-bitcoin-2021-11">cryptocurrency</a> is ranked No. 12 with an approximate $20 billion market capitalization and a six-fold increase in the last year. Avalanche's token, along with solana, cardano and polkadot, have been dubbed <a href="https://www.businessinsider.in/investment/news/solana-cardano-polkadot-and-others-heres-a-quick-look-at-why-these-crypto-tokens-are-being-touted-as-ethereum-killers/articleshow/88045517.cms">ethereum killers</a> because their rival blockchains also offer smart-contract capabilities, in which two parties can execute a transaction automatically, with no intermediary, when certain criteria are met. This capability has been key to the booming market for non-fungible tokens. To Decrypt, Bankman-Fried added that bitcoin, the founding cryptocurrency and largest by market value, is "going to remain at the center of the crypto ecosystem." But its blockchain may not be how bitcoins regularly move around, given that so-called wrappers — which allow simpler transfers of tokens like bitcoin — are likely to "keep growing over time," he said.

Crypto billionaire Sam Bankman-Fried names 2 potential ethereum-killers as the next big blockchains: report

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Cardano (ADA): The Ethereum killer

Business Insider India

Ahead of Ethereum merge, where do ETH killers stand?

Business Insider India

Here's why these 4 cryptocurrencies are considered potential 'Ethereum killers,' according to JPMorgan

Matthew Fox

Crypto billionaire Sam Bankman-Fried names 2 potential ethereum-killers as the next big blockchains: report

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