All “Ethereum killers” Will Fall Short: Freddy Zwanzger From Blockdaemon

July

23

By Awi Khan // in Ethereum

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The Ethereum head at Blockdaemon said, “all the Ethereum murderers from back in the day didn’t succeed, and I don’t anticipate them to succeed at all.”

According to Freddy Zwanzger, lead for the Ethereum ecosystem at Blockdaemon, Ethereum will continue to dominate the crypto ecosystem in the years to come because of its value as a platform for smart contracts and subsequent network improvements made after the Merge.

During this week’s Ethereum Community Conference (EthCC), Zwanzger spoke with the Media release. He said:

“It’ll continue to be a leader. I mean, obviously, the first and most important smart contract platform, and that’s not going to change.”

An institutional-grade blockchain infrastructure platform called Blockdaemon provides infrastructure tooling and node operations for blockchain enterprises.

The Blockdaemon employee also targeted rival layer-1 blockchains that have attempted to unseat Ethereum from its position as the market leader but failed:

“All the Ethereum killers from back in the day didn’t succeed, and I don’t expect them to succeed at all.”

Solana, Cardano, Tezos, and Polkadot are a few of the cryptocurrencies dubbed the “Ethereum killers.” A lot of these blockchains claim to have lower costs and faster transactions. Still, they also tend to have fewer active developers, and some of them even downplay the importance of decentralization.

No other has been able to overtake Ethereum from its second-place market cap ranking to this point. According to CoinMarketCap, Cardano and Solana are now rated eighth and ninth, Polkadot is ranked eleventh, and Tezos is ranked thirty-seven.

Zwanzger thinks the impending Merge will advance Ethereum’s technology and pricing further.

There are so many positive aspects in there, including environmental friendliness and a variety of other factors that are advantageous to many individuals. Staking will grow more alluring, he said:

“The roadmap is materializing is a show of strength and commitment.”

The Ethereum Merge, which entails changing the cryptocurrency from a proof-of-work (PoW) mining consensus to a proof-of-stake (PoS) paradigm, is anticipated to launch around September 19.

Zwanzger acknowledged that scaling would be Ethereum’s most serious difficulty in the future.

“The original Ethereum roadmap was focused on sharding, but that’s not so much the case anymore. Now we have a roll-up-centric roadmap, so scaling via layer-2 solutions.”

According to data from Blockchair, the proof-of-work consensus technique currently permits the blockchain to process 15 to 20 transactions per second (TPS).

When the Ethereum network adds sharding in 2023, it is anticipated that transaction throughput will increase by a factor of 100.

By dividing the entire network into many segments, sharding is a multi-phase upgrade that increases the scalability and capacity of Ethereum.

Sharding will help “supercharge” the network’s scalability by collaborating with layer-2 fixes.

Co-founder Vitalik Buterin asserted that the network would be able to process transactions at a rate of up to 100,000 TPS after shredding.

 

About the author, Awi Khan

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