These three cryptocurrencies are expected to replace Ethereum

  The emerging crypto asset class reflects the fintech revolution that has brought technology and finance together. In biblical times, money was a number of commodities with intrinsic value. The word "salary" comes from the Latin "sal" or salt. In the Roman army, soldiers were usually paid in salt rather than other forms of currency. The monthly allowance is "salt money". Gold and silver are a form of money or a means of exchange dating back to pre-Biblical times. There are many references to precious metals in the Old Testament. Today, central banks and governments continue to hold gold as part of their foreign exchange reserves, confirming the role of gold in the global financial system.

The value of the world's major currencies comes from the credit of the countries that print fiat money. Governments have the power to expand and contract the money supply in pursuit of economic and political goals. "The love of money is the root of all evil" is a quote from the King James Version of the Bible. The control of money by national governments is the source of power. Since the crypto asset class operates independently of governments, it is a threat to power. While blockchain technology has become generally accepted, cryptocurrency tokens are another story. The fastest and most efficient coins are getting a lot of attention. Ethereum (ETH) has been the leader among them, but Cardano (ADA), Solana (SOL) and Polkadot (DOT) are not far behind as recognized competitors. Some market participants call them "Ethereum killers."

Ethereum: Second-ranked cryptocurrency, outperforming Bitcoin this year When most people think of cryptocurrencies, the first thing that comes to mind is Bitcoin. Bitcoin is, in a way, a byword for the crypto asset class. On December 31, 2020, Bitcoin was at $29,138 and Ethereum was at $742 per token. Bitcoin is up 43.9% to $41,940 as of Sept. 21, and is trading at $43,900 at press time, an increase of 51%. But Ethereum fared stronger. Since the end of 2020, it has risen 288.8% to $2,885 per token as of Sept. 21, and was up $3,125, or 321%, at press time. Ethereum began to rise as the market began to recognize the faster and more efficient Ethereum. Additionally, with the heightened concerns about climate change and carbon emissions, Ethereum has the advantage of being less energy-intensive. Bitcoin is the granddaddy of blockchain, and Ethereum represents the evolution of this asset class’s revolutionary impact on financial markets. Currently, technology is developing at the speed of light. Just a few short decades ago, few believed that we would carry a powerful smartphone with us everywhere. Three cryptocurrencies have followed Ethereum recently, with some market watchers calling them Ethereum killers.

Cardano:

Ethereum's Competitor Ethereum is up more than 300% since the end of last year, but Cardano has fared much better. As of September 22, the trading price of the Cardano token was $2.04, ranking fourth with a market value of $65.5 billion. At the time of writing, the token was already ranked third, second only to Ethereum. Trading near $2.30, it has a market cap of $72 billion.

Join the ranks of millions of users, and the global financial market has long known! download now The chart shows that Cardano closed 2020 at $0.1753, and it has gained an astonishing 1214% so far. As protocols, Cardano and Ethereum are similar. Both provide blockchain and decentralization capabilities for custom programming logic or smart contracts. However, Cardano and Ethereum use different blockchains. Many market participants believe that Cardano offers more flexibility as it is a third-generation cryptocurrency that offers better security and scalability.

Solana: Another Ethereum Killer On September 22, Solana was priced at $128.72 per token and had a market cap of $38.39 billion, making it the 7th largest cryptocurrency.

The chart shows Solana rising from $1.8421 on December 31, 2020 to $128.72 on September 22, an explosive rise. Like Ethereum, Solana's protocol provides smart contracts, but Solana is a direct competitor to Ethereum. Recent research has shown that Solana is faster than Ethereum and can process 50,000 transactions per second or more, while Ethereum processes 15 to 45 transactions per second. In the cryptocurrency space, the faster the better.

Polkadot also joins the fray:

As of September 22, Polkadot is the ninth largest cryptocurrency at $27.90 per token. But before press time, its price rose to $31.88, taking it to eighth place by market cap.

At the end of 2020, the price of Polkadot was $8.0368. On September 22, it rose to $27.90, an increase of more than 247%; as of press time, the increase had expanded to nearly 300%. Polkadot is famous entirely for scalability. Polkadot uses shards or "sidechains" that can process transactions in a parallel fashion, which is faster than Ethereum. Polkadot’s website says it is “providing the most robust platform for security, scalability and innovation.” Top 9 Cryptocurrencies ADA, SOL, and DOT are all going from strength to strength in their quest to replace Ethereum. All three cryptocurrencies are in the top 9 of 12,037 cryptocurrencies as of September 23.

The chart shows that Ethereum’s three largest rivals currently have a combined market capitalization of $149.22 billion, while Ethereum’s combined market capitalization is $370.3 billion. Even if ADA, SOL or DOT can surpass Ethereum or even Bitcoin, there will be new protocols that offer more attractive features in the coming months or years. Meanwhile, Ethereum’s market cap exceeds $1/3 trillion, and while rivals are looking to displace the second-ranked cryptocurrency, they still have a long way to go.