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Author Topic: Is Polkadot going to Kill Ethereum?  (Read 2629 times)
leatutz
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January 20, 2021, 07:34:36 PM
 #101

Polka dot is an open-source project that works with shared protocol that enables Blockchain Networks to work with Synergy. The token serves three distinct purposes; Governance, Staking and Bonding. This is designed to co-exist with Leading smart contract Blockchains rather than competing with them. This is very appealing factor for some Investors. It won't be easy for the Polka dot to challenge Ethereum as many working projects are already using Ethereum Network even though Technically it is superior project but  It is already Home of 197 projects those are working on its networks  and many more willing to join it.

This is also evident from price movement that we have witnessed during the past month when its price moved from $2 to almost $6 that reflects great interest of Investors in this token. There are some predictions that within a year time , Dot will be Top 3 on Market cap.
Your prediction was very strong. Polkadot is already in 4th place, next could be third place. Polkadot can't kill Ethereum blockchain, within a few months polkadot hype will be lost as others blockchain. Only a few years ago we compared so many blockchains with Ethereum, but finally only Ethereum blockchain survived.
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January 20, 2021, 09:05:22 PM
 #102

Actually Polkadot organize is still distant from what Ethereum is since the one who made these two is the same individual which makes them comparable to each other. However in terms of ubiquity and number of financial specialists I question that Polkadot might beat the Eth that simple for most speculators would or maybe remain with the one that has as of now an set up establishment rather than attempting a modern one which may put them into hazard for the moment time.

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January 20, 2021, 09:17:38 PM
 #103

Not really. I am a follower and supporter of polkadot but there's a huge gap/difference between polkadot and eth in terms of market performance and coin stability. Although polkadot has a great increase of its market price value but the ERC20 tokens are also showing a great market performance.

The very nature of ETH, even there's project which showing great performance ETH stand still and continue to develop, bringing more investors

interest and support, Polkadot showed a huge jumped bringing  more attentions to possible investors, for now, there are people who might be

starting to place their money to this project that might impact more the position of this coin but still far replacing ETH.
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January 20, 2021, 10:16:23 PM
 #104

I believe Polkadot is a good project for investment, because Polkadot's price increase was beyond my expectation. Even 4 days ago the price hit
an all time high of $ 19.32. Even Polkadot's market cap finally made it past XRP, so for now Polkadot is in the top 4 based on the ranking on
the CMC sites.

This has proven that in 2021 Polkadot is increasingly attractive to investors, but to be able to beat Ethereum I'm not sure. Because Ethereum's
popularity is still very high compared to Polkadot, it will take a long time if Polkadot wants to beat Ethereum.

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January 20, 2021, 10:29:14 PM
 #105

I believe Polkadot is a good project for investment, because Polkadot's price increase was beyond my expectation. Even 4 days ago the price hit
an all time high of $ 19.32. Even Polkadot's market cap finally made it past XRP, so for now Polkadot is in the top 4 based on the ranking on
the CMC sites.

This has proven that in 2021 Polkadot is increasingly attractive to investors, but to be able to beat Ethereum I'm not sure. Because Ethereum's
popularity is still very high compared to Polkadot, it will take a long time if Polkadot wants to beat Ethereum.
Well Polkadot is certainly better than Ethereum in many ways but Ethereum has early starter advantage.
It will not be possible for polkadot to beat Ethereum once eth 2 is completely rolled out.
Just like there are better cryptos than BTC but BTC still the king because of its early start advantage.
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January 20, 2021, 10:38:06 PM
 #106

I don't think it will kill Ethereum, it just becomes another possibility to run transactions on.
It will become a competitor but it will not kill Ethereum.

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January 20, 2021, 10:55:17 PM
 #107

I don't think it will kill Ethereum, it just becomes another possibility to run transactions on.
It will become a competitor but it will not kill Ethereum.
There will never be a platform who will be going to kill ethereum. As far as I know that this is already declared that so many times by various platforms to compete with ethereum but they can't even surpass ethereum's mcap.
DOT is only getting short term traction that created the pump. i do believe if the DOT's bullish trend will be ending very soon too.

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January 21, 2021, 05:18:11 AM
 #108

I don't think it will kill Ethereum, it just becomes another possibility to run transactions on.
It will become a competitor but it will not kill Ethereum.
It will be another alternative chain for ethereum and that's the only thing that can be achieved by DOT. It's quite impossible for DOT to replace ethereum as the best smartcontract platform.
People are putting ethereum as the best choice for the tokenization purpose and defi development.
They will not try to move into the another platform.
Some projects that decided to build their dapps on DOT just wanna to get the ride for the hype.

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January 21, 2021, 06:40:04 AM
 #109

I don't think it will kill Ethereum, it just becomes another possibility to run transactions on.
It will become a competitor but it will not kill Ethereum.
It will be another alternative chain for ethereum and that's the only thing that can be achieved by DOT. It's quite impossible for DOT to replace ethereum as the best smartcontract platform.
People are putting ethereum as the best choice for the tokenization purpose and defi development.
They will not try to move into the another platform.
Some projects that decided to build their dapps on DOT just wanna to get the ride for the hype.

You are right that it will not be easy for Polkadot to replace Ethereum because a Huge number of Alt coins have created their smart contracts on Ethereum network that is why there is congestion and we have to pay huge Gas and Transaction fee. Scalability is another issue which Ethereum IT team is trying to resolve but so far no significant improvement has been witnessed. Polkadot works works on Multiple chain concept that is why transactions are executed fast on its network. Polkadot dot has made huge progress during past one year Now it stands on Rank # 4 on coinmatketcap which is great achievement.









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January 21, 2021, 07:11:17 AM
 #110

There are few coins that are top 10 altcoins rank in 2016 and they loss the rank unexpectedly, I still remember blackcoin and others very well, I know Ethereum is far stronger but new projects are showing more interests in Polkadot, people that's a big problem for Ethereum if you ask me

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January 21, 2021, 07:40:30 AM
 #111

Not really. I am a follower and supporter of polkadot but there's a huge gap/difference between polkadot and eth in terms of market performance and coin stability. Although polkadot has a great increase of its market price value but the ERC20 tokens are also showing a great market performance.
ERC20 still by far the most used by the new projects and many existing projects which uses ERC20 token for their project still stand strong too.
It's just really hard to compete with ETH right now considering how many projects out there invested into its system and seem hesistant to move to other blockchain despite the fee problem.Honestly, if polkadot could ever reach #3 biggest market cap as true decentralized crypto it's already outstanding performance, oh wait it already is.

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January 21, 2021, 07:53:18 AM
 #112

Polkadot has had success lately. Yes, this cannot be ignored. But for now, it does not look like it will be a rival or be a threat to Ethereum. There has to be more for this. In such a short time, Etherum cannot shift the position it has held for years.

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January 21, 2021, 08:00:37 AM
 #113

Polka dot is an open-source project that works with shared protocol that enables Blockchain Networks to work with Synergy. The token serves three distinct purposes; Governance, Staking and Bonding. This is designed to co-exist with Leading smart contract Blockchains rather than competing with them. This is very appealing factor for some Investors. It won't be easy for the Polka dot to challenge Ethereum as many working projects are already using Ethereum Network even though Technically it is superior project but  It is already Home of 197 projects those are working on its networks  and many more willing to join it.

This is also evident from price movement that we have witnessed during the past month when its price moved from $2 to almost $6 that reflects great interest of Investors in this token. There are some predictions that within a year time , Dot will be Top 3 on Market cap.

Ethereum is the foundation of the biggest ecosystem in the Blockchain space. A big key is a very loyal community for any challenger, no matter if that will be Polkadot or Dfinity at the end of the day. Ethereum has a massive headstart.
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January 21, 2021, 12:37:37 PM
 #114

Not really. I am a follower and supporter of polkadot but there's a huge gap/difference between polkadot and eth in terms of market performance and coin stability. Although polkadot has a great increase of its market price value but the ERC20 tokens are also showing a great market performance.
That's right, I also saw a number of other ERC20 tokens that also experienced price increases even though they were not as big as those of Polkadot, but if someone thinks that polka-dots will kill Ethereum, then what must be passed first is USDT, because USDT tokens are still above Polkadot.

Even for a coin like Polkadot which got a lot and I mean a LOT of press coverage recently (not to mention the previous years of development and attention), it's a long way to go to reach the utility of networks like TRON or EOS even, never mind to talk about Ethereum. It's got to pass a lot of early hurdles first before Tether IMO.

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January 21, 2021, 02:31:35 PM
 #115

I don't think DOT will ever surpass ETH.
But I personally think DOT is a very good project.
I hold DOT in my wallet all the time.
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January 21, 2021, 03:34:09 PM
 #116

The market is not big yet and there is enough room for everyone. Also, do not forget that polkadot is done by the same people who did ethereum. In the future, they will develop shoulder to shoulder Cheesy
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January 21, 2021, 05:27:03 PM
 #117

Even though Polkadot is rising so fast but I am not sure it will replace Ethereum quickly, when Ethereum has a problem about high fees but in reality the problem is not really bringing down Ethereum's position. With this incident at least it proves that Ethereum is still too strong to replace, making it difficult for Polkadot even though they have faster technology but it still takes a long time and struggle to shift Ethereum's position.

Many ETH competitors have claimed to be the "Ethereum Killer", failing in the long run. The same will happen with Polkadot despite being technically superior than ETH in every way. Remember, it's not about scalability, but rather decentralization/security/censorship-resistance. Ethereum may be slower and much more expensive to use than other smart contract platforms, but its level of decentralization is beyond compare. This is what truly matters in order to ensure applications run as intended without third-party interruptions. After all, decentralization is what Blockchain tech is all about. Competing chains like Polkadot and TRON often sacrifice decentralization for convenience/speed/cost-effectiveness. This makes them more vulnerable to attacks and manipulation than Ethereum itself.

Nonetheless, it'll be quite hard (if not impossible) to take down Ethereum's place on the crypto market. It's still the world's most popular smart contract platform with new dApps and tokens popping up every day. Polkadot won't stand a chance against ETH's large user base. It may end up being an alternative to the Ethereum blockchain than a replacement. This is similar to other altcoins' hope to replace Bitcoin in the future. Yet, they've failed as Bitcoin's market dominance is unbeatable. At least, Polkadot will be able to last a long time thanks to the ever-growing support from the community. Just my thoughts Grin

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January 21, 2021, 06:08:28 PM
 #118

Polkadot has a lot of potential, but it's a big leap. Even if Polkadot turns out to be Ethereum-like in terms of decentralized applications, or to have the same 'space advantage' as Ethereum, it will remain a niche platform. I don't see Polkadot as a serious competitor to Ethereum and don't expect Polkadot to ever become Ethereum.

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January 21, 2021, 07:53:56 PM
 #119

Polkadot has a lot of potential, but it's a big leap. Even if Polkadot turns out to be Ethereum-like in terms of decentralized applications, or to have the same 'space advantage' as Ethereum, it will remain a niche platform. I don't see Polkadot as a serious competitor to Ethereum and don't expect Polkadot to ever become Ethereum.

Polkadot needs really a lot of time to catch ETH. 90% of tokens are eth20 so there goes that. Most important thing is that there is potential. Maybe like in 5-10years there will be some project that will come on pair with ETH. Polkadot has that potential but also Cardano and some others. We will see what will happen.
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January 21, 2021, 08:36:29 PM
 #120

Polka dot is an progressed blockchain extend with cross-chain compatibility so that it can too work with ethereum where required so I would take it emphatically and I think such ventures will take the blockchain innovation and crypto advertise forward.Still need to more home work to cross ETHER. The most popular coin after BITCOIN i Ether and the usage of Ether also rising.

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