Ethereum vs Competitors: Who will lose Relevance?

[GateioExchange]

Shanghai upgrade is finally happening, but is it too late?  Will Ethereum even be relevant by the time it finishes upgrading?  Or are they taking too long?

Lots of EVM competitors now:
a)  Polygon zkEVM functionality
b) Cardano now has native EVM
c) Filecoin added VM compatibility

Check out our take, and then reply with feedback of your own:
https://www.youtube.com/watch?v=GO4-cOgo7j4

[1714252091]

1714252091

[Why you bully me]

Shanghai upgrade is finally happening, but is it too late?  Will Ethereum even be relevant by the time it finishes upgrading?  Or are they taking too long?

Lots of EVM competitors now:
a)  Polygon zkEVM functionality
b) Cardano now has native EVM
c) Filecoin added VM compatibility

Check out our take, and then reply with feedback of your own:
https://www.youtube.com/watch?v=GO4-cOgo7j4

I believe Ethereum is too far ahead with its first movers advantage and the amount of developers and dapps in use etc. I think the narrative of your post should be the other way around and asking if other altcoins could try and reach close to ethereum.

[avikz]

ETH is a pioneer in the altcoin market and it is very widely used everywhere in web3 or in tokens market. The kind of footprint it has got, has no competition. So I would say that ETH will loose relevance.

Being technically advanced doesn't always help in adoption. So ETH may be technically a little behind than some other coins, but in terms of users, it is far ahead. So I don't see ETH becoming irrelevant.

[bittick]

considering the fact that many of the alternate blockchain like arbitrum are actually helping ethereum increasing its market capitalization in general, i'd say the competition would have tough time competing against ethereum.
even if the like of polygon are trying to implement some additional feature, but ethereum can be said doing it first because many second layer implementing the new technology.

[dbshck]

Shanghai upgrade is finally happening, but is it too late?  Will Ethereum even be relevant by the time it finishes upgrading?  Or are they taking too long?

Lots of EVM competitors now:
a)  Polygon zkEVM functionality
b) Cardano now has native EVM
c) Filecoin added VM compatibility

Check out our take, and then reply with feedback of your own:
https://www.youtube.com/watch?v=GO4-cOgo7j4

I believe Ethereum is too far ahead with its first movers advantage and the amount of developers and dapps in use etc. I think the narrative of your post should be the other way around and asking if other altcoins could try and reach close to ethereum.

Indeed. I'd argue that Polygon and Filecoin can maintain their relevance by catering to distinct functionalities and niches. Polygon still has a decent DeFi TVL and actively pursues growth in the NFT market, recently convincing Solana's DeGods to move to their chain. Filecoin team is the same team that builds IPFS I believe, which is widely used today. Cardano, however, I'm amazed to see Cardano still in the top 10 by market cap size. Do people actively use it, and if so, for what purposes?

[Yogee]

[.....]
Cardano, however, I'm amazed to see Cardano still in the top 10 by market cap size. Do people actively use it, and if so, for what purposes?

User base may not be as high as Ethereum but it's still growing. Most are probably just staking at the moment and waiting for the potential they see on Cardano.

I don't see this chain losing relevance despite Ethereum's recent updates. It's true that we don't hear much about them since developers prefer the slow and steady approach. Only releasing new features when they are certain it's ready for mass usage. The chain seem stable unlike others that has outages every now and then. Perhaps that's also one reason why it remains in the top 10.

[fvb]

I don't think it will ever lose its relevance. Although now many use other networks due to the price of gas, and more and more new projects are coming out on other blockchains. But as forum users correctly write here, ETH is a pioneer and, one might say, the founder of the entire movement. And if the price of transactions is reduced by at least half, then everything will be even better.

[Argoo]

Shanghai upgrade is finally happening, but is it too late?  Will Ethereum even be relevant by the time it finishes upgrading?  Or are they taking too long?

Lots of EVM competitors now:
a)  Polygon zkEVM functionality
b) Cardano now has native EVM
c) Filecoin added VM compatibility

Check out our take, and then reply with feedback of your own:
https://www.youtube.com/watch?v=GO4-cOgo7j4

Ethereum was, is and will be the leader of altcoins for a long time. It has a good team and many useful features. Some coins, including BNB, simply copy the functions of ethereum, improving them a little. Now ethereum continues to be updated and improved, and this inspires confidence that this coin will be ahead of all altcoins for a long time to come.

[moneystery]

Why has Ethereum lost its relevance? To be honest, Ethereum is the leader in the Altcoin market and it will be very difficult for other tokens to overtake Ethereum. Regardless of the sophistication of the technology, or how other chains develop, people still (for now) believe in Ethereum and hold onto it.

[podluznyj]

Why has Ethereum lost its relevance? To be honest, Ethereum is the leader in the Altcoin market and it will be very difficult for other tokens to overtake Ethereum. Regardless of the sophistication of the technology, or how other chains develop, people still (for now) believe in Ethereum and hold onto it.

I completely agree with you that eth, for me, is the most relevant cryptocurrency today, it is more stable today than other altcoins, in fact, how many have not been and have not come up with a new crypt, no one has yet managed to gain a foothold in the market and also competitors in the network few

[Husires]

How can we consider Polygon a competitor to Ethereum when it is built as a second layer of Ethereum and relies on it mainly?

The continuous development of Ethereum will make the rest of the competitors useless currencies, there is nothing to offer except for low fees, which Ethereum seems to be succeeding with, with the possibility of expanding applications easily.

What determines the end of the battle is the continuity of development. If these currencies stop developing, they will slowly die.

[crzy]

These are the healthy competition, but it looks like ETH is still ahead for many reason.
I remember ADA claiming to be the ETH killer but it was a pure hype, now they are trying to copy the update to stay in the competition. Well its good to have more choices, and choosing the best one should be our top priority, for me ETH will still lead here.

[posi]

I still believe in ETH's potential and no competitor will surpass it. ETH has been around since 2015, and so far, many new projects are constantly being born and are always advertised as better than ETH, which is the killer of ETH. But so far, all have failed miserably. The most recent is Solana, and we could have it failed miserably, I don't even believe Sol will recover from the FTX crash, let alone replace ETH in the future. And from my observation, many recent new projects also have no one outperforming ETH in the near future.

[yazher]

There's no doubt that their competitors are now going to give them hard times since the services and items that they are offering this time are worthy. Unlike the old days, Ethereum competitors are just weak and don't have any real road maps that will work. Nowadays, they cannot be comfortable in their chair because their competitors are willing to take huge risks in their development and updates just to keep their users and not migrate to other competitors as well. what is most important to the other competitors is their transaction fees and this is one of the big things why they gain more users throughout the years.

[poodle63]

Why has Ethereum lost its relevance? To be honest, Ethereum is the leader in the Altcoin market and it will be very difficult for other tokens to overtake Ethereum. Regardless of the sophistication of the technology, or how other chains develop, people still (for now) believe in Ethereum and hold onto it.

It's also a good question. People were always seeing the new blockchain as a competitor for ethereum while the fact that if ethereum itself is not even seeing it as competitor. Those blockchains being created to give solutions to the ethereum scalability which is not able to handling so many transactions at the same time. This is also main problem that has been facing by so many people. The new blockchain gives alternative blockchain.

[hugeblack]

Over my long knowledge of cryptocurrencies, and since 2017, when Ethereum was issued as a currency that has its place that is different from Bitcoin and has a bright future, thousands of cryptocurrencies have appeared claiming to be the "Ethereum killer", but most of these projects have died during the first 3 years and with the transformation of Ethereum to POS, you will not be able to be long-term competitive currencies.
So, if ehereum fees rise, we may witness competition, otherwise these currencies will die with time.

[theskillzdatklls]

Shanghai upgrade is finally happening, but is it too late?  Will Ethereum even be relevant by the time it finishes upgrading?  Or are they taking too long?

Lots of EVM competitors now:
a)  Polygon zkEVM functionality
b) Cardano now has native EVM
c) Filecoin added VM compatibility

Check out our take, and then reply with feedback of your own:
https://www.youtube.com/watch?v=GO4-cOgo7j4

I believe Ethereum is too far ahead with its first movers advantage and the amount of developers and dapps in use etc. I think the narrative of your post should be the other way around and asking if other altcoins could try and reach close to ethereum.

Yeah, I think the ETH-killer narrative is mostly done. Destroyed on the 2021 cycle.

At this point, at least for this type of technology, it's mostly a race to become a dominant L2 or other.

Trying to convince enough people to join your chain over Ethereum when it's worth hundreds of billions and getting ridiculous TX fees spent on it per day/week, 30x ratioing Bitcoin on fees, I mean good f- luck.

[woez]

My view It is difficult to predict exactly which platforms will lose their relevance in the highly dynamic and growing cryptocurrency market. Ethereum has established itself as a leading smart contract platform with a large and active developer community, and is currently undergoing a major upgrade with the Shanghai hard fork.

Yes, While there are competitors offering similar features, such as Polygon's zkEVM, Cardano native EVM, and Filecoin VM compatibility, Ethereum has had a significant head start in terms of adoption, network effects, and market cap. However, it is important for Ethereum to continue to innovate and improve its platform in order to remain competitive in the long term and depend on its ability to provide value to its users and ecosystem I think.

[Myleschetty]

There's nothing like a competition between Ethereum and other altcoins.
First, Ethereum is like BTC in the altcoin market and it was the first to introduce the dApp concept into the cryptocurrency market before some dev imitate the ETH concept.
No matter how hard other dApp projects try they will always live in the shadow of ETH and if you guys notice you'll see that it like Vitalik purposely delay the ETH2.0 upgrade to give space for other dApps projects.

[livingfree]

It won't lose its relevance.

Still a top altcoin and that's like being premium on this market. No matter what upgrade will it have, the matter is going to be still on its favor because of how it was built.

There could be a better altcoin than Ethereum and has its own network and yet, many investors won't look at that as all of us prefer to look into the current state of Eth.