Ethereum Alternatives: A Guide to Solana, Cardano, and Polygon on Trust Wallet Trust

ethereum alternatives

Perhaps the main advantage of Tezos is that it was built with a self-amending feature. For a traditional blockchain such as Ethereum, it is often necessary to create a hard fork to make significant changes. The problem is that hard forks can be not the most elegant way to develop the system and can even split the network. The advantage of Tezos is that the network can be updated without a hard fork. Compared to ETH, its native token AVAX is limited in supply, and fees are automatically burned. MATIC is a sidechain that is designed to work parallel to the main Ethereum Blockchain.

ethereum alternatives

However, overall Amber Data feels a bit limited, and the interface is confusing. For example, while it’s easy to see what’s been sent and received, you can only view a graph of account history for 30 days, and ‘No Addresses were found’ for Incoming Volume by Address. Again, covers the basics of Ins and Outs, but nothing much to dig into. Nice colourful representation of token holdings, and has a functional token explorer. Originally built as block explorers for Bitcoin, these services have diversified to include Ethereum. The address overview is compact and gives you all the required info, and it’s very easy to see what you have sent and received over time (displayed in chart form as well, by clicking on ‘History’ tab).

Binance (Binance Smart Chain)

The rising popularity of decentralised finance (DeFi) and the NFT market has increased the activities and the users on the Ethereum network. As a result, the growing usage has congested the network causing the fees to soar. The DeFi explosion in 2020 and the NFT boom in 2021 took place on the Ethereum network. Unfortunately, this has created a score of problems for the network, resulting in the need for alternatives.

  • However, the high gas fee have been a pain for all the investors, specially the smaller ones.
  • We may attribute Ethereum’s price drop to the recent market crash affecting bitcoin and many other altcoins.
  • As always, we encourage you to always do your own research (DYOR) when interacting with blockchain protocols, staking, and all things Web3.
  • A widely followed crypto analyst is warning that Ethereum (ETH) will likely underachieve relative to Bitcoin (BTC) for a while.
  • Cardano is another blockchain that, like Ethereum, is meant to run decentralized applications.

We try to shed light on the often incomprehensible world of tokenization and crypto-banking. The amount of FTM is limited to 3,175,000,000, two-thirds of which are already in circulation. Work on Cosmos began back in 2014, followed by the white paper in 2016 and the ethereum alternatives ICO in April 2017. Srujana is a commerce student who’s passionate about finance, design, writing. Always looking forward to opportunities filled with learning and growth. At, she writes articles on Bitcoin, Ethereum and other cryptocurrencies.

Solana (SOL)

The token explorer is however very limited and not pulling through recent transfers, but as a note informs, the chain is still being indexed, so I hope this aspect will be improved over time. The address interface has everything you would expect to see, and identifies clearly between transactions, token transfers, contract calls, and so on, which is very useful and lacking in most other explorers. Every token has a profile, where you can check the ‘pulse’, which reveals the price as well as onchain ‘operations’ (transaction count). It’s very easy to see what has been coming in and out an address, and for each transaction you can check status (in real time), block height, gas stats, tx cost, etc. You can check pretty much anything, diving deep into mined blocks, transactions and addresses.

Avalanche offers a viable Alternative to Ether, making it a versatile choice for Blockchain enthusiasts. Avalanche is a promising platform that aims to revolutionise decentralised technology with its robust features and capabilities. Since its launch in 2020, Polkadot has climbed to become among the top-ten cryptocurrencies with over $40 billion in market cap and $14 million in 24-hour trading volume.

The Power of WalletConnect (Web3Modal) and Wagmi (Viem version)

In this guide, you will learn about five ethereum alternatives and competitors you can use instead. Before you begin, you’ll need to have MATIC on the Ethereum network in your Trust Wallet – in other words, MATIC as an ERC20 token. For your reference, you can own MATIC on a number of different networks including the Polygon (PoS) blockchain, the BNB Smart Chain, and the Ethereum blockchain. Now that we’ve navigated through the technological landscape of Solana, Cardano, and Polygon, it’s time to dive into interacting with these ecosystems.

ethereum alternatives

Work on the smart contract platform began back in 2015, and the developers’ stated goal is to create the most efficient blockchain based on scientific principles. Cardano is supposed to be more scalable, faster and cheaper than Ethereum. Ethereum has retained its position over all these stressful, competitive years. With a market cap of $324,016,723,844 USD, it is not easy to dethrone Ethereum from its position and with the upcoming release of Ethereum 2.0, this task has become much more difficult to attain. However, the above stated blockchain networks are not just competitors to Ethereum, but a few of them are partners of Ethereum to offer greater levels of compatibility.

Having started its life on Ethereum, in 2018 the EOS token migrated to its own mainnet called EOS.IO. Alchemy’s open-source Account Abstraction SDK makes it easy for developers to build with ERC-4337 compliant smart accounts. Compared to Ethereum, Solana charges very low fees—about $0.0001 per transaction compared to Ethereum’s average fee of $20. According to his bio on, he cried himself to sleep after “Blizzard removed the damage component from his beloved warlock’s Siphon Life spell” from his favorite game at the time, World of Warcraft.

  • However, overtaking the second-largest blockchain network in the world is hardly an easy task.
  • Unlike the EVM, where only one contract at a time modifies the blockchain state, Sealevel can process ten of thousands of contracts in parallel.
  • A very cool bit of infrastructure that can be examined and utilized from their GitHub.
  • The 20-day EMA for the LDO price currently stands at $1.927, marginally above the 50-day EMA of $1.780.

EOS protocol also eliminates transaction fees for applications on its blockchain. Ethereum is one of the foremost technologies powering many top blockchain projects. The EOS platform also provides fast transaction speeds and “a sub-second block latency rate.” On the EOS platform, you can build public, permissioned, permissionless, or private blockchain infrastructures. Note that EOS uses the Delegated Proof-of-Stake consensus mechanism.

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