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Freddy Zwanzger, the CEO of Blockdaemon, a platform built on the Ethereum ecosystem believes Ethereum will remain the leading altcoin in the crypto market even in years to come. Being a utility token, Zwanzger believes the smart contract platform in the ecosystem and other upcoming upgrades will boost the competitive edge of the blockchain.
Speaking earlier this week at the EthCC – Ethereum Community Conference, he said: “[Ethereum] will continue to lead the altcoin market. Obviously, because of the smart contract platform, which is not changing.”
Zwanzger’s Blockdaemon is a blockchain platform that offers infrastructure tooling and node operations for blockchain projects. Speaking about the layer-1 blockchains dubbed ‘Ethereum Killers,’ which have been trying to delist Ethereum as the leading blockchain, but failed, the blockchain employee said: “All these blockchains dubbed Ethereum killers have since failed in their attempts [to delist Ethereum as the leader], and I am still expecting them to fail.”
The Ethereum Killers
Blockchain projects like Cardano, Solana, Tezos, Polkadot, and others alike have been touted as Ethereum killers. Most of these projects are promoted for their faster transaction ability and lower fees, however, there are fewer developers active in their ecosystem with less emphasis on the concept of decentralization which is the core subject in the crypto community.
Up to date, none of these ‘Ethereum killers’ has moved close to displacing Ethereum from its rank behind the crypto flagship, Bitcoin. Currently, according to CoinMarketCap, the closest of them, Cardano is sitting in the eighth position, followed by Solana, in the ninth position. After these two, the next is Polkadot, which is ranked eleventh, and Tezos in the 37th position.
Freddy Zwanzger believes the Ethereum Merge coming up will further push the blockchain north in terms of the price and the technology. He highlighted the many good things in the blockchain like its friendly impact on the environment and some others which people considered beneficial. With the coming upgrades, Zwanzger also believes staking will be more and more attractive on the network.
The Ethereum Merge and Upgrades
The network merge is all about a transition from the proof-of-work consensus, which is considered energy-intensive to a more friendly consensus – proof-of-stake. The rollout of this upgrade is set to go live tentatively on September 19.
Even at the upgrade, the Blockdaemon CEO believes the network’s challenge will be its scalability. According to Blockchair, the PoW consensus allows the network to process up to 15 to 20 transactions in a second.
The only viable solution to the scalability issue of the blockchain is Sharding which gives the capacity to split the whole network into different portions for better performance.
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