Top 3 Ethereum Killers For May 2022

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Last Updated May 26th 2022
5 Min Read

Are these top Ethereum killers your next millionaire-maker coins? Let’s see. 

Ethereum has always been the go-to DeFi crypto for several investors. But the network’s high gas fees and low scalability have forced investors to look for alternative options. This gave rise to ‘Ethereum killers,’ blockchains that can mitigate the flaws of ETH and offer alternate solutions. 

A few cryptocurrencies are already chasing Ethereum with a strong focus on scalability, transaction costs, and other relevant factors. Among the most epic rivalries in the market, here are the top 3 Ethereum killers for May 2022. 

  • Since its launch, SOL has experienced substantial adoption and settled more than 50 billion transactions. 
  • Achieving finality in under 3 seconds makes AVAX better suited for massively scaling decentralized applications. 
  • Fantom's network structure makes it one of the top blockchains in terms of security, scalability, and decentralization.

 

Solana (SOL)

Thanks to its innovative network fundamentals, Solana is one of the top 3 Ethereum killers for May 2022. 

The Solana blockchain network transacts at lightning speeds and charges less than a cent per transaction. The network comes with built-in support for smart contracts, with over 250 fully-functional projects running on-chain. The network has also initiated its plans to enter the booming NFT marketplace with Solanart. 

Unlike its rivals, Solana is a fourth-generation blockchain that employs a unique consensus mechanism known as the “Proof-of-History" to validate transactions, as opposed to Ethereum’s Proof-of-Work consensus model. PoH employs time stamping to speed up the process further. Solana also supports Sea level, which is a unique method for running concurrent smart contracts, making it a much faster blockchain than some of its competitors. Therefore, Solana's speed, and the scalable ecosystem, are the key reasons for labeling it as the top 'Ethereum Killer.'

Solana is one of the top cryptos to buy because large institutions such as JPMorgan and Bank of America have expressed their confidence in the crypto, stating that it could become the “Visa of the digital asset ecosystem.” It is also backed by top venture capital firms like Andreessen Horowitz. 

Furthermore, the launch of Solana Pay, a new, decentralized, peer-to-peer payment platform, adds another reason to buy SOL now for the future. By leveraging its blockchain, Solana Pay’s decentralized payment structure becomes extremely fast and provides scalability of 65,000 transactions per second (TPS), with a near-instantaneous settlement of 400 milliseconds and a meager fee of $0.00025 per transaction. 

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Crypto assets are a highly volatile unregulated investment product.

Avalanche (AVAX)

Thanks to Avalanche’s growing ecosystem, AVAX seems to be the top crypto to buy for May 2022. 

The next addition to our list of the top 3 Ethereum killers for May 2022 is Avalanche, which is a blazingly fast, low-cost, and eco-friendly network. Its layer one blockchain serves as a foundation for decentralized apps and customized blockchain networks. Avalanche supports a thriving DeFi ecosystem and other smart contract-driven capabilities. 

Avalanche has a worldwide distributed, interoperable, and trustless architecture that promises to combine scaling capabilities and quick confirmation times. Thanks to its Avalanche Consensus Protocol, the network can process 4,500 TPS (transactions per second). 

Its network has a unique architecture to ensure scalability. It consists of three individual blockchains, the X-Chain, C-Chain, and P-Chain, each with a distinct purpose, radically different from the approach Bitcoin and Ethereum use.

AVAX also boasts a thriving and growing DeFi ecosystem with some of the protocols from Ethereum, such as the lending protocol Aave and decentralized exchange protocol SushiSwap. 

Avalanche is one of the top 3 Ethereum killers for May 2022. The Avalanche Foundation has recently announced “Multiverse,” an up to $290 million incentive program to help develop subnets on its network. The incentive program aims to build scalable chains for supporting DeFi, NFTs, and blockchain gaming on the network. 

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Crypto assets are a highly volatile unregulated investment product.

Fantom (FTM)

With its cheap and fast transactions, Fantom is highly scalable and one of the top Ethereum killers for May 2022. 

Fantom is a scalable and customizable directed acyclic graph (DAG)-based smart contract platform that offers decentralized financial services (DeFi) to make advanced technologies more accessible and seamlessly integrated for a wider audience.

Moreover, Fantom was designed as a next-generation blockchain platform to address several limitations of existing blockchain platforms. The uniqueness of Fantom is that it creates a new blockchain each time a user wants to deploy a new project. 

By leveraging its FTM token, the network aims to solve the problems associated with existing smart contract platforms, such as transaction speed. Thanks to its bespoke aBFT consensus mechanism, the Lachesis, Fantom stands unique from any other cryptocurrencies in the market. It can tolerate up to one-third of participants engaging in faulty or malicious behavior without causing undue harm or hampering network processes, as network data can be processed at different times. 

Moreover, marking its presence in the booming non-fungible token sector, Fantom has a dedicated NFT marketplace and platform with 0% commission, called Artion, which is an advanced, no-code platform intended to bring more activities to the Fantom blockchain. With the use of this advanced platform, even inexperienced users could mint sophisticated NFTs. 

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Crypto assets are a highly volatile unregulated investment product.

The Bottomline 

Critics of cryptocurrency often suggest that crypto adoption is a revolution merely driven by monetary incentives. But, DeFi cryptos and altcoins are proving them wrong as cryptos aim to create an accessible global financial market. Furthermore, with the rising demand for new dApps and DeFi protocols, investors are looking for the right infrastructure to use to build the future of Web 3. Therefore here are the top 3 Ethereum killers for May 2022 worth keeping an eye on now. 

Read More:

How To Buy Solana (SOL)

The 5 Best Ways To Buy Avalanche (AVAX)

How To Invest In DeFi Coins

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Top 10 NFT Cryptos To Explode