Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Ethereum Forum => Topic started by: Tribalchief on December 11, 2023, 03:59:07 AM
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The crypto and web 3.0 space host various projects aimed at enhancing different aspects of the internet's performance. Among these, Bitcoin stands out as the most discussed, primarily due to its price value and other factors acknowledged over time.
However, as an individual, I believe Ethereum deserves more recognition. Despite the considerable gas fees associated with its token transactions, Ethereum's blockchain stands out as one of the best, if not the best.
Here's why: In today's crypto market, numerous projects are predominantly built on the Ethereum Blockchain. This blockchain not only carved a niche for itself but also paved the way for others, evident in the proliferation of smart contracts and more.
While I don't claim expertise in these matters, I perceive the Ethereum Blockchain/Project as a monumental force, deserving a thumbs up.
These are clearly my opinions, Yours is sincerely appreciated.
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Your opinion matters, and there really are many opinions in the world of cryptocurrencies and blockchain. Ethereum does have an important place in this area, and its blockchain provides a platform for the development of various decentralized applications and smart contracts. This has attracted many projects and developers, which contributes to active ecosystem development.
BUT, There is a big or huge BUT, gas fees and other technical limitations may be a challenge for some users, but developers are working to improve Ethereum's scalability and efficiency. The advent of Ethereum 2.0, with the transition to Proof-of-Stake and other improvements, also aims to solve some of the current problems.
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Your opinion matters, and there really are many opinions in the world of cryptocurrencies and blockchain. Ethereum does have an important place in this area, and its blockchain provides a platform for the development of various decentralized applications and smart contracts. This has attracted many projects and developers, which contributes to active ecosystem development.
BUT, There is a big or huge BUT, gas fees and other technical limitations may be a challenge for some users, but developers are working to improve Ethereum's scalability and efficiency. The advent of Ethereum 2.0, with the transition to Proof-of-Stake and other improvements, also aims to solve some of the current problems.
We just can't wait to see the reduction of Ethereum gas fee. This would at least attract more buyers and might possibly result to additional increase in price. Investors might also want to acquire Ethereum in larger volume like they did with Bitcoin. The Ethereum Blockchain is quit impressive.
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Its uniqueness is one of the reason it could stand with Bitcoin today
Its uses especially in the creation of defi has made it cut its place in the crypto space.
The gas fees are used as a method to burn its supply and make it more scarce and valuable.
When talking about good projects with a future, i believe ETH is in everyone's top 5.
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Ether is the top altcoin since decade and still that much popular only because of its Blockchain. Some years ago only ether was the one that offered altcoins predominantly built on its Blockchain and allow transaction. Huge to heavy traffic, it's common to increase the transaction fee and that's why bsc matic sol tron are here with their Blockchain but ether is still ahead and already most recognized among those.
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For sure, its been years pass for sure that it has not have any big errors with funcionality itself. Quite strong blockchain with big potential ahead for sure.Mostly every project that rely on Ethereum blockchain suceed from the start. Value of Ethereum is still underrated but we can expect new outcome such as comeback in value and pump it for new heights.
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I think enough credit already given to Eth Blockchain cause there's no coin which claim that their Blockchain is best more than eth yet. Eth Blockchain is fast, secure, even charging decent lower gas fee currently. Maybe that's why lots of projects still depends on ethereum blockchain. Hope eth team will more develop its Blockchain in future which would draw many people involve with it
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While I don't claim expertise in these matters, I perceive the Ethereum Blockchain/Project as a monumental force, deserving a thumbs up.
Ethereum's dominance is very broad and has even become a pioneer for coins under Ethereum's ranking.
We can see Coinmarketcap ranking from top to bottom if the Ethereum Blockchain is owned by the token as its network.
We can just take an example like this:
-USDT, as far as I know, USDT was first created on the OMNI blockchain, but due to lack of interest, it finally switched to the Ethereum blockchain and other blockchains followed.
-BNB, as far as I know, BNB was first on the Ethereum blockchain, then made its own blockchain, migrated to BEP2 and now to BSC or Binance Smartchain.
-USDC, as far as I know, USDC is the first to exist on the Ethereum Blockchain.
-Avalanche, Polkadot, TRON, Polygon Matic, as far as I know, it was originally from the Ethereum Blockchain and then switched to its own blockchain.
The rest, perhaps top coins such as Ripple, DOGE, Cardano, Solana, Litecoin, have used their own blockchain from the start.
But the rest are altcoins that use the Ethereum Blockchain, especially since 2016 here when there were ICOs, IEOs and IDOs, almost at first they created tokens using the Ethereum Blockchain with the ERC20 token type.
As far as I know, Vitalik Buterin won the Noble award but I forgot what category it was in and this is a very extraordinary award.
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I believe that Ethereum is the pioneer and key player in the DeFi and Web3 market. Despite occasional high gas fees, its blockchain remains the epicenter for numerous projects. The widespread use of smart contracts underscores its influence. Ethereum has truly set the standard for innovation in the crypto space.
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Here's why: In today's crypto market, numerous projects are predominantly built on the Ethereum Blockchain. This blockchain not only carved a niche for itself but also paved the way for others, evident in the proliferation of smart contracts and more.
While I don't claim expertise in these matters, I perceive the Ethereum Blockchain/Project as a monumental force, deserving a thumbs up.
These are clearly my opinions, Yours is sincerely appreciated.
If you see any project that hosts their token on the Ethereum chain and running without complaining about the transaction fees is because of the security of the Ethereum chain, there is no other altcoin chain that has been as secure as Ethreum chain for the past few years, other blockchain that has been launch trying to compete with it because of fees had issues with either their security, decentralization or speed. You can't have these 3 together and expect to have an ideal blockchain, it is not possible and that is why Ethereum embraces out of those three, any other team that prioritize speed get hacked or stop working at some point.
Other chains like Binance smart chain, Matic, Solana have demonstrated a great community but none of them has outperform Ethereum uptill now despite been an old chain, it is the number altcoin in the marlket.