Why do few projects launch on Ethereum blockchain ?

[LogitechMouse]

Re: Why do few projects launch on Ethereum blockchain ?

There's no hype around the project that's why.

Nowadays, we are in an era around crypto where hype is everything. Just look at TON when they got hyped. Many projects have been created around TON blockchain. Same with Solana, and soon same with BSC. As for Ethereum, there isn't any hype around it at all. Looks like the marketing department of the project needs to step up so that the project creates a hype.

Well, the good thing though is that, despite Ethereum not having any hype at all, in terms of DeFi projects, and TVL, it's still on the top, and the difference is A LOT, so I guess Ethereum doesn't need the hype at all because they're excelling in other factors.

[Jating]

Re: Why do few projects launch on Ethereum blockchain ?

There's no hype around the project that's why.

Nowadays, we are in an era around crypto where hype is everything. Just look at TON when they got hyped. Many projects have been created around TON blockchain. Same with Solana, and soon same with BSC. As for Ethereum, there isn't any hype around it at all. Looks like the marketing department of the project needs to step up so that the project creates a hype.

Well, the good thing though is that, despite Ethereum not having any hype at all, in terms of DeFi projects, and TVL, it's still on the top, and the difference is A LOT, so I guess Ethereum doesn't need the hype at all because they're excelling in other factors.

There is no hype because it's expensive to run on Ethereum network. Gas fees are high and projects tend to stay away as they are just in the beginning and probably don't have the capital for a startup and needed investors to fuel. And so with that, projects then to gravitate on other network like BSC and Solana because they are quite attractive and the network are not that clogged and they can easily deploy without thinking that speed are going to be a big issue because that's one area that any projects doesn't want to go.

[Hamza2424]

You can say that there was a time on TON when hundreds of telegram games projects were launched, but where is TON now in ecosystem development and TVL?

I think they nearly reached $1 billion total locked value but dropped massively after that. As of now, they're hovering around $170 million, which is a minuscule number compared to the total locked value of the whole crypto market[1]. They need more than airdrops and meme tokens to encourage people to lock their wealth on-chain.

[1] https://defillama.com/chain/TON

Brother, why would people mind locking their wealth on Ton There are many other stronger options, there's no attractive feature from the TON blockchain to make people stick to their chain.

Airdrops was a hype bubble and even on their distribution timeline, Blochain failed to perform while distribution of worthless tokens, only few good projects I can recall is Not and Dogs.

[debra]

The main reason is of course because basically the network on Ethereum is already like the hype period has been left behind. Now what is popular is Solana, right? So, this will not be like the old one anymore. For various reasons, especially with the small fees for transactions, and the hype of Solana, there are many new projects launched on the Solana network. And this is not a new thing when various new projects finally flock to move to a new blockchain that is more hype, because it will also be easier to be popular, network more communities, and can also be easier to reap profits for developers and teams.

[KryptoBull]

Over the past year, hundreds of projects have launched on various blockchains with Solana been the most popular one but i noticed only few projects have launched on Ethereum and i’ve been wondering what the reason could be.

Surprisingly, more projects are launching on BSC lately which is great because to me it has always seemed like a “standalone” blockchain. I noticed the same with Sui, it seems these blockchains have a lot more to show this year.

What exactly brought this up was when i saw this project Stakestone was set to launch on Ethereum and i realized only few launches have occurred on the blockchain. In your opinion, what do you think could be the reason.

Eth's fees are higher than other platforms like Bnb and Sol, and its ecosystem is already very diverse, so there aren't as many opportunities for new projects anymore. Meanwhile, Bnb and Sol still offer opportunities for many new projects, and they also support memecoins, which is why we have millions of memecoins in the market.

Additionally, the success of Layer 2 solutions like Arb, Op, and Base has clearly reduced the demand for Eth. Users want to explore new ecosystems with more investment opportunities, lower fees, faster speeds, and a similar level of security to Eth.

[Stompix]

ETH is still a big giant in DeFi, the entire market is under uncertainty ETH is been underperforming for quite a long time, but we cant neglect the facts still about the ETH, Maybe someday any other Blockchain can flip with ETH in position but for now it's the lone wolf.

That's how much ETH is locked in sidechains not how much goes on the ETh chain for defi. There is no metric for that since locked coins are also part of staking, not exchange. Either way, even that is dying, I mean, seriously, there are 6% locked in BTC, which isn't even designed for this.

[philipma1957]

The main reason is of course because basically the network on Ethereum is already like the hype period has been left behind. Now what is popular is Solana, right? So, this will not be like the old one anymore. For various reasons, especially with the small fees for transactions, and the hype of Solana, there are many new projects launched on the Solana network. And this is not a new thing when various new projects finally flock to move to a new blockchain that is more hype, because it will also be easier to be popular, network more communities, and can also be easier to reap profits for developers and teams.

Solana lock in on your trezor get 7.12% and you can unlock in under a week.

much better than anything offered by eth.

and 1 solana = 120
1 eth = 1800

so people rather do a few solana that are easy to unlock.

then 1 eth that is slow to unlock

eth has become much like a brontosaur  due to (pos) instead of being a t-rex  when it was (pow)

[TomPluz]

...founders are no longer fixated on Ethereum as the only game in town. It's about the narrative people want to follow, not about technology anymore. Ethereum's story is too mature, too sluggish, too cautious right now, but yet essential

Ethereum can be liken to an old hotel which pioneered the scene and had been the center of the town for decades...but when modern times come the excitement has gone to new locations. The old hotel still has the charm and is still getting some business but has already been overtaken by competitors. Yes, new players are offering better options and they all come at a reasonable price and their transaction fees are so affordable too. Now, Ethereum can still change this perspective and narrative if it wants to...but I don't know why people working for Vitalik Buterin seem be blinded by things happening in the market or maybe they are just burying their faces on the ground. I still love Ethereum but we could not anymore hide the truths...it is not what it was years ago and is not anymore the leader we want it to be.

[Azharul]

There are still other crypto projects that are new here in this crypto space. That's probably why one of the main reasons why they don't choose the network under
ERC20 is the high or far gap in gas fees, if we compare it to other onchain networks.

What is the cheapest thing nowadays for you to make coins either if it's crypto or meme coins, right? We all know that the cheapest is always under the Solana network
and we've witnessed and seen that until now.

We know that ethereum is also the best profitable crypto in cryptocurrency world. I think that gradually ethereum price and popularity will increase in cryptocurrency world. But if we follow in cryptocurrency market, we can see that few project launch in ethereum.

I think that some reason is responsible for this issues. I think the increase gas fee which will be main reason. We also know that increase solana popularity, cheaper BSC network is also responsible for this issue. But i think that within a shot time ethereum can be reach best position in cryptocurrency world.

[Stuart]

ETH having a major problem of high transaction fee due to low TPS (Transactions Per Second) and congestions during peak time is a tie down on the ETH network and because of these challenges, BSC and SOL, with some others has made finding on fixing this with low transaction fees and reducing handling more transactions faster, keeping the competitiveness of the projects attractive to crypto users. Every investor is looking for a project to invest that will yield good profit in a favourable short period of time, and because ETH has some slow movements in price, other coins may want to take its place for quick profit taking when the market is on a green move.

[Vx1]

The rapid development of cryptocurrency has grown many Blockchains to date, the competition between these Blockchains is also very tight. Every new crypto project Wants to get maximum profit from the development of the project, they have chosen which Blockchain will bring great benefits. And here Ethereum loses to the others, especially the problem of transaction costs. Ethereum is still the most expensive!

[r_victory]

I believe it is due to the value of the fees and even the speed of other blockchains. I don't think it is due to the technology, since the Ethereum blockchain still offers good opportunities for acceptance and development. Ethereum remains at the top of the most used, and perhaps we can say it is still the preferred choice for developers. Improvements will come!