2 cryptocurrencies that could match or even surpass Ethereum in 2022-2023

Ethereum (ETH 3.37%) is the second largest crypto-the world currency in terms of market value and is changing the way we do business. In fact, decentralized applications (dApps) on the blockchain help users do everything from managing their finances to collecting works of art. This popular cryptocurrency has increased by more than 500% in the past three years.

I am optimistic about the future of Ethereum. But two cryptocurrencies could actually outperform this cryptocurrency giant. I’m talking about smaller and younger players, Cardano (ADA 6.23%) and Avalanche (AVAX 0.00%). Here because…

1. Cardano

The main problems with Ethereum are its transaction speed and high costs. It is in the midst of an update intended to fix these issues. Read also: Is this undervalued cryptocurrency a more profitable asset than Solana (SOL) and Ethereum Classic (ETC)?. But Cardano is already faster and is about to get even faster.

But first, a little background on this cryptocurrency. One of the co-founders of Ethereum, Charles Hoskinson, is also the founder of Cardano. This means that there is a lot of experience and expertise behind this new player. Cardano has a native token called “ada” and is a blockchain.

This cryptocurrency hit a major milestone last fall with the launch of the smart contract feature. This means that dApps can be built on the blockchain. And this is a good sign: more and more money is being committed to these projects on Cardano. The total locked-in value has risen 14% since the beginning of the month to around $ 136.93 million, according to Defi Llama.

Now let’s get back to speed. Cardano software engineers are working on the hydra head scaling solution. Each head is an off-chain network that allows a transaction to occur. The idea is to increase the number of transactions on Cardano by making a large number of them on these heads. According to initial estimates, each garment processes 1,000 transactions per second. It is possible that hydra may start rolling out as early as this year.

2. Avalanche

Like Cardano, Avalanche has a native token – called Avax – and is a blockchain. Avalanche is also a winner when it comes to speed. Read also: That is why the prices of Solana, Cardano and Avalanche have increased today. Transactions on Avalanche are completed in less than two seconds. In comparison, it can take up to six minutes on Ethereum.

And while Ethereum processes around 14 transactions per second, Avalanche can process an unlimited number. This is possible thanks to the subnets of Avalanche, or independent networks. Developers can build them for specific projects.

The rest of the Avalanche facility also promotes speed and efficiency. Avalanche actually consists of three blockchains with different functions, such as creating assets, coordinating validators and managing smart contracts. The primary network coordinates the three blockchains and subnets.

Next, it is important to note that this blockchain is compatible with its big rival, Ethereum, which makes it easier for those building on Ethereum to build and operate on Avalanche. Developers can launch Ethereum dApps directly on Avalanche. They can easily transfer assets using the Avalanche Bridge.

There are currently more than 200 projects on Avalanche. They range from decentralized finance to games and art.

According to a report from Electric Capital, Avalanche is growing faster than Ethereum at the same time in its history when it comes to developers using the network. The growth in the number of developers using the network is a sign of strength.

Cardano, Avalanche and Ethereum

Cardano and Avalanche are winners in terms of speed and users. When it comes to equity performance, these players and Ethereum have all suffered lately. This might interest you: 2 cryptocurrencies to watch for to “buy the plunge” and make long-term profits. Since the beginning of the year, Cardano and Avalanche have lost 62% and 75% respectively. Ethereum is down 58%.

All three have what it takes to recover and occupy a prominent place in the cryptocurrency market. With the strengths I mentioned above, Cardano and Avalanche could outperform their big rival in the revival of the cryptocurrency market and beyond.

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Thomas E.
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