Avalanche (AVAX) vs Ethereum (ETH)
This section is a part of Avalanche Guide. In this section we are going to compare two blockchains - Avalanche (AVAX) vs Ethereum (ETH).
Introduction
This guide is meant to show you unbiased feature set comparison of blockchains in discussion. Below table shows you the comparison points between the two blockchains.
| Avalanche (AVAX) | Ethereum (ETH) |
| Avalanche project launched in 2020 and the mainnet was released in Sept. 2020. | Ethereum whitepaper was released in 2013 and the mainnet went live in 30th July 2015. |
| Avalanche has 720,000,000 tokens in supply and the current 70,000,000 are in circulation. | Ethereum has a $365,186,415,050 coins in Supply while 117,046,619 coins in circulation. |
| Avalanche has Proof of Stake based it's own modified consensus algorithm which makes use of traditional stake along with Nakamoto based stake as a part of algorithm. | Ethereum currently is making use of the Proof of Work as it's consensus algorithm but in near future it may likely to make use of the proof of stake consensus. |
| Avalanche allows smart contracts, dApps and migration of smart asset on it's chain. It is designed to be a marketplace for DeFi like applications on it's blockchain. | Ethereum supports the EVM through which various layers of the dApps, smart contracts and the DeFi applications can be deployed. |
| Avalanche allows making use of the existing virtual machines that includes - EVM, WASM and BTC and they can even create their own blockchains on the chain. | Ethereum allows the layer 2 solutions on it's EVM and also allow feature to create your own tokens or the chain on it's chain. |
| Avalanche can make use of the Solidity for creating it's smart contracts, NFT, DeFi and other smart assets. It also supports go, javascript as a side languages to use on it's chain. | Ethereum makes use of Solidity as it's base language. While there are libraries written in Python, Javascript, Go for developing dApps, smart contracts on EVM. |
| Avalanche has more than 10 million nodes which currently records the TPS of 11,000+ transactions per second. | Ethereum has 25 to 30 TPS per second which is currently one of the issues getting the ETH to scale in comparison to other chains. |
| Avalanche like Polkadot allows the public and private chains on it's chain as it was designed with financial markets in mind. | Ethereum does not have the parachain mechanism for distributing the transactions like Avalanche or Polkadot. |
| Avalanche chain makes use of Slash-Snowflake-Snowball-Avalanche consensus for it's governance model. This way 51% attacks can be handled in the network. | Ethereum suffered with the 51% attacks in 2020 and since then it has being tweaked to prevent and adjust to such attacks in near future. |
| Avalanche has a use case in financial networks, asset movement and transaction management suitable for payment gateway market. It's even suitable and preferred solution for financial DEFI and dApps. | Ethereum has an EVM which makes it's use case from currency to the NFT, Digital asset, dApps, DEFI and other extended solutions. |
Avalanche (AVAX) OR Ethereum (ETH)?
Avalanche was designed with the financial industry and the asset market in mind. Like Polkadot it has means to take care of the sidechains while not compromising the speed and the security of the transactions.
ETH on the other hand appears like super computers that has a capability to address different solutions to the problems in the crypto industry. Only limiting factor being ETH is slower than the Avalanche network.
For the asset developers, financial market and the DEFI solutions the Avalanche network seems to be offering better solution with faster and secure network. Meanwhile Eth continues it's journey with NFT, dApps and other consumer centric solutions.
Posted Using LeoFinance Beta
