Why Ethereum killers are killing themselves
Ethereum killers are killing themselves!
ChatGPT described the Ethereum killer as:
Ethereum killers refer to other blockchain projects that aim to surpass Ethereum in terms of features and adoption. While there have been many projects that have attempted to do so, Ethereum remains one of the most widely used and well-established blockchain platforms. Additionally, Ethereum is continuously evolving and implementing new upgrades to its network, making it difficult for other projects to truly "kill" it. However, it is important to note that the crypto and blockchain space is highly competitive and constantly evolving, so it's possible for new projects to gain traction and potentially challenge Ethereum's dominance in the future.
But they missed several points.
When those killers market themselves are better choices, they forget the on-dock experience that allows developers to transit from one blockchain to another.
There is no way you can ask developers to abandon their existing projects and choose your blockchain with no reason simply it is faster, cheaper, and low fees.
Of course, multi-chain is one way to connect with other blockchains, but it still needs to have security without the chain to be hacked.
It is simply to risky to transfer from one chain to another.
Another factor is scalability.
It is too overrated. With the faster scalability, you are likely to die fast too.
There is no way to build a community with speed and hope people will stay there to root for you.
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Always cracks me up how many Ethereum killers there are and then fail and crash and burn. I'm starting to get a feeling that most blockchains are now wanting to help each other instead of being direct competition and that says a lot about the industry lately in terms of growth.
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I'm forever grateful to Vitalik and the Ethereum team for their invention, but because they were the original pioneers of smart contract technology, several competitors got a head start with Proof of Stake, sharding, beacon chains, etc. I wouldn't be surprised to see Ethereum losing total market share to its dozens of competitors, which have solid communities and very smart developers.