Avalanche - Truely an Ethereum Killer?
Ethereum, along with Bitcoin, is one of the world's largest blockchains. Currently, it is considered the largest blockchain that is focused on smart contracts. Ethereum has a significant number of projects that have been built on it, and more to come in the future.
While the Ethereum blockchain has a lot of bells and whistles, it is not perfect. In fact, the Ethereum blockchain has a big problem - slower transaction speeds compared to the competition, higher transaction cost compared to the competition, and before its transition to a Proof-of-State mechanism, Ethereum was not eco-friendly.
Most developers who took a close look at the Ethereum blockchain and saw its flaws decided to give Ethereum a run for its money by making a better version of Ethereum with faster and cheaper transaction fees. These projects are now called "Ethereum Killers" because they compete with Ethereum.
There are a lot of Ethereum killers today, but let's closely examine one of them: The Avalanche Blockchain.
Does Avalanche outperform Ethereum?
In reality, the term "Ethereum killer" may have been appropriate at the start of the crypto revolution and development, but Ethereum as a blockchain has been growing steadily thanks to the large number of developers that most blockchains, including Ethereum, have. Regardless, is Avalanche still killing it?
Before date, the Ethereum blockchain was only able to process 15 to 25 transactions per second while Avalanche could handle a massive 4,500 transactions per second, which is a whopping 17,900% more transactions. However, thanks to the Ethereum merge and its transition from the Proof-of-Work to Proof-of-Stake consensus mechanism, Ethereum is now killing its killers with a 2,100%+ leap in transaction bandwidth and now able to perform up to a 100,000 transactions per second.
What about on the value front? In addition to the usual fees for transactions (mostly demanded by exchanges), the Ethereum blockchain is known for charging an extra fee called the "gas fee." This is not applicable to the Avalanche blockchain as they demand a zero-gas fee. Did the merger and the transition to Proof-of-Stake change anything? Funny enough, the answer is NO, (though seems to have reduced some fees but not to a very significant amount).
The Ethereum blockchain is still keeping the gas fee even when no gas is being expended. The argument here is that the gas fees will be channeled to stakers for lending their Ether (ETH) to the blockchain Source. So, the merger and the transition to PoS did very little or nothing to transaction costs associated with the Ethereum blockchain, so Avalanche still trumps in this case.
Final Words
It is basically a draw if it was a blockchain battle, but a win for users/individuals that choose the Avalanche blockchain (that is if they have all a user needs) as most people may not really feel the sluggishness of the Avalanche blockchain over Ethereum's new speed, but we all will definitely feel the itch of gas fees in our wallets.
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