What Are The Most Popular Alternatives To The Ethereum Blockchain?
The Ethereum blockchain skyrocketed to mainstream popularity thanks to the recent boost in news coverage of non-fungible tokens (NFTs). ETH is the most used cryptocurrency for virtual assets, further improving the standing of the blockchain network compared to its peers.
The thing is, more and more people are wanting to see what NFTs are all about. The number of people joining the scene continues to grow and they can’t be all on the Ethereum blockchain. Other networks support NFTs, giving creators, buyers, and owners other options. Check out some of the most popular blockchain networks that support NFTs to use as a substitute to Ethereum.
Cardano is one of the strongest alternatives to Ethereum because it was co-created by ETH co-founder Charles Hoskinson. The team behind Cardano did extensive research on blockchain technology, cryptocurrency, and other related topics.
As a result, they were able to beat Ethereum to the proof-of-stake model, which gives cryptocurrency holders the ability to create coins and validate them. The company also prides itself on its use of a programming language that enables the network to be evidence-based, secure, and stable.
Cardano operates with the currency ADA and is set to launch a decentralized NFT marketplace called Verlux.
Solana comes next as a good alternative to the Ethereum Blockchain because of its speed. It is reputed to handle over 50K transactions per second, which is a whole lot better than Ethereum’s 20 per second. To be fair, Ethereum is saturated with NFT transactions right now and this is why alternatives like Solana are an attractive option.
Operating with the currency SOL, Solana has launched its own NFT marketplace called Solible where users can trade items using various cryptocurrencies. The main pull of this new platform is it allows buyers to get a physical copy of the NFT certificate, giving it a unique twist.
Operating with the DOT currency, Polkadot is another proof-of-stake option that is geared toward use with other blockchains. It allows networks to cooperate through the relay chain. It was created by another of the co-founder of Ethereum, Gavin Wood.
Polkadot takes blockchain to the next level by letting users create their own blockchain with minimal hassle. With Ethereum, you can create a blockchain, but you need to create your own security protocols. Polkadot has security measures in place that eliminates the need to create your own.
While Polkadot is a developer’s wonderland, it is also starting to delve into NFT. It has several marketplaces such as Polkally where users can trade, buy, and sell on different blockchains, and KodaDot where ETH is the preferred currency.
Algorand, associated with the currency ALGO, is dedicated to building a borderless economy and making the blockchain and DApps globally accessible. Algorand was founded in 2017 by MIT faculty Silvio Micali, a master of cryptography.
Algorand also prides itself on being a carbon-neutral company, working to combat the impact Ethereum has on the economy. The Algorand ecosystem is focused on community and shared vision.
The NFT market continues to boom and Ethereum is not the only one benefiting from it. Other blockchain networks are making other currencies available for trading, buying, and selling.
Artizyou is working to make NFTs more accessible, and offering exclusive promotions to counter the gas fee for creators. If you are looking for an alternative to NFT, you should check out Artizyou’s non-fungible certificates (NFCs), which gives you the authority on how you can use your digital asset virtually and in the real world.