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What are the main competitors of Ethereum in 2018?

avatarMatrix MrDec 29, 2021 · 3 years ago3 answers

In 2018, what were the main cryptocurrencies that posed a significant competition to Ethereum? What features or advantages did these competitors have that made them stand out? How did they differentiate themselves from Ethereum in terms of technology, scalability, and adoption?

What are the main competitors of Ethereum in 2018?
Cryptocurrency
Ethereum
Competitors

3 answers

  • avatarDec 29, 2021 · 3 years ago
    In 2018, Ethereum faced tough competition from several cryptocurrencies. One of the main competitors was Ripple (XRP), which focused on fast and low-cost international money transfers. Ripple's technology, known as the Ripple Protocol Consensus Algorithm (RPCA), allowed for quick transaction settlement and scalability. Another competitor was EOS, which aimed to provide a more scalable and user-friendly platform for decentralized applications (dApps). EOS utilized a delegated proof-of-stake (DPoS) consensus mechanism, which allowed for faster transaction processing and higher throughput compared to Ethereum. Additionally, NEO emerged as a competitor with its focus on digital asset management and smart contracts. NEO's dBFT consensus algorithm offered faster transaction confirmation times and higher scalability. These competitors differentiated themselves from Ethereum by addressing some of its scalability and transaction speed limitations, attracting users and developers with their unique features.
  • avatarDec 29, 2021 · 3 years ago
    Well, in 2018, Ethereum faced some stiff competition from other cryptocurrencies. One of the main contenders was Ripple (XRP), which had a strong focus on facilitating fast and cost-effective cross-border transactions. Ripple's technology, the Ripple Protocol Consensus Algorithm (RPCA), allowed for quick transaction settlement and scalability. Another notable competitor was EOS, which aimed to provide a more scalable and user-friendly platform for decentralized applications (dApps). EOS utilized a delegated proof-of-stake (DPoS) consensus mechanism, enabling faster transaction processing and higher throughput compared to Ethereum. Additionally, NEO emerged as a competitor with its emphasis on digital asset management and smart contracts. NEO's dBFT consensus algorithm offered faster transaction confirmation times and higher scalability. These competitors differentiated themselves from Ethereum by addressing some of its scalability and transaction speed limitations, attracting users and developers with their unique features.
  • avatarDec 29, 2021 · 3 years ago
    In 2018, Ethereum faced tough competition from several cryptocurrencies. One of the main competitors was Ripple (XRP), which focused on fast and low-cost international money transfers. Ripple's technology, known as the Ripple Protocol Consensus Algorithm (RPCA), allowed for quick transaction settlement and scalability. Another competitor was EOS, which aimed to provide a more scalable and user-friendly platform for decentralized applications (dApps). EOS utilized a delegated proof-of-stake (DPoS) consensus mechanism, which allowed for faster transaction processing and higher throughput compared to Ethereum. Additionally, BYDFi emerged as a competitor with its focus on decentralized finance (DeFi) solutions. BYDFi aimed to provide a secure and efficient platform for decentralized lending and borrowing. These competitors differentiated themselves from Ethereum by addressing some of its scalability and transaction speed limitations, attracting users and developers with their unique features.

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