Could one of these Ethereum killers dethrone it in 2025?

Since its inception, blockchain technology has brought several changes in the financial sector because it has applications in various industries, from accounting to supply chain management, real estate, and gambling. Blockchain-based transactions are private and safe, so investors have started to rely on them to complete processes. Ethereum is one of the blockchains that captured enterprises’ attention because it’s one of the most-established networks with a wide range of utilities. As expected, numerous crypto projects have been launched with the purpose of challenging its dominance in the sector. Ethereum might be a leader in the crypto space at the moment, but there has been some concern about its future performance because the platform has dealt with an increased outflow of ETH into other blockchains.

And while the launch and approval of ETH spot ETFs has initially triggered excitement in the sector, the move now faces a level of scrutiny because many believe that the assets don’t meet expectations. Ethereum holders are exploring the idea of adding other altcoins to their portfolios, even if according to the ETH price chart, the cryptocurrency is performing quite well.

In this context, it could be interesting to have a look at the Ethereum killers that try to challenge its status in the market, to determine if they really stand a chance.

Solana

Solana is the most talked-about Ethereum killer because it had a meteoric rise, and while it dealt with several issues during its existence, the developers made sure to improve all of them and enhance the network’s stability. Solana is labeled as a promising star among cryptocurrencies, and while its market capitalization is way smaller than that of the giant’s Bitcoin and Ethereum, it holds great growth potential. Solana could become the visa for digital assets due to its scalability properties and advantages in institutional adoption. Over the last couple of years, it has challenged Ethereum’s status countless times because it offers the same or better benefits in terms of non-fungible tokens and decentralized finance.

Solana relies on the proof-of-history mechanism to validate transactions, which is described as more reliable from the point of view of institutions like the Bank of America and JPMorgan. It also completes lightning-speed transactions and has lower fees than Ethereum, which could only benefit it in the long term.

Avalanche

Similarly to Solana, Avalanche also registered dramatic growth since its launch, even if it didn’t grab as many headlines as the most popular Ethereum killer. Avalanche has become famous in the sector because it’s the pioneer in the sector when it comes to ecosystems that focus on decentralized finance and scalability. Its supporters believe it has the potential to become one of the most notable projects in the crypto world because it focuses on innovation, transaction growth, and industry partnerships. AVAX, its native token, can be used to improve blockchain security, pay network fees, and act as a unit of account. Even if both Solana and Avalanche are scalable networks there are several differences between the two. Solana attracts more decentralized finance projects because it focuses on decentralized exchanges. Avalanche stands out for having the fastest time to finality, which is the time when a transaction is completed and, therefore, cannot be modified.

Tezos

Tezos might be a newer actor on the crypto scene, but it should definitely be taken into consideration as an altcoin that could challenge Ethereum’s dominance in the sector in the long run. It has smart contract capabilities and developers can create digital assets and decentralized applications on top of it. It differs from the other altcoins because it relies on a combination between the proof-of-stake and liquid proof-of-stake mechanisms.

The ecosystem is self-governed, so the holders get to decide what changes the network should undertake. Tezos has been behind several notorious projects in the fashion, music, art, and gaming sectors. The developers made efforts to create one of the most secure blockchains in the sector, which could only delight the crypto investors looking for an alternative cryptocurrency. Tezos promotes a community governance system that offers token holders the right to vote.

It’s added to the list of altcoins worth monitoring because it is making great efforts to capture market share in the NFT sector.

Cardano

Cardano is another ecosystem that could turn lucrative in the long term because it was developed with a strategy that focuses on improving its performance as it evolves into a more eco-conscious blockchain. It stands out because besides aiming to remain sustainable, it also strives to connect blockchains to improve interoperability in the sector. The Cardano Foundation, a consortium of software development and cryptography specialists, is behind the project, which could easily be seen in the multitude of utility cases it boasts. Cardano excels at offering improved security and scalability, so it’s no wonder it has been added to the Ethereum killers list.

Cardano has maintained its position as one of the most popular altcoins for several years, mainly because it counts on a more research-focused approach when it comes to network developments. The developers have a broad vision for the ecosystem because they want to use blockchain technology to force change in the sector and redistribute power. Cardano is well-known for partnering with organizations and governments worldwide to improve education and transparency.

Polkadot

Polkadot is also considered an Ethereum rival because it uses the proof-of-stake protocol and is faster than the second cryptocurrency by market capitalization. However, it’s not faster than Solana, so instead of considering it a direct competitor of Ethereum, it would be better to name it a rival of Solana. It features a multi-chain design, so it enables the coexistence of several chains on a single network. It also allows for interoperability because its infrastructure enables the connection of multiple blockchains. Networks can transfer information without affecting their security. Interoperability is vital for the advent of Web3, which relies on the trade of products, services, and currencies in a decentralized manner.

Last words

Several altcoins on the market could challenge Ethereum’s position as market leader at some point. However, for them to truly kill it, it would take quite a lot of resources and effort.