CARDANO or POLKADOT!? Who Is Ethereum Killer #1?

People want to use Ethereum… they want to
participate in the trading of cryptos. The minting, buying and trading of NFTs….but
many can’t as it’s high fees are not easing up one bit! Day after day, month after month…they have
been rising! What is a person to do? Well find out in about 10 minutes…because
it’s time for Chico Crypto! Ethereum gas fees…They were sitting around
20 gwei in June..but just a few months later, they have exploded by 600 percent. 6xing up to 120 gwei.If you don’t understand
gwei…

Let’s just look at that translated over into USD and the costs for different
DeFi actions on Ethereum. Swaps are between 100 to 180 dollars…supplying
liquidity is between 120 to over 300 dollars & removing liquidity is between 107 to 167
dollars. Now, unless you are making a trade in the
10s of thousands of dollars, or adding or removing huge amounts of liquidity…it’s
not worth it to transact on the mainnet of Ethereum… So what can be done about this? How can you still be involved with defi and
the crypto markets, without paying bookoo bucks on gas!? Well you really have 2 options..you can try
Ethereum layer 2 or you can use a separate chain! And that is exactly what we are going to cover
today. A production and user ready Ethereum Layer
2 and separate chains who are promoting themselves as EVM compatible…which is the best? Who is the most ready??? Soooo Ethereum Layer 2…production and user
ready..who could that be? Well of course it's Arbitrum and the Arbitrum
ONE rollup! Last week I predicted that the user mainnet
would be opened by the end of the month, and that was true as they opened the mainnet to
the public yesterday August 31st! And applications were ready to start being
utilized on the rollup.

The swapping and liquidity protocol, Balancer
announced they were live on Day 1 & switching over to Arbitrum on Balancer is as easy as
clicking the network in the top left corner, and choosing Arbitrum! But things will get even more interesting
for Ethereum layer 2… very soon! An @Litocoen on twitter tweeted “watch this
and tell me you’re not bullish on ETH. Polygon to Optimism in 2 minutes and $0.10
transaction costs. New users won’t even need to ever touch
Ethereum mainnet anymore! Arbitrum next…with a video of the HOP protocol,
allowing this transfer between L2s. This is BIG for the world of Ethereum L2s. As the gas fees for Ethereum on the L1 mainnet,
aren’t going down in the short term to mid term.

Now user’s won’t have to even deal with
them, being able to HOP from l2 to l2 in a cheap and efficient manner! But now let’s talk about the other chains! Not using Ethereum or a layer that is secured
by it. There are more than a few out there…but
we are going to talk about the one’s on the top of everyone’s mind. Cardano, Solana Polkadot & Avalanche!! Lets begin with Cardelayno as supposedly they
are not delaying any longer. In less than 2 weeks, September 12th..Smart
Contracts are coming!! The Alonzo hardfork will take place on the
mainnet, and people are getting really PUMPED up as they think Cardano is going to steal
a lot of thunder from Ethereum…. But in my opinion…this one is a buy the
rumor, sell the news!! People have already been buying the rumor…since
the beginning of August, the price has exploded from $1.31 cents to as of yesterday $2.79…just
a 112 percent rally in a month! There may be one more run up of the Cardano
price before September 12th…getting back close to the $3 dollar level, maybe a little
higher…but on the day, I believe Cardano will dump… As what’s getting launched, is not what
people expect!! People are expecting yes of course smart contracts
but Ethereum compatibility, and yes smart contracts are coming although in a brand new
language developers aren’t used to…or in a super basic form, but Ethereum compatibility…that
isn’t coming September 12th.

So what could be coming September 12th? Well according to the Cardano Plutus roadmap,
with the Alonzo hardfork, Plutus smart contracts will be implemented! Now as we can see from Cardano documentation
on Plutus it says “The Plutus Platform is the smart contract platform of the Cardano
blockchain. Plutus contracts consist of pieces that run
on the blockchain (on-chain code) and pieces that run on a user’s machine (off-chain
or client code). Both on-chain and off-chain code is written
in Haskell, and Plutus smart contracts are Haskell programs.

This means, you have to develop the contracts
with Haskell. Any Ethereum or smart contract developer,
isn’t going to rewrite all of their dapps smart contracts into an obscure language that
is extremely tough to learn. Haskell is a launguare, that isn’t only
for smart contracts and blockchain, like Solidity from Ethereum is. It’s used out in the normal programming
world. And as of 2020 it’s ranked last…dropping
in popularity each year since 2012! People don’t like developing with Haskell,
that isn’t any new news! And that’s even showing it’s face in the
Cardano forums. A person posted a thread titled “Understanding
Plutus: Forced to learn Haskell from scratch or wait for KEVM?” and they said “It is
very hard for them to follow the Plutus code.Unlike Solidity…and many people agree with the
poster. Plutus and Haskell is though to learn So don’t think for a second, Ethereum projects
are their developers will want to learn Haskell…they won’t! Although many people will say, what about
the erc20 converter!! That is going to allow ethereum projects to
convert over to Cardano…and it’s getting it’s launch too! Yeah, the ERC20 converter is coming to the
testnet next week!! It’s being launched for testing alongside
the Plutus smart contracts on the mainnet…but this isn’t a full on converter, that will
convert everything like many think.

This is just a bridge for tokens. Smart contracts are not going to be converted
through this. From a post on the Cardano subreddit about
erc20 converter usefulness and security…a person commented “Contracts aren’t converted. Contracts will need to be rewritten in Plutus
or executed on an EVM, which I believe Cardano is building as a sidechain” Soo, it’s most likely not going to see much
use…as many popular applications on Ethereum don't have plans to develop with Haskell,
thus there won’t be any well known DeFi applications ready to launch on Cardano where
you can use converted tokens!! Cardano needs EVM compatibility, which will
come in the form of a sidechain….and that isn’t going to be ready September 12th! But some other chains are ready to host Ethereum
dapps and beyond.

What about Polkadot, it’s canary network
Kusama and a certain parachain which we will get into in a second…but first the sponsor
for this video can too, Energi, and like always the full details of our agreement can be found
in the description! Yeah, Energi, has been building with Ethereum
compatibility in mind, since the beginning! They recently went live with their Energi
Bridge, currently supporting all the assets on Ethereum, with plans to include other chains
in the near future.

It’s super easy to use and will be a familiar
experience with the MetaMask integration…you can even use your same ETH wallet address The bridge is huge news for Energi and will
help accelerate the adoption of their DEX EnergiSwap, a familiar experience if you are
used to something like Uniswap. Users are already enjoying an unrivaled trading
experience thru Energi’s top-level customer support system, vast selection of token assets
and industry leading protection against scammers, hackers and other nefarious actors within
the space. Sure, other side chains like Polygon, BSC
and Avalanche can claim cheap fees and lightning fast transactions, but that’s old news… EneriSwap transactions cost less than a penny,
but they include additional benefits to the user these other projects are simply not equipped
to provide… Like 24 hour a day, 7 days a week customer
support for any issue. And most importantly, their industry leading
user protections like their in-house cybersecurity expert Energi Defense Team and Energi Bureau
of Investigations that actively protect user funds and monitor the Energi infrastructure.. Let’s face it… having a large marketcap
and heavy trading volume doesn’t mean a platform is secure… take a look at BSC which
regularly falls victim to flash loans and other attacks.

And more recently giants like Poly Network
just went through the largest hack in history stealing over $600 million dollars in tokens…
if Energi was faced with a hack like that of Poly Network they could freeze the attackers
assets within the 3.5 day withdrawal window, effectively disabling the scammers funds,
essentially eliminating the possibility of crime on Energi. No other blockchain. No other DEX can provide that level of customer
protection and peace of mind. To help you get ahead of the curve let’s
equip you with a quick walkthrough on how to get set up with Energi and how to make
a trade on EnergiSwap. First thing you need to do is add the Energi
Mainnet to your MetaMask… and this couldn’t be easier… click the link found in the description
and when the page opens, simply click the green Configure Now button…

Then confirm
in your MetaMask To bridge your funds to the Energi blockchain
we’ll use their newly launched Energi Bridge. Simply connect your MetaMask, while on the
Ethereum Mainnet, enter the amount of ETH, or other approved token you want to bridge,
click transfer, confirm in your MetaMask and then after a small wait your funds will be
ready to use. Now that we have some ETH on the Energi Mainnet
we can use the EnergiSwap DEX… and this will feel like using UniSwap minus the expensive
fees… simply choose the tokens you want to swap from the list of 180 tokens and growing…. Here we’re taking our newly bridged ETH
and picking up some NRG and will conduct our trade like normal. It’s that simple So users looking for a familiar DeFi experience…which
is safe and friendly…the Energi ecosystem and the EnergiSwap DEX as a solid pick. Word on the street is they will soon be launching
a juicing liquidity farming program… along with another innovation from the team… a
Decentralized Referral Program.

So if that peaks your interest…make sure
to stay tuned, all links for Energy are below!! Now back to Polkadot, Kusama, and a certain
parachain which is going to allow EVM compatibility on these networks…in a BIG way. It’s ready to go, and porting over contracts
to the parachain will be simple for Ethereum developers! Sooo let’s get right into it. Polkadot and Kusama were built for Ethereum
compatibility..unlike Cardano. Even as far back as October 2019..Gavin Wood,
the founder of Polkadot has tweeted about the synergies between the 2 and how they would
interporeate with each other One of the major pieces was called the Substrate EVM and the
blog post from Gavin said this about it “This is a Substrate SRML module that introduces
an Ethereum-compatible execution environment “natively” into Substrate. Essentially, this allows your Substrate chain
to host the vast majority of the Ethereum state transition function. Existing Solidity/EVM code can be deployed
into this environment.” Now since October of 2019.

This compatibility layer has been given an
official name. It’s now called Frontier and the documentation
is written and live…meaning this is ready to go! Who built Frontier!? Well of course Gavin, and the Polkadot team…but
also a certain Parachain. Moonbeam. June of 2020, they put out a blog…and in
it said “After we announced our project, Parity reached out to us to let us know about
Frontier, a project that they are working on to build upon the EVM pallet and provide
improved Substrate Ethereum support. We have agreed to join forces with Parity
and work together on the same repo rather than pursuing independent efforts” And shiznit’s about to get real regarding
deployment on Moonbeam. Donnie Big Bags tweeting about Sushi, getting
ready to deploy, with screen grabs of Sushi team members, confirming it’s going to happen
soon! But it’s not only Sushi…it’s a whole
heck of lot more!! Mr. Big Bags also tweeted “Next week the
team will begin announcing projects and bridges going live.These create liquidity pools and
force increased $MOVR demand.

Also 10% of supply reserved for liquidity
bootstrapping, incentivising #DeFi with liquidity rewards” And he provides the proof of the team saying
dapps and bridges are coming. Donnie projects bridges to ETH, BSC, Solana
and Polygon and the dapps projected include of course Sushi, but also Balancer, Karura,
and Dodo! So, all I have to say about this is…Cardano
will not be getting deployments like that. Moonriver, Kusama, and Polkadot, have been
building with the EVM in mind. And that’s the winning strategy. Cheers I’ll see you next time!.

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