TOP 5 blockchain alternatives to Ethereum and Solana: Fantom, Avalanche, Elrond, Tezos, TRON |DeFeed

Hello everyone! Welcome to the YouTube channel. I'm Victoria First of all, let's break the YouTube algorithm so that as many people as possible can watch the video ! Press "Subscribe", "Like" and then "Bell Icon"! With the recent boom in Solana, everyone has begun to talk about new Ethereum alternatives and "hitmen" . But this time it's Solana. It is one of the blockchains with fast transaction speed, low fees, and long-term outlook. And in today's video, we'll tell you about the top five networks with all these features. Take a look at the blockchain affiliated with the Central Bank of France, the blockchain affiliated with Samsung, and a project called "Clone of Ethereum". Are you ready? Let's begin. The fifth blockchain on the top is Fantom. Fantom is a highly scalable blockchain platform for DeFi, encrypted dApps, and enterprise applications. In essence, Fantom belongs to the blockchain generation, which solves the scalability problem of Ethereum . The project has been around since 2018 and the native project token FTM is currently in the Top 50 in Coinmarketcap's rating.

The platform uses the Lachesis consensus algorithm, which combines two algorithms, Proof of Stake (PoS) and aBFT. Fantom's network consists of three layers. Application layer. This layer is designed to run your application. Wear layer. This layer is used to execute smart contracts and various programs. And the core layer is the layer for performing transactions. The FantomOpera network is compatible with EthereumVirtualMachine (EVM) and is also integrated with the Cosmos SDK. The Fantom blockchain can be incorporated into other blockchains as a consensus module.

According to project representatives, the network can make up to 300,000 transactions per second. You can make up to 300,000 transactions. The total capital of this coin is $ 3.16 billion. The Fantom team is headed by Michael Kong, CEO of the Fantom Foundation, and is located in South Korea, where the project has gained community support. The designer of the DeFi project is André Cronier, one of the leading figures in the crypto community. Next is Avalanche. The smart contract execution platform Avalanche has been around since 2018, and the platform was launched a year ago on September 21, 2020 . Avalanche is designed and developed by Ava Labs. Developers can use Avalanche's capabilities to create public or private blockchains, select the programming language they need, and select specific Virtual Machines with which specific blockchains, including Ethereum EVM, interact. I can. Blockchain workflow and speed are ensured by the Snow protocol, which states that transaction durations should not exceed 2 seconds . Another important advantage of this protocol is its security.

Currently, Avalanche can handle up to 4.5 thousand transactions per second, but the team promised to raise this level to 20,000 in the near future and even higher after applying the second level solution. I am. The platform uses two consensus engines, AG Avalanche and Snowman. Avalanche consists of multiple blockchains, three of which make up the main network. ExchangeChain (X-Chain) is intended for the issuance and exchange of crypto assets, including AVAX, the native token of the Avalanche network. ContractChain (C-Chain) is compatible with Ethereum and is designed to interact with this network and execute smart contracts. PlatformChain (P-Chain) is for stacking and adjusting validators. C-Chain and P-Chain are connected by X-Chain.

The number of C-Chain addresses is 372,000. AVAX has a total capital of $ 16 billion. And at the moment, the number of wallets of X-Chain is 7.385 million addresses, which is quite large for a one-year project. Next up is Elrond. Elrond is a blockchain platform for smart contract execution, and the coin's IEO took place on the Binance exchange in mid-2019. The main purpose of this platform is to create high performance and secure decentralized applications (dApps) based on smart contracts. The platform creates a global digital economy by enabling blockchain interoperability. One of the core project starters is said to be Everstake. The high throughput of Elrond networks is achieved by using a special sharding method, Adaptive State Sharding, which ensures that the shard load does not exceed 50%.

The platform uses a SecureProofofStake (SPoS) consensus mechanism in which block verifiers are randomly selected. Elrond's testnet transaction speed has been announced to be 250,000 transactions per second, and today's Elrond network can handle up to 15,000 transactions per second, making it one of the highest performing blockchains. Currently, there are more than 784,000 wallets on the network. The total capital of this coin is $ 4.46 billion. Tezos. The Tezos blockchain platform ICO took place in 2017, raising a record $ 232 million.

The founders of the project are Arthur Breitman and Kathleen Breitman. After the success of the ICO, the project was in a difficult situation due to a business-to-business conflict between Mr. and Mrs. Breitman and Johann Gevers, the representative of the Tezos Foundation. As a result, Gevers resigned in February 2018, which led to some investors filing multiple proceedings against Tezos. As a result, it was in the fall of 2018 that the main network could be launched. Tezos uses a consensus algorithm called LiquidProofofStake. The new block is created by the stake, and the node owner of the Tezos network is called Baker. One of the cool features of the Tezos blockchain is that you can make money by staking native XTZ coins as well as node owners . You need 8000XTZ to create a node. Tezos has many partnerships with major European financial institutions such as CryptoFinanceAG and the Central Bank of France , and uses the Tezos blockchain to create cryptocurrencies . The Tezos code is written in the OCaml programming language. In early August, the Tezos network made an update called Granada, which lowered the transaction price on the network.

There are a total of 1.7 million wallets on the Tezos blockchain. And the total capital of cryptocurrencies is $ 4.98 billion, of which 76.6% is locked in stakes. And the first and earliest of this top is the Tron blockchain. The Tron project hosted an ICO for $ 70 million in 2017 and launched its own blockchain in 2018, making it one of the first Ethereum replacement projects. Stablecoin issuer USDT, Tether released the first coin in the chain in 2019. In 2020, a contract with Samsung added TRX coins to the Samsung blockchain wallet for Galaxy smartphones, which is a feature of this project. In terms of architecture, Tron is very similar to Ethereum and is therefore called an "Ethereum clone" . Due to the consensus algorithm, Tron's network is very fast and the fees are virtually zero. But at the same time, the level of decentralization of Tron is low. About $ 36 billion of USDT was issued on the TRON blockchain, which is more than this stablecoin issuance on the Ethereum blockchain. More recently, the Tron blockchain has welcomed the USDC coin, the second largest stablecoin in total capital.

According to Coinmarketcap, TRX has a total capital of $ 7 billion, TRON's DeFi sector has a total of about $ 10.6 billion locked, and the total number of wallets is over 54 million, which is quite huge. So far, we have introduced the top 5 fast, cheap and promising blockchains and the current rivals of Ethereum and Solana. What do you think of this Top 5 project, have you tried it, and what do you think is the most promising? Also, don't forget to subscribe to the channel by pressing "Like". See you next time!.

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