Ethereum Competitors: Best Platforms for Smart Contract

Ethereum is second most valuable or popular coin after Bitcoin. At the time of writing, current market cap of Ethereum is 21 billion at the rate of 211$ each. In january 2018 the price of each ETH hits 1380$.

In simple words Ethereum is

decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.

Mostly more than 70% of ICO’s are build on Ethereum blockchain and more than 80% of tokens with top market cap are based on Ethereum. Developer choose Ethereum for their DAPP’s or project. There are more than 1800 DAPPs are built on Ethereum. But still there are some problems which needs to fixed like when uses of ethereum networks grows, transactions became very slow and gas price increased. Some time it takes more than hours to get transaction confirmed.

To solve current problems Ethereum developer are preparing to implement sharding. Which may reduce current problems faced by Ethereum networks.

While Ethereum developer are working on sharding, some other smart contract platforms are trying to take place of Ethereum.

1. Waves

Waves is the smart contract creation platform for those who doesn’t have much or nil knowledge of coding or programming. They also offers their own DEX (Decentralized Exchange), where you can trade any coin listed on it. Even you can trade your newly minted coin/token.

Currently Waves is ranked 40th most valuable coin as per market cap.

Pros:

  1. Easy to create own token.
  2. Fiat trading (KYC required)
  3. Own DEX (trade new minted coins)
  4. Lease your waves (LPoS, lease your waves to waves node to get return on your Lease and help waves to make more strong)
  5.  Limited supply.

Cons:

  1. Spammed by scam ICO’s (ease of token creation spammed waves platform.)
  2. Not suitable for hardware wallets (trazor, ledger and nano)
2. NEO

NEO is called Chinese Ethereum. They are almost same as Ethereum but with positive features.  They both are providing decentralized network and smart contract platform without any third party interference. Their platform supports multiple coding languages not like ethereum they support only solidity language.

Neo don’t want that any one play with forks, their structure doesn’t allow anyone to make hard fork of NEO, but yes soft fork is possible. You are not allowed to mine NEO token holders are provided NEO gas. It is 14th ranked in coinmarketcap.

Pros:

  1. Usage of multiple programming language.
  2. No hard fork means no another useless fork.
  3. Neo supports Atomic Swaps.
  4. More transaction that Ethereum.

Cons:

  1. Hard to develop own coin in compare to Ethereum.
3. Qtum

If you are a developer and looking for developing DAPPs for mobile device then Qtum is for you. Qtum is the hybrid blockchain platform. Qtum is using bitcoin blockchain to improve them.  According to co-founder of Qtum, it proceed 70 transaction per second.

In coinmarketcap Qtum listed on 29th rank with the market cap of 50.7 BTC.

Pros:

  1. Using Pos (proof of stake).
  2. Using EVM and using bitcoin blockchain.
  3. 70 transaction per second

Cons:

  1. According to some sources, owner of Qtum involved in BitPay fraud of 200 BTC.
  2. Hard to work on smart contract.
4. Tron

Tron is called a decentralized internet.  TRX is much faster than Ethereum, 2000 transactions can proceed per second. The most positive thing for Tron is that their is no fees on transactions. Tron also supports Atomic Swap and has inbuilt DEX. The language used on Tron smart contract is Java.

Tron ranked 13th most valuable coin on coinmarketcap.

Pros:

  1. Investors like Bitmain, Weixing Chen (Uber competitor), Wei Dai (chinese bicycle company).
  2. Partners like Game.com, Gifto, Baofeng, Obike  and many others.
  3. Tron CEO launched Peiwo a social app for chinese community which has 10M users. CEO may add Tron..
  4. Moved to own coin from ERC20.

Cons:

  1. Total token supply 99 Billion.
  2. Not much uses of Tron.
5. EOS

EOS is the new in market but with huge attention. Just in few months of launch they ranked 5th on coinmarketcap. EOS is beyonds other smart contract platform. They mainly focus on Decentralized applications. People thinks EOS is the best competitor of Ethereum but still EOS has to do many things at ground level.

Pros:

  1. EOS claims they can proceed 6000 transaction per second.
  2. Team behind EOS is very well known for their contribution in crypto community.

Cons:

  1. It’s not easy to work on EOS as it is new in market.
  2. Not used by many people.

 

 

 

 

 

 

Leave a Reply