Crypto Frontline

 The EthereumAlternatives, and Why You Should Care About Them

 The EthereumAlternatives, and Why You Should Care About Them

 The EthereumAlternatives, and Why You Should Care About Them
December 20
16:36 2017

Around $160 million worth of Ether was frozen on the last week of November, and many are now looking into Ethereum alternatives.

The Parity wallet suffered a hack, and there was nothing much that the Ethereum network could do to renew access to the frozen funds. The problem has caused much distress within the Ethereum community, according to Parity.

The problem started with CryptoKitties, a game built on the Ethereumblockchain. CryptoKitties is a simple game that involves collecting, breeding, and selling virtual cats. The game has become widely popular and has been involved in transactions that now amount to $17 million dollars.

Transactions are done with Ether, and these caused unprocessed transactions on the blockchain to jump six times. This problem exposed an issue with scaling that has been ignored and remains unsolved.

This unfortunate event gave way for Ethereum alternatives to get the public’s attention. In fact, these alternatives boast advantages and solutions to some problems with Etherium.

QTUM is an alternative that has both the reliability of Bitcoin’s never-failing block-chain and the infinite possibilities offered by smart contracts. It is considered as the leader in giving Ethereum a worthy competition or to even replace it completely.

QTUM claims to make it easier for sectors and institutions to use blockchain technology. Users can create their own tokens and can enter into self-executing contracts in a stable and standardized environment that is verified and tested.

Anthony Di Iorio, the founder of Ethereum, and Roger Ver, called World’s First Major Investor in Bitcoin Startups, praised QTUM. They said that it has the best team outside of China and Asia, and they called it a project that is worth keeping an eye on.

NEO is often referred to as the “Ethereum of China.” One of NEO’s key features is the use of validated digital identity to allow registration, trade, and circulation of different assets. Another reason for NEO to be considered as one of Ethereum’s worthy competitors is that it supports code bases such as C#, VB.Net, F#, Java, and Kotlin.

Another alternative to Etherium is ARDOR. This platform uses PoS or Proof-of-Stake which Ethereum has just recently considered switching over to.

IOTA is another alternative that boasts a built-in scalability feature, t the lack of which caused Ethereum’s problem that gave the spotlight to Ethereum alternatives.