In a recent\u00a0video\u00a0for his very popular\u00a0YouTube channel, popular New Zealand-based crypto analyst and influencer Lark Davis (@TheCryptoLark\u00a0on Twitter) talked\u00a0about five major blockchains that could take market share from Ethereum. <\/p>\n
Davis made his comments in a video he released on April 14. Davis prefaced the video by calling himself a \u201cmassive\u201d Ethereum supporter but noted the rising popularity of decentralized finance (DeFi) and non-fungible tokens (NFTs) was creating stiff competition:<\/p>\n
\u201cI\u2019m a massive Ethereum bull, and I believe that Ethereum can and will deliver on its promises to scale. But until that happens, I think there is an incredible investment opportunity with other smart-contract platforms, and of course you guys know that I believe in the \u2018one network, many chains theory.\u2019 That is what is the reality of what is actually being built out right now.<\/em><\/em>\u201c<\/p>\n Below are some highlights from his comments about these competitors (Binance Smart Chain, Polkadot, Cardano, Terra, and Solana).<\/p>\n Binance Smart Chain (BSC)<\/strong><\/p>\n \u201cThe first and the most obvious (at this point) blockchain, which has already managed to capture market share from Ethereum, is the Binance Smart Chain, and well yes, it does leave a lot to be desired in terms of its centralization issues, it still managed to capture 15% of the DeFi total value locked in just the last few months. No other blockchain at any point has managed to capture such a large market share from Ethereum, and you can see why: the fees are dirt cheap, there are loads of applications to use over on BSC (PancakeSwap), it\u2019s fast, it\u2019s simple, it\u2019s a pleasure to use, it\u2019s offering a good experience for users.<\/em>\u201c<\/p>\n Polkadot <\/strong><\/p>\n \u201cThe total ecosystem for Polkadot \u2014 what\u2019s being built is incredible. I\u2019ve never seen such a level of excitement from developers and from investors to build on a blockchain which has not even fully yet launched its network capabilities. There are probably right now around \u2013 I would say \u2013 approximately 200 different projects building on or saying they\u2019re integrating with Polkadot.<\/em>\u201c<\/p>\n