Cryptocurrency Experts Consider BSC And SOL Good Competitors To Ethereum (ETH)

Digital asset experts have pitched in for the 2nd spot as BSC and SOL adoption continues to grow, whereas ETH issues persist. Kain, the creator of Synthetix and managing associate at Multicoin Capital with Kyle, have expressed their opinion regarding the contest against Ethereum.

The pair talked about the potential blockchains that can overtake Ethereum—naming Binance Chain and Solana topping the list while discussed in the podcast.

Kain commented that the hefty gas fee of Ethereum remains the key issue. As he highlighted, this can be the place where other blockchains can jump in and take the Etherum dominance away from it.

Bullish trend of Binance and Solana

Kyle, who predominantly focuses on digital asset investment, explained that Multicoin is bullish on ETH, but the organization is more bullish on SOL and BSC as he told in the podcast that the company was longer on Ethereum than BTC and even more long on Binance and Sol.

The experts both believed that investors should not just focus on ETH while leaving its competitors astray. Kain further added that he thinks the Ethereum community will not be unaware of this while restating how Ethereum competitors should also be in the discussion when it comes to ETH blockchains.

Primary advantages of competitors

Both Binance and Solana offer many advantages compare to Ethereum. One is to scale up properly, which remain a fundamental problem for Ethereum as it is unable to scale up successfully. The increasing amount of users have caused many problems for the Ethereum Network, which both Binance and Solana can address.

According to Kyle, the most critical issue the ecosystem is facing cannot be answered as it questions the outlook of the future ETH application after being scaled up.

Other factors highlighted were the development system as Solana was built on Rust, and Kain thinks that allows Solana to build the network further. Not only that, but Kyle also thinks Rust will slowly overtake C++ for powering the core of everything.

Kain concluded that Sol represented a more significant threat to ETH in the extended period as the expert states one can drop significant market hold, and the front-runner is often overtaken, especially when the technological revolution is in its nascent period.