Among all Layer 1 blockchain projects, Ethereum is still king, regardless of its scalability limitations. In order to make their smart contract platform future-proof, Ethereum 2.0 will be rolled out in the upcoming year, but this project is already riddled with problems. Besides having to run a separate blockchain than “legacy” Ethereum, Ethereum 2.0 will not have the ability for atomic transactions and data retrieval will become more expensive.
Ethereum 2.0 is still a work in progress. While their beacon chain and Proof of Stake capabilities will go live once Phase 0 is rolled out, smart contract execution will not become available until Phase 2 and will take several more years until both Ethereum blockchains are fully merged again. In the meanwhile, other Layer 1 projects will either enter the market, or introduce new features, putting Ethereum 2.0 under heavy competition. Let us take a look at five of the most promising projects.
One of the most well-known Layer 1 projects still in development is Polkadot. Like…