Polkadot Appears Fierce to Be Ethereum's Main Competitor

 Polkadot's blockchain suite is unexpectedly at the top of the list as a crypto betting platform with a record of $ 3 billion DOT at stake.


This means DOT players have put in $ 3 billion worth of funds with the Polkadot endorsement system for passive gain.


Cardano is however in second place with as much as $ 1.79 billion ADA at stake, while Tezos (XTZ) and EOS are in third and fourth place with $ 1.4 billion in stakes respectively in their stakes.


Interestingly, DOT is the only token that has had a positive return in US dollars, Bitcoin and Ether since 90 days ago since the series launched token investment.


At the same time, the analysts saw Polkadot emerge as a tight competitor to Ethereum throughout 2020 following the DeFi cycle which erupted from July to September due to increasing demand for high-capacity smart contract protocols.



Polkadot has the same infrastructure concept as ETH 2.0 in detail. The two blockchains share their sequences among multiple subs to make transaction authentication more efficient.


This means that the two protocols will indirectly compete for the long term.


However, Delphi Digital analyzer Ashwath Balakrishnan is also skeptical of Polkadot as the early phases of the protocol chain adoption system and ETH 2.0 will be a barrier to the development of the system.


Polkadot's market capitalization is now in 9th position with a value of nearly $ 4 billion.