As every leading blockchain network has some characteristics that help it stand out from others, it usually lacks something that helps its competitors to sometimes supersede it. Tezos also has its competitors. Below we have listed some of Tezos’ biggest competitors.
1. Meter
Meter is a decentralized platform with high-performance infrastructure, specially designed for making Smart contracts. They can scale and travel through heterogeneous blockchain networks. Financial assets flow freely and instantly through blockchains without being costly. It allows thousands of validator nodes and is the most decentralized Layer 2 for Ethereum. There are two tokens for this blockchain, i.e., MTR ( the low volatility currency token) and MTRG (the governance token).
2. Ethereum
Ethereum is a technology related to digital money and global payments. It powers cryptocurrency with its coins (ETH) and thousands of decentralized applications. It is a community that has built a blooming crypto economy, innovative new methods for online earning, and much more. It is open for anyone in the world to use via the internet. Its decentralized finance (DeFi) system never delays sending, receiving, borrowing, and streaming money anywhere in the world at any time through the internet.
3. Solana
Solana is a fast, safe, and censorship-resistant blockchain that provides the open infrastructure needed for global adoption. It can process fifty thousand transactions per second. It is very affordable and operates very fast.
4. Chainlink
Chainlink is a decentralized network that connects your personal smart contract to the outer world. You can use trusted nodes and premium data to connect highly accurate and available to any smart contract. You can also utilize the feature of cryptographic proofs.
5. Algorand
Algorand provides movement and earning of money with minimum time and effort. This technology company has developed an open and pure proof-of-stake blockchain protocol for security and decentralization without forking. It has also made the way of sophisticated applications easier. It has enabled enterprises to embrace decentralized finance.
Some other important and popular competitors of Tezos are Hyperledger, Mastercard Blockchain, BlockCypher, Metamask, HYPR, GoCoin, Polybius, Stellar Platform.
Also read: Tezos (XTZ) Price Prediction 2021 and Beyond – Will XTZ Reach $100?
Takeaways:
- There are many competitors of Tezos that can more or less act as its alternatives.
- They mostly share the characteristics of Tezos, such as its decentralized, smart contracts and secure transactions.
- Examples of these alternatives are Algorand, Chainlink, Solana, Meter, Ethereum, Hyperledger, Mastercard Blockchain, BlockCypher, Metamask, HYPR, GoCoin, Polybius, Stellar Platform, etc.