Chris Burniske recalled the last Placeholder VC meeting and the discussion about the price people are paying for using the top blockchains.
Ethereum (ETH) Undisputed
Mr. Burniske highlighted the 15,000% gap between the mining fees paid for Ethereum (ETH), Tezos (XTZ), Waves (WAWES) and Lisk (LSK). Three Ethereum (ETH) competitors failed to collect $0.5M in fees while the second blockchain demonstrated an insane result of $76.4M.
There's been good conversation recently about the amount people *actually pay* to use blockchains, stripping out the inflation subsidy.— Chris Burniske (@cburniske) May 9, 2020
At @placeholdervc's annual meeting a few months back, we shared this graph to show #Ethereum's lead versus other smart contract platforms: pic.twitter.com/MZQkKJlF0h
From his analysis Mr. Burniske took the data from smart contract platforms and their performance from Q3 2018 to Q1 2020. He admitted that the data should be updated as the model misses some meaningful platform information.
For instance, the data does not count EOS due to differences in the manner of fee collections. However, it does not affect the main conclusion about Ethereum's superiority within the sphere of smart contract platforms.
Thus, the very concept of 'Ethereum killers' (marketing motto misused by the vast majority of dApps hosts) looks speculative for the analyst.
Ethereum (ETH) and Bitcoin (BTC): Old but Gold
Mr. Burniske highlighted that Bitcoin (BTC) is the only network that can compete with Ethereum (ETH) in terms of collection fees, or in terms of the people's willingness to use it and pay for its usage.
While highlighting the demand for the most adopted blockchains, Mr. Burniske avoided naming one champion:
This is not to say one is better than the other, but that both are great.
As previously reported by U.Today, some analysts are sure that no altcoin can compete with Bitcoin (BTC) in terms of usage and adoption.
Qiao Wang, an angel investor and Director of Product at Messari, is sure that speculation is the only use case for altcoins.