Polkadot vs Ethereum. Competitors or collaborators? Best comments
18 January 2021
Polkadot has often appeared in the social media hype for several months. Often referred to as "ETH killer". I will not go into the technical aspects and the differences between platforms. I am more interested in the question of whether Polkadot is actually a rival or a future collaborator of Ethereum. That's why I asked the Experty community (from tech professionals to Polkadot early adopters) and chose the most interesting comments.
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1
CEO at Infinite Labs
Polkadot will be a competition for Ethereum, or will they complement each other?
They are complements, and this is the tricky point of Polkadot. Many solutions are working over Eth, so using Polkadot can interact with two or more services, that's interoperability.
Do you think the Polkadot project could acquire the Ethereum community?
And I think current Eth devs can choose if they want to build something over Eth or do it over Polkadot, depending on the project needs. I think the eth community will have a new option (Polkadot), which is very powerful because of the interoperability.
Have you thought about DOT investment?
Actually, we are developing solutions using Polkadot. We use Polkadot to create a Digital Identity. We choose this tech because now, we can connect with other Ethereum solutions, Hyperledger, Stellar,... whatever, we only need to build the bridges.
2
Traditional, Blockchain and Crypto CFO - Member of MMBA
The project is meant to further the Web3 vision of a decentralized world by providing scalability solutions to connect across all blockchains.
Polkadot will be a competition for Ethereum, or will they complement each other?
The project is open-sourced and focuses on solving three critical pain points in blockchain adoption: interoperability, scalability, and Shared Security. By focusing on these areas, they effectively are positioning Polkadot as a “blockchain of blockchains”. Interoperability, alone, has long been considered a bit of a holy grail in crypto space. Just the role that is played here will make Polkadot relevant into the next decade. Rather than being a competitor to Ethereum, Polkadot is meant to work symbiotically with the current number two chain. Polkadot is the first to say that there will not be “one chain to rule them all”. Instead, the goal is “many chains, one network”.
Do you think the Polkadot project could acquire the Ethereum community?
The Eth community members will not turn their back on Ethereum to now work on Polkadot. Instead, they will be able to increase the reach of Ethereum projects to larger markets.
Have you thought about DOT investment?
I did get a few DOT, which was then traded for the current DOT. There will be lots of development and big players with this project. People interested should become familiar with Kusama as well.
3
Founder | Innovator | Advisor | Decentralized Business Consultant
Polkadot will be a competition for Ethereum, or will they complement each other?
Polkadot is the Ethereum replacement as the world moves to a more and more flexible blockchain model. The current Ethereum model is too inflexible given the learnings gained in computing design and service management since the DOT com bubble. Things such as multi-threaded execution to isolate transactions (and associated gas consumption) require a fair bit of thought to implement on Ethereum whilst the chaining model on Polkadot begins to provide a way of dealing with this. My point is that there is an evolution going on, and Polkadot is on a faster trajectory than Ethereum.
Do you think the Polkadot project could acquire the Ethereum community?
The Polkadot should really ignore the Ethereum community from a user growth standpoint and be focused on the global community of internet users. Cannibalization of the Ethereum community will be difficult because of the total ETH value, average user service demand, and project commitment.
Have you thought about DOT investment?
In my opinion, from an investment perspective, DOT is a definite BUY at this time. The project is well thought out, and its ecosystem is healthy and growing.
4
CEO @ IWAY (Networks and IoT expert Company)
Polkadot has been made to solve multi-chain and cross-domain transfers, and with this scope at its base can truly be a keystone to guarantee a wider technology spread.
Polkadot will be a competition for Ethereum, or will they complement each other?
Ethereum has already conquered a position and solid brand in the market, so I think they could interoperate initially. Polkadot has a faster finality protocol and a lower number of validators, so it'd be preferred to be adopted.
Do you think the Polkadot project could acquire the Ethereum community?
The Ethereum community is already moving towards Polkadot. At this moment, a significant work should be to make order in a mess of solutions that are distracting resources and time. We're living in a new-tech explosion where no standard allows the big investments to be addressed in a future proof tech business.
Have you thought about DOT investment?
We're discussing it internally, but we've not taken a position. We should be really aware not to waste time and money, making a choice that the market could not support.
5
Full Stack web developer with a focus on web3 / solidity
I don't think my knowledge of polkadot is sufficient to really give a detailed and in-depth answer. I am mostly involved in the ethereum ecosystem however I do currently investigate layer 2 solutions, as well as binancechain. I am also a little involved in NEO. Polkadot looks interesting though and I think it warrants a closer look. I can elaborate a bit about the perspective of Ethereum.
Ethereum has many competitors but while "ethereum killers" come and go, ethereum seems to be holding strong, and it's consistent. At the same time it does sometimes struggle because of its own popularity and currently it doesn't have a proven scaling solution, although some are said to come soon. Of course, proof is better than words.
The crypto world for all its innovation actually does act very traditional in the sense that old players tend to stick, even when better solutions arrive (case in point: Bitcoin). Even within Ethereum itself improved solutions are often ignored for older solutions that already caught steam. For example erc20 tokens vs erc777 tokens. Erc777 tokens are superior, and yet people stick with what they know.
6
UX Researcher and Designer
I've been studying alternative technologies that seek to improve the scalability of Ethereum for some time. Without a doubt, Polkadot is one of those exciting projects that seek to make a difference. Along with xDai STAKE, Polkadot has been following him closely and even got hold of some DOTs attesting to their all-time high to date. The Polkadot ecosystem is impressive and what it has achieved to date is just as incredible. Several projects are running on Polkadot as parachains that personally attract me, such as Energy Web or the same Chainlink that caused such a stir during 2020.
Polkadot will be a competition for Ethereum, or will they complement each other?
I do not think that direct competition with Ethereum can be considered. Perhaps in some years, when the transition from Solidity to Serenity will be much more consolidated, interoperability exists between the different blockchains. They can all coexist, as today's the different fiduciary assets.
Do you think the Polkadot project could acquire the Ethereum community?
They have partially conquered me with each new announcement, so I think I'm not the only one. That doesn't mean that I prefer one over the other, I am a researcher, and I like to see everything (good or bad sides).
Have you thought about DOT investment?
Of course, since last year I bought at 5 USD and I plan to take more part in the ecosystem by testing its different services, such as staking for example.
7
Blockchain Consultant
Polkadot will be a competition for Ethereum, or will they complement each other?
Polkadot is designed to complement Ethereum and help take some of the strain off of the ETH network as ETH 2.0 continues to roll out but will still require a great deal of time.
Do you think the Polkadot project could acquire the Ethereum community?
I don't think the communities will merge or be acquired, but I do imagine there will be people who admire and support both ecosystems for the value they offer.
Have you thought about DOT investment?
I have already invested in several Polkadot tokens and have plans on investing more in the future.
8
DeFi Advisor
Polkadot will be a competition for Ethereum, or will they complement each other?
Dot will stimulate the DeFi market and represent a positive competition to ETH.
Do you think the Polkadot project could acquire the Ethereum community?
Should the ethereum network get scaling problems, this could lead to a drain from ETH to DOT.
Have you thought about DOT investment?
Going to not yet.
9
Solution Architect in Digital Economy and Governance, Blockchain and AI
Polkadot will be a competition for Ethereum, or will they complement each other?
Polkadot is a protocol that allows interoperability between blockchains that creates synergy between DOT and ETH. Polkadot might provide meta communication that can be used to fuel complex socio-economic platforms, like cosmos hub.
Do you think the Polkadot project could acquire the Ethereum community?
Polkadot came from Ethereum, so will definitely find some adopters.
Have you thought about DOT investment?
I've already invested a month ago.
10
Cryptographic Investment Manager/Founder Torrefuerte Capital and V15 Venture Capital
Polkadot will be a competition for Ethereum, or will they complement each other?
Although Polkadot was born as the main competitor for Ethereum, I hope that in the future once the implementation of Ethereum 2.0 is fully completed they can complement each other to strengthen a more connected and interoperable blockchain network between their parties.
Do you think the Polkadot project could acquire the Ethereum community?
I believe that no, the Ethereum developers community would oppose any attempt of acquisition by Polkadot.
Have you thought about DOT investment?
I have invested and will continue to invest in the medium and long term in Polkadot, I see it as an excellent project, a good team, and good added value.
11
Blockchain/Crypto Copywriter
Polkadot will be a competition for Ethereum, or will they complement each other?
I have always viewed Polkadot and Ethereum as something that will complement each other. As I understand it Polkadot does not really have its Smart contract implementations on the substrate layer. I believe DOT was not positioned to be an Ethereum killer but rather to complement Ethereum-based dapps especially in the realm of interoperability.
Do you think the Polkadot project could acquire the Ethereum community?
I think it already has. Based on my observation in crypto Twitter there isn't really any animosity between the DOT community and the ETH community. Unlike other projects like TRON or EOS, the ETH community seems so hostile towards those projects. Perhaps the possibility that DOT can serve as a scalability and interoperability layer for ETH seems to quell concerns that DOT usurping ETH on its current position as the dominant blockchain platform.
Have you thought about DOT investment?
Yes I have been investing in DOT tokens.
12
Cryptocurrency & DeFi Expert
I have already invested in Polkadot due to its aid to provide solutions faced on ethereum such as gas fees and slow transactions. However, there are pros and cons to both. For example, ETH has a big community and developer team that has been working on ETH2.0. Thus no one knows what it will result in. Polkadot, on the other hand, is new to this platform (eth killer) feature to take over or help ethereum leftovers. I mean this is what the community wants to see or already labeled Polkadot to be the next Ethereum. I would be concerned more about investing in DOT when it is trending. Trending crypto coins are good at some point, but later when there is no new blood (investors/users) then attention will take the price down, like Solana.
13
Blockchain academic & analyst.
Polkadot will be a competition for Ethereum, or will they complement each other?
It is too early to determine whether Polkadot would be in direct competition with Ethereum. Given their decentralized nature, I believe that both would collaborate for the greater good of the community.
Do you think the Polkadot project could acquire the Ethereum community?
No, The Ethereum community is much bigger. However, the Polkadot community is gaining traction.
Have you thought about DOT investment?
I have already invested in DOT.
14
Private Business and Crypto Trader
Polkadot will be a competition for Ethereum, or will they complement each other?
Ethereum, like Bitcoin, is already a world-known and reliable currency. Like the Cosmos platform, Polkadot can only occupy 10 parts of Ethereum, so I don't think it could create strong competition. Polkadot and Ethereum can complement each other without competing.
Have you thought about DOT investment?
I already have a DOT purchased and looking forward to exchanging rate growth to profit from the direction currency transaction.
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