More than half of crypto traders say Ethereum to become the global standard contract blockchain, new poll by Benzinga finds
As blockchain technology continues to gain value, a fierce competition for market share has begun. Many experts believe that the dominant smart contract blockchain will become the reserve currency of the internet, and potentially the global economy.
Benzinga, a fintech media company providing news and data to retail and crypto traders, publishes its latest survey “Ethereum Predicted to Become the Global Standard Smart Contract Blockchain.”
Using data from 100 cryptocurrency investors and traders, Benzinga found that over half of participants believe that Ethereum is poised to become the global standard contract blockchain.
Respondents stated that decentralization, application ecosystem and scalability are the main factors informing their predictions, with scalability pulling ahead as the leading marker of a blockchain they’re bullish on. Despite Ethereum’s ongoing scaling challenges, investors remain the most bullish on ETH suggesting that traders have faith in the Ethereum Foundation’s ability to successfully complete the 2.0 scaling upgrade.
While 56.7% named Ethereum as the most likely to become the global standard contract blockchain, 20.6% said Cardano, 8.2% said the Binance Smart Chain and 14.5% named other platforms.
Overall, Ethereum’s difficulty to transition from proof of work to proof of stake is magnified by its high gas fees as well as alarms sounded regarding its potentially negative impact on the environment. With Cardano and the Binance Smart Chain hot on the heels of the Ethereum blockchain, Ethereum will need to rely on its extensive DeFi ecosystem and continue to focus on improving scalability to retain its edge.
Read the Ethereum Predicted to Become the Global Standard Smart Contract Blockchain report in its entirety for the full report and analysis.
Benzinga regularly conducts surveys of crypto traders and publishes its findings. Read Benzinga Reports: Bitcoin Predicted to Crush Bitcoin’s ROI in 2021 for more data like this.