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The Layer-1 Challengers: Why These Layer-1 Might Be the Real Ethereum Killers

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5 månader sedan

den

30 oktober, 2024

A question that is frequently asked is whether Ethereum will ever be replaced by another network. This question often comes alongside inquiries about the key differences between Layer-1 networks and their approaches to addressing the challenges Ethereum has introduced to the world of crypto.

To recap, a Layer-1 blockchain is the foundational layer responsible for handling consensus and the execution of transactions and smart contracts. To make it easier to understand, let’s categorize these type of networks into two main groups (excluding Layer-2 solutions):

Similar networks (networks based largely on the same set of technologies or even compatible with Ethereum) with additional features. We will refer to these as EVM-compatible networks, for example: Solana, Binance Smart Chain, Polygon, Tron, Toncoin, Cardano, Avalanche, NEAR.

Note: sometimes these networks are natively incompatible without additional efforts to make them compatible (such as a sidechain or a form of virtualization) but to keep complexity they are included as well.

Novel networks (networks based largely on a new set of technologies and therefore being largely incompatible with Ethereum) with equivalent features. We can refer to them as EVM-Equivalent networks, for example: Sui, Aptos, Sei, Kaspa, Stellar, Filecoin, Hedera.

The blockchain landscape has been dominated by Ethereum for years, with its robust smart contract capabilities and widespread adoption. However, as the network continues to face scalability and congestion issues amongst other issues like security, cost and user-experience, various Layer-1 blockchains have emerged, each vying for the title of “Ethereum Killer.” Networks like Solana, Avalanche, and Cardano have all taken different approaches to outpace Ethereum, yet none have fully succeeded in dethroning the giant. When it comes to EVM-equivalent networks, Sui Network—is a new contender with rapid growth with origins from Meta’s Diem project that could be the true game-changer in the race to overcome Ethereum’s limitations.

The Rise of Layer-1 Competitors

How have other EVM-compatible networks tried to surpass Ethereum?

Solana: Known for its high throughput, Solana uses a unique consensus mechanism called Proof of History (PoH) combined with Proof of Stake (PoS). This allows Solana to process thousands of transactions per second (TPS), far surpassing Ethereum’s current capabilities. However, Solana has faced issues with network stability and centralization concerns, leading some to question its long-term viability.
Avalanche: Avalanche offers a highly flexible platform with its Avalanche consensus protocol, which allows for sub-second transaction finality and the ability to create custom blockchains. Avalanche’s unique architecture supports interoperability between multiple chains, making it a strong contender. Yet, like Solana, it has struggled with decentralization and network congestion at scale.
Cardano: Cardano takes a more methodical, research-driven approach, emphasizing security and scalability through its Ouroboros PoS consensus protocol. Cardano’s development has been slower, with some critics pointing to its lack of decentralized applications (dApps) and real-world usage as significant drawbacks.

EVM-Equivalent networks are taking a different approach; they are not just facing the challenge of getting users to switch for enhanced functionality, but also developers to switch to a different, potentially better, way of building decentralized applications. For example:

Sui Network: aims to offer developers and users alike a safer, faster and more user-friendly environment for using, connecting and developing applications. It does this with a full redesign on the consensus and execution of transactions and smart contracts as well as a completely new smart contract language called Move.

The Layer-2 Conundrum: Scaling Ethereum

Ethereum has been working to address its scalability issues through the development of Layer-2 (L2) solutions like Optimism, Arbitrum, and zk-Rollups. These L2 solutions aim to offload transactions from the Ethereum mainnet, thereby increasing throughput and reducing fees. While L2 solutions offer a promising path forward, they come with trade-offs:

Complexity: Users must interact with multiple layers, which can complicate the user experience and lead to fragmentation within the ecosystem.
Security Concerns: Since L2 solutions rely on Ethereum’s base layer for security, they may inherit vulnerabilities and create new attack vectors.
Limited Interoperability: L2 solutions often face challenges in maintaining seamless interoperability with other blockchains and L1 solutions.

While L2s provide a temporary solution, they may not fully resolve Ethereum’s fundamental issues. This is where a new EVM- Equivalent network such Sui Network could step in as a more comprehensive alternative. At the same time, Ethereum as a protocol is far from finished and developers may be able to tackle these obstacles towards mass adoption over time while other networks are trying to reinvent the wheel and struggle to get a critical mass.

This is not financial research but the opinion of the author of the article. We publish this information to inform and educate about recent market developments and technological updates, not to give any recommendation for certain products or projects. The selection of articles should therefore not be understood as financial advice or recommendation for any specific product and/or digital asset. We may occasionally include analysis of past market, network performance expectations and/or on-chain performance. Historical performance is not indicative for future returns.

Important information

For informational and advertising purposes only.

This information is intended only to provide general and preliminary information to investors and shall not be construed as investment, legal or tax advice. VanEck assumes no liability with regards to any investment, divestment or retention decision taken by the investor on the basis of this information. Views and opinions expressed are current as of the date of this information and are subject to change with market conditions. Certain statements contained herein may constitute projections, forecasts and other forward looking statements, which do not reflect actual results. VanEck makes no representation or warranty, express or implied regarding the advisability of investing in securities or digital assets generally.

Performance quoted represents past performance, which is no guarantee of future results and which may be lower or higher than current performance.

Liknande ämnen:Avalanche Cardano Layer-1 Solana SUI VanEck

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Michael Saylor’s bold Bitcoin bet and Strategy’s risk analysis

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18 timmar sedan

den

1 april, 2025

Redaktionen

Michael Saylor’s bold Bitcoin bet and Strategy’s risk analysis
Bitcoin price technical analysis: Where are the liquidation levels?
What are real-world assets and why do we need tokenization?

Michael Saylor’s bold Bitcoin bet and Strategy’s risk analysis

Strategy (formerly MicroStrategy) has amassed a staggering $43 billion in Bitcoin, positioning itself at the forefront of the corporate “reserve race.” Under the leadership of Bitcoin maximalist Michael Saylor, the company now boasts an $84 billion market cap. But with such an aggressive strategy, how sustainable is its approach—and what risks lie ahead? We break it down in today’s analysis.

Bitcoin price technical analysis: Where are the liquidation levels?

A drop below $72,000 could flush longs, while a breakout above $90,000 may squeeze shorts. One key positive indicator is that Bitcoin continues to print higher lows since March 10, which preserves a bullish market structure in our view. Dive into our technical analysis.

What are real-world assets and why do we need tokenization?

Imagine owning a slice of a skyscraper or a piece of fine art with just a few clicks. Tokenization, the act of converting ownership rights to real-world assets (RWAs) into tradable tokens, has surpassed $10 billion in on-chain value, unlocking global 24/7 access to once-exclusive markets with liquidity, efficiency, and yield. Find out how it works.

Research Newsletter

Each week the 21Shares Research team will publish our data-driven insights into the crypto asset world through this newsletter. Please direct any comments, questions, and words of feedback to research@21shares.com

Disclaimer

The information provided does not constitute a prospectus or other offering material and does not contain or constitute an offer to sell or a solicitation of any offer to buy securities in any jurisdiction. Some of the information published herein may contain forward-looking statements. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those in the forward-looking statements as a result of various factors. The information contained herein may not be considered as economic, legal, tax or other advice and users are cautioned to base investment decisions or other decisions solely on the content hereof.

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BSE0 ETF köper bara företagsobligationer med förfall 2030

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19 timmar sedan

den

1 april, 2025

Redaktionen

Invesco BulletShares 2030 EUR Corporate Bond UCITS ETF EUR Acc (BSE0 ETF) med ISIN IE000I25S1V5, försöker följa Bloomberg 2030 Maturity EUR Corporate Bond Screened-index. Bloomberg 2030 Maturity EUR Corporate Bond Screened Index följer företagsobligationer denominerade i EUR. Indexet speglar inte ett konstant löptidsintervall (som är fallet med de flesta andra obligationsindex). Istället ingår endast obligationer som förfaller under det angivna året (här: 2030) i indexet. Indexet består av ESG (environmental, social and governance) screenade företagsobligationer. Betyg: Investment Grade. Löptid: december 2030 (Denna ETF kommer att stängas efteråt).

Den börshandlade fondens TER (total cost ratio) uppgår till 0,10 % p.a. Invesco BulletShares 2030 EUR Corporate Bond UCITS ETF EUR Acc är den billigaste och största ETF som följer Bloomberg 2030 Maturity EUR Corporate Bond Screened index. ETFen replikerar det underliggande indexets prestanda genom samplingsteknik (köper ett urval av de mest relevanta indexbeståndsdelarna). Ränteintäkterna (kupongerna) ackumuleras och återinvesteras.

Invesco BulletShares 2030 EUR Corporate Bond UCITS ETF EUR Acc är en mycket liten ETF med tillgångar på 6 miljoner euro under förvaltning. Denna ETF lanserades den 18 juni 2024 och har sin hemvist i Irland.

Produktbeskrivning

Invesco BulletShares 2030 EUR Corporate Bond UCITS ETF Acc syftar till att ge den totala avkastningen för Bloomberg 2030 Maturity EUR Corporate Bond Screened Index (”Referensindexet”), minus avgifternas inverkan. Fonden har en fast löptid och kommer att upphöra på Förfallodagen.

Referensindexet är utformat för att återspegla resultatet för EUR-denominerade, investeringsklassade, fast ränta, skattepliktiga skuldebrev emitterade av företagsemittenter. För att vara berättigade till inkludering måste företagsvärdepapper ha minst 300 miljoner euro i nominellt utestående belopp och en effektiv löptid på eller mellan 1 januari 2030 och 31 december 2030.

Värdepapper är uteslutna om emittenter: 1) är inblandade i kontroversiella vapen, handeldvapen, militära kontrakt, oljesand, termiskt kol eller tobak; 2) inte har en kontroversnivå enligt definitionen av Sustainalytics eller har en Sustainalytics-kontroversnivå högre än 4; 3) anses inte följa principerna i FN:s Global Compact; eller 4) kommer från tillväxtmarknader.

Portföljförvaltarna strävar efter att uppnå fondens mål genom att tillämpa en urvalsstrategi, som inkluderar användning av kvantitativ analys, för att välja en andel av värdepapperen från referensindexet som representerar hela indexets egenskaper, med hjälp av faktorer som index- vägd genomsnittlig varaktighet, industrisektorer, landvikter och kreditkvalitet. När en företagsobligation som innehas av fonden når förfallodag kommer kontanterna som fonden tar emot att användas för att investera i kortfristiga EUR-denominerade skulder.

ETFen förvaltas passivt.

En investering i denna fond är ett förvärv av andelar i en passivt förvaltad indexföljande fond snarare än i de underliggande tillgångarna som ägs av fonden.

”Förfallodag”: andra onsdagen i december 2026 eller sådant annat datum som bestäms av styrelseledamöterna och meddelas aktieägaren

Handla BSE0 ETF

Invesco BulletShares 2030 EUR Corporate Bond UCITS ETF EUR Acc (BSE0 ETF) är en europeisk börshandlad fond. Denna fond handlas på flera olika börser, till exempel Deutsche Boerse Xetra.

Det betyder att det går att handla andelar i denna ETF genom de flesta svenska banker och Internetmäklare, till exempel DEGIRO, Nordnet, Aktieinvest och Avanza.

Börsnoteringar

Börs	Valuta	Kortnamn
XETRA	EUR	BSE0

Största innehav

Namn	CUSIP	ISIN	Kupongränta	Vikt %
Fresenius SE & Co KGaA 5.125% 05/10/30	D2R9K1AL3	XS2698713695	5.125	2.55%
Mercedes-Benz Group AG 2.375% 22/05/30	D1668RZW0	DE000A289XG8	2.375	2.19%
Akzo Nobel NV 1.625% 14/04/30	N01803YV6	XS2156598281	1.625	2.08%
Eni SpA 0.625% 23/01/30	T3666JJV9	XS2107315470	0.625	1.98%
Prologis International Funding II 2.375% 14/11/30	L7763MAD2	XS1904690341	2.375	1.78%
REWE International Finance BV 4.875% 13/09/30	N74119AA1	XS2679898184	4.875	1.65%
CaixaBank SA 4.25% 06/09/30	E2R193R97	XS2676814499	4.250	1.64%
Verizon Communications Inc 4.25% 31/10/30	—	XS2550881143	4.250	1.64%
Liberty Mutual Group Inc 4.625% 02/12/30	U52932BR7	XS2561647368	4.625	1.62%
AXA SA 3.75% 12/10/30	F0609NBG2	XS2537251170	3.750	1.60%

Innehav kan komma att förändras

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US regulatory shift provides a beacon for optimism

Publicerad

20 timmar sedan

den

1 april, 2025

Redaktionen

Since President Trump appointed Mark Uyeda as acting SEC chair two months ago, many investigations into crypto businesses have been dropped, as the SEC moves away from regulation by enforcement and works to create a framework for digital assets. As regulations become clearer and news flow turns more positive, crypto prices—which dropped sharply this week—should begin to better reflect the new regulatory landscape in the US.

We believe this regulatory shift could ultimately help trigger the next leg of the current bull run, as investors better understand the significance of regulatory clarity and seek to acquire bitcoin and altcoins at what we believe are currently very favorable levels.

Market Highlights

SEC Dismisses Crypto Enforcement Actions

The SEC dropped its enforcement actions against crypto-related companies Kraken, Consensys, and Cumberland DRW.

This indicates a shift in SEC’s regulatory approach, favoring clearer guidelines over enforcement actions. Such a pivot could foster a more predictable environment, encouraging innovation within the sector.

Banks to Engage in Crypto Activities

The FDIC has rescinded previous guidelines which prevented financial institutions from engaging with crypto activities without prior sign-off.

By removing bureaucratic hurdles, banks may more readily offer crypto-related services, potentially leading to broader adoption and integration of digital assets.

Bitcoin ETFs Inflow Streak Surpassed $1 Billion

US spot Bitcoin ETFs have recorded a 10-day inflow streak exceeding $1 billion marking the longest such streak in 2025.

This underscores growing institutional and retail investor confidence in Bitcoin as an asset class that helps increase market stability and possibly paving the way for the approval of other crypto-based financial products.

Market Metrics

All NCITM constituents had negative performance last week, with XRP (-10.8%) and UNI (-10.7%) seeing the steepest declines. ETH also experienced a sharp drop (-9.1%), contributing to NCITM’s underperformance relative to BTC (-2.9%). The NCITM -4.2% decline reflects a broader risk-off sentiment in the crypto market, as investors reassess their positions amid ongoing macroeconomic uncertainties.

NCITM (-4.2%) extended its underperformance last week, deepening year-to-date losses. Traditional indices like the S&P 500 (-1.5%) and Nasdaq 100 (-2.4%) saw smaller declines. The gap between crypto and other risk assets continues to widen, while gold has emerged as the top performer in 2025, gaining nearly 20% amid ongoing macroeconomic uncertainties. This trend highlights a growing risk-off sentiment, with investors shifting toward defensive assets and away from high-volatility investments.