The Ethereum ecosystem has been compared to the infrastructure of New York, Avalanche to Chicago, and Solana to Los Angeles.
Analytical company Grayscale provides detailed information on various blockchain projects. The researchers compared those with major US cities to better understand blockchain specificities.
The Ethereum platform hosts about 500 decentralized applications, ten times more than any other blockchain network. Network congestion correlates with the crowded infrastructure of New York City. Experts forecast that Ethereum will retain its leadership as a platform for creating decentralized apps and providing liquidity despite the high cost of usage, just as New York City remains the financial center of the United States.
Avalanche is likened to Chicago in an analogy comparing Ethereum and New York City. The Avalanche blockchain network is smaller than Ethereum, more centralized, less congested, and offers lower transaction fees.
The architecture of Solana has been compared to Los Angeles, which provides speed and opportunities for a wide variety of projects at a low cost. Haseeb Qureshi from Dragonfly Research says that in the Solana network, just like in Los Angeles, a starving actor can easily become famous by launching a successful NFT project.
The report also clarifies that despite the rapid development of projects, platforms of smart contracts in their current state cannot handle even 10% of global financial transactions.
