In the views of Grayscale, the manager of Digital assets, Ethereum is just like the city of New York with huge similarities. Both Ethereum and New York city as per Grayscale are expensive, vast, and very congested in some places and it showcases an ecosystem with the richest application.
Grayscale Compared Ethereum With New York City
A recent report was published by Grayscale where he wrote about platforms of smart contract and connected a dot with ETH blockchain with the city of New York and showed both its worst and best parts. In the report, there have been comparisons made among Ethereum and other new blockchains that are competing with ETH like SOL, DOT, AVAX, XLM, and ADA.
This report was launched just at the time when the company decided to launch a crypto fund that will be entirely dedicated to all the small contract platforms apart from Ethereum. The report contains a section known as the Digital Cities where while analyzing ETH, Solana, and Avalanche, Grayscale stated that ETH is more like the Big Apple with just some minor problems with its stature.
The developers and users are quite content with ETH as it remains the center of attraction for liquidity and application innovation as its community size and capital invested in the smart contracts are huge. Moreover, the report also stated that Polygon, the L2 solution can also be compared to New York’s skyscrapers.
The price of one transaction i.e. the fees of ETH is $10 which is why other competitors like Solana, Stellar, Avalanche, and many more are gradually rising. Grayscale also compared Solana to the Los Angeles state with a network that is distinct structurally, has fast speed, and is focused on multiple use cases. In spite of all the comparisons, Grayscale laid emphasis on the bullish nature of smart contract platforms.
