3 possible reasons why Polkadot is playing second fiddle in the L1
2021 was a sort of “coming-of-age” for many layer-one (L1) blockchain protocols because the growth of decentralized finance (DeFi) and nonfungible tokens (NFTs) forced users to look for solutions outside of the (ETH) network where high fees and network congestion continued to be barriers for many.
Protocols like Fantom (FTM), (AVAX) and Cosmos (ATOM) saw their token values rise and ecosystems flourished as 2021 came to a close. Meanwhile, popular projects like (DOT) underperformed, comparatively speaking, despite the high expectations many had for the sharded multi-chain protocol.
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