Be wary of latecomers! SmallCap: Ether dominance "far from achieved"

Importantly, the market's waning enthusiasm for the Ether blockchain could weaken the price of Ether, which has more than doubled in the past year.

Ether is known to have been a dominant force in the cryptocurrency space for several years, and is the second largest cryptocurrency by market capitalization behind Bitcoin. In the ethereum environment, slicing will reduce network congestion and increase the number of transactions per second by creating new chains called "slices". Slicing is the process of horizontally splitting a database to spread the load, which is a common concept in computer science.

Notably, sharding is a great way to scale, and with sharding chains, verifiers only need to store/run data for the shard they are verifying, rather than for the entire network. This speeds up and greatly reduces hardware requirements.

In addition, Panigirtzoglou added, Ether is losing market share primarily to other independent blockchains, rather than those that rely on Ether's own Layer 1 network for security, which is a considerable problem for the cryptocurrency.