3 Key Highlights of @solana
1. Solana solves the scalability issues of the current market leaders in L1 programmable blockchains, such as Ethereum and Cardano, by using the proof of history mechanism.
#Solana #DeFi #blockchain #cryptocurrency
1. Solana solves the scalability issues of the current market leaders in L1 programmable blockchains, such as Ethereum and Cardano, by using the proof of history mechanism.
#Solana #DeFi #blockchain #cryptocurrency
In specific, Solana can process more than 50,000 transactions per second (TPS) with the developers stating the possible upper bound to be 700,000 TPS as the network grows. On the other hand, Ethereum's current processing speed is between 15 to 45 TPS.
2. The Solana ecosystem has the backing of FTX, one of the leading digital asset exchanges in the world, which has already launched numerous Solana-based projects.
It is also backed by some of the biggest investors in the crypto space such as Alameda Research, Andreessen Horowitz, and Polychain.
3. Solana has the lowest fee among all of its competitors. Specifically, a typical transaction costs 0.000005 SOL which is about $0.001.
On the other hand, a typical transaction on Etheruem costs approximately $15 and can surge upto hundreds or, sometimes even, thousands of dollars.
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