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There is a general agreement that the future of cryptocurrency lies with its decentralized applications. Two of the most emerging cryptocurrencies are Ethereum and Solana. Ethereum has shown tremendous growth in 2021, currently as the #2 ranked cryptocurrency according to coinmarketcap.com with a year-to-date growth rate of around over 900%. Solana has respectfully boomed as well, starting 2021 with a per coin price at around $1.71, and now, as of this video, trading for around $210 per coin. Raoul Pal, famed investor and CEO of Real Vision, has consistently said in his interviews, “Solana is following the same chart pattern as Ethereum in 2017.” Both currencies are battling to win the “Smart Contract” war and in today’s video, we will look at their similarities, differences and an understanding of what both coins have to offer.
Solana is a blockchain platform that is designed specially to take decentralized applications. The Geneva-based Solana foundation currently controls Solana. The native token of Solana is SOL. On the other hand, Ethereum is an open-source and decentralized blockchain that can allow smart contracts. The native currency of the platform is Ether, founded in 2015 by Vitalik Buterin and Gavin Wood.
Solana is a fourth-generation blockchain and cryptocurrency that uses open infrastructure to support its large number of transactions. The system is extremely fast; it supports 50,000 transactions each second and takes just 500 milliseconds to create a new block. Solana's network currently has 200 physically distinct nodes that receive, send, and verify transactions. The algorithm is known as a high-frequency Verifiable Delay Function.
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24 окт 2024
