Ethereum vs. Solana. The Future of Decentralisation
Ethereum is one of the top blockchains out there. Solana is a close contender but will it be able to overtake and beat Ethereum? Let’s take a look.
The blockchain world is keeping the developer community on its toes. Prominent additions like NFTs, Web 3.0, Metaverse, and decentralised finance have been the most talked-about phrases in 2022. As the demand for blockchain-based solutions grows, so does the need for blockchain platforms to produce those solutions.
Among some of the best blockchains are Solana and Ethereum. Solana is one of the world’s fastest Layer-1 blockchains. But will it eventually dethrone Ethereum’s supremacy and emerge as the leading platform for the expanding DeFi industry?
What is the difference between Ethereum and Solana blockchains? How easy is it for project founders and token creators to learn about the blockchain that most developers and the crypto community, in general, are familiar with? Let’s see what we can find out!
Ethereum vs. Solana - Tech Differences
The underlying technology is one of the fundamental differences between Ethereum and Solana. Each has a unique consensus mechanism at its core and different solutions to scalability issues.
In this part, we’ll look at how the two blockchains vary from the standpoint of speed, cost, security, and decentralisation.
Solana is fast. The network can execute a block every 400 milliseconds and record 65,000 transactions per second (TPS) is unquestionably a key selling proposition. It is one of the quickest layer-one blockchains simply because of these qualities.
Ethereum, on the other hand, is very slow. Due to Ethereum’s decentralised (Ethereum is more decentralised compared to Solana) design, the number of transactions it can handle is only 15 per second.
Because of Solana’s scalability, both developers and users should expect transactions to cost less than $0.01 forever. It is, on average, sitting at $0.00025 per transaction as of February 2022. Of course, developers…