Ethereum and Solana are leading blockchain projects that help developers create decentralized applications (dApps) in all sectors. ETH and SOL have a combined market capitalization of over $390 billion, with Ethereum being the largest. In this Ethereum vs Solana comparison, we will evaluate the best option between the two.
The case of Ethereum
Market capitalization: $353 billion.
Total blocked value: $115 billion.
Architecture: Proof of work (PoW)
Cumulative performance since the beginning of the year: -22%.
How to Buy Ethereum .
There are several reasons why Ethereum investors believe in its platform. Firstly, it has one of the most well-known brands in the blockchain industry. In terms of brand awareness, only Bitcoin comes first. Therefore, investors believe that this quality will lead to more investments as the industry develops.
Secondly, the Ethereum price has performed well over the years. Its price has increased from less than $10 to more than $3,000, making it one of the most successful of all time. Thirdly, the network has retained a strong market share even though it faces significant competition from Solana, Avalanche and Cardano.
Thirdly, Ethereum is a dynamic platform that is undergoing changes. After successfully executing the proof-of-work (PoW) model, developers move to a proof-of-stake (PoS) framework. The merger of Beacon Chain and the current platform is expected to take place in July.
Therefore, the network will be significantly faster and more profitable. Therefore, developers will not need other blockchains.
The case of Solana
Statistics of Solana
Market capitalization: $32 billion.
TVL: $6.8 billion.
Architecture: Proof of history
Cumulative performance since the beginning of the year: -45 %
Solana is a blockchain project that uses an architecture framework known as proof of history. This is a relatively new framework that deals with a high frequency verifiable delay function (VDF) that takes a number of steps to evaluate blocks.
As a result, Solana has a noticeably high throughput of more than 2,000 transactions per second (tps) and low costs of about $0.0001 per transaction. This strong performance is one of the main reasons why most developers think Solana is a better investment than Ethereum.
Secondly, Solana has been used to create some of the most well-known Web 3.0 applications. Some of these applications are Audius, Brave Browser and stepN, among others. Therefore, it is likely that more Web 3.0 developers will choose Solana for their development.
Thirdly, Solana has a longer growth track than mature Ethereum. Moreover, this is a young project that has already attracted developers a lot.
Verdict: Ethereum vs Solana
In my opinion, I believe that Ethereum is still a better investment than Solana. I expect that the merger of the Beacon chain and the main Ethereum will lead to faster speeds and reduced costs. As a result, it will become a better alternative for developers.