Solana blockchain has prepared to develop the best software products. With Solana, you can develop blockchain-based social media applications and this is the core power of this blockchain network. In your opinion, does Solana’s market cap still have the potential to grow? Will Solana replace Ethereum in the near future? Which Solana-based projects do you find more successful?
What is Solana blockchain and why is called Ethereum-killer?
Solana is a popular blockchain and is backed by the Solana Labs company.
At the time of writing, it is the eighth largest blockchain network by market cap.
Solana supports the smart contract technology and it can be used to run decentralized applications.
In comparison with Ethereum, Solana is faster and has a higher TPS (Transactions Per Second).
Ethereum is a crowded blockchain and can process only 15 transactions per second.
However, Solana claims to be able to process more than 65,000 transactions per second.
As a result, Solana is considered one of Ethereum’s biggest rivals and is called “Ethereum-killer”.
Being scalable is very important for a blockchain that aims to host decentralized applications.
Imagine that you want to develop the decentralized version of an application like Instagram.
Every like and every comment in such an application is considered an independent transaction.
If these activities take too much time and cost a lot, the project will lose its users.
Solana’s native token is called SOL and is being traded at around 100 dollars.
More than 324,000 units of this token exist and there is no established maximum supply yet.