beginingBlockchainAnalyzesPopular Analyst Says Solana (SOL) Remains Ethereum's (Eth) Top Competitor

    Popular Analyst Says Solana (SOL) Remains Ethereum's (Eth) Top Competitor

    A popular crypto analyst claims that the blockchain of Solana (SOL) remains Ethereum's (ETH) fiercest competitor, supporting its claim with several reasons. 

    The pseudonymous host of InvestAnswers told his YouTube followers that the Solana blockchain is the only smart contract network with the framework and capabilities to challenge Ethereum , the largest smart contract network.

    In his statement, the anonymous analyst pointed out that Solana alone has less than 1/12th of Ethereum's current market valuation and is doing a lot of innovative things. 

    The host of InvestAnswers noted:

    “The strength of Solana and the reason I still like it is that they have the broadest DApps [decentralized applications] of any chain out there. They have exponential adoption. Fast, cheap, scalable. Despite the interruption…

    “It also has Rust, the most preferred development language, which drives the most development activity on every chain. 65,000 [transactions per second]. There is no need for layer 2 and SOL DApps have more daily active users than Ethereum DApps, which is kind of staggering because Ethereum has about 3000 DApps and SOL has about 750.

    Constant network outage: the only potential problem

    While the popular crypto analyst strongly believes that Solana has what it takes to push Ethereum, he highlighted potential problems with the blockchain. According to him, the potential problems of Solana's network are the outages that sometimes occur. An instance of the late April outage the blockchain project suffered after its beta cluster on the mainnet stopped producing blocks due to suspended consensus.

    The analyst said Solana has higher inflation than the largest smart contract platform Ethereum.

    The popular crypto analyst also pointed out the key advantages that Ethereum has over the project. According to the expert, Ethereum's advantages include its larger size, earlier launch date and higher adoption rate. Finally, he added that Ethereum also has the most validators and is more decentralized with less regulatory risk.

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