What makes Solana it different from other Blockchains? (1/5)

What makes SOL different?

Basically, Solana claims to be the fastest network (although this might not actually true). It currently boasts 400 millisecond block times and low fees. In layman’s terms, this makes it SUPER fast. Take Ethereum, for example, which only has a 10 second block time, or Bitcoin’s 10 minutes.

It claims to support 710,000 transactions per second, which is about 30x more than Visa which can handle 23,666 transactions.  The devil here is actually in the details: the time to finality is less than Avalanche, but that might not actually matter. Solana is fast and cheap, comparable to the Matic network with fees as low as 1/100th of a penny.

Ethereum’s gas price is notoriously high. Solana users can breathe a sigh of relief because transaction fees will always remain under a penny thanks to an excellent scaling solution, even if the network becomes very stressed.

Infrastructure projects(blockchains) tend to do really well, historically. 

This could make Solana a very attractive project to keep an eye on for both big institutions and the little guys like us. Key word is, could.

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Loading…

0

Mel B of the Spice Girls + Bitcoin = Profit? (3/5)

Solana Consensus mechanism (2/5)