Will Solana outperform Ethereum in the future?

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Solana Visa could become the digital asset ecosystem where there are over 400 decentralized applications built on the Solana Network, which will host everything from peer-to-peer trading platforms to NFT markets.

Legacy crypto market analysts have long been comparing transactions that occur on blockchain networks per second (TPS) with credit card networks.

She told Visa it could theoretically handle at least 24,000 transactions per second.

While the number of TPS transactions on the Ethereum blockchain is 15, this number is low, given the requirements of decentralized applications that are constantly connected to the chain.

With network limitations, transaction fees on the network are usually measured in double digits in dollars while many projects are trying to solve Ethereum scalability issues.

It is unlikely that congestion will decrease significantly until Ethereum 2.0 is fully rolled out.

Ethereum founder Vitalik Buterin assumed in June 2020 that the network, when upgraded, could reach 100,000 transactions per second.

While “Solana” outperforms both “Visa” and Ethereum, Solana boasts a transaction number of 65,000 transactions per second with very little fees.

But with faster transactions and lower fees, there are some downsides like centralization, and network outages that have occurred many times.

He added:

Solana's ability to provide high throughput, low cost, and ease of use creates a blockchain optimized for consumer use cases such as micropayments, DeFi, NFTs, decentralized networks (Web3) and gaming.


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By @natalia-irish

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