Ethereum and Solana: Key Differences and Prospects

Launched in 2015, Ethereum was the first blockchain to support smart contracts and decentralized applications (dApps). Today, it powers the largest DeFi and NFT protocols. Ethereum's market capitalization exceeds $250 billion, making it the second-largest cryptocurrency.

What is Solana?

Solana is a blockchain developed in 2017 by Anatoly Yakovenko, focusing on high speed and low fees thanks to its unique "Proof of History" consensus mechanism. Despite the fast transaction speeds, critics consider Solana more centralized than Ethereum. Its market cap exceeds $35 billion, ranking fifth among cryptocurrencies.

Can Solana Overtake Ethereum?

At the end of 2023, Solana surpassed Ethereum in a number of metrics:

- Daily active users: 940k+ for Solana vs. 490k+ for Ethereum.

- Number of transactions per day: 25.3 million vs. 1.14 million.

- New addresses per month: 5.52 million vs. 1.69 million.

However, Ethereum remains the leader as a platform for dApps development, and its market cap is still 8 times larger than Solana's.

Advantages and Disadvantages of Solana and Ethereum

- Solana: High speed (2600+ transactions per second), low fees, eco-friendly.

- Ethereum: More developed application ecosystem, programming in a popular language (JavaScript), more decentralized structure.

Solana and Ethereum in the NFT space

- Ethereum is the leader in popularity among NFT creators.

- Solana is ahead in terms of transaction speed and low fees, which makes it more attractive for beginners.

Is Solana an "Ethereum Killer"?

While Solana is gaining traction, Ethereum remains a key platform for dApps and NFTs despite the competition. However, experts like analyst Inmortal predict further growth for Solana, calling it the “fast horse” of the current crypto cycle. A breakout of $200 could send its price going parabolic.

Increase in trade volumes and income

Recently, trading volumes in $ETH , Bitcoin and #Solana have increased significantly, indicating renewed investor interest. $SOL , with $25 million in revenue, even surpassed #Ethereum in this indicator.

Conclusion

Solana shows strengths, especially in terms of speed and scalability, but Ethereum still dominates key areas of the crypto ecosystem.