Top 10 Solana Competitors to consider amid transaction failures
Solana (SOL) network issues have escalated affecting investors’ confidence and preventing the proper use of its decentralized finance (DeFi) ecosystem. In this context, Finbold selected ten Solana competitors to consider using and investing amid transaction failures affecting its experience.
Notably, over 69% of all Solana transactions received by validators failed to receive votes for confirmation on April 7. Finbold retrieved this data from Dune Analytics, posted by Dune‘s user and analyst, scarn_eth. Moreover, the transaction failure rate went as high as 75% a few days ago.
Yet, the analyst explained the network issues go beyond this data. This is due to most transaction attempts failing to reach this point in the first place. As explained, servers fail to see the messages from each other before even getting the chance to vote on them.
10 best Solana competitors to consider amid network transaction failures:-
Now, users and investors turn their attention to SOL competitors, in the face of transaction failures and an unreliable Solana network experience.
In particular, Ethereum (ETH) stands as the most capitalized blockchain for Web3 and DeFi, with a $406 billion market cap. However, Solana mostly earned the market’s recent attention due to Ethereum’s poor user experience amid high fees and low scalability.
5 most popular Solana and Ethereum competitors:-
Therefore, users and investors can consider competing layer-1 protocols offering higher throughput and more efficiency, while keeping decentralization and security.
For that, BNB Chain (BNB), Cardano (ADA), Avalanche (AVAX), and Near Protocol (NEAR) are the market’s most popular choices. Each has over $87 billion, $21 billion, $18 billion, and $7.35 billion in capitalization, respectively. Making the top five Solana competitors sided with Ethereum.
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