The bull market in 2024 will come with the surge in the Solana ecosystem and SOL. As a blockchain platform for decentralized applications (DApps) and cryptocurrencies, Solana uses a consensus algorithm called POH to implement the underlying technology. From this point of view, it and ETH are destined to become rivals.
Will the next hot spot be the new Solana ecosystem or the ETH Cancun upgrade? In this regard, Brother Sanqian believes that the potential of the old ETH will be greater for the following reasons:
1. The development of the Ethereum ecosystem has been very complete in the last bull market, and it still maintains a very high degree of consensus in this bull market. As the second largest currency in the currency circle, ETH has also hit new highs repeatedly in this bull market, and its popularity is unparalleled. match;
2. The important upgrade in Cancun is: Blob trading. This brand-new technology adds an additional temporary storage area to the blocks in the ETH main network, so that L2 transactions can be processed separately, which is very likely to reduce transaction costs on the L2 chain again;
3. After several years of iteration and development, the Ethereum ecosystem has achieved high security and is still being improved. In the currency circle, security has always been the Sword of Damocles hanging over everyone’s head. The return to zero of LUNA directly created a black swan;
4. Ethereum’s technology has matured, bringing many priority supporters. Many established platforms will be the first to support, access, and optimize the Ethereum network, playing a strong leading role.
But in the final analysis, it is not spring when a single flower blooms, but when a hundred flowers bloom, the garden is full of spring. The development of the Solana ecosystem has also brought many bull market trends. We hope that various ecosystems in the currency circle will bring more potential vitality to the market.
