Vitalik Buterin, co-founder of Ethereum, believes that a blockchain cannot have all the properties of decentralization, security and scalability at the same time. This situation is known as the scalability trilemma. One of these qualities must be compromised. Consider, for example, Bitcoin's tier 1 network. This compromise is the crucial difference between Solana and Ethereum. Because Ethereum focuses on security, while Solana prioritizes scalability.
The #BTC network is highly decentralized between a large number of nodes and is therefore very secure. However, the chain can only handle about seven transactions per second (TPS). In short, the scalability of a platform like Bitcoin decreases as the number of users increases. This is a good example of the scalability trilemma. This is where the new #blockchain technology #Solana comes to the rescue.
The Solana protocol is based on historical evidence and works in conjunction with stake evidence in reaching consensus. It is therefore energy efficient, very fast and very cheap, and aims for mass adoption.
If we compare the battle between Solana and #BTC , the latter is the most popular blockchain and is backed by its native cryptocurrency #BTC .
Ethereum was originally mined by miners who compete to solve complex mathematical problems to validate transactions and create new blocks on the network. This is known as "Proof-of-Work" or PoW. However, in September 2022, Ethereum switched from a PoW consensus mechanism to a Proof-of-Stake (PoS) mechanism in a "merge" update.
Here is an extensive article by DroomDroom on how these consensus mechanisms, Proof of Work and Proof of Stake, differ.
What is Solana?
In an extensive research article titled "Supply Chain Tracking Prototype Using Solana as Blockchain and IoT," the authors specified certain characteristics to choose the best blockchain for their tracking prototype. After considering several blockchains, they opted for Solana. Are you curious to know what these characteristics are? Let's list them:
Transaction fees usually depend on the size of the transaction. In other words, the larger the transaction size, the higher the transaction processing fee. In other words, the larger the transaction size, the higher the transaction fee.
Blockchain can speed up data processing, i.
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