A popular crypto analyst has recently highlighted the reasons why Solana (SOL) remains the top Ethereum competitor.
The anonymous host of InvestAnswers told his teeming YouTube subscribers that he sees Solana (SOL) as the only blockchain platform that has the potential to challenge Ethereum, the largest smart contracts platform.
InvestAnswers’s host said although SOL only has less than 1/12th of Ethereum’s market valuation, it’s doing a lot of stuff. He also outlined the potential advantages that Solana has over Ethereum (ETH).
Host of InvestAnswers noted:
“The strength of Solana, and the reason why I still like it, is that they have the most breadth of DApps [decentralized applications] of any chain out there. They have exponential adoption. Fast, inexpensive, scalable. Despite the outage…
“It also has Rust, the most preferred developing language that’s driving the most development activity on any chain. 65,000 [transactions per second]. No need for layer-2s, and SOL DApps have more daily active users than Ethereum DApps, which is kind of staggering, because Ethereum has about 3,000 DApps and SOL has about 750.”
Solana Outages Are Potential Issues
According to the analyst, outages occasionally experienced by the Solana network are its potential issues. For instance, in late April, the blockchain project suffered a network outage after its mainnet beta cluster stopped producing blocks due to stalled consensus.
The analyst said Solana has higher inflation than the largest smart contract platform Ethereum.
Speaking about Ethereum’s advantages over Solana, the InvestAnswers host noted that Ethereum’s advantages include its larger size, earlier launch date, and higher adoption rate. He added that Ethereum also has the most validators, and it is more decentralized and deals with less regulatory risk.