- Solana can perform over 50,000 transactions per second (TPS).
- Cardano has spent a lot of effort developing real-world partnerships.
Ethereum (ETH) is the second most valuable cryptocurrency, with a price gain of almost 150,000% since its introduction in 2015. However, its 500 percent increase since January 1 pales in contrast to currencies that have gained nearly 5,000 percent.
First-mover Ethereum still hosts most apps. In other ways, its success has hurt it. There is network congestion and expensive transaction costs. As a consequence, newer, quicker, and cheaper systems — dubbed Ethereum killers — are circling. And their prices have risen dramatically this year.
Solana (SOL)
Solana’s year maybe 2021. Over 11,000% since January 1 for the ultrafast smart contract platform. It is also a programmable blockchain, and it now contains over 500 projects ranging from NFTs to DeFi applications.
Investors, interested in Solana because it can perform over 50,000 transactions per second (TPS) for pennies apiece. To put it in perspective, Ethereum currently processes 15-45 TPS until it can upgrade to Eth2. Costs vary based on network traffic but may exceed $100.
Cardano (ADA)
Cardano is a programmable blockchain that differs from many others. Its development is peer-reviewed before deployment, and development has been slower than comparable projects. It just released smart contract functionality in September.
In principle, Cardano, meant to stay, which is why it is one of the top cryptocurrencies by market cap and has gained about 1,000% this year. Cardano has also spent a lot of effort developing real-world partnerships and use cases. For example, it works with Ethiopia’s Ministry of Education to keep student data on the blockchain.
Polygon (MATIC)
Both Solana and Cardano are layer one solutions, means embedded into the original blockchain. To overcome Ethereum’s difficulties, another set of cryptocurrencies termed layer two solutions, was created.
Polygon is a leader in this industry, resulting in a 9,000% increase this year! To boost Ethereum’s speed, it claims to be a layer two solution aggregator. Since there is no universal solution, developers may select the path that best suits their project.
