- Solana has to overtake Cardano to claim it as an Ethereum killer.
- Solana is around 3,800 times faster than Ethereum.
- For Solana, it is more difficult to overtake Ethereum
Solana, a competitor to Ethereum which has gotten a lot of buzz recently. Solana has more than 250 projects in its ecosystem, with partners like USDC, Chainlink, and Serum. Solana seems to be similar to Cardano Killer than in an Ethereum realm.
Furthermore, Cardano positioned in 3rd place by market cap. But Solana is in 7th place. So, if Solana wants to claim to be an Ethereum Killer, it has to overtake Cardano in market cap.
Solana is known as a fourth-generation blockchain. More so, Solana is around 3,800 times faster than Ethereum and it costs nearly $0.00025 per transaction, compared to Ethereum’s average of $6.498 per transaction. Speed and transaction costs are both crucial for blockchain technology’s real-world use cases and future adoption.
Furthermore, one of the major investors in the token sale, Polychain Capital, believes Solana is complementary to Ethereum, not an Ethereum killer. Eventually, Cardano founder and a co-founder of Ethereum, Chares Hoskinson might also say the same about this blockchain technology.
The founder of Cardano, Charles Hoskinson, often jumps first to mind when it comes to Ethereum killers. Cardano is a public, open-source blockchain for building dApps and for running smart contracts, with the latest feature still in development.
Ethereum has a clear first-mover advantage compared to Cardano, but its scalability and performance-related issues started driving away companies and developers. So, whether this is enough for Cardano to take its place is unpredictable.
In addition, the race for the second most popular protocol will be based on the successful implementation of their updates, and the several technical difficulties each network faces during the rollout.
Finally, Solana may provide significant utility and it might also move high over the next year, but there is only less chance to override Cardano. And for Solana, it is more difficult to overtake Ethereum. In comparison to Solana Cardano seems to be a better Ethereum killer. But this thought might also change in the forthcoming days. Meanwhile, Cardano will play an important part in the growth of decentralized finance (DeFi). But overriding won’t happen without a few strikes. But it might get there.