Solana was brought into the tech world as a remedy for major pain points of well-known blockchains such as Bitcoin and Ethereum. The most renowned Ethereum-based platforms are OpenSea, Axie Marketplace, CryptoPunks, and SuperRare.įlow vs Ethereum - how different are these two blockchains? Find out now! Introducing Solana These are unique and can be issued, sold, and purchased on special NFT marketplaces. While ERC-20 is a class of identical tokens, the ERC-721 standard forms the basis for non-fungible tokens. The popularity of Ethereum is also driven by the recent boom in non-fungible tokens (NFTs). Top crypto projects include Tether (USDT), Basic Attention Token (BAT), USD Coin (USDC), ChainLink (LINK), and Dai (DAI). According to Etherscan, there are more than 460,000 token contracts based on ERC-20. In addition to this, the blockchain hosts other tokens using its ERC-20 standard. The other major blockchain of the time was Bitcoin, but its capabilities were limited only to the issuance of virtual currency.Įthereum features its own crypto called Ether (ETH). These features have made Ethereum a true innovator in the blockchain world. These days, Ethereum is the most widely used blockchain system because it makes it possible to create and run applications, smart contracts, and tokens. Since he wasn’t an actual developer of Bitcoin and couldn’t influence the way it was designed, Buterin decided to create a new platform and programming language in order to extend the technology’s capabilities. He was fascinated by Bitcoin and its underlying technology but was convinced that it needed a flexible scripting language to develop applications. Vitalik Buterin, co-founder and inventor of Ethereum, first described his idea of a new blockchain in a white paper in 2013. The question is what is the difference between these two blockchains and how possible is it for a newcomer to become the blockchain familiar to most developers and the crypto world in general? Let’s find out! Briefly about Ethereum As of November 4, 2021, its market cap is $537 billion and 1 ETH is worth $4,540.63. ![]() Launched in 2015, it is already considered an industry veteran. The same thing happened with Solana’s market capitalization, which at the beginning of the year was $85.8 million, and by November - $72,7 billion. SOL’s price has witnessed a significant increase: on January 1, 2021, SOL was worth $1.51, and on November 4, 2021, you could buy one coin for $240.29. The blockchain was launched not so long ago, in March 2020, and made headlines in numerous media outlets due to its unique features and, of course, growing value. But does Solana really have the potential to take over the DeFi sector?Įxcitement about Solana and its SOL cryptocurrency is quite understandable. Ethereum killer, Bitcoin rival, and industry disruptor - these three phrases are frequently used in relation to the Solana blockchain.
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