A popular crypto analyst has claimed that Solana (SOL) blockchain remains the fiercest Ethereum (ETH) competitor, supporting his claim with several reasons.
The pseudo-named host of InvestAnswers told his YouTube followers that the Solana blockchain is the only smart contract network with the framework and capabilities to challenge Ethereum, the biggest smart contract network truly.
In his statement, the anonymous analyst pointed out that only Solana has less than 1/12 of Ethereum’s current market valuation and is doing many innovative things.
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.”
Constant network outage: the only potential problem
While the popular crypto analyst strongly believes that Solana has what it takes to push Ethereum, he highlighted potential issues with the blockchain. According to him, outages occasionally experienced by the Solana network are its potential issues. Sited an instance of the late April outage suffered by the blockchain project 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.
The popular crypto analyst also pointed out the key advantages Ethereum has over the project. According to the expert, Ethereum’s advantages include its larger size, earlier launch date, and higher adoption rate. He finally added that Ethereum also has the most validators, and it is more decentralized with less regulatory risk.