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Fantom (FTM) Vs Solana (SOL)
Congestion, cost and complication. These are just some of the concerns associated with the crypto space due to the dominance of Ethereum. While Ethereum may be the most popular choice, these issues push more users to find alternative blockchains. The layer 1 blockchain competition is heating up and the contenders are two platforms, Fantom and […]
The post Fantom (FTM) Vs Solana (SOL) appeared first on ZebPay.
Congestion, cost and complication. These are just some of the concerns associated with the crypto space due to the dominance of Ethereum. While Ethereum may be the most popular choice, these issues push more users to find alternative blockchains. The layer 1 blockchain competition is heating up and the contenders are two platforms, Fantom and Solana. So how do they stack up and which one is better?
What Is Fantom?
Fantom is a layer-1 blockchain focused on scalability and cost-effectiveness. Like its competitors, Fantom wants to make it easier to access innovations like NFTs, smart contracts and other digital assets for ordinary users. This also extends to decentralized applications – or dApps.
The platform achieves its scalability through the use of separate blockchains and sidechains. Instead of every transaction being on the main “Opera” blockchain, developers can create independent blockchains. This makes dApps very responsive and reduces the strain on a single chain.
What is Solana Crypto?
Solana is another layer-1 blockchain that seeks to solve the problems that plague Ethereum. The Solana ecosystem makes it easy for developers to create unique experiences without worrying about network details. The network architecture ensures that dApps and smart contract performance is uncompromising and rapid.
The network does this by being one of the fastest blockchains on the market. Unlike Ethereum’s average transactions per second of 20, Solana can process over 60,000 transactions each second. This success is because of its novel “Proof of History” (PoH) consensus mechanism.
FTM Vs Solana
Here is a snapshot of few important metrics based on which a fair comparison can be made between FTM and Solana.
| Metrics | Solana | FTM |
| Start Date | 2020 | 2018 |
| Staking APY | 5% | 2% |
| Transaction Speeds(TPS) | 50,000 | 10,000 |
| Nodes | >1000 | 65 |
| Fees | <$ 0.01 | <$ 0.01 |
| Circulating Supply | 367,000,000 | 2,768,153,614 |
| Pros of Fantom | Cons of Fantom |
| Independent blockchains | It has a low market capitalisation |
| High speed and interoperability | Tough competition from Ethereum |
| Fantom’s main chain is compatible with Ethereum Virtual Machine |
Pros of FTM
- Independent blockchains give developers much deeper customization options.
- Sovereign blockchains do not come at the cost of speed or interoperability.
- The Fantom main chain – Opera – supports Ethereum Virtual Machine compatibility. It thus supports Ethereum’s smart contract features.
Cons of FTM
- Fantom has a much lower market cap than its competitors like BNB Chain and Solana at $570,567,000.
- As Ethereum upgrades and improves the network performance, Fantom’s use as an Ethereum alternative becomes uncertain.
| Pros of Solana | Cons of Solana |
| It is a unified network which makes it more secure | The number of validators on the network are few ( around 1000) |
| Super fast with speeds touching 60,000 TPS | It has faced several outages in the past |
| Very low transaction fee |
Pros of Solana
- Solana features a single, unified network without sidechains, layer 2 scaling solutions or sharding. This is meant to make the platform more secure and resistant to hacking.
- Solana is one of the fastest blockchains at over 60,000 transactions per second.
- Transaction fees on Solana are incredibly low, at just $0.00025.
Cons of Solana
- While Solana may process transactions fast, finalising and validating them takes 13 seconds.
- Solana has experienced 5 major and many partial outages in 2022, which is detrimental to network users.
Solana Vs Fantom: Use Cases
Both Solana and Fantom have very similar use cases. Both tokens can be used for transactions, payments of network fees and for earning rewards through staking. Thus, they are directly competing to gain ground in the same uses.
However, there is one major difference. Solana uses a unified network while Fantom is a collection of many independent blockchains. Fantom also supports the Ethereum Virtual Machine.
This makes Fantom easier for dApp developers already familiar with the Ethereum development environment. It also gives them more flexibility and simplifies the process of deploying a new blockchain for their applications.
On the other hand, Solana’s unified network may be better suited for network and data security. Since there are fewer vulnerabilities in a network with one blockchain rather than thousands, Solana may be better for some financial applications.
Conclusion
Both Fantom and Solana offer a compelling set of features. Fantom’s network of sovereign blockchains may be more appealing for dApp creation while Solana’s large user base and transaction speed may be what other users look for.
As long as these projects continue to innovate and improve their network experience, they both have a place in the future of crypto. Fantom and Solana are compelling alternatives to Ethereum and your choice depends on the ecosystem you prefer more.
You can now buy Fantom (FTM) and Solana (SOL) on ZebPay. Trade confidently with ZebPay.
FAQ on FTM Vs Solana
Is FTM Better than Solana?
It is difficult to state which project is better than the other. On one hand, Fantom has better interoperability and also supports Ethereum Virtual Machine. However, Solana is much cheaper and faster to use. Each has its own compelling features and your choice depends on your preferences.
What is the Purpose of FTM and Sol?
The main purpose of both FTM and SOL is to reduce Ethereum’s dominance in the Web3 space. By creating new platforms for dApps and smart contracts that improve on Ethereum’s weak points, they create worthwhile alternatives to Ethereum.
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ARB Protocol has huge growth of 882% in WTD period to become latest Solana sensation
ARB Protocol, a Solana-based automated decentralized Arbitrage protocol, has charted a massive growth leap of 882% over the week-to-date (WTD) period. At the time of writing, the token is changing hands on exchanges at a price of $0.004165.
Despite its impressive outlook, there are many indications that show that the growth of the ARB Protocol is, at best, superficial in nature. To begin with, the trading volume of the protocol has slumped by more than 66%, a showcase that not many investors are currently stacking up on the token, nor are there traders trading it as such.
With poor demand inversely proportional to the price of the asset, we can at least attribute the WTD momentum to the ecosystem hype about the growth of the protocol’s community. As announced by the outfit, the community on Discord just hit a new milestone of 1,000 members in what can be described as a relatively unimpressive ecosystem milestone.
ARB Protocol, has, however, been launching a series of staking products that might have truly transformed the perception of investors about the protocol as a whole. Should it be regarded as the dominant outlet for obtaining high staking yield on Solana, it may likely attract more of an embrace over time.
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Solana temporarily fizzles out
All of the highlighted basis for the growth and recent performance of the ARB Protocol are notably not what can drive truly sustainable organic growth for any token in today’s value-filled Web3.0 ecosystem.
With the positivity that surrounds Solana, ARB Protocol may be one of the well-publicized things fizzling out after Bonk, the meme coin still trying to make a comeback to incentivize its loyal customers. ARB Protocol is already occupying a pivotal position on Solana, and additional innovation and regular updates are among what could help drive it toward a profitable path in the near future.
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Beneath Part 107 of the Copyright Act 1976, allowance is made for “truthful use” for functions corresponding to criticism, remark, information reporting, instructing, scholarship, and analysis. Honest use is a use permitted by copyright statute that may in any other case be infringing.”
Solana’s upsurge being driven by sentiment of potential ecosystem growth
Solana (SOL) is returning to its winning ways with marked bullish growth today as there is a mixed-price action in the digital currency ecosystem. Solana is trading at a spot price of $23.32, up 7.30% over the past 24 hours, and by more than 16% over the past week.
For Solana, trending among the top-performing altcoins can be tagged as a regular feature as the protocol is one of the most robust in terms of ecosystem diversity. With its Decentralized Finance (DeFi) and Non-Fungible Token (NFT) ecosystem growing at a rapid pace, the demand for SOL has been rising, thus contributing to its current growth surge.
Solana has had a lot of trouble with its network stability in recent times and, at the moment, its current bullish outlook can also be attributed to the stability it has enjoyed over the past few weeks.
Solana is branded as one of the most versatile Layer 1 protocols, with the intention of unseating Ethereum (ETH) as the dominant smart contract hub. Though it still lags behind Ethereum on most metrics, its DeFi growth uptick is a sign that the protocol has a bright future.
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Grizzlython influence
In a bid to bootstrap the growth of dApps and smart contracts in its ecosystem, Solana launched a now-completed hackathon it dubbed Grizzlython. The Grizzlython was described as the biggest in the history of the protocol, and it witnessed more than 800 projects submitting proposals for consideration.
This impressive growth potential has been tagged as viable positivity to look forward to as it can herald a new era of innovative solutions that can drive increased adoption of the Solana protocol. The launch of some of the projects from the Grizzlython on Solana will create a new demand outlet for SOL, which is bound to be beneficial in the long term.
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Beneath Part 107 of the Copyright Act 1976, allowance is made for “truthful use” for functions corresponding to criticism, remark, information reporting, instructing, scholarship, and analysis. Honest use is a use permitted by copyright statute that may in any other case be infringing.”
Solana (SOL) has emerged as a force to be reckoned with in the crypto space, experiencing a remarkable surge in growth with a whopping 16% increase over the past week. This achievement can be attributed to the robust DeFi and NFT ecosystem built on the Solana protocol, which has been growing at an impressive rate, causing a surge in demand for SOL.
Despite its impressive growth, the Solana team has been grappling with network stability issues, which have posed significant challenges. Nevertheless, the protocol has demonstrated remarkable resilience and continues to rank among the top performers in the altcoin market.
The recent stability it has enjoyed is a testament to the team’s relentless effort to overcome obstacles, and its current bullish momentum indicates that SOL is poised for a bright future.
Growing Ecosystem and Diverse Use Cases
Solana has been trending among the top-performing altcoins, and this can be attributed to its robust ecosystem diversity. The protocol’s DeFi and NFT ecosystem has been growing at a rapid pace, leading to a surge in demand for SOL. Solana is branded as one of the most versatile Layer 1 protocols, with the intention of unseating Ethereum (ETH) as the dominant smart contract hub.
The protocol still lags behind Ethereum on most metrics, but its DeFi growth uptick is a sign that the protocol has a bright future. Moreover, venture capitalist Chris Burniske says that Solana (SOL) could be setting itself up for a massive move to the upside if it can clearly break the 200-day simple moving average (SMA).
Potential for a Massive Move to the Upside
Burniske, a former ARK Invest analyst and a current partner at venture capital firm Placeholder, says that a big rally may be in store for Solana if it can clearly break the 200-day SMA. SOL’s 200-day moving average is currently hovering at about $23, and if it can reclaim this level, it could lead to a significant surge in price.
Burniske has previously predicted that Solana could be the next “Ethereum-level” opportunity should another bull market happen. Placeholder tends to pick an ecosystem or two for each bear market and build an aircraft carrier strategy around that ecosystem. The last bear market was ETH and Bitcoin, but SOL could be the next big thing.
All Image and Text copyrights belong to their respective author at the
Source this is a syndicated feed of information for educational purposes.
DISCLAIMER:
Beneath Part 107 of the Copyright Act 1976, allowance is made for “truthful use” for functions corresponding to criticism, remark, information reporting, instructing, scholarship, and analysis. Honest use is a use permitted by copyright statute that may in any other case be infringing.”
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