Are you a crypto enthusiast that has been in crypto for a long time? Then you may have come across the term ‘Ethereum’. It is considered the ‘queen of cryptocurrencies’ and this open-source blockchain community has become a niche. However, with the introduction of Solana, there has been a fair choice to assume that Ethereum will continue to lead the crypto world in the upcoming years. In recent times, Solana is receiving a lot of attention owing to its potential, high scalability, advanced technology, and usability. In this article, we will elaborate on the different aspects that set Solana apart from Ethereum so that crypto enthusiasts can easily choose the right one for their blockchain project.
Are you looking to develop a blockchain project? In order to arrive at a conclusion, you need to acknowledge the different factors relating to Solana as well as Ethereum.
Introduction to ethereum & solana
Ethereum is considered the second-largest cryptocurrency in terms of market capitalization. Besides being an open-source blockchain system it comprises its native cryptocurrency called ether. It serves as a powerful platform for other cryptos and assists in the implementation of decentralized smart contracts. Since the official launch of Ethereum, it has undergone many updates.
Ethereum has served as a blockchain ether platform for various other cryptos. The main objective behind developing Solana is to create a permissionless protocol that allows high scalability. Accordingly, Solana always considers itself the most performant blockchain in the crypto space.
Founded in 2017 Solana is an open-source decentralized blockchain. Solana provides secure, rapid, and decentralized app platforms to users. Additionally, it has managed to evince a raise of $25 million in different sales verticals. Since its launch, it has begun to be the fastest growing blockchain ecosystem in the blockchain world.
It garners the field of different renowned crypto companies such as CMCC Global, Chainlink, and many more. Solana, when considered under optimized conditions, has the potential to tackle over 65000 TPS. And this is performed with minimal block timing and low network fees. One of the best perspectives that have resulted from this is that blockchain accomplishes these characteristics without impacting latency, UX, and composability.
Why is solana different from ethereum & what sets it apart?
Many factors are responsible when it comes to setting Solana apart from Ethereum. With its multifold breakthrough solutions, it has become one of the best performing blockchains in the world. The experienced developers have integrated new features which helped it reach an incredible level of performance and speed.
With a view to obtain a clear notion of the technology used to create Solana, it is important to acknowledge the blockchain scalability trilemma.
In any kind of blockchain decentralization, security and maintenance, the trilemma can be delineated with the three attributes. In the trilemma environment, the two attributes can work optimally however at the expense of the third factor. This lays the foundation of the trilemma stating high security and high decentralization at the cost of compromising on scalability.
Based on the usage of the blockchain each blockchain system has its unique trade-off. However, this is not the scenario with Solana. Solana is the best solution for the blockchain environment as it is a highly decentralized platform with high security and scalability. And this factor has made it immensely popular among crypto professionals. This innovative approach to crypto has been accomplished via the PoH consensus algorithm.
Read more: The Evolution Of DeFi 2.0 And Why Does It Matter
How does ethereum differ from solana?
Ethereum was developed to administer Dapp developers with a trustworthy and safe network to work within. The system added smart contract scripting uses to blockchains that advanced the ultimate usability and functionality of cryptocurrencies. Experienced developers can make effective usage of Solidity, C++, Python, Java, JavaScript, Ruby, and so forth.
On the other hand, Solana was developed to help network developers with higher scalability as the main focus of the project. It enables the optimization of the network for improving responsiveness. Thus it helps in creating powerful Dapps with larger computations and cost-effective charges.
It's time to take a look at the distinct aspects of Solana and its unique features.
Features of solana & how it is different from ethereum
Consensus algorithm
The most relevant feature of Solana is enabling the integration of ground-breaking PoH or Proof of History mechanism consensus algorithms. It permits the blockchain to seamlessly scale while it remains in running condition. The PoH consensus system helps users to access a digital record. This, in turn, provides proof of the occurrence of a situation or event during a time.
Significantly, it operates in the way of a cryptographic clock that helps to assign a unique timestamp to each event in addition to the data structure. As per the latest reports, it has been studied that Solana has a block time of 400 to 800 milliseconds with a transaction fee of nearly 0.0000005 SOL.
Ethereum, on the other hand, uses a Proof of Work or PoH system that is quite similar to Bitcoin. It was creating a new algorithm for preventing centralization from occurring in the Bitcoin mining sector. At the very outset, the concept was working however it significantly reduced the number of ASIC miners on the network and led to proof of stake as time progressed.
Tower BTF aspects
The concept is quite similar to the PBFT or Practical Byzantine Fault Tolerance consensus system. In Solana, it is regarded as a vital mechanism as it leverages the PoH clock. Thereby it allows the network to complete an agreement without time delay.
Turbine
Turbine in Solana is delineated as a block propagation system that can be optimized for broadcasting shreds to network nodes. It uses the UDP system or User Datagram protocol. This feature assists Solana to accomplish low latency and loss tolerating connections amidst Internet applications.
Solana cluster
Solana cluster is a set of independently owned computer systems. It has the capability to track the belongings of real-world assets. Additionally, it has the potential to track which validators have performed meaningful work for keeping the cluster seamlessly connected and running. It verifies the output of user-submitted programs.
Solana’s gulf stream
Solana’s Gulf Stream is referred to as the Mempool-less forwarding system. Mempool is a complete set of transactions submitted and yet to be processed by the network. The Solana validators are capable of managing a Mempool size of 100000.
Cloudbreak and pipelining
The cloud break feature of Solana enables it to access and interpret data simultaneously utilizing older versions keeping a backup. Pipelining comprises the hardware framework in Solana that directs transaction info into designated hardware. As a popular reordering methodology in CPU design, it allows the building of different stages for every hardware to complete the tasks in a process of a pipeline of stages.
Sealevel & Archivers
Sealevel in a Solana refers to the system that is established on the principle of parallel smart contract implementation. The use of smart contracts in Solana is unlike other cryptos and enables the promotion of parallel execution of transactions in Solana’s single layer of blockchain. It assists in improving the performance levels in the network. These are different hardware structures that work with pipelining and also act as Solana’s distributed ledger store for petabytes of network data storage.
Comparing solana and ethereum
Solana and Ethereum blockchains have some key similarities such as they are open-source, decentralized, and public blockchain protocols. Additionally, they have the capability to work with a distinct plethora of applications.
Contrarily, when it comes to several other factors of scalability and performance potential, Solana and Ethereum are completely poles apart. Several blockchain concepts like DeFi or Decentralized Finance and NFTs or Non-Fungible tokens are mostly dependent on Ethereum for its functioning. Concerns regarding Ethereum come majorly over network congestion, scalability, and slow processing time. Additionally, many Ethereum users have to pay fees for simple transactions.
On the other hand, Solana is created in a way that can tackle greater computational power than Ethereum. The unique blockchain architectural framework of Solana helps in preventing sharding. Take a closer look at the different advantages and disadvantages of Solana and Ethereum in order to have a better understanding of blockchains.
Pros of solana
- Faster processing power
- Nominal fees
- High scalability
- Potential for progressive innovation.
Cons of solana
- Having less than 200 validators
- The community only owns 33.9 of the total supply
- The distribution and emissions schedules are not at all attractive
Pros of ethereum
- Wider adoption
- Modular
- Quite versatile
- Having different token standards
Cons of ethereum
- Higher costs
- Lower speed & scalability
- Barrier for entry
Conclusion
All together we can see Solana’s advantages over Ethereum and even if the platform of Ethereum is vast and bigger than it is lacking a few things in the blockchain space. Solana is the best solution having high throughput and affordable gas fees. Nextbrain is the leading blockchain development company in India that has created innovative blockchain solutions for businesses and enterprises. Many companies have begun to rethink Solana as the best alternative to Ethereum.
Saran
May 03, 2022 Author