Currently, Ethereum is the second-largest crypto in the market. Ethereum introduced smart-contract functionality, making user adoption go beyond simple transactions. However, even Ethereum suffers from limited transactions per second. Transactions in the network are slow and gas fees rise to very high levels. This limitation gave rise to Cardano and Solana, dubbed Ethereum killers. This article will compare these crypto tokens to know which one is the best buy in 2022.
What is Solana crypto?
The Solana blockchain was introduced to the market in March 2020. The underlying architecture is based on a white paper written by Anatoly Yakovenko in 2017.
When it comes to blockchain transactions, the time factor is usually not taken into account. Older transactions can be added after the new ones to the block, causing issues during validation. The Solana network uses a unique consensus system known as proof of history to solve this issue.
Proof-of-history synchronizes time across the blockchain network. This consensus mechanism also makes transactions much faster compared to older blockchains. Faster transactions boost the efficiency and scalability of Solana. The Solana network also uses a proof-of-stake system for network security.
SOL is the native token of the Solana blockchain network. Users can stake their crypto tokens on the Solana blockchain. By allowing users to stake tokens, Solana secures its network by adding more validators and rewarding them for staking.
What is Cardano Crypto?
In 2017, Charles Hoskinson, co-founder of Ethereum, launched the Cardano blockchain network. Cardano is a third-generation blockchain network. This blockchain seeks to unshackle the limitations of the first and second-generation blockchains that came before it. The upgrades and development of the Cardona network are based entirely on academic research.
Cardano improves the Bitcoin network by adding support services for decentralized applications (dApps) and complex deal settlements. This new blockchain improves the scalability of the network, which is an issue for Ethereum. Cardano uses proof-of-stake rather than proof-of-work to secure its network.
There are five categories in the development of Cardano.
- Byron: Foundation
- Shelley: Decentralization
- Basho: Scalability
- Goguen: Smart contracts
- Voltaire: Governance
All the work on different stages takes place simultaneously, but updates are made sequentially to the blockchain.
Features of Cardano and Solana
Which is better?
Solana and Cardano are great alternatives to older blockchains such as Bitcoin and Ethereum. Solana seems to be the better choice over Cardano at the moment. It is better than Cardano because of its higher transaction speed and lower fees.
Besides, Solana is the second most popular blockchain for NFTs after the Ethereum blockchain. With more network upgrades, the Cardano network can catch up with Solana. As of 2022. the Solana network seems to be the better option.
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