Ethereum killer, Bitcoin rival, and industry disruptor — these three phrases are frequently used in relation to the Solana blockchain. But does Solana really have the potential to take over the DeFi sector?
Excitement about Solana and its SOL cryptocurrency is quite understandable. 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. 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 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. Impressive, right?
Meanwhile, there is Ethereum. Launched in 2015, it is already considered an industry veteran. As of November 4, 2021, its market cap is $537 billion and 1 ETH is worth $4,540.63.
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!