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A popular crypto analyst examines how one emerging blockchain designed for scalability compares to leading smart contract platforms.
In the new video, the anonymous host of InvestAnswers Offers An in-depth analysis of his 444,000 YouTube subscribers and Ethereum (ETH) compared to rival Solana (SOL).
Hosts first consider technical metrics as the number of transactions per second (TPS) and decentralized applications (DApps) built on their respective blockchains for each project.
“Solana wins TPS. Solana is still cheap, but the fees are a tie. Technology, I believe Solana is better even with bugs [and] It’s still in beta.
Ecosystem, Ethereum has the edge. It has been around for a long time and there are many more.
Daily active users and breadth of DApps, Solana’s slight edge. So Solana is the winner.
Analysts looked at the overall market cap and found that Solana’s significantly smaller size compared to the valuation of Ethereum and blockchain scaling solution Polygon (MATIC) suggests that SOL is significantly undervalued relative to ETH. It is pointed out that it suggests that
“This is a million dollar question. When you look at value hunting… you discover something like Tesla [and] Google before they make a big run, that’s the key here.
If you want to see the relative value of this asset compared to other assets, just look at the market capitalization. The combined market capitalization of Ethereum and MATIC is more than 17 times that of Solana. 17 times more? No, it’s my thesis.
The InvestAnswers host then digs into what makes up each project’s ecosystem, starting with Ethereum way back in 2015.
Ethereum has a vast ecosystem. I would say it is more than three times the size of the Solana ecosystem. Being a platform, it has had a big head start by almost 5 years over all other protocols in the smart contract space, the layer 1 space
Ethereum’s long-term strategy is very significant because the technology is not only disruptive, but is based on a platform with incredible growth potential and has the largest development community of all cryptos. is advantageous to
Analysts say Solana, which was founded in 2017 and created its first block in 2020, is still in its early stages despite its rapid growth as a top 10 cryptocurrency. . He expects the project to continue to mature and gain more market share from Ethereum.
But Solana is catching up on this front. [of it] Still very early stage, TVL has about $1 billion [total value locked]I think it’s currently at $1.4 billion or something, which is small compared to Ethereum’s $35 billion.
At the time of writing, Ethereum is up 7.74% on the day with a price of $1,530. Solana is trading at $31.96, he’s up nearly 7%.
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