What Is Its Future?
Its rising popularity led the Solana token to soar in value and received a huge $314 million in funding from investors including Polychain Capital, a crypto hedge fund. Solana’s network allows for a theoretical throughput of 65,000 transactions per second, which is much higher than Bitcoin’s seven transactions per second and Ethereum’s 15 transactions per second, and transactions cost a fraction of the price of other blockchains, averaging at $0.00025.
Solana may face some critical setbacks primarily because of the notion that it is a competitor to Ethereum. According to experts, if Ethereum performs consistently without hitting a severe technical snag or mismanagement from the administration’s end, its position will remain strong. As of now, the platform is widespread and well rooted and its ouster is unlikely.
Nevertheless, that does not imply that there is no margin for other competing blockchains to give Ethereum a run for its money in the coming years. Solana is currently one of the several underdogs aiming to challenge the pack leader, but it has had a head start in these early days thanks to technical superiority, savvy associations, and an enduring vision.
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