Solana (SOL) vs Polkadot (DOT): Features and Perspectives (Coindoo)
Decentralized applications (dApps) have found their application in different directions: online games and virtual casinos to financial projects. A common problem for developers and users is the speed of the network bandwidth. The most common blockchain for dApps is Ethereum. However, the increased demand is overwhelming the platform. The race for performance leads to the emergence of new projects. Among such projects, Solana and Polkadot are the most popular. Let’s compare these projects and Polkadot with the DOT token vs. Solana with the SOL token.
Distinguishing Features of Solana and Polkadot
Solana cryptocurrency has many features that make it stand out among hundreds of other digital assets:
- The architecture is theoretically capable of processing up to 710,000 transactions per second. So far, a result of 60,000 operations has been achieved. But even this figure makes it one of the fastest videos to use.
- The network is designed so that it can easily handle growing workloads. Several technological innovations, including the original Proof-of-History protocol, make this platform a flexible and highly scalable tool.
- The project has made savings in audience size. In 2021, several hundred thousand users will be using the Solana network in November. Thanks to this, it was possible to maintain a low price for transactions within the system and in decentralized applications on the site’s platform.
- A high degree of compatibility is achieved by eliminating the need for users to deal with shards or second-level systems. Solana can interact with other crypto platforms as well.
Polkadot features that make this project stand out in the cryptocurrency market:
- Fast transaction processing by distributing operations across parallel parachains.
- It is based on a completely decentralized network—user control.
- Simplified creation and connection of DeFi services.
- High interoperability. It is possible to interact with all parachains that are included in the network. Free transfer of assets and any data is carried out.
- No need to hard forks to implement updates.
- Providing complete security for all blockchain projects connected to the network.
The Future and Prospects of SOL and DOT
Serious partners believe in the Solana project. For example, in early June 2021, Solana raised more than $ 314 million through a private token sale. Significant investments followed from Andreessen Horowitz. This firm once invested in other well-known projects (Skype, Facebook and Twitter).
Time will help to understand the platform’s applicability. As of July 2021, the system works in test mode, which does not cause failures. For example, the incorrect operation of the blockchain eight months ago led to the stoppage of all services for 6 hours.
Polkadot is a promising digital currency that has not yet reached its maximum price because the project is under active development. In 2021, according to the Roadmap, ideas and services will be implemented that will positively affect the course. Large companies and developers will start buying tokens for free “slots” on parachains to become part of the decentralized ecosystem. This can lead to the growth of the system.
The outlook for dot vs solana depends on the amount of blockchain used. The number of their partners is growing. But so far, the projects remain at the level of a startup with good potential.
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