- Ben Armstrong concludes Solana and Elrond can be game changers in the crypto market.
- Armstrong says SOL and EGLD have the unique blockchain platform.
Cryptocurrency trader and analyst Ben Armstrong concludes that the fight for dominance among smart contract blockchains is well underway. Besides, Solana (SOL) and Elrond (EGLD) can be game-changers in the crypto market.
In a video, Armstrong says Solana (SOL) and Elrond (EGLD) are the unique blockchain platforms that could “possibly unseat the big boys.” Such as Ethereum (ETH), Cardano (ADA), Polkadot (DOT), and Binance Smart Chain.
Moreover, the cryptocurrency trader says Solana beats the two biggest blockchain networks by market cap handily in speed and scalability. With a processing capacity within 50,000 to 65,000 transactions per second and a theoretical limit of over 700,000 per second.
In fact, Armstrong adds that Solana also processes thousands of smart contracts simultaneously without sacrificing efficiency. With its low transaction fees, this is why FTX founder Sam Bankman-Fried (SBF) launched the Serum decentralized exchange on the Solana blockchain.
With a cost of only $10 per 1 million transactions, you can see why dApps developers everywhere are so keen to jump on board. SBF chose Solana for the Serum DEX precisely because it was the fastest smart contract crypto market.
Per Armstrong, one of Elrond’s most vital selling points is its speed and developer-friendliness. In addition, it can write smart contracts in various programming languages since it supports an open-standard format known as WebAssembly.
Elrond can handle many transactions at scale to the tune of a mighty 15,000 per second.
Furthermore, Armstrong adds that other appealing features of Elrond include a fixed supply and a strong community supporting the project.