- SOL provides a better Return on Investment compared to ETH.
- Solana Founder Anatoly Yakovenko claims that ETH’s PoS is not good enough.
- Yakovenko came up with a big idea called Proof of History.
- However, SOL is not interested in competing with ETH.
Solana (SOL) founder Anatoly Yakovenko argues that Ethereum (ETH) ‘s Proof of Stake is not good enough. Yakovenko made the claim in a recent blog post on Techcrunch. As a result, Yakovenko came up with a big idea called Proof of History.
Yakovenko spent more than a dozen years as an engineer working at Qualcomm on wireless protocols. Moreover, he focused on creating a huge plan on historical data to speed along ‘consensus’. The protocol enables blockchain decisions to be on a peer-to-peer system.
However, Solana has also innovated other ways that include forwarding transactions to the validator prior to the previous set of transactions finalized. This helps increase confirmation speed, and boost the number of transactions that could be handled. Even so, Solana is not a widely known project outside the crypto community. Besides this fact, many other people find this project interesting.
The blog post adds,
In recent interviews with both investor Garry Tan of Initialized Capital and CEO Joe Lallouz of the blockchain infrastructure company Bison Trails, both mentioned Solana as among the projects they find most interesting right now.
Solana Aims to Completely Disrupts Wall Street and Global Markets
Solana is an open, fair, censorship-resistant global marketplace. The platform currently has 608 validators supporting secure Solana Network. In addition, Solana currently powers over 47 Decentralized Applications (DApps).
Meanwhile, there were reportedly 33,700 active validators supporting to secure “Eth 2.0” as of late December and 3,000 DApps running on the ETH blockchain as of February.
Furthermore, Yakovenko explained that Solana is not interested in competing with ETH and other cryptocurrencies. All it aims is to fully disrupt Wall Street and the rest of the global markets. Yakovenko added that Solana is better than anything inside of the New York Stock Exchange or any other way of settling trades.
Solana Beats Ethereum Through Return on Investment
Ethereum has a three-year head start on Solana, as the ETH network went live in 2015. Notably, the market capitalization of SOL and ETH are $13.6 billion and $401.5 billion respectively.
Solana’s Return on Investment (ROI) is huge compared to Ethereum, based on price analysis. Let’s consider that an investor invested $1000 both in SOL and ETH on January 01, 2021. At that time the price of SOL and ETH were $1.52 and $738 respectively.
However, the investor could have purchased 1.36 ETH and 657.89 SOL.
However, the recent cryptocurrency price surge created high profits for investors. According to CoinGecko, the SOL and ETH price is $50.87 and $3,511 respectively, at the time of writing. This means investors gained a profit of $3,731 in ETH and $31,894 in SOL. As such, this shows that SOL offers a higher ROI compared to ETH. Also, this indicates that SOL has a fantastic future ahead.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.