The most valuable crypto projects in the market are those offering some practical applications and technology that is used in other projects. This article will be about the SOL crypto project and Polkadot. Let’s find their similarities and differences.
Let’s begin with Solana.
Solana’s Main Features
Solana blockchain is the basis for numerous decentralized apps, NFT marketplaces, blockchain games, and smart contracts. This network gained incredible popularity and caught the attention of hundreds of developers with its features:
- high throughput;
- low commissions,
Solana is the ecosystem where developers mainly create smart contracts and program thor applications and products. The network aims to surpass popular centralized companies and marketplaces such as Nasdaq.
Crypto Solana serves for smart contracts execution. it is traded throughout crypto platforms. SOL coins can also be staked. Solana is based on the Proof-of-Stake mechanism.
Polkadot was also developed on the Proof-of-Stake mechanism and is much more environmentally friendly than early cryptos such as bitcoin and Ethereum (which also switched to the PoS mechanism recently). Polkadot aims to solve the crypto industry’s main problems – sustainability and interoperability. It is also a blockchain that allows the development of smart contracts.
Polkadot vs Solana
Both platforms have numerous partners and clients and good future prospects. For example, the most popular NFT marketplace, OpenSea, cooperates with Solana and uses SOL crypto.
In terms of throughput, Solana overperforms Polkadot, for Solana performs 65 000 operations per second, compared with 1000 transactions in Polkadot.
Regarding sustainability, Polkadot is better, for it has the lowest carbon footprint, which Soana even does not come close to.
Both coins are traded on large crypto platforms such as WhiteBIT, Binance and others. The exchange also offers crypto lending, where you can stake coins and receive a passive income.