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That’s why Solana (SOL) is still the number one Ethereum (ETH) competitor, according to InvestAnswers

A popular crypto analyst highlights the reasons why he believes that Solana (SOL) is still the top Ethereum (ETH) Challenger.
The anonymous host of InvestAnswers tells its 436,000 YouTube subscribers that its “Day One Thesis” was that SOL belonged to Ethereum Hedge as it believes Solana to be the only potential “ETH killer”.

He notes that SOL is less than 1/12 of the market capitalization of ETH, but “it does a lot of things”.

The analyst also outlines Solana’s potential advantages over Ethereum.

The strength of Solana and the reason I still like it is that they have the widest range of DApps [decentralized applications] from every chain out there. They have exponential acceptance. Fast, cheap, scalable. Despite failure…

It also has Rust, the most preferred development language that drives most development activities in each chain. 65,000 [transactions per second]. Layer-2s are not required, and SOL DApps have more daily active users than Ethereum DApps, which is kind of mind-blowing because Ethereum has about 3,000 DApps and SOL has about 750.”

The analyst points out that Solana’s defaults are a potential problem. Solana suffered a network outage in late April when the project’s mainnet beta cluster “stopped producing blocks due to a stalled consensus,” according to it Solana Labs.

The outage comes after Solana patched network and performance issues that were previously known in December and January, as well as an earlier outage last September.

The host of InvestAnswers also notes that Solana has a higher inflation has as Ethereum.

He notes Ethereum’s advantages include larger size, earlier launch date, and higher adoption rate. He adds that Ethereum also has the most validators, is more decentralized, and handles less regulatory risk.

Solana’s native asset, SOL, is trading at $65.51 at the time of writing. The seventh crypto asset by market cap is down more than 14% in the past 24 hours.

Check the price action

Source: Crypto News Deutsch

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