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Will Solana flip Ethereum?

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Anything related to bitcoin, crypto, blockchain

adirk1

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As you all know Solana helps with providing smart contracts like Ether, but it's doing faster (x10000) and with almost no gas fee like the Ether which is a gas killer these days. But still Sol is not that close to Ether in its market cap, some say Sol wll flip Ether, some say it won't and some don't know, and some say Ether will kill Sol when the 2.0 version of it will come out?

What do you think and why do you think that way? Please provide explanations to your answer, I'm still new to this world and looking to know the coin battles better.
 
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Disciple96

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Solana and Ether are both CronyCoins so it's no bother to me but I seriously doubt something with the network effects of Ether, the most popular altcoin, will be "flippened" by Solana, which comes no closer to living up to the promises of ETH
 

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In time I think SOL will flip ETH, off of the basis that SOLs TPS is 65,000 to Eths 30 as well as SOL not having gas fees which is a really big plus because ETH is a gas guzzler. not to say SOL is problem free, they have had there network down like 3 times I believe which is a little concerning. Personally I think MATIC network is the best out of both. mainly because since most Dapps are in EVM. MATIC allows all of these to be transferred right over without having developers changing anything. It also has a very high TPS and allows blockchains to connect with each other and has very very cheap gas fees.
 
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MJ DeMarco

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Someone mentioned in the other mega-crypto thread that SOL has few nodes and suffers from more centralization V decentralization. Just repeating what was said, I'm no expert so don't ask me to clarify further, lol.
 
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adirk1

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In time I think SOL will flip ETH, off of the basis that SOLs TPS is 65,000 to Eths 30 as well as SOL not having gas fees which is a really big plus because ETH is a gas guzzler. not to say SOL is problem free, they have had there network down like 3 times I believe which is a little concerning. Personally I think MATIC network is the best out of both. mainly because since most Dapps are in EVM. MATIC allows all of these to be transferred right over without having developers changing anything. It also has a very high TPS and allows blockchains to connect with each other and has very very cheap gas fees.
Interesting opinion.

You are correct Sol crashed for 12 hours and it dropped the value of it. But we can't ignore the perfect three (security, scalability and decentralization) which ETH2.0 is supposed to have all of it since it's now only missing scalability and 2.0 will solve it. Solana focused only on TPS but it has only 1000 nodes which makes it more centrelized and less secured, it's really a mess with these two.

Personally, I have more money on Ether than on Sol and but I still hope both will rise.

I also invested in MATIC, but MATIC cannot survive without ETH so I believe if ETH drops MATIC will drop too.
 

Vasili27

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Interesting opinion.

You are correct Sol crashed for 12 hours and it dropped the value of it. But we can't ignore the perfect three (security, scalability and decentralization) which ETH2.0 is supposed to have all of it since it's now only missing scalability and 2.0 will solve it. Solana focused only on TPS but it has only 1000 nodes which makes it more centrelized and less secured, it's really a mess with these two.

Personally, I have more money on Ether than on Sol and but I still hope both will rise.

I also invested in MATIC, but MATIC cannot survive without ETH so I believe if ETH drops MATIC will drop too.
that is true about 2.0 maybe once the introduce 2.0 it will be the new front runner and leave SOL in the dust. Also your right MATIC does need ETH to survive I have both SOL and MATIC. I dont own any ETH currently but holding it will certainly only do you good.
 

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do you think SOL will become the main network used for the NFT world? or is this something 2.0 is going to do? ive been hearing a lot of different things saying that eventually ETH will not be used as much for NFT once they find a better network to run on with will lower gas.
 
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MJ DeMarco

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Vasili27

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I think this is true for now since Solana currently has a way higher TPS, but I think this will only be untill until ETH 2.0 comes out and with the help of sharding there will be way more routes to raise the TPS and the gas should go way down because they will getting rid of the congestion there currently is on the network. Not saying Solana will go away after 2.0 is implemented but I don't think it will be as good as 2.0
 

MJ DeMarco

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Not saying Solana will go away after 2.0 is implemented but I don't think it will be as good as 2.0

This implies Solana won't evolve as well. Just because one expected ETH to evolve, doesn't mean everyone else will just sit back and stagnate.
 
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Entire

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Cost to mint with ETH. 200 to 500 fee. Not including cost of artwork.
So if you are minting something at 0.062 ETH or $200, you will spend easily 500 to 1k on bad days.

Cost to mint on SOL
$0.00025 per transaction. I rest my case.

Yes I hear you, L2 ETH edition is coming. Proof of stake (requiring 30ETH)
Sol happens now. And if ETH doesn't get it's crap together it's going to get left behind.
cough cardano cough
 
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Vasili27

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Cost to mint with ETH. 200 to 500 fee. Not including cost of artwork.
So if you are minting something at 0.062 ETH or $200, you will spend easily 500 to 1k on bad days.

Cost to mint on SOL
$0.00025 per transaction. I rest my case.

Yes I hear you, L2 Eth edition is coming. Proof of stake (requiring 30ETH)
Sol happens now. And if ETH doesn't get it's crap togeather it's goign to get left behind.
cough cardano cough
cough cough Cardano is good, but matic? cough

gas is high but ive never seen gas that high. Also your right sol happens and it has so much potential, def something I would buy and have been. But if eth does fix its problems then 2.0 will be better with way more routes, lower gas and fast TPS
 

Vasili27

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This implies Solana won't evolve as well. Just because one expected ETH to evolve, doesn't mean everyone else will just sit back and stagnate.
well no one knows 100% what will happen, Solana currently as stated in my opinion is better than ETH almost every way besides the fact that the network as come down like 3 times. comparing Solana and eth 2.0 on paper shows eth 2.0 has an upper hand but that doesn't mean other networks won't play a part in that.
 
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Kevin88660

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As you all know Solana helps with providing smart contracts like Ether, but it's doing faster (x10000) and with almost no gas fee like the Ether which is a gas killer these days. But still Sol is not that close to Ether in its market cap, some say Sol wll flip Ether, some say it won't and some don't know, and some say Ether will kill Sol when the 2.0 version of it will come out?

What do you think and why do you think that way? Please provide explanations to your answer, I'm still new to this world and looking to know the coin battles better.
Takes time to tell.

Bnb ecosystem has attracted a lot new user due to cheap fee and binance marketing.

Binance network has indeed diverted a lot of traffic away from ethereum but today most serious dapps still come from ethereum network. Part of it comes from first mover advantage. It takes years for good projects to get developed.

The other part of it comes from economies of scale. Eth network has attracted the early riches and serious people, whereas binance network unfortunately has the reputation of attracting scammers.

This is because the barrier of entry is low for both developers and investors. In the past they talked about migrating away from eth to binance to lower fee. Now it become a clear no not to hurt the project branding.
 

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Ethereum has a lot of demand which is making transaction fees so high. This is actually a good thing as it signals its strength. Once they figure out how to cater to this demand better, fees will go down. Most people who are serious about crypto will stick with the proven winner.
 

Vasili27

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Ethereum has a lot of demand which is making transaction fees so high. This is actually a good thing as it signals its strength. Once they figure out how to cater to this demand better, fees will go down. Most people who are serious about crypto will stick with the proven winner.
well part of its "demand" is because everything was built on that from the beginning. its really hard to just go ahead and switch almost all the protocols/tokens that use the EVM to something else with out huge changes to them and how they work. You could do it with matic/polygon and just switch it to a different network. if people find a better solution to ETH network issues I think they will take it for time being which is why sol, ada and matic are getting bigger.
 
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Raja

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Ethereum has a lot of demand which is making transaction fees so high. This is actually a good thing as it signals its strength. Once they figure out how to cater to this demand better, fees will go down. Most people who are serious about crypto will stick with the proven winner.
Fees was too high of me who wanted to start with investing 50usd, ended up buying SOL
 

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Fees was too high of me who wanted to start with investing 50usd, ended up buying SOL

Of course, for learning the fees make it tricky now though most DeFi runs on Ethereum, not Solana, and this is unlikely to change due to the infrastructure, trust, and reputation built over years.

Also, if you were to invest $50k, would you trust a relatively new protocol over an established one? My point is that for any significant transactions, I doubt that people will use the second best thing.
 

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The key thing is if solona can avoid the mistake of binance network which we can only tell from hindsight now.

Binance network’s cheap fee and low barrier of entry has attracted scammers pretending to be developers, and opportunistic speculator who thinks they can run before the scammers rug pull. This leaves the serious investors being hurt. And therefore serious developers get hurt as well due to reputation issue.

As a result you don’t see old successful projects eager to migrate to binance network or other cheaper network.

Why do you pay to live in a rich neighbourhood when cost of living is high? You do not want to get robbed or scammed at night. This probably explains the etheurem network premium currently.
 
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MitchC

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First is better than better when it comes to marketing so eth will always have that.

Solano may have advantages but so do about 50 other coins which were all mentioned in here too. Let’s throw LUKSO in the mix as well.

I think these coins will always be the off brand Pepsi and eth will always be Coca Cola.

Although there’s some weird conspiracy theory that says solana and xrp will become the new world currencies so take what you want from that
 

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First is better than better when it comes to marketing so eth will always have that.

Solano may have advantages but so do about 50 other coins which were all mentioned in here too. Let’s throw LUKSO in the mix as well.

I think these coins will always be the off brand Pepsi and eth will always be Coca Cola.

Although there’s some weird conspiracy theory that says solana and xrp will become the new world currencies so take what you want from that
ive heard about XRP I do hold it, if you really look and read about it really seems legit the purpose its supposed to serve which is moving trillions in liquidity a day in 4 seconds
 

MJ DeMarco

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I doubt that people will use the second best thing.

History has proven that the first mover advantage doesn't ensure first position, Starbucks, SW Airlines, Facebook, Google to name just a few.
 
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Kevin88660

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Bitcoin isn’t the first digital currency too. We just didn’t remember those that didn’t make it.
 

MJ DeMarco

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Kind of a blood-bath in the last 48 hours for all of crypto, SOL doing a NFLX and down big by 25%...
 

Vasili27

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Kind of a blood-bath in the last 48 hours for all of crypto, SOL doing a NFLX and down big by 25%...
can't forget Eth tanking by a lot, big boom in price for the both of them incoming. These kinds of market situations are where money can be made and are the best time to invest. We are in a very similar situation to march 2020 when the market tanked and people who invested. Made out really good because prices broke previous records and the market boomed afterwards. I think the exact same will happen, people understand the utility of these coins and seeing them at this low of a price will not last long. also NFTs might be a good thing to jump into with floor prices for many projects even some big name ones dropping.
 
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Vasili27

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Of course, for learning the fees make it tricky now though most DeFi runs on Ethereum, not Solana, and this is unlikely to change due to the infrastructure, trust, and reputation built over years.

Also, if you were to invest $50k, would you trust a relatively new protocol over an established one? My point is that for any significant transactions, I doubt that people will use the second best thing.
your right that's it build on ethereum infrastructure but that doesn't mean it can't change. you have to remember Ethereum network is outdated. There are many other networks/protocals that all use EVM and are wayyyy more efficient and faster than the ETH network and can still be used on it. Yes Eth does a have a reputation but all because people are using it more than other networks/protocols that doesn't mean its better. Many of these protocols/networks haven't been around long enough to be fully trusted yet like Eth. But in time I thing they will most definitely be adopted.

also dudes at ETH better get moving on 2.0
 
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Mac

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Ethereum is for people who like Apple products. Solana is for people who like Android products. This is probably the best way to describe the difference between the 2 from a psychological viewpoint.

If you look at the NFT market, the best returns are from Ethereum based NFT projects. NFTs are the best form of utility right now for crypto, and the market prefers Ethereum-based projects over Solana-based projects.
 

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your right that's it build on ethereum infrastructure but that doesn't mean it can't change. you have to remember Ethereum network is outdated. There are many other networks/protocals that all use EVM and are wayyyy more efficient and faster than the ETH network and can still be used on it. Yes Eth does a have a reputation but all because people are using it more than other networks/protocols that doesn't mean its better. Many of these protocols/networks haven't been around long enough to be fully trusted yet like Eth. But in time I thing they will most definitely be adopted.

also dudes at ETH better get moving on 2.0
Educate yourself. Ethereum is the settlement layer of crypto - layer 1. Layer 2 solutions are already here (ZkSync, Optimism, Arbitrum etc). These L2s have the same (or lower) fees than Solana and any of the other L1s.

Blockchain will be a multi-layered protocol. Which will start out with a settlement layer and an execution layer. The settlement layer will need to be the most secure and backed network. The execution layer can be any of the roll-up solutions already out there (Zksync etc) or even the "competitor" L1s that are out there now e.g. polygon, sol.

Calling the Ethereum network outdated is like saying the TCP/IP protocol is obsolete.
 
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maverick

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There is also no such thing as "Ethereum 2.0".

Layer 2 protocols are already live. These will settle their txs on Ethereum. Check here for TVL + volume: L2BEAT – The state of the layer two ecosystem

Fees on Layer 2 protocols range anywhere between $0.24 and $2. But these fees will decline significantly once volume starts picking up. Find the fees here: L2Fees.info

Proof-of-stake will be alive before summer.
 

maverick

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Ethereum is currently the only blockchain that solves the blockchain trilemma.

Scalability, Decentralization and Security.

Solana is very centralized. Approx. 80% of circulating supply is owned by INSIDERS. Running a validator requires some hardcore hardware. And it is run by the Solana Foundation.
 

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