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Home»ETHEREUM NEWS»The Solana founder stated that SOL outperforms Ethereum in this key metric.
ETHEREUM NEWS

The Solana founder stated that SOL outperforms Ethereum in this key metric.

By Crypto FlexsJune 22, 20243 Mins Read
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The Solana founder stated that SOL outperforms Ethereum in this key metric.
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Solana founder Anatoly Yakovenko said: declare that SOL has surpassed Ethereum.The world’s second-largest cryptocurrency by any metric that matters – an economic barrier to honest nodes participating in consensus.

Solana outperforms Ethereum by 10x on this metric.

According to Yakovenko, the economic barrier for honest nodes to participate in consensus on Solana is currently 10 times higher than on Ethereum. In general, blockchains are: Ethereum and Solana It uses a distributed network of computers, also known as nodes, to verify and record transactions. This entire process is called consensus, and all nodes in the network work together to Blockchain performance And security.

However, Yakovenko suggests that not all nodes are the same and that participating in a blockchain’s consensus process is typically prohibitively expensive. These costs are typically inflated by the cost of running powerful hardware and energy consumption.

The Solana founder also stated: brushThe expensive nodes are largely due to Ethereum’s investment in Boneh-Lynn-Sacham (BLS) aggregation for consensus messages.

Boneh-Lynn-Sacham is a cryptographic signature scheme utilized by Ethereum that allows users to verify the level of authenticity of the signer. In particular, the BLS system can archive independently verified messages. Node validator.

report Ethereum community member and investor Ryan Berckmans revealed how expensive it is to run a Solana validator. He stated: Solana Foundation We are currently supporting the blockchain financially, as it costs over $65,000 per year to run a validator.

Yakovenko revealed undefined plans to adopt a more efficient consensus mechanism to address the higher voting costs. He stated that as hardware improves, the lower bound fee for sending a validator message to the entire cluster will eventually decrease. As a result, the cost per vote can be reduced and the economic barrier to node participation in Solana can be lowered.

The Solana founders also stated that establishing voting subcommittees could lower voting fees and potentially reduce voting burden by rotating boxes in and out of committees.

ETH and SOL witnessed a slight decline.

In recent years Ethereum price Solana has been witnessing a slight decline in the cryptocurrency market, highlighting the diminishing demand for these cryptocurrencies. At the time of writing, Solana recorded a significant weekly decline of 12.91%, bringing the price down to $150.5.

light Solana’s withdrawal It comes amid heightened market volatility and slowing investor demand for cryptocurrencies. Despite the decline, cryptocurrency analyst Ali Martinez is optimistic about Solana’s future prospects. Martinez is predicted For popular cryptocurrencies, prices are likely to surge by up to 53%.

On the other hand, Ethereum continues to decrease in value Even though the U.S. Securities and Exchange Commission (SEC) recently approved a spot Ethereum ETF (secretary). Latest update Currently, the price of Ethereum is trading at $3,485, showing a significant weekly decline of 9.49%.

SOL price falls amid bearish pressure | Source: SOLUSDT on Tradingview.com

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