Solana (SOL) and Cardano (ADA) are considered notable contributors to the Decentralized Finance (DeFi) ecosystem. However, community members have often pitted the two against each other, attempting to crown one the ultimate tech leader.
A recent development found a sharp contrast between Solana and Cardano regarding Transaction Per Second (TPS). This particular performance metric is driving growing community buzz.
Comparing Solana and Cardano TPS claims
Crypto analyst Marty Party highlighted the discovery in an X post, questioning Cardano’s claims of faster throughput. Per the details, Solana’s TPS spiked to 40,000 with the mainnet-beta launch of a new validator client, Frankendancer.
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Marty Party compared Solana’s high speed to Cardano’s, which is currently at 1.3, according to data from its website. The website noted that the 1.3 TPS is an average based on recent transactions on the network.
Cardano further pointed out that its eUTXO model can theoretically handle hundreds of TPS. Despite this remark, the market analyst argued the actual TPS is just 1.3. He says the blockchain network is misleading investors with unrealistic claims.
Accordingly, the analyst urged the crypto community to consider switching from Cardano to Solana. Marty Party wrote.
“Facts>Feelings – not personal, business. Move $ADA to $SOL asap.”
His comments quickly ignited a debate regarding the performance and potential of each blockchain. Per his post, some followers said they may consider converting their ADA to SOL. One community member, however, suggested moving to Sui Network (SUI), a Layer 1 blockchain and smart contract platform.
The latter’s suggestion is likely due to SUI’s recent ascent. Within 30 days, SUI price gained 117%, SOL surged 9.5%, and ADA jumped 7.4%. Notably, SUI has outperformed both altcoins and is recording an uptrend.
Network Advances and Ecosystem Growth
Notably, Solana is among the top-performing assets in 2024. SOL has surged over 520% in the past year to $142. In September 2024, it achieved a record of 5.5 million active daily addresses.
Solana’s technical analysis suggests the potential for further price growth. The Relative Strength Index (RSI) is below 40, indicating that the asset is oversold and could be due for a bounce
Analysts anticipate upward momentum for SOL, with a potential parabolic recovery targeting $560. The recent bullish trend reflects a wave of optimism surrounding the network due to network advancements.
In September, Google Cloud partnered with Solana Labs to launch Gameshift. This newly launched platform is a Web3 API service that acts as a Web2 to Web3 gateway for developers. Additionally, Travala integrated Solana to allow users to book travel with assets created on the blockchain.
Is Solana an Overhyped Chain?
Despite these positive updates, Solana still has critics like Edward Snowden, who says the protocol is centralized. As such, it is impossible to say whether Solana is an overhyped chain.
What is known, however, is the blockchain’s improved scalability, relatively faster transaction speed, and reduced cost. Blockchain users and key stakeholders see Solana as fundamental for expanding practical applications in the crypto ecosystem.
Additionally, the Solana network has good stablecoin volume traction and Non-Fungible Token (NFT) volume. This marks a good indicator that the network has a considerable market share.
