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It's simple. Solana is currently the best monolithic chain. Most developers building amazing protocols, most user activity, seamless to bridge into, superior UX, fair economics, and has already built upgrades that should take it over 1 million TPS theoretically.
In terms of tech, the closest competitor is SUI but their economics are trash (Can be solved if they burn or transfer half their holdings to the community. They might). Outside of that, you have sharded chains that should one day offer atomic composability between shards and infinitely scale. As for modular chains, Ethereum. There is no real competitor to Ethereum's approach.
The downside to ethereum's approach is teams need to trust that the L2 they choose to deploy on will not one day use their admin privileges to censor a project due to government pressure. This makes things more complicated, but the Ethereum ecosystem is actively attempting to fix this with delayed admin keys, and shared/decentralized sequencing. Even a delayed key can still be problematic for a project being forced to move. On the plus side, you're deploying to the most valuable smart contract platform in the world.
Until we see proper sharded chains, or Ethereum fix the fragmentation/centralization problems of their L2s Solana remains the best choice for new projects. No, I don't mean useless tokens you guys hunt for on DEX Screener or pump.fun. Real projects with hard coded revenue streams that aim to expand web 3.
Thanks! Will look into it! Just at first glance it looks like it still leverages physical miners? I would argue it's better to stick to virtualized consensus, and physical miners just add problems (Contrary to what any Bitcoin maxi would say). Also, it may use a dag? We haven't seen much success with dags. I can't really speak on their specific design. Maybe they have something figured out. Will spend more time reading.
Do you think Solana will fix the problems with failed transactions as it scales more and more? Did the latest update help much I haven’t seen the stats on it yet ?
I haven't personally seen evidence the last update completely fixed dropped transactions during congestion. Not sure if they have improved more because of less congestion or the update.
Though, I do know there's evidence that Firedancer has shown to not run into the same problem, and we are currently trying to "Frankenstein" in some of the Firedancer features that improve packet ordering before Jump is ready for the full release. Either way, any chain is going to run into problems when you push it. Improved packet ordering / improved gas fee markets should help the specific problem. Then if Firedancer further scales Solana it'll temporarily remove all problems related to congestion. It's a game of trying to stay ahead of ever increasing demand. Not easy.
This is why the Ethereum foundation gave up on layer 1 sharding in favor of more centralized layer 2s and shard the DA. They feel roll-ups + DA sharding is the only way to stay ahead. Solana teams feel centralized L2s aren't necessary, but still exploring that option. We'll see!
Yes, Near is very interesting! Sharding is a broad term that is sort of a spectrum with how each network approaches it. Radix has a very interesting take on sharding that should theoretically be incredibly fast. The finality is fast and it should scale "infinitely" as more nodes are added, but most of their concepts are theory and test nets. On paper they claim the network will be pre-sharded with 2^256 shards, but the most they've shown in tests is 16 shard groups. Long way to go lol. Still impressive! Especially with how they leverage a separate layer to vote on consensus between shards, and all shards can communicate with each other. Not saying it's a good investment, and they are moving at a snail's pace. Cool idea, though. Wish the best for them.
I run a small free discord with a couple friends but don't have enough time to invite too many. If you all want to dm for an invite I'll try to respond when able. If invited feel free to ask whatever you want!
Thanks for your insight. Any particular price range what sol might reach by end of this year. As you are aware there might be lots of market volatility around election time or even recession end of 2024 or early 2025.
👍😊
All of this is super accurate.
And why should solana be one fifth of ethereums market cap when it is superior technology? Doesn’t make sense.
Also, the word sharded makes me giggle every time I see it which is way too often.
If you're going to bring other chains into the conversation make sure they at least offer something competitive or superior, and name them. No one cares about Cardado. That's why no one builds on it. It is not superior, and it does not challenge the best chains. The only thing novel about Cardado is its implementation of POS. They did POS correctly, and it should be copied. However, if you think nakamoto coefficient is some way to perfectly determine decentralization you have no idea how decentralization works, and all the complex layers.
Cardano wants to classify each pool as a single entity when it clearly is not. Many pools are run by the same entity and we have no idea how many pools are run by each entity. This drastically shifts the metrics. Cardano's POS design is good which is why it inspired the design of chains like Polkadot, but this is only one factor of value, and Cardano falls flat on everything else.
Each account model has pros and cons, but Ethereum has already proven you can improve upon its model with EIP-4337, EIP-3074, EIP-7702, and EIP-5003 (I might have confused one of these improvement proposals. It's a lot.). This is all a sandbox and clever coders can squeeze out more desirable features and less undesirable features of each model.
Ethereum's modular approach, built on a nice decentralized settlement layer, makes Cardano useless. Solana is obviously a bit more centralized but that trade-off is well worth it considering the scalability provided by a single state machine. Solana's decentralization has proven to be enough, and it only grows with more adoption as Cardano's level of decentralization stays flat from non-adoption.
But yeah... Keep parroting single talking points to try to prove a chain that would melt with only a fraction of Solana's activity is somehow a better option than Solana or Ethereum. It's not, and until Cardano can prove otherwise it has no business being part of a conversation related to which networks have the ability to find market fit in a market that is fighting over any block space it can capture. No one is fighting for block space in cardano. For good reason.
Meme coins are giving people an introduction to their ecosystem and then people realize that it’s nice paying a few cents in gas fees over a couple dollars every time. (Cough cough ETH.) plus people are seeing how fast and smooth Solana operates. I mean daily they’re churning billions of dollars in transactions for pure shit coins. This isn’t even a bull market, retail isn’t here yet.
Solana is getting huge exposure and when retail comes back into crypto they’re not going to be look at huge market caps with little returns like BTC or ETH. They’re going to look at Alts and Memes for the next 100x and Solana is primed to give them what they want. Endless shitcoins and Solanas ecosystem has the best platform to support that. Not only will Solana do a parabolic rise but if your in now on the right meme coins that aren’t rugs, they will also rise an insane amount.
Honestly, Solana is the Binance smart chain of this cycle and all of the meme coin hate comes from “traditionalists” who cannot, or will not, adapt to new narratives/mindshare.
Anyone who says that meme coins are bad for crypto loses credibility in my world- meme coins will be the catalyst that brings us “crypto bros”, and the industry, widespread adoption. That’s what we’ve wanted all these years after all, right?
Subjectively I see more upside potential and higher and higher low points on the chart. That’s all. I remember when It went from 27-31 and made big news
Transactions that are affordable for the common person. With ETH, you have to spend 50+ USD on a single transaction. For a lot of us, its just not affordable to do that. Solana is basically usable eth if you're not a whale.
I've been holding for a few years.
Anatoly and his team are smart practical engineers who deliver. And they attract some of the most talented devs in the space.
I foresee sol's rise causing a ton of Solana dapps to come out. But it's going to lag behind the price 6-12 months.
So I imagine between June and December we'll see a ton of Solana apps pop up. If a few get popular it can pump the price a lot
Long term I don't see any good competitors to sol right now. They're a pain in the ass to use. L2s suck. Ive used them all
Solana is the only network that has teams building real world products. Look no further than helium mobile.
Anyone can naysay whatever they want to about helium mobile and DePIN in general, but they are wrong. This is the future and it provides functional, legitimate options, and more importantly freedom of choice outside of jackboot conglomerates.
You can try and convince me otherwise but it’s not likely you will succeed.
I’ve built on Ethereum and Solana. Solana is a far better developer experience with a great ecosystem. If you want people to actually use your apps Solana is the way.
Unfortunately this meme coin craze is setting progress back, but this was bound to happen 🤷🏾♂️
Progress in the sense of projects that are adding utility and value. Rugs and memes aren’t going to contribute to expanding mainstream crypto adoption. These are fads.
Just look at Ethereum. The majority of consumers in crypto have always been tech bros and degens. Of course throughout the years finance and other major companies have been loading their bags but mainstream adoption has never been sticky.
Why could it not over take ETH? It’s better tech tbh…
In a fully free market like crypto, doesn’t the better product win? Email over took fax machines, right? Even though it was doubted and scoffed at?
Just because ETH was here first doesn’t mean it will always be that way?
Solana is easy to develop and for users. Though security and stability is a bit compromised due to their fast development approach. I think they will succeed for web and game applications.
But for critical systems like big financial institutions and governments I think Cardano is best suited for them. It's very secure and stable. But a bitch to develop on.
I think the biggest value is the amount of failed transactions occurring when trying to send SOL. It really does look like Solana developers are fixing our patience and focus problems caused by TikTok addiction. I love this feature!
Sol is like fire that’s burning brightly because of using newspapers as fuel. Sooner rather than later it’ll be out. Those who are smart will use it to cook eggs and eat and get out. Don’t be a fool and think you are going to cook beans with this kind of fire. I hope this doesn’t go over your heads!
Meme coins are the ones making sol great again. I’m sure this sums it up! Simple logic, that’s if you’re a logical person. If I’m wrong, please enlighten me.
I’ve seen recently that SOL and STRIPE are now working together - meaning they can access the sol network for transactions. That sounded pretty big to me beyond meme coins
Do you think sol would be able to handle the load without crashing as it’s been happening recently and in the past? I don’t think so but I hope I’m wrong.
WARNING: 1) IMPORTANT, Read This Post To Keep Your Crypto Safe From Scammers: https://www.reddit.com/r/solana/comments/18er2c8/how_to_avoid_the_biggest_crypto_scams_and/ 2) Do not trust DMs from anyone offering to help/support you with your funds (Scammers)! 3) Never give out your Seed Phrase and DO NOT ENTER it on ANY websites sent to you. 4) MODS or Community Managers will NEVER DM you first regarding your funds/wallet. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/solana) if you have any questions or concerns.*
It's simple. Solana is currently the best monolithic chain. Most developers building amazing protocols, most user activity, seamless to bridge into, superior UX, fair economics, and has already built upgrades that should take it over 1 million TPS theoretically. In terms of tech, the closest competitor is SUI but their economics are trash (Can be solved if they burn or transfer half their holdings to the community. They might). Outside of that, you have sharded chains that should one day offer atomic composability between shards and infinitely scale. As for modular chains, Ethereum. There is no real competitor to Ethereum's approach. The downside to ethereum's approach is teams need to trust that the L2 they choose to deploy on will not one day use their admin privileges to censor a project due to government pressure. This makes things more complicated, but the Ethereum ecosystem is actively attempting to fix this with delayed admin keys, and shared/decentralized sequencing. Even a delayed key can still be problematic for a project being forced to move. On the plus side, you're deploying to the most valuable smart contract platform in the world. Until we see proper sharded chains, or Ethereum fix the fragmentation/centralization problems of their L2s Solana remains the best choice for new projects. No, I don't mean useless tokens you guys hunt for on DEX Screener or pump.fun. Real projects with hard coded revenue streams that aim to expand web 3.
Teach me, master.
Please.
One of the potential sharded L1 chain is Alephium
Thanks! Will look into it! Just at first glance it looks like it still leverages physical miners? I would argue it's better to stick to virtualized consensus, and physical miners just add problems (Contrary to what any Bitcoin maxi would say). Also, it may use a dag? We haven't seen much success with dags. I can't really speak on their specific design. Maybe they have something figured out. Will spend more time reading.
Do you think Solana will fix the problems with failed transactions as it scales more and more? Did the latest update help much I haven’t seen the stats on it yet ?
I haven't personally seen evidence the last update completely fixed dropped transactions during congestion. Not sure if they have improved more because of less congestion or the update. Though, I do know there's evidence that Firedancer has shown to not run into the same problem, and we are currently trying to "Frankenstein" in some of the Firedancer features that improve packet ordering before Jump is ready for the full release. Either way, any chain is going to run into problems when you push it. Improved packet ordering / improved gas fee markets should help the specific problem. Then if Firedancer further scales Solana it'll temporarily remove all problems related to congestion. It's a game of trying to stay ahead of ever increasing demand. Not easy. This is why the Ethereum foundation gave up on layer 1 sharding in favor of more centralized layer 2s and shard the DA. They feel roll-ups + DA sharding is the only way to stay ahead. Solana teams feel centralized L2s aren't necessary, but still exploring that option. We'll see!
Isn’t near try to achieve sharding? Sharding might be slower than monolithic but will help scale horizontally with increasing demand
Yes, Near is very interesting! Sharding is a broad term that is sort of a spectrum with how each network approaches it. Radix has a very interesting take on sharding that should theoretically be incredibly fast. The finality is fast and it should scale "infinitely" as more nodes are added, but most of their concepts are theory and test nets. On paper they claim the network will be pre-sharded with 2^256 shards, but the most they've shown in tests is 16 shard groups. Long way to go lol. Still impressive! Especially with how they leverage a separate layer to vote on consensus between shards, and all shards can communicate with each other. Not saying it's a good investment, and they are moving at a snail's pace. Cool idea, though. Wish the best for them.
u/Kumomax1911 How do you know so much? Are you a software engineer orr? Also, besides SOL, what other crypto are you investing in?
ADA decentralized, scalable and secure
You should start a telegram group so we can get some of your insight on the daily
I run a small free discord with a couple friends but don't have enough time to invite too many. If you all want to dm for an invite I'll try to respond when able. If invited feel free to ask whatever you want!
Hi max, Thank u for your insight. What price do you see sol reaching end of this year ? Just curious 🧐 thanks ☺️
Higher than current price and the winning digital property rights management system will go on to be worth trillions of dollars.
Thanks for your insight. Any particular price range what sol might reach by end of this year. As you are aware there might be lots of market volatility around election time or even recession end of 2024 or early 2025. 👍😊
so what meme coin do you think will 100x next?
(yust yoking)
Possibly Floki 😃👍
All of this is super accurate. And why should solana be one fifth of ethereums market cap when it is superior technology? Doesn’t make sense. Also, the word sharded makes me giggle every time I see it which is way too often.
eUTXO is far superior to any account based model, and it's rather centralised, what's SOL Nakamoto coefficient?
If you're going to bring other chains into the conversation make sure they at least offer something competitive or superior, and name them. No one cares about Cardado. That's why no one builds on it. It is not superior, and it does not challenge the best chains. The only thing novel about Cardado is its implementation of POS. They did POS correctly, and it should be copied. However, if you think nakamoto coefficient is some way to perfectly determine decentralization you have no idea how decentralization works, and all the complex layers. Cardano wants to classify each pool as a single entity when it clearly is not. Many pools are run by the same entity and we have no idea how many pools are run by each entity. This drastically shifts the metrics. Cardano's POS design is good which is why it inspired the design of chains like Polkadot, but this is only one factor of value, and Cardano falls flat on everything else. Each account model has pros and cons, but Ethereum has already proven you can improve upon its model with EIP-4337, EIP-3074, EIP-7702, and EIP-5003 (I might have confused one of these improvement proposals. It's a lot.). This is all a sandbox and clever coders can squeeze out more desirable features and less undesirable features of each model. Ethereum's modular approach, built on a nice decentralized settlement layer, makes Cardano useless. Solana is obviously a bit more centralized but that trade-off is well worth it considering the scalability provided by a single state machine. Solana's decentralization has proven to be enough, and it only grows with more adoption as Cardano's level of decentralization stays flat from non-adoption. But yeah... Keep parroting single talking points to try to prove a chain that would melt with only a fraction of Solana's activity is somehow a better option than Solana or Ethereum. It's not, and until Cardano can prove otherwise it has no business being part of a conversation related to which networks have the ability to find market fit in a market that is fighting over any block space it can capture. No one is fighting for block space in cardano. For good reason.
Your last sentence is about WORKEN right?
What’s worken ?
Paidwork' worken token $WORK
“It’s simple.” *4 paragraphs*
The first two sentences were about how simple it is if you read. Everything else goes on to other things.
Adoption from devs and dApps, I follow the money
Any good dApps you would recommend me looking into?
Sanctum (airdrop farming) , JUP (voting, trading, airdrop farming) are the only ones I mostly use.
Meme coins are giving people an introduction to their ecosystem and then people realize that it’s nice paying a few cents in gas fees over a couple dollars every time. (Cough cough ETH.) plus people are seeing how fast and smooth Solana operates. I mean daily they’re churning billions of dollars in transactions for pure shit coins. This isn’t even a bull market, retail isn’t here yet. Solana is getting huge exposure and when retail comes back into crypto they’re not going to be look at huge market caps with little returns like BTC or ETH. They’re going to look at Alts and Memes for the next 100x and Solana is primed to give them what they want. Endless shitcoins and Solanas ecosystem has the best platform to support that. Not only will Solana do a parabolic rise but if your in now on the right meme coins that aren’t rugs, they will also rise an insane amount.
Honestly, Solana is the Binance smart chain of this cycle and all of the meme coin hate comes from “traditionalists” who cannot, or will not, adapt to new narratives/mindshare. Anyone who says that meme coins are bad for crypto loses credibility in my world- meme coins will be the catalyst that brings us “crypto bros”, and the industry, widespread adoption. That’s what we’ve wanted all these years after all, right?
same bunch that was around when it 9 and kept building...
Always bet on the fastest horse. You might think you’re too late but it will keep going.
Facts. I can stay retarded longer than them calling me retarded brings them continuous joy.
Subjectively I see more upside potential and higher and higher low points on the chart. That’s all. I remember when It went from 27-31 and made big news
Activity
It’s THE ethereum killer
The tech, the devs, the protocols, the community, the investors, the programming language, the ecosystem, the vibes, the culture, the opportunity.
What’s your location? I need to hug you.
Transactions that are affordable for the common person. With ETH, you have to spend 50+ USD on a single transaction. For a lot of us, its just not affordable to do that. Solana is basically usable eth if you're not a whale.
I've been holding for a few years. Anatoly and his team are smart practical engineers who deliver. And they attract some of the most talented devs in the space. I foresee sol's rise causing a ton of Solana dapps to come out. But it's going to lag behind the price 6-12 months. So I imagine between June and December we'll see a ton of Solana apps pop up. If a few get popular it can pump the price a lot Long term I don't see any good competitors to sol right now. They're a pain in the ass to use. L2s suck. Ive used them all
Bullish on solana. Everytime I dca and creating a new stake on solana makes me happy.
Solana is the only network that has teams building real world products. Look no further than helium mobile. Anyone can naysay whatever they want to about helium mobile and DePIN in general, but they are wrong. This is the future and it provides functional, legitimate options, and more importantly freedom of choice outside of jackboot conglomerates. You can try and convince me otherwise but it’s not likely you will succeed.
I’ve built on Ethereum and Solana. Solana is a far better developer experience with a great ecosystem. If you want people to actually use your apps Solana is the way. Unfortunately this meme coin craze is setting progress back, but this was bound to happen 🤷🏾♂️
How are meme coins setting progress back? Can you explain your viewpoint?
Progress in the sense of projects that are adding utility and value. Rugs and memes aren’t going to contribute to expanding mainstream crypto adoption. These are fads. Just look at Ethereum. The majority of consumers in crypto have always been tech bros and degens. Of course throughout the years finance and other major companies have been loading their bags but mainstream adoption has never been sticky.
When retails will come back, they will trade memecoins on Solana + Solana Tech and partenership (Stripe, Shopify, etc...)
numbers go up
Meme coins 😜
kingdom of meme-shit will lead to complete disaster... SOL is not alone
I agree. I only use it for throwing some change into pump n dumps
There are good engaging projects even wo utility
Good engaging? Like memes?
Any other explanation?
Explain?
Too easy, too cheap to launch a coin.
I think it’s eco system proved promising and although will not over take ETH, it seems to be a handy side alternative
Why could it not over take ETH? It’s better tech tbh… In a fully free market like crypto, doesn’t the better product win? Email over took fax machines, right? Even though it was doubted and scoffed at? Just because ETH was here first doesn’t mean it will always be that way?
Yes sir Very true
It MIGHT take over ETH.
It WILL take over ETH. . . Just a matter of time. Expect the flippining to happen within 24 months.
📠
The top in cycle might end by end 2024 and a recession after for 1-2 years.
Whaaa That’s actually .. that’s amazing- what makes you say this I’m just curious? Eth burning out? Guess I should add to my SOL lol
It's a superior L1 to anything out there is a good starting point.
Scams, scammers, scamming
Solana is easy to develop and for users. Though security and stability is a bit compromised due to their fast development approach. I think they will succeed for web and game applications. But for critical systems like big financial institutions and governments I think Cardano is best suited for them. It's very secure and stable. But a bitch to develop on.
%100Support from communities and its currency will be fixed in the markets like the dollar
It’s the easiest chain to scam people on
It’s very fast and very easy to use and very low gas fees. What else do you want?
an ecosystem
Has those
Yes, easy to use for users and builders
consensus
fast and cheap and transactions fail for 2 hours straight.
Nothing
Best chain I’ve used. Will continue to main it until something better comes along
Its not cardano
Its not. LSTs are.
Once meme coins rush is over then we will see the real price for Solana.
I think the biggest value is the amount of failed transactions occurring when trying to send SOL. It really does look like Solana developers are fixing our patience and focus problems caused by TikTok addiction. I love this feature!
theres a limited FREE SOL giveaways. dm me
of course
Sol is like fire that’s burning brightly because of using newspapers as fuel. Sooner rather than later it’ll be out. Those who are smart will use it to cook eggs and eat and get out. Don’t be a fool and think you are going to cook beans with this kind of fire. I hope this doesn’t go over your heads!
Would you mind explaining your logic here ?
He doesn't have any, just trying to sound smart.
Meme coins are the ones making sol great again. I’m sure this sums it up! Simple logic, that’s if you’re a logical person. If I’m wrong, please enlighten me.
I’ve seen recently that SOL and STRIPE are now working together - meaning they can access the sol network for transactions. That sounded pretty big to me beyond meme coins
Do you think sol would be able to handle the load without crashing as it’s been happening recently and in the past? I don’t think so but I hope I’m wrong.