Home MarketXLS
Dashboard MarketXLS
Screener MarketXLS
Options Profit Calculator MarketXLS
Stock Ranks MarketXLS
Spreadsheet Builder MarketXLS
Documentation MarketXLS
Logout MarketXLS

Solana – The Ethereum Killer?

Written by Param Shah
Tue Sep 14 2021
Solana – The Ethereum Killer? - MarketXLS
See how MarketXLS helps you take advantage in the markets.
Solana – The Ethereum Killer? - MarketXLS

In the last article, we discussed the basic working of 2 of the most famous cryptocurrencies – bitcoin and ethereum.

Bitcoin works on proof of work and ethereum uses proof of stake to verify its transactions.

We discussed the limitations of the proof of work process in the last article itself.

Well, even the proof of stake isn’t immune to criticism. Even though proof of stake is faster than proof of work, it is still not as fast in order for it to disrupt the financial transactions of the world.

Etheruem still takes about 5 mins to validate each transaction, which is a hindrance for faster exchange of currency.

The transaction fees of ethereum are not as cheap. They range around $15 per transaction and hence it isn’t a viable mode of currency exchange for medium and small amounts.

Also, ethereum processes only about 15 transactions per second, which might be an improvement over bitcoin, but it is still very low for modern times.

The Blockchain Trilemma

Blockchain Trillema

Blockchains are often forced to make trade-offs that prevent them from achieving all 3 aspects:

  1. Decentralized: creating a blockchain system that isn’t centrally controlled.
  1. Scalable: the ability of a blockchain system to handle and grow larger amounts of transactions.
  1. Secure: the ability of the blockchain system to operate as expected, defend itself from attacks, bugs, and other unforeseen issues

As you can see most cryptocurrencies have failed to conquer the blockchain trilemma. And hence we haven’t yet seen a global adoption of cryptocurrencies.

Enter Solana –

Well don’t lose hope, Solana is one such cryptocurrency that claims to have broken the blockchain trilemma. It is fast, secure, decentralized, and scalable. Breaking all boundaries. Well, how does it manage to do this you may ask?

Solana innovated using a process called proof of history.

We are aware of the cons of proof of work and proof of stake, well proof of history aims to eliminate those. 

In this process, the blockchain captures and sends information and a determined time interval continuously while the transaction is taking place. This enables a faster exchange of information as the verification doesn’t need to wait for confirmation by all the nodes in the server. The information has a timestamp attached to it, which helps in tracking the activity and also enables security.

Solana Ethereum Bitcoin

Through proof of history, Solana can achieve the numbers other currencies can’t. That’s the reason why many dApps and other service platforms are making the switch to Solana. Solana also has an ethereum bridge that enables seamless transfer of code from the ethereum blockchain to the Solana blockchain. Since Solana can validate a large number of transactions, the cost per transaction is lesser too, making it viable for small and medium value transfers.

Solana blockchain has its own currency called the sol token which can be traded on the crypto exchanges. 

Bottom Line

Due to all these features, experts predict Solana will have a big market share in the future and is a better alternative to ethereum. Of course, this doesn’t mean that ethereum will cease to exist.

Ethereum being the superior network — with 7,000 nodes and 90,000 validators, compared with Solana’s 600 nodes and 1,000 validators.

Solana is said to be an “Ethereum killer.” 

Solana’s architecture allows it to keep pace, with Moore’s law. This means that as computers become faster over time, so will Solana. Essentially, Solana is future-proofing itself through its scaling capabilities.

If this proves to be the case, will Solana beat ethereum?


All trademarks referenced are the property of their respective owners. Other trademarks and trade names may be used in this document to refer to either the entity claiming the marks and names or their products. MarketXLS disclaims any proprietary interest in trademarks and trade names other than its own, or affiliation with the trademark owners.
None of the content published on marketxls.com constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. The author is not offering any professional advice of any kind. The reader should consult a professional financial advisor to determine their suitability for any strategies discussed herein. The article is written for helping users collect the required information from various sources deemed to be an authority in their content. The trademarks if any are the property of their owners and no representations are made.

References –


GSloaY” target=”_blank” rel=”noreferrer noopener”>https://www.youtube.com/watch?v=_ivdpGSloaY

Interested in building, analyzing and managing Portfolios in Excel?
Download our Free Portfolio Template
I agree to the MarketXLS Terms and Conditions
Call: 1-877-778-8358
Ankur Mohan MarketXLS
I am so happy you are here. My name is Ankur and I am the founder/CEO of MarketXLS. Over the past four years, I have helped more than 2500 customers to implement their own investment research strategies and monitoring systems in Excel.
Implement “your own” investment strategies in Excel with thousands of MarketXLS functions and starter sheets.
Get started today

Get Access to 1 Billion Usable Market data points IN YOUR EXCEL SHEETS WITH EASY TO USE EXCEL FUNCTIONS

Get started today

🎉 Exciting news! 🎉

You are invited to join our Discord Channel.

Interact, learn, and grow with experts in the markets!

Join our Discord