- It seems to suggest that Buterin agrees that Solana is more scalable than Ethereum.
- SOL’s pricing has not changed much in response to the influx of new users and this news.
Vitalik Buterin, the co-founder of Ethereum (ETH), recently addressed a conference gathering and referred to Solana as the most scalable blockchain. This remark has caused a stir in the community since it seems to suggest that Buterin agrees that Solana is more scalable than Ethereum.
The token used by the blockchain, SOL, is expected to print some rebound in price and market value as a result of this strong declaration by the public face of Ethereum’s leader. Solana is a powerful blockchain architecture that allows for scalability and can host dApps and their tokens.
In particular, it uses the well-known Proof-of-Stake (PoS) consensus mechanism and the Proof-of-History (PoH) method to expedite and strengthen financial dealings. The PoH component allows the network to maintain an accurate timekeeping mechanism.
No Price Gain Witnessed
However, Ethereum has been an early leader in the blockchain ecosystem, and it is also capable of supporting decentralized applications, distributed finance, and smart contracts. However, scalability is a major drawback.
It’s high volume and delayed transaction times have led to network congestion and exorbitant gas prices. Network disruptions occur when the going gets tough. Solana seems to be the best option at this moment. Despite all the developments, the price has been falling for quite some time.
SOL’s pricing has not changed much in response to the influx of new users. CMC data shows that the price of this cryptocurrency has been moving between $19 and $20, and at the time of writing, it was trading at $19.49, down over 1.59% in the past 24 hours.