The blockchain industry does not stop developing and evolving, meeting more interesting crypto projects with valuable technologies and applications. The crypto space now is the place for the biggest number of innovative products that are building our future. There are over 1000 different blockchain networks that host over 12 000 digital assets aimed at solving different problems of the industry (interoperability fees, scalability, sustainability) with their technological approaches. However, for a beginner crypto trader, it is difficult to pick really worthy assets for investment. This article will describe two popular crypto projects – Solana and Algorand, which have many similar features.
What is Solana?
Solana is a network for numerous applications, smart contracts, games, marketplaces, and metaverse projects. Developers pick this blockchain because:
- high throughput;
- low commissions;
The platform has got institutional adoption. The SOL coin is traded at $12.18. The market capitalisation of the project exceeds $4 billion.
What is Algorand?
The same as Solana, Algorand is based on the Proof-of-Stake consensus mechanism, which means ALGO coins can also be staked. The project is aimed at providing scalability, safety and decentralization to developers. Algorand is ranked first in terms of minimum carbon footprint among other blockchains.
Comparing Algorand vs Solana, we can say:
- Solana performs much more operations per second, beating Algorand
- Staking Solana coin is much more profitable.
- Algorand beats Solana in terms of carbon footprint.
- ALGO rate is $0.17, and the market cap is over $1 billion.
We dare to say that in this battle, Solana wins, but we never know how life turns and what awaits us in the future, so it is worth buying both SOL and ALGO coins for the long term.
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