AVAX and Solana rank first among popular coins. Because both offer a high degree of security and scalability, there are some fundamental differences between them.
AVAX vs Solana
Many investors follow the competition between AVAX and Solana for the second largest EVM compatible blockchain after Ethereum. Both Avalanche and Solana have rapidly grown in popularity with hundreds of thousands of users and thousands of dApps flooding into their ecosystems throughout 2021 and 2022.
AVAX and Solana offer a high degree of security and scalability, but although they are among the popular cryptocurrencies, there are some fundamental differences between them.
Is AVAX better or Solana?
AVAX is seen as a better Tier 1 than Solana because assets that fall into this category run on a more decentralized blockchain. Avalanche Consensus Protocol has more than 2,000 unique validators protecting the network, while Solana has less than 20 validators.
The hardware to run a node in the Solana consensus algorithm is extremely costly and requires hundreds of thousands of dollars in investment. This inevitably makes Solana a relatively exclusionary ecosystem with deep centralization risks.
Avalanche and Solana transaction speed
When it comes to transactions per second, Solana has faster throughput compared to AVAX. Solana is a significantly faster network than Avalanche C-Chain as it has fewer nodes required to verify transactions on the network.
This highlights the tradeoff that the Solana team made in favoring performance over decentralization. It’s also compatible with the SOL protocol’s focus on building a higher throughput DeFi and GameFi ecosystem.
NFT Marketplaces on AVAX and Solana
Both AVAX and Solana have thriving NFT ecosystems on local blockchains where millions of dollars are transacted every day. According to DeFiLlama, Avalanche has 200 unique NFT collections while Solana has 2404 unique NFT collections.
Solana also traded more than Avalanche with $115 million in 24 hours on NFTs. Avalanche was traded at $ 26.49.
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