Ethereum

Solana

April

Elon Musk

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 <p class="paragraph">Solana (SOL) network issues have escalated affecting investors’ confidence and preventing the proper use of its decentralized finance (DeFi) ecosystem. In this context, Finbold selected ten Solana <a rel="noopener noreferrer nofollow" title="competitors" href="https://thebittimes.com/tag/competitors.html">competitors</a> to consider using and investing amid <a rel="noopener noreferrer nofollow" title="transaction" href="https://thebittimes.com/tag/transaction.html">transaction</a> <a rel="noopener noreferrer nofollow" title="failure" href="https://thebittimes.com/tag/failure.html">failure</a>s affecting its experience.</p>
 <p class="paragraph">Notably, over 69% of all Solana <a rel="noopener noreferrer nofollow" title="transaction" href="https://thebittimes.com/tag/transaction.html">transaction</a>s received by validators failed to receive votes for confirmation on April 7. Finbold retrieved this data from <em>Dune Analytics</em>, posted by <em>Dune</em>‘s user and analyst, <em>scarn_eth</em>. Moreover, the <a rel="noopener noreferrer nofollow" title="transaction" href="https://thebittimes.com/tag/transaction.html">transaction</a> <a rel="noopener noreferrer nofollow" title="failure" href="https://thebittimes.com/tag/failure.html">failure</a> rate went as high as 75% a few days ago.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="292" src="https://cdn.thebittimes.com/images/2024/04/07/2b2dfc69a47cf4a32014600c17b26055.webp" alt class="wp-image-167058" srcset="https://cdn.thebittimes.com/images/2024/04/07/2b2dfc69a47cf4a32014600c17b26055.webp 1024w, https://cdn.thebittimes.com/images/2024/04/07/2b2dfc69a47cf4a32014600c17b26055.webp 300w, https://cdn.thebittimes.com/images/2024/04/07/2b2dfc69a47cf4a32014600c17b26055.webp 768w, https://cdn.thebittimes.com/images/2024/04/07/2b2dfc69a47cf4a32014600c17b26055.webp 1536w, https://cdn.thebittimes.com/images/2024/04/07/2b2dfc69a47cf4a32014600c17b26055.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Solana failed non-vote transaction rate and share. Source: <em>Dune Analytics</em> (<em>@scarn_eth</em>)
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 </figure>
 <p class="paragraph">Yet, the analyst explained the network issues go beyond this data. This is due to most <a rel="noopener noreferrer nofollow" title="transaction" href="https://thebittimes.com/tag/transaction.html">transaction</a> attempts failing to reach this point in the first place. As explained, servers fail to see the messages from each other before even getting the chance to vote on them.</p>
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   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">Very good explanation.<br><br>My dashboard gets picked up as evidence of the bad UX, but really the issue real users are experiencing isn't shown in the chart, because the block leader drops the txns entirely because it's overwhelmed.<br><br>Gonna link this in the Dune dashboard too https://t.co/7H4VnzFBax</p>— scarn.eth (@scarn_eth) April 6, 2024
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 <h2 class="wp-block-heading" id="h-10-best-solana-competitors-to-consider-amid-network-transaction-failures">10 best Solana competitors to consider amid network transaction failures</h2>
 <p class="paragraph">Now, users and investors turn their attention to SOL competitors, in the face of transaction failures and an unreliable Solana network experience.</p>
 <p class="paragraph">In particular, Ethereum (ETH) stands as the most capitalized blockchain for Web3 and DeFi, with a $406 billion market cap. However, Solana mostly earned the market’s recent attention due to Ethereum’s poor user experience amid high fees and low scalability.</p>
 <h3 class="wp-block-heading" id="h-5-most-popular-solana-and-ethereum-competitors">5 most popular Solana and Ethereum competitors</h3>
 <p class="paragraph">Therefore, users and investors can consider competing layer-1 protocols offering higher throughput and more efficiency, while keeping decentralization and security.</p>
 <p class="paragraph">For that, BNB Chain (BNB), Cardano (ADA), Avalanche (AVAX), and Near Protocol (NEAR) are the market’s most popular choices. Each has over $87 billion, $21 billion, $18 billion, and $7.35 billion in capitalization, respectively. Making the top five Solana competitors sided with Ethereum.</p>
 <h3 class="wp-block-heading" id="h-5-most-promising-solana-and-ethereum-competitors">5 most promising Solana and Ethereum competitors</h3>
 <p class="paragraph">Moreover, five other competing chains stand as promising alternatives for decentralized finance, with innovative and unique approaches to this demand.</p>
 <p class="paragraph">On that note, we can mention Fantom (FTM), Sui Network (SUI), MultiversX (EGLD), Tezos (XTZ), and Radix (XRD). They have a $2.5 billion, $2.15 billion, $1.45 billion, $1.25 billion, and $765 million capitalization, respectively.</p>
 <p class="paragraph">Nevertheless, each of these projects has particular challenges to face and trade-offs to offer for their users. Investors considering these Solana and Ethereum <a rel="noopener noreferrer nofollow" title="competitors" href="https://thebittimes.com/tag/competitors.html">competitors</a> must understand the underlying risks and promises to make solid decisions moving forward.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/top-10-solana-competitors-to-consider-amid-transaction-failures-tbt84723.html">https://thebittimes.com/top-10-solana-competitors-to-consider-amid-transaction-failures-tbt84723.html</a></p>

Top 10 Solana competitors to consider amid transaction failures

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