Ethereum

Shift

Solana

Daily

Rise

<h4><strong>This shift highlights the growing prominence of Solana in the blockchain ecosystem. </strong></h4> 
<p>It also signals a potential change in the power dynamics of leading blockchain platforms. Let’s explore more about this important achievement for Solana.</p> 
<h5><strong>Solana’s Rise Signals Shift in Blockchain Power Dynamics</strong></h5> 
<p>“Total economic value” refers to the cumulative value of all transactions processed on the network within a specific period. It includes all transfers, trades, and contract interactions, reflecting the blockchain’s overall activity and utility.</p> 
<p>So, Solana’s ability to handle thousands of TPS at a fraction of Ethereum’s cost has made it attractive for applications. These include <a href="https://www.altcoinbuzz.io/?s=solana+defi" target="_blank" rel="noopener">DeFi</a>, NFTs, and dApps. This surge in usage and adoption was a significant factor contributing to its historical achievement.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">For the first time ever, <a href="https://twitter.com/solana?ref_src=twsrc%5Etfw">@solana</a> has recently eclipsed <a href="https://twitter.com/ethereum?ref_src=twsrc%5Etfw">@ethereum</a> in daily economic value or "revenue" for Boomers.</p> 
 <p>Friendly reminder that <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a> is currently 1/5th the value of <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>. <a href="https://t.co/darZVOXDYz">pic.twitter.com/darZVOXDYz</a></p> 
 <p>— ◢ J◎e McCann <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9ca.png" alt="🧊" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@joemccann) <a href="https://twitter.com/joemccann/status/1790487134752895483?ref_src=twsrc%5Etfw">May 14, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>Ethereum has long dominated the decentralized space, known for its strong smart contract capabilities and large developer community. However, Ethereum’s scalability issues and high gas fees have sometimes stifled its growth, driving users to alternatives like Solana.</p> 
<h5><strong>Effects of Solana Surpassing Ethereum</strong></h5> 
<p>The economic milestone reached by Solana on May 12th could be attributed to several key factors. Firstly, the ongoing development and optimization of the Solana network have enhanced its stability and user experience, drawing more projects and users. Additionally, the recent spike in activity around new Solana-based projects, particularly in sectors like gaming and social media, contributed significantly to the increased transaction volume.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">Solana surpasses all other chains in daily combined Dex volume.</p> 
 <p>It seems that <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a> is gaining momentum once more.</p> 
 <p>Highly recommend keeping an eye on new projects entering the <a href="https://twitter.com/hashtag/Solana?src=hash&amp;ref_src=twsrc%5Etfw">#Solana</a> ecosystem. <a href="https://t.co/5lBlbmqFgY">pic.twitter.com/5lBlbmqFgY</a></p> 
 <p>— Kyledoops (@kyledoops) <a href="https://twitter.com/kyledoops/status/1789671956205486131?ref_src=twsrc%5Etfw">May 12, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>This event does not just represent a one-off victory for Solana but also points to a broader trend in the blockchain world, where newer, more efficient technologies begin to challenge the established leaders. For Ethereum, this could serve as a wake-up call to accelerate its upcoming upgrades, particularly the move to Ethereum 2.0, which aims to address many of its current limitations.</p> 
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<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/solana-overtakes-ethereum-in-daily-economic-value/">Solana Overtakes Ethereum in Daily Economic Value</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

Solana Overtakes Ethereum in Daily Economic Value

Altcoin Buzz

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