Last Updated on October 31, 2023 by sourav sahu
Blockchain technology is one of the most exciting and innovative technologies to emerge in recent years. It has the potential to revolutionize a number of industries, including finance, healthcare, and supply chain management.
And if you know something about blockchain, you must have heard about FTM and SOL
So let’s compare FTM vs SOL – two popular blockchains. This guide is intended to provide an impartial comparison of the feature sets of the blockchains under consideration.
Consider below comparing the characteristics of the two blockchains.
- Fantom blockchain was conceived in 2018 and published its token on its main net OPERA in 2019.
- It has 3,175,000,000 coins in circulation and 3,175,000,000 coins in supply.
- Proof of stake in Fantom is based on the aBFT consensus algorithm.
- This has increased its performance and scalability.
- Fantom’s token development and growth are governed in part by open-source code and core team governance.
- It supports many development SDKs, including Ethereum Virtual Machine and Vyper, enabling the creation of smart contracts and decentralized applications.
- It features much less expensive transaction fees than Bitcoin and Ethereum.
- It has a total transaction pace of 50,000 per second.
- FTM is Fantom’s native token, which can be exchanged and staked in certain stake groups.
- It permits Solidity as its programming language for decentralized applications and smart contracts.
- It enables the building of cross-chain bridges, smart contracts, and decentralized applications.
- The Solana project was initiated in 2017 by Anatoly Yakovenko, and the token was issued in 2020.
- There are 489 million Solana tokens available and 260 million in circulation.
- It includes a consensus mechanism based on proof of history, and the system was created with speed and scalability in mind.
- It also has an open-source codebase with key investors and a development team.
- Solana supports the Ethereum virtual machine for the construction of smart contracts and decentralized applications (dApps) both on and off-chain.
- In terms of transaction costs, Solana has been comparable to Ethereum and Bitcoin.
- Solana has a total transaction rate of 40,000 per second.
- Solana’s native token is SOL, which can be staked and exchanged on an exchange.
- The main programming language for Solana is Rust, which also supports C and other SDK-specific extension languages.
- It offers the capacity to construct smart contracts, decentralized applications, and cross-chain bridges.
Check out the comparison between Solana and Near as well as LetsExchange: https://letsexchange.io/custom/compare/near/sol/info/.
Fantom or Solana – Which Should I Select?
If you investigate both blockchains from the point of view of their development, you could discover that firms in the field of financial technology have chosen to use Solana. And there has been a sudden spike in demand for it.
FTM is more in demand than Fantom, which is chosen by projects who are looking for an Ethereum alternative without having to construct different codes for decentralized apps.
FTM is preferred since Fantom requires developers to build code specifically for decentralized applications.
Both SOL and FTM have the potential to be profitable investments from an investor’s point of view. They are being adopted by a large number of low-scale applications, which should keep the price moving.
You can’t make a mistake by selecting any of the available options, so choose whatever one appeals to you the most.
The fact that the FTM is open-source and is always being developed will eventually lead to it having a higher market value. Another feasible alternative to Ethereum is the cryptocurrency known as Solana. It is impossible to make a bad investment in cryptocurrency, regardless of which blockchain you choose to build on or which currency you choose to purchase for your portfolio.
Is FTM cryptocurrency faster than Sol cryptocurrency?
There is no definitive answer to this question as the performance of different blockchains can vary depending on a variety of factors. Both SOL and FTM have the potential to be lucrative investments from an investor’s perspective.
Who are Fantom’s competitors?
There are a few other cryptocurrencies that are considered competitors of FTM. These include Bitcoin Cash, Ethereum, Litecoin, and Ripple.