Blog

What's the Difference between Fantom (FTM) and Solana (SOL)?

Blockchains prove to be beneficial not only in the case of coin generation but also to support some of the most serious issues concerning digital and crypto platforms. As we know, Ethereum has proved itself to be a dominant constituent in the crypto space. Though Ethereum is freely available customers are finding some other alternative ways to stop the likely monopoly of Ethereum. This is pushing every other user to find an alternative source of blockchains like Fantom or Solana. However, platforms like BitAlpha AI allow people to register, load their accounts with money, and start purchasing and selling Bitcoin.

There are layers of competitors in the market and among this first layer, two of the top contenders are none other than Fantom and Solana. There is a long debate about proving their mettle in the case of these two entities. In this article, we are going to discuss the major points of differences between the two. So, let us start the journey and try to clear our doubts about the same.

What is Fantom?

This is an important constituent of layer-1 blockchain and is majorly focused on the two terms which are its scalability in the digital globe and the features of cost-effectiveness in the case of raising funds and making the funds. Fantom believes in easy access to new and younger innovations in the form of NFTs and other digital contracts in the form of smart contracts and decentralized applications. The two basic aims of fantom are achieved by using other sidechains and other blockchains thereby reducing the burden on a single blockchain for the purpose specific.

What is Solana?

Solana is another contender from the layer-1 blockchain and solves problems associated with Ethereum. Solana helps its users to develop the network without keeping the details about the network and related terms. The feature of having smooth working related to smart contracts and other decentralized applications is an uncompromised feature of this layer-1 technology. This is regarded as one of the fastest blockchains in the entire globe and can support more than 60,000 transactions per second. The mechanism supported by this crypto is Proof of History (PoH).

Points of differences between the two

Solana was inducted into the working environment in the year 2020 whereas fantom is older as compared to it formally inducted in the year 2018.
The capability of Solana for staking APY is about 5% whereas, in the case of fantom, it is merely 2%.
Solana can impressively support around 50,000 transactions per second whereas the fantom can support 10,000 transactions per second.
There are more than 1000 nodes present to support Solana and in the case of fantom, it is merely 65. Thus, though fantom is older, it has not managed to support its network robustly.
In terms of fees, both have nominal charges that range lesser than $0.01.
The circulating supply of Solana is greater as compared to fantom. In terms of figures, Solana has a circulating supply of around 367,000,000 whereas fantom has the same supply of around 2,768,153,614.

Advantages and disadvantages of fantom

The blockchains available are independent, thus greater chances of customization.
No compromise in speed is seen.
The market cap of fantom is quite lower when compared with its rivals.
There is sheer uncertainty about using fantom as an alternative to Ethereum.

Advantages and disadvantages of Solana

The network of Solana has a unique network supported by layer-2 scaling and other sidechains.
Solana is considered to be one of the fastest blockchains with impressive rates of transactions holding.
The transaction fee of Solana is nominal.
Validating procedure of Solana takes a longer duration.
The number of outages experienced by Solana is few and not considered in the count.