Analyst Ben Armstrong believes the battle for supremacy among smart contract blockchains will be strong.
In one Video new, said Armstrong, Solana (SOL) and Elrond (EGLD) are the latest blockchain platforms that “can beat the big ones” like Ethereum (ETH), Cardano (ADA), Polkadot (DOT) and Binance Smart Chain.
The analyst says that Solana has beaten the two largest blockchain networks by market cap with ease in terms of speed and scalability.
“With the ability to process between 50,000 and 65,000 transactions per second and a theoretical limit of more than 700,000 per second, Solana is several light years ahead of Bitcoin and Ethereum in terms of transaction speed per second.”
According to Armstrong, Solana can also process thousands of smart contracts at the same time without sacrificing efficiency. Together with low transaction fees, he said, FTX founder Sam Bankman-Fried (SBF) has therefore introduced the decentralized exchange Serum on the Solana blockchain.
“Solana was developed to process tens of thousands of contracts in parallel …
At just $ 10 per million transactions, you can see why dApps developers everywhere are eager to join the network. SBF chose Solana to build Serum DEX because it is the fastest smart contract platform on the market. “
Armstrong added that one of Elrond’s strongest points is its speed and developer-friendliness, as smart contracts can be written in a variety of programming languages because they support the standard Open format called WebAssembly.
“Elrond can process large numbers of large-scale transactions at speeds of 15,000 per second.
From a developer’s point of view, Elrond is a potential customer. A really useful platform that supports WebAssembly where you can write smart contracts in multiple programming languages. “
As for other attractive aspects of Elrond, Armstrong points out that it has a steady supply and a strong community to support the project.
“According to Picolo Research, Elrond has the second largest community of all cryptocurrencies. Second only after Cardano. Elrond has a maximum total supply of approximately 31 million. This makes it as scarce as Bitcoin and clearly benefits its community. “
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Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
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