CoinDesk’s Misleading Information On Blockchain Performance Exposed

Key Points:

  • A recent debate on the accuracy of blockchain performance information in media due to CoinDesk’s claim that Polygon is faster and cheaper than Solana.
  • Some argued that Solana is 40 times cheaper with compression and 10-100 times faster than Polygon.
Recently, there has been a debate on the accuracy of information regarding blockchain performance in the media. The discussion was sparked by a recent article published by CoinDesk, which claimed that the transaction speed of Polygon is faster and the network fee is cheaper than that of Solana.

Following this mistake, CoinDesk updated its article by stating that chains are relatively equal in both factors.

This statement was quickly criticized by OxMert_, who argued that Solana has about 40 times cheaper fees (and actually 5000 times with compression) and about 10-100 times faster transactions.

Added to this, an account known as Richard Patel claimed that CoinDesk’s information on blockchain performance is inaccurate, citing that transaction times on Polygon are 5 times higher than on Solana (~2200ms vs. 400ms). Fees are roughly 35 times more expensive.

As the data showed on Polygon Website, it takes about $0.015 cost per transaction, while Solana takes about $0.00025 per transaction. With this provided data, Solana came out on top, which calculatedly is 60 times cheaper than Polygon’s average cost transaction fee.

The prevalence of false and biased information being published in the media raises the question of when mistakes stop being honest and start being intentional. It is understandable that mistakes can happen, especially when reporting on a complex and rapidly-evolving industry like blockchain. However, when these mistakes consistently occur in a biased manner, it becomes hard to attribute them simply to honest errors.

This issue is not limited to blockchain and cryptocurrency reporting. In fact, it is a broader problem in the media industry, where the need for clicks and engagement often takes priority over accuracy and objectivity. It is, therefore, up to readers and consumers of media to be critical of the sources of information and their accuracy, especially when it comes to complex topics like blockchain performance.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Thana

Coincu News

Thana

I am a news editor at Coincu, where I produce daily editorial packages and manage the knowledge and review article sections. Before journalism, I earned a Bachelor's degree in Global Logistics and Supply Chain Management from Northampton University and studied news journalism at Press Association Training.

Recent Posts

Analyst Sounds Major Breakout Alert Amid Shiba Inu, WallitIQ, And Dogecoin Price Recoveries

Analysts highlight a breakout alert as Shiba Inu (SHIB), and Dogecoin show signs of recovery…

6 minutes ago

SEC Chair Gary Gensler Will Lose Power From January 20

SEC Chair Gary Gensler will step down on January 20, 2025, coinciding with President-elect Donald…

8 minutes ago

MicroStrategy Convertible Notes Now Out of Stock With $3B Raised

The MicroStrategy convertible notes offering, initially set at $1.75 billion, was increased to $2.6 billion…

36 minutes ago

Qubetics, Cosmos, and Chainlink: Why These Cryptos Are Your Best Bet for November 2024

Discover why Qubetics, Cosmos, and Chainlink are the best cryptos to buy in November 2024.…

4 hours ago

Best Cryptos to Buy in December 2024: Qubetics Presale Goes Ballistic as Ethereum and Quant Look to Build Momentum

Best Cryptos to Buy in December 2024: Qubetics ($TICS) presale explodes, Ethereum (ETH) eyes a…

7 hours ago

USDC and CCTP to launch on Aptos, with Stripe adding Aptos support in crypto products

Palo Alto, California, 21st November 2024, Chainwire

9 hours ago

This website uses cookies.