If you are fond of cryptocurrencies, then you should pay attention to Avalanche (AVAX) and Solana (SOL). These are projects that should take off in 2022. So, let’s compare Avax vs Solana.
Avalanche started selling hosted decentralized applications (dApps), self-executing smart contracts that provide services on the blockchain, in 2020. Differentiating a network from others is a process known as “burning”.
Avalanche (AVAX) is another strong cryptocurrency in the market. It claims to be the fastest smart contract technology in terms of time to market. According to Avalanche (AVAX) representatives, traders do not have to wait long for transactions to occur. For example, Ethereum (ETH) can take up to 6 minutes to complete a transaction. By comparison, Avalanche (AVAX) takes less than 2 seconds to process a transaction.
AVAX allows software developers to create decentralized applications. The platform can be used to create private and public blockchains. Individuals can also use it to create their blockchain. Most importantly, it allows businesses to scale with the least amount of hardware possible. To make the right decision, it is essential to observe the predictions of all coins, including etherlite price prediction.
Solana (SOL) is a significant cryptocurrency with a market value of around $33 billion. The protocol remains one of the most famous cryptocurrencies in the world. It is despite many cyberattacks, intrusions, and other online attacks,
It is a decentralized blockchain designed for building decentralized applications. With its ability to process 65,000 transactions per second, SOL has earned the nickname “Ethereum killer”. This means you can expect lightning-fast transactions and considerable opportunities to scale seamlessly.
Still, Ethereum (ETH) can process 30 transactions per second. Solana (SOL) is another example of a low-value coin with the goal of worldwide distribution. The token is currently trading at $92. During the last cryptocurrency downturn, this currency could maintain its value.
It’s essential to do your research before investing in any cryptocurrency. The cryptocurrencies above are worth keeping an eye on as they have the potential to be industry-changing:
- AVAX is looking to enable faster and cheaper transactions.
- SOL is looking to address the scalability issue.
It prevents blockchain technology from realizing its full potential. Keep these projects in mind as you continue to follow the development of the cryptocurrency market. In 2022, they could be worth much more than they are today.