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Solana in 2025: Still a Leader in Fast Blockchain Technology?
- Solana has lived up to its title as an efficient and cost-effective alternative to Ethereum since its inception. Other blockchain platforms are also making progress in reaching this aim.
- During the year 2024, Solana's YoY growth was 107.8%, whereas its growth in comparison to its competitor, Ethereum, was 5649%.
- Following this impressive performance, the number of active Solana wallets has increased dramatically, while the number of transactions has risen from 200 to 400 million. The potential Solana transaction speed has reached ~65000 TPS.
- Solana ecosystem updates played a major role in bringing in $367 million in revenue, while DeFi TVL on Solana grew to $8.6 billion with Raydium, Kamino, and Jupiter Perps occupying top spots on the leaderboard.
- However, the competition between Ethereum and Solana is still ongoing, with blockchain platforms such as Sui, Avalanche, BSC, Polygon, and Tron making significant headway in the market.
- Blockchain platform Sui, which employs a Directed Acyclic Graph (DAG), is growing in strength and offering an impressive speed of 854 TPS.
- Next is Avalanche, an established blockchain with its proprietary Avalanche Consensus Protocol mechanism that claims to have an excellent theoretical TPS of 4,500.
- Tron is still in the running, reaching 160 TPS and using the Delegated Proof of Stake (DPoS) protocol.
- The predicted growth of Solana in 2025 is based on the fact that it has demonstrated its capabilities in speed and relative cost-effectiveness. Also, it is rapidly becoming a significant player in Web3's infrastructure, while the Solana DeFi and NFTs are likely to continue.
- In conclusion, Solana has made outstanding progress in 2024. However, with Ethereum, its successors such as Polygon and other promising platforms and their technical advantages, it will take a lot of effort for Solana to gain a dominant position in the market.
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