There have been new updates concerning the ever-so-popular Ethereum blockchain. One of these updates suggests that there is a new crypto in town and it has all the potential to topple Ethereum down the line if things go its way. This new crypto is known as Solana and is taking the world by storm. While there is no denying that Ethereum is already quite established, many experts suggest that it could face a tough time against Solana.
Some even believe that Ethereum could take the backseat due to Solana’s rapid increase in popularity. The update being talked about is the most recent, and its name is London Hard Fork. It contains around five improvement suggestions for the Ethereum blockchain. However, there is little to no information about its exact release date.
In the beginning, there were no limits associated with the mining of Ethereum. However, as time passes by, things are becoming more and more difficult. Initially, miners used to get rewards in the form of new coins whenever they were able to validate a certain block with success. In some cases, they even received some transfer fees, which proved to be a fantastic deal.
Experts are of the notion that this recently proposed update will bring about great change for Ethereum. However, with Solana, the new crypto breathing down its neck, things definitely will not be easy. What’s more, the congestion involved in the process will not be as much. This will mostly be possible because of the improved transaction fees, making things remarkably more efficient for all parties involved.
The migration would particularly be incredibly beneficial for Solana. One of the reasons behind it is that its transactions would become quite rapid due to the Ethereum updates. As more and more crypto enthusiasts are getting to know about Solana, they realize that it is much secure, faster and resistant to censorship. All of these qualities also make route for an open and easy to utilize infrastructure.
Some people believe that Solana is arguably be the biggest competitor against Ethereum. The scalability and transaction speed of this crypto make it stand out from quite a lot of other similar cryptos out there. As far as scalability goes, the network of Solana is more than capable of handling over fifty thousand transactions for each second.
This is quite staggering, especially when you think about who cost effective everything with Solana is. With all that said, it would be best to keep an eye out for this tremendous cryptocurrency as it could astound everybody in more ways than one.