What is Avalanche?
Avalanche is a blockchain platform that uses the AVAX currency as its native currency. Avalanche is a cryptocurrency that competes with Ethereum in terms of scalability and transaction processing speed. The Avalanche blockchain is secured via AVAX, which is also used to pay transaction fees across the network.
Max Supply: 720 million
Total Supply: 391 million
Circulation Supply: 220 million
Locked Supply: 171 million
Fee: Fees are burned to prevent inflation
What problems does Avalanche (AVAX) solve?
Avalanche was created to address a number of the problems that most blockchain networks encounter.
Platforms like Avalanche attempt to resist centralization in the crypto world by providing an alternative to networks like Ethereum.
Avalanche addresses two of the most major issues:
Avalanche is a powerful and efficient system that can process up to 6,500 transactions per second with sub-second finality. This is a significant improvement above Ethereum’s constraints in terms of transaction processing per second.
In terms of gas expenses, Avalanche outperforms Ethereum. Avalanche’s fees are significantly lower than those of Ethereum.
Fees on the network are used for a variety of functions, including asset generation and minting, staking, transaction fees, and blockchain development, before being burned, lowering the number of AVAX on the platform forever.
What is solana?
Solana is an open-source, public blockchain that supports smart contracts, non-fungible tokens (NFTs), and a range of decentralized applications (dApps). The SOL currency, which is native to Solana’s blockchain, provides network security as well as a mechanism of transferring value through staking.
Total Supply: 500 million (11.4 million burned)
Circulating Supply: 16+ million
Teams Share: %23
Inflation: Started with %8, goes down to %1.5 by 2031
What problems does Solana (SOL) solve?
Solana’s ambitious design tries to address the blockchain trilemma in an unique way, a concept articulated by Ethereum developer Vitalik Buterin.
Decentralization, security, and scalability are the three key issues that developers confront when constructing blockchains, as described in this trilemma.
The Solana blockchain platform has proposed a hybrid consensus process that prioritizes speed above decentralization.
Solana is a one-of-a-kind initiative in the blockchain market due to its novel blend of PoS and PoH.
Solana is said to support 50,000 transactions per second (TPS), with over 200 nodes on testnets, making it one of the world’s fastest decentralized networks. Solana’s unique Proof of History (PoH) protocol allows for a block creation time of 800 milliseconds and a ledger size of petabytes.
SOL, AVAX, DIEM, POLKADOT, BINANCE SMART CHAIN, ELROND (comparison)