Solana (SOL) is often compared to Apple because the project, like the tech giant, strives to merge hardware and software. Some people think that Solana is Apple, only for crypto. However, the appeal of the ecosystem of one of the largest cryptocurrencies goes far beyond comparisons. Let’s figure out exactly how Anatoly Yakovenko’s blockchain improves and expands the capabilities of Web3.
How does Solana stand out among other crypto projects?
Solana co-founder Raj Gokal always describes the project’s vision as “Apple, but for cryptocurrencies.” With this analogy, he emphasizes that the platform strives to improve performance and user experience (UX). However, according to Four Pillars researchers, the true advantage of the ecosystem lies in multi-threaded and parallel processing of data. However, It was Solana’s technical superiority in network performance that attracted many pragmatic developers to explore the project’s potential during the boom of decentralized finance (DeFi) and non-fungible tokens.
Fast transactions and low fees have made the project the most serious competitor to Ethereum (ETH). “Solana can process thousands of transactions per second, with a block time of 400-500 milliseconds, which is significantly higher than any other existing blockchain. This approach aims to achieve two goals: creating an extensible platform that can withstand high loads, and application compatibility,” Four Pillars analysts noted.
Solana is trusted
The project continually improves network stability and resolves technical issues, thereby strengthening community trust. Recently, developers deployed a new QUIC protocol on the Solana blockchain. It can improve network performance and reduce transaction latency. Additionally, the introduction of a localized fee market helped reduce spam and encouraged effective use of the blockchain.
Moreover, Initiatives such as the airdrop of the meme coin project Bonk (BONK) also attracted the attention of the community. Owners of Saga Web3 smartphones, developed by the network team, could claim it. Ultimately, the hype around free coins led to a complete sell-out of mobile phones and even an increase in product prices. Ecosystem users could also take part in airdrops organized by ecosystem platforms such as Jito, Pyth, and Jupiter. Over the past few months, platform initiatives have attracted new audiences to Solana and significantly increased interest and trust in it.
The project attracts institutions
Solana’s strategic offerings go beyond technical enhancements and airdrops. The project became a pioneer in several important areas, including decentralized physical infrastructure networks (DePIN) and seamless exchange of crypto assets. Solana is also actively bridging the gap between blockchain and traditional financial systems. Not only that, this position of the project is reflected in partnerships with industry giants, including Visa and Circle.
All developments and strategic collaborations have attracted institutional investors. For example, Cathie Wood, CEO of the investment company ARK Invest, spoke positively about the project’s ecosystem: “At one time, Ethereum was faster and cheaper than Bitcoin. Solana is even faster and more economical than ETH,” she said. As it develops, the project continues to strengthen its role as a technological leader in the crypto market. From a technology perspective, Solana demonstrates the same impact as Apple. However, in a completely different niche.
