Top reasons why Solana is the best blockchain for gaming
The gaming realm has numerous blockchains, each with price and unique significance. One among them is the Solana, whose usage, performance, and growth depict a leading trail since its inception in 2020. Solana is very often assumed to be a prime competitor to Ethereum. However, its improved technological expertise and well-groomed user-friendliness have been instrumental in being among the top ten cryptocurrencies. Solana works on the unique consensus algorithm, the “Proof of Stake Time” (PoST), that’s pivotal in accomplishing swifter transactions with lesser transaction charges, as against other renowned blockchains. As you read through this article, you’ll get a better understanding of the reasons behind Solana’s proliferation.
The top reasons why Solana is soaring
Numerous factors facilitate Solana to be the ideal platform for blockchain-based projects like decentralized applications (dApps) and many such. In this section, let’s delve into the prominent reasons behind the soaring growth of Solana.
- Solana’s venture into NFTs with Degenerate Apes – Solana struck the NFTs with Degenerate Apes, a cluster of customized apes with numerous traits and rare features. Within 10 minutes, a cluster of 10,000 apes was sold. Today, its trading volume exceeds $66 million. These sales required SOL, leading to its price rise.
- Attracts a wide expanse of projects – Including numerous DeFi applications, more than 400 projects are erected on Solana’s network. For example, FTX and Alameda Research have set up Serum, their decentralized cryptocurrency, on the Solana network that hosts the USDC. Also, Audis, the crypto giant, utilizes Solana. Projects like these aid in Solana’s price rise.
- Folks seek substitutes for Ethereum – Despite most applications built on Ethereum, investors and developers seek alternatives due to congestion and heavy fees. Solana becomes handy at this juncture, and hence, it soared in price.
- Successful launch of wormhole project – Wormholes are implemented for swift and cheap movement of assets between Solana and Ethereum. Based on their cryptocurrency in store, users are prone to switch between the coins. Solana becomes comfortable in such scenarios. This explains Solana’s price rise.
- Incredibly swift transactions – Solana’s transaction speed is so swift that it claims to accomplish a minimum of 50,000 transactions per second (TPS). With innovations in hardware, Solana foresees to attain 70,000 TPS.
- Lower Cost per transaction – Surprisingly, the cost per transaction involving Solana is less than $0.01. This feature attracts more users to opt for Solana, thereby accelerating its growth.
- Lack of Mempool Problem – The waiting duration between processing a transaction and updating it to the blockchain is termed the mempool. Transactions involving Solana are updated almost instantaneously such that there is no mempool. With other cryptocurrencies, for example, Ethereum, it’s four minutes! This is one of the reasons behind the rise in Solana casinos as well.
- Easier Programming – Rust is the software Solana runs on. Rust has expansive boundaries of exploitation, including blockchain and games. It’s easy to use and is more familiar, which attracts more users.
- Less bandwidth usage and more resilient – Solana uses the Turbine protocol to reduce bandwidth usage. This protocol breaks every block into smaller packets and transmits them. This ensures low bandwidth usage, reduced processing times, and a tough network resisting breakdowns.
- Environment friendly – Solana’s usage of the PoS algorithm is 99.9% more energy-efficient than PoW, used by most other cryptocurrencies. Subsequently, this contributes the least to global warming.
Of the widespread cryptocurrencies sprouting of late, Solana’s contribution to society and the environment is remarkable. Its increased expanse of projects manifests its contribution to society, and its less energy usage feature nails its environment-friendly attribute. Parallely, all the other reasons behind Solana’s soar discussed in this article bring out its commitment towards its users in every aspect. With these features as assets, the future of Solana is brighter, wider, and stronger. Hope and assurance on Solana in shaping the future of gaming is truly unshakeable. All its inherent attributes confirm the same.