Compass Investments

Crypto vs. Dollar

📌 Missing Solana are two promising SOL rivals worth considering in 2024

Two promising competitors to Solana are MultiversX (EGLD) and Radix (XRD), which focus on scaling through sharding. Interestingly, most of the largest systems in the world scale through database sharding, which has proven to be an efficient way to handle the large amounts of data that have become replicated in distributed blockchain applications. Solana

– Two promising competitors to Solana are MultiversX (EGLD) and Radix (XRD), which focus on scaling through sharding. Interestingly, most of the largest systems in the world scale through database sharding, which has proven to be an efficient way to handle the large amounts of data that have become replicated in distributed blockchain applications.

In 2018, Vitalik Buterin, the creator of Ethereum, stated that sharding and proof-of-share are effective.

Essentially, MultiversX scales through an adaptive sharding model where the network adds new shards based on demand. Each shard has a theoretical capacity of 10,000 TPS, and the network is currently operating with three shards.

The eGold token (EGLD) is currently trading at $28.53, down 58% since the beginning of the year. With a market capitalization of $775 million, it is 83 times smaller than Solana’s market capitalization of $65 billion.

Radix, on the other hand, has yet to implement sharding of the mynet. Instead, the blockchain is currently testing this implementation with promising results. In addition, the project relies on atomic compatibility of all transactions, which means a seamless user experience when using different sharding.

Recent tests by Dan Hughes have shown that the network can handle more than 200,000 swaps per second. Swaps are more complex transactions that typically have less bandwidth than regular TPS. On the test network, these swaps took an average of 3.75 seconds to execute using 32 shards.

Meanwhile, the price of XRD is $0.29, which is below the price of an initial coin offering (ICO). It has fallen 28% over the past year and has a market capitalization of $300 million, 216 times less than Solana.

Bitcoin

Bitcoin

$67,284.22

BTC 0.92%

Ethereum

Ethereum

$3,461.90

ETH -0.24%

Binance Coin

Binance Coin

$593.91

BNB 0.11%

XRP

XRP

$0.61

XRP 3.11%

Dogecoin

Dogecoin

$0.14

DOGE 5.59%

Cardano

Cardano

$0.43

ADA 0.56%

Solana

Solana

$180.23

SOL 1.82%