Solana has been gradually creeping up behind Ethereum even before the crypto winter began. The network had grown in popularity among non-fungible token (NFT) and decentralized finance (DeFi) users who had been fleeing Ethereum due to the high cost of transacting on the network. Nevertheless, Ethereum had managed to maintain its lead ahead of Solana. That is until now when the latter has barreled ahead.
Solana Transaction Volume Grows
One major area in which Ethereum has consistently dominated has been the volume of transactions being carried out on the network. Other DeFi and NFT networks have had to battle for the second position but Solana has brought the fight to the fore as the crypto winter rages on. The network has seen transaction volumes soar higher than that recorded on the Ethereum blockchain, making it the smart contract network with the most transactions.
This comes even as transaction fees on the Ethereum network have dropped to two-year lows. Despite this, the cost of...
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