Tuesday, March 21, 2023
cryptonews100
No Result
View All Result
CryptoNews100
No Result
View All Result
Home Alt Coins Solana

Crypto billionaire Sam Bankman-Fried says solana is better than ethereum as it’s one of the few networks able to handle mass adoption | Currency News | Financial and Business News

cryptonews100_tggfrn by cryptonews100_tggfrn
November 11, 2021
in Solana
0
Crypto billionaire Sam Bankman-Fried says solana is better than ethereum as it’s one of the few networks able to handle mass adoption | Currency News | Financial and Business News
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter


spot and derivatives trading, low fees! Use VPN to Spain if in US.
Sam Bankman-Fried FTX CEO crypto
Sam Bankman-Fried cofounded FTX in 2019 and is its CEO.

FTX

  • FTX’s Sam Bankman-Fried stated solana was one of the few blockchains with a roadmap to scale million of transactions.
  • Not rather a lot of different blockchains together with ethereum are targeted on scale he stated at the Yahoo Finance convention Tuesday.
  • Bitcoin generally comes beneath fireplace for not being able to accommodate many real-use circumstances.
  • Sign up here for our daily newsletter, 10 Things Before the Opening Bell.

Sam Bankman-Fried, the 29-year outdated that heads up the FTX change, believes solana is better than ethereum as it’s one of the few blockchains with a plan to accommodate mass adoption.

Bankman-Fried has a internet value of $22.5 billion thanks to his crypto enterprise, which makes him the youngest particular person to enter the Forbes rich list after Fb boss Mark Zuckerberg.

He spoke at Yahoo Finance and Decrypts’s “Crypto Goes Mainstream” conference on Tuesday about how the greatest upside of the solana community is its potential to handle an infinite quantity of customers and transactions.

Solana is a decentralized finance (DeFi) peer-to-peer community that many have billed as an “ethereum killer”, primarily based on its faster transaction pace and decrease charges compared to its bigger rival.

The community can run 60,000 transactions per second at $0.0015 per transaction, whereas ethereum handles simply 17,000 at a value of $5.80 every.

“Solana is one of the few at the moment present public blockchains that has a very believable roadmap to scale hundreds of thousands of transactions per second at you recognize, fractions of a penny per transaction, which is a scale that you simply want for this,” Bankman-Fried stated.

“That is not the place rather a lot of different blockchains have been focusing, together with ethereum.”

Solana launched in April 2020 and its token has risen by virtually 16,000% thus far this 12 months. It’s now the fifth greatest cryptocurrency by market worth, with a capitalization of $73 billion, in accordance to Coinmarketcap.

Ether, the native token of the ethereum community, launched in 2015 and so has had a bit of a head-start relative to different DeFi tokens. The community provides customers the possibility to construct purposes over it such as non-fungible tokens, ship funds and execute sensible contracts, amongst others. It’s risen by over 500% to record highs shut to $5,000 this 12 months, as customers have flocked to the community.

Bankman-Fried stated {that a} mass scale software enterprise would wish to be able to accommodate lots of of hundreds of thousands to billions of customers and transactions per second.

“That hundreds of thousands of transactions per second, is actually a requirement of any mass scale system,” Bankman-Fried stated.

Bitcoin, in the meantime, is the most traded cryptocurrency and is steadily getting into the monetary mainstream. Nonetheless, its community for now does not provide the identical flexibility and scalability of say, ethereum. And transactions are rather a lot slower and costlier, whereas its carbon footprint has been a supply of concern for climate-conscious traders.



Source link

Related articles

Solana (SOL) Falls 0.02%, Underperforms the Crypto Market Thursday – InvestorsObserver

Institutions Dump $126 Million Bitcoin & Ethereum But Buy Solana … – Watcher Guru

March 21, 2023
Solana (SOL) Falls 0.02%, Underperforms the Crypto Market Thursday – InvestorsObserver

Render Network Eyes Solana Migration Ahead of Network Changes – CoinDesk

March 20, 2023
Tags: adoptionBankmanFriedBillionaireBusinesscryptoCurrencyEthereumFinancialhandleMassnetworksNewsSamSolana
Share76Tweet47
kucoin-exchange

Related Posts

Solana (SOL) Falls 0.02%, Underperforms the Crypto Market Thursday – InvestorsObserver

Institutions Dump $126 Million Bitcoin & Ethereum But Buy Solana … – Watcher Guru

by cryptonews100_tggfrn
March 21, 2023
0

Institutions Dump $126 Million Bitcoin & Ethereum But Buy Solana ...  Watcher Guru Source link

Solana (SOL) Falls 0.02%, Underperforms the Crypto Market Thursday – InvestorsObserver

Render Network Eyes Solana Migration Ahead of Network Changes – CoinDesk

by cryptonews100_tggfrn
March 20, 2023
0

Render Network Eyes Solana Migration Ahead of Network Changes  CoinDesk Source link

Solana (SOL) Falls 0.02%, Underperforms the Crypto Market Thursday – InvestorsObserver

CoinMarketCap Top Gainers Amid Sustained Crypto Market … – Investing.com

by cryptonews100_tggfrn
March 20, 2023
0

CoinMarketCap Top Gainers Amid Sustained Crypto Market ...  Investing.com Source link

Solana (SOL) Falls 0.02%, Underperforms the Crypto Market Thursday – InvestorsObserver

Venezuela's Crypto Regulator, Targeted with $5M Bounty, Removed and Arrested – Decrypt

by cryptonews100_tggfrn
March 20, 2023
0

Venezuela's Crypto Regulator, Targeted with $5M Bounty, Removed and Arrested  Decrypt Source link

Solana (SOL) Falls 0.02%, Underperforms the Crypto Market Thursday – InvestorsObserver

Solana's Year-To-Date Performance Is Up By More than 100% By … – Investing.com

by cryptonews100_tggfrn
March 19, 2023
0

Solana's Year-To-Date Performance Is Up By More than 100% By ...  Investing.com Source link

Load More

Crypto Fear & Greed Index

Latest Crypto Fear & Greed Index

Recent News

Solana (SOL) Falls 0.02%, Underperforms the Crypto Market Thursday – InvestorsObserver

Potentially Profitable Tokens to Buy in 2023 – Ripple, BNB and Dogetti – NewsWatch

March 21, 2023
Solana (SOL) Falls 0.02%, Underperforms the Crypto Market Thursday – InvestorsObserver

100x Crypto Gem HedgeUp Could Be Every Investors Dream – Analytics Insight

March 21, 2023
Solana (SOL) Falls 0.02%, Underperforms the Crypto Market Thursday – InvestorsObserver

Polkadot investors could have a merry start to 2023 if DOT goes with this flow – AMBCrypto News

March 21, 2023

Categories

  • Alt Coins
  • Bitcoin
  • Blockchain
  • Cardano
  • Chainlink
  • Cryptocurrency
  • Dogecoin
  • Elon Musk
  • Ethereum
  • ICO
  • Litecoin
  • Market & Analysis
  • Pokadot
  • Polygon
  • Shiba Inu
  • Solana
  • The FED
  • Uncategorized
  • VeChain
  • XRP

Download the official CryptoNews100 Android App! Click the button below:

Tags

ADA (620) Big (585) Binance (373) Bitcoin (4254) blockchain (1040) BTC (713) Buy (506) Cardano (1444) ChainLink (489) coin (900) Cointelegraph (426) crypto (4061) Cryptocurrencies (498) Cryptocurrency (1806) Cryptos (398) DOGE (754) Dogecoin (1909) Elon (488) ETH (578) Ethereum (2354) eyes (461) Heres (401) Inu (1467) investors (410) Litecoin (703) LUNA (375) market (1410) Musk (408) News (1445) NFT (471) Polkadot (630) POLYGON (777) prediction (512) price (2382) prices (406) Ripple (499) SHIB (561) Shiba (1499) Solana (1174) Terra (418) today (637) token (506) top (761) VeChain (727) XRP (886)

© 2021 Crypto News100 All Rights Reserved.
By visiting this website, you understand that the content provided within is for educational and entertainment purposes only. Nothing on this site may be constituted as financial advice and this site is not directing you to make any investments in cryptocurrency or in anything else. Thank you for visiting and please proceed responsibly.
As an Amazon Associate I earn from qualifying purchases.

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Alt Coins
    • Cardano
    • Dogecoin
    • Litecoin
    • Pokadot
    • Polygon
    • Shiba Inu
    • Solana
    • XRP
    • VeChain
  • Market & Analysis
    • Blockchain
    • The FED
    • ICO
  • Profit with Crypto
    • Crypto Exchanges
    • Crypto Interest-Earning Accounts
    • Crypto Retirement Accounts

© 2021 Crypto News100 All Rights Reserved.
By visiting this website, you understand that the content provided within is for educational and entertainment purposes only. Nothing on this site may be constituted as financial advice and this site is not directing you to make any investments in cryptocurrency or in anything else. Thank you for visiting and please proceed responsibly.
As an Amazon Associate I earn from qualifying purchases.