Various blockchains can serve many purposes in the digital and real-world alike. Syscoin and Solana have some intriguing similarities but also opt for diverging paths. Therefore, it is essential to understand the differences between the two, as they can make or break a project.
The Success of Solana
No one can deny Solana has gained a lot of momentum throughout 2021. The blockchain ecosystem is fast, efficient, accessible, and supports many concepts, including DeFi, NFTs, and more. Additionally, the network has proven very successful, especially as popular chains like Ethereum tend to suffer from high transaction fees or network congestion somewhat regularly.
While better speed and lower fees are promising in the blockchain space, it will only prove beneficial if the network is stable. Considering the blockchain provided unstable in September 2021 – although that was resolved quickly – there is still room for improvement on that front. Moreover, one has to consider a few hundred projects on Solana, which is far lower than most other prominent blockchains on the market today.
There is also the concept of inflation to consider. More specifically, Solana has no hard cap on the amount of SOL that can exist. However, as inflation is a prominent concern in the real world, it may be something investors prefer to avoid in the digital world.
The last thing to consider is building regulatory compliant applications, products, and services on the Solana blockchain. Like most other blockchains, developers need to take care of these matters themselves rather than having protocol-level support. That may end up being a core weakness in many public blockchains.
