Solana founder, Anatoly Yakovenko Announce Which SOL has surpassed Ethereumthe second largest cryptocurrency in the world with a criticality scale – the economic barrier for honest nodes to participate in the consensus.
Solana outperforms Ethereum by 10X on this metric
according to YakovenkoThe economic barrier to honest nodes participating in consensus in Solana is currently ten times higher than that of Ethereum. Usually, like blockchain Ethereum and Solana It relies on a distributed network of computers, also known as nodes, to validate and record transactions. This whole process is called consensus and it ensures that all nodes in the network work together to maintain… Blockchain performance And security.
However, Yakovenko points out that all nodes are not equal and that participating in the blockchain consensus process usually comes at a high price. These expenses are usually magnified by the operating costs of powerful devices and power consumption.
The founder of Solana also revealed this SolThe expensive nodes are primarily due to the investments Ethereum has made in Boneh-Lynn-Sacham (BLS) aggregation of consensus messages.
Boneh-Lynn-Sacham is a cryptographic signature scheme powered by Ethereum that enables users to verify the authenticity level of the signer. Notably, BLS can retain messages that have been independently verified by Node auditors.
Reports Ryan Berkmans, a member and investor in the Ethereum community, revealed how expensive it is to run Solana's validator. He revealed that Solana Foundation It currently supports blockchain financially because running a validator costs more than $65,000 per year.
Yakovenko revealed unspecified plans to adopt a more efficient consensus mechanism to address high voting fees. He revealed that as hardware improves, the minimum fees for sending verification messages to the entire group will eventually decrease. As a result, the cost of voting would also decrease and the economic barrier that Solana placed to sharing the contract might decrease.
Additionally, Solana's founder revealed that creating voting subcommittees would lower voting fees and potentially reduce the burden of voting by rotating boxes in and out of the committee.
ETH and SOL are seeing a slight decline
at recent days, Ethereum price The Solana coin witnessed slight declines, which confirms the decline in demand for these cryptocurrencies in the cryptocurrency market. As of writing, Solana It registered a huge weekly decline of 12.91%, pushing its price down to $150.5.
The slight one Withdrawal at Solana It comes amid broader market volatility and slowing investor demand for the cryptocurrency. Despite its bearish performance, cryptocurrency analyst Ali Martinez is optimistic about Solana's future prospects. Martinez did And he expected Potential price rise of up to 53% for the popular cryptocurrency.
Ethereum, on the other hand, has seen a steady decline Decrease in value Despite the recent approval of Spot Ethereum ETFs by the US Securities and Exchange Commission (second). As of the latest update, Ethereum price is trading at $3,485, which represents a significant weekly decline of 9.49%.