Fantom (FTM) vs Solana (SOL) / Two Big DeFi Giants
The community has spoken we heard you loud and clear so today we'll compare solana and phantom exploring how they both work their potential and of course if they're good investments so take a seat relax and enjoy first of all both phantom and solana are infrastructure networks also known as layer 1 and they follow pretty much the same plan.
FTM next Solana:
They want to get as close as possible to solving the blockchain trilemma at first in theory and then in practice once everything goes according to plan with optimal parameters and no downtime try to attract experienced dev teams the end goal is creating a defy ecosystem that's highly attractive to users solana is a proof of stake network compatible with smart contracts and it was created in 2017.
Often there is some confusion when it comes to solana proof of stake and proof of history so i'll try to explain what both are in as few words as possible in proof-of-stake validating nodes the ones helping the entire network work in a more or less decentralized way must take a certain amount of coins so in the case of solana and ftm for phantom in order to have the right to validate and process the transactions registered on the network's blocks proof of history is a method created by solana by which there is proof that transactions are processed by the correct node and sequences are respected basically it's a system by which time is divided into slots and the leader is chosen to produce network blocks before each slot by this proof of stake variation solano can reach in theory 65 000 transactions per second currently.
It has about two and five thousand transactions per second phantom uses a consensus mechanism called lack is which is also proof of stake variation by which nodes don't have to send network blocks among themselves which means that the blockchain can be modified easier so the entire transaction process is accelerated.
Fantom vs Solana speed:
phantom reaches on average 15 to 20 transactions per second with a block time of less than one second of course these numbers don't represent the limit of the network as in theory it could reach 10 000 transactions per second when it comes to active addresses for solana we couldn't find an exact number for this year but some time ago it surpassed 2 million phantom experienced a huge growth between august and now reaching 2 million unique addresses not to be confused with active addresses the difference between these two is kind of huge but that has to be expected since selena is a more mature network despite that phantom did manage to grow quite a lot in recent months solana has a defy ecosystem based mostly on platforms that only exist within this network here we can find projects from all defy areas with already existing communities such as serum radium or saber in the texas corner just want to mention the lending and borrowing protocols such as apricot finance soland and francium but also derivatives protocols and many more on top of this solana has an nfd
T ecosystem that's pretty well developed phantom managed to attract plenty of projects that exist on other chains meaning they already have an existing community such as year in finance curve sushi swap beefy finance and abracadabra the phantom ecosystem also enjoyed a good apr meaning it attracted new users so the tvl increased again so far it's obvious that solana is the more developed and more mature network no matter how we look at it but i must confess i appreciate the approach that the team behind phantom has taken attracting projects that work very well on other networks and that have already established communities is a great strategy and we can see that from its tvo and the number of unique addresses and the positive sentiments surrounding it for a couple of months .
Fantom (FTM) disadvantage:
i don't like in phantom compared to Solana is the number of validating nodes phantom has 58 nodes compared to 1 500 on solana so it's clear which of these networks is more decentralized at the same time selena has 19 nodes that control over 33 of the seeking quantity so in theory they can control the network together if they decide to do so huge con regarding the utility there aren't too many differences and that tends to be the case with infrastructure networks where coins are used in the consensus process for payments and fees and sometimes for governance now we've reached the most difficult part of this article trying to draw a conclusion both projects have their pros and cons.
They are also among the most popular infrastructure projects since it is very likely that both phantom and solana will remain among the top layer 1 networks in the years come the optimal investment for me is dca for both i try to purchase both ftm and seoul whenever there's a deep and in such cases i don't think we should pick a winner and stick with it instead we should try to diversify and choose more projects that still look good following a careful analysis neither phantom nor solana are perfect networks but then again there is no perfect network for now so this is not relevant if i'd have to choose to invest in only one of them it would be a close call but i'd stick with phantom i like how the defy ecosystem is thought out how many solid projects they've managed to attract from ethereum in a short amount of time and it has a very good tpl the potential for a huge price increase is more likely in the case of phantom but investing in both is a good idea so comes with a lower risk and smaller potential for growth while ftm comes with a bigger risk but with a larger potential for growth.