https://www.coindesk.com/consensus-magazine/2023/01/06/solana-vs-polygon-a-developers-perspective/
Coindesk recently released an article that has a great breakdown of Solana and Polygon from a technical perspective. This is a solid read for anyone who wants to understand the unlying value attributed to these products. This may help you answer questions that you may be asking yourself like: Why is there such a large price discrepancy between MATIC and SOL? Which one will be the better investment over the long haul?
I think they are great projects and have personally invested in both (took a hit with the whole FTX debacle...). And of course, when SOL dipped under $10 I bought more 🙃 I am very curious to see how their speed differences play out since they have wildly different proof structures. Currently, Solana seems to be the faster chain but with Polygon's ZK proofs are in the works along with the ability to run concurrent chains.
Obviously, there is a lot more than just the technical aspect of Coindesk's article. Polygon is making some massive strides in connecting with traditional brands from Coke to Mastercard which I have personally found very enticing. Crypto companies that can tap into traditional markets will have a big leg up IMO. Polygon also nabbed y00ts from Solana recently with what I can only assume was a very savvy business pitch along with a cool $3,000,000
I am curious to see how other users here feel about these 2 projects. What are your thoughts about MATIC and SOL?
Tossed in a couple of excerpts from the article here to give folks an idea of the read (its a tad dry if you aren't into this stuff)
"On Solana, the block time (referred to as “slot time”) is ~0.4 seconds. On Polygon the block time is ~2 seconds. This might seem like splitting hairs but the difference between 2 seconds and a half second is a big deal. When a user experiences more than a second of latency in an app (the brain processes information it sees at <0.15 seconds), it can feel like an eternity. I’ve seen this phenomenon while working on consumer apps. Moreover, every millisecond counts when price discovery and execution are so tied for financial applications."
"A one -sentence summary of how Solana and Polygon differ on their approach to scaling would be: Solana is built to keep everything on a single chain and Polygon is built to add more concurrent chains that merge state periodically."
Happy Hunting on any and all of your investments everyone!
i own both, but don't know how to use matic blockchain, didn't work for me ... sol wallets so super easy, why i luv it
SOL is certainly the faster and easier chain to use currently. However, consider the upside to MATIC if the chain becomes easier to use and manage. SOL at one point was not as robust as it is today. I personally use Metamask for my MATIC hot wallet. I did have some issues using the Phantom wallet with SOL personally. I found the amount of scam crap that just lands in Phantom wallets to be quite a security risk. I currently use my Exodus wallet to interact with SOL. What wallet have you liked the most so far?
i have Phantom, but yes, there's a lot of scam crap in there i haven't been able to remove so it's still there. be nice if they would make an upgrade to deal with that without the fear of accidentally clicking/opening the wrong thing.
i've been buying back into matic recently as i had to sell it all with the crash and financial losses.
Totally makes sense on the sell-off I did the same once MATIC got down to around $1.50.
In good news, there is a way to get something out of the useless crap that floods Phantom wallets now
"You now have the ability to burn unwanted NFTs (on the Solana network) directly within Phantom.
Burning an NFT will remove it from your wallet and you will receive the SOL that was being held in the token account (around .002 SOL). "
https://help.phantom.app/hc/en-us/articles/8698835626003-How-to-burn-unwanted-Solana-based-NFTs-on-Phantom
That being said I am still not a fan of having to be careful not to touch the wrong icon in a wallet 😆
I have started investing in Solana for the following reasons:
Solana is a high-performance blockchain platform that is capable of processing over 65,000 transactions per second. This makes it an attractive option for decentralized applications that require fast and reliable transactions.
Solana has a strong developer community and ecosystem, with over 500 projects built on the platform and a growing number of partnerships and collaborations with other organizations.
Solana is focused on security and scalability, which are important considerations for any investment. The platform uses a Proof of History consensus algorithm to ensure the integrity of its distributed ledger, and it has demonstrated the ability to handle a large volume of transactions without degradation in performance.
The Solana token (SOL) has shown strong growth in value since it was first listed on exchanges, which could make it a potentially lucrative investment for those who are able to get in early.
Right now I am also considering stepping into the realms of Polygon. Recent news has it that some of the major projects are migrating from Solana to Polygon. Anyway, maybe I can have the best of two worlds. All the best!
I completely agree with you on all points, SOL is currently the stronger blockchain IMO. I remember when folks were upset when the network went down a few times, but in all honesty, it just showed the massive interest the project gathered. Hopefully, we can have the best of both worlds, as long as Solana and Polygon develop different technologies in parallel 😉 I am honestly surprised at how different the underlying coding is when it comes to proofs
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