Solana founder Anatoly Yakovenko has x.com/aeyakovenko/status/1800193621117034909?s=46″ rel=”nofollow” target=”_blank”>declared that SOL has surpassed ethereumthe world's second largest cryptocurrency in a critical metric: the economic barrier for honest nodes to participate in consensus.
Solana outperforms ethereum 10x on this metric
According ethereum/” rel=”nofollow noopener” target=”_blank”>Yakovenko, the economic barrier for honest nodes to participate in consensus on Solana is 10 times higher than ethereum at the moment. Typically, blockchains like ethereum and Solana They rely on a distributed network of computers, also known as nodes, to validate and record transactions. This entire process is called consensus and ensures that all nodes in the network work together to maintain the blockchain performance and security.
However, Yakovenko suggests that not all nodes are equal and participation in the blockchain consensus process usually comes with a high price. These expenses are often inflated by the costs of running powerful hardware and power consumption.
The founder of Solana also revealed that SUNThe expensive nodes are mainly due to the investments ethereum has made in Boneh-Lynn-Sacham (BLS) aggregation for consensus messages.
Boneh-Lynn-Sacham is a cryptographic signature scheme leveraged by ethereum that allows users to verify the level of authenticity of a signer. In particular, the BLS scheme may contain messages independently verified by node validators.
x.com/ryanberckmans/status/1799959740421734605?s=46″ rel=”nofollow” target=”_blank”>Reports by Ryan Berckmans, member and investor of the ethereum community, have revealed how expensive it is to run a Solana validator. He revealed that the Solana Foundation He currently supports the blockchain financially because running a validator costs more than $65,000 per year.
Yakovenko has revealed undefined plans to adopt a more efficient consensus mechanism to address rising voting fees. He revealed that as hardware improves, the minimum rate for sending validation messages to the entire cluster will eventually decrease. As a result, the cost per vote will also decrease and Solana's economic barrier to node participation may fall.
Additionally, the Solana founder revealed that establishing voting subcommittees would reduce voting fees and potentially reduce voting burden by rotating polling stations in and out of the committee.
eth and SOL witness slight pullback
Lately, the ethereum-price-slips-3430/” rel=”nofollow noopener” target=”_blank”>ethereum price and Solana has witnessed minor declines, underscoring the declining demand for these cryptocurrencies in the cryptocurrency market. At the time of writing, solarium has recorded a substantial weekly decline of 12.91%, bringing its price down to $150.5.
the light crypto-analyst-solana-price-crash-elliot-waves/” rel=”nofollow noopener” target=”_blank”>setback in Solana It comes amid broader market volatility and a slowdown in investor demand for the cryptocurrency. Despite his bearish performance, crypto analyst Ali Martínez is optimistic about Solana's future prospects. Martínez has x.com/ali_charts/status/1800918230359240720?s=46″ rel=”nofollow” target=”_blank”>foretold a potential price increase of up to 53% for the popular cryptocurrency.
On the other hand, ethereum has continually witnessed a ethereum/is-ethereum-price-under-pressure-what-futures-data-signals/” rel=”nofollow noopener” target=”_blank”>decrease in value despite the recent approval of Spot ethereum ETFs by the United States Securities and Exchange Commission (SECOND). As of the last update, the price of ethereum is trading at $3,485, marking a significant weekly drop of 9.49%.
