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A lot of digital exchanges and market places are using Ethereum or Solana (Twitch’s NFT marketplace). Was wondering what the consensus is on which is better to create an app or exchange on. My understanding is Solana is faster but isn’t fully decentralized? Ethereum seems more widely used but gas fees are high so an L2 solution would be needed. Any helpful resources or articles would be great! Thanks.
i think the better question to ask is which one you think will still be alive after 5yrs, ethereum or solana
Solana isn’t decentralized at all and their network sucks. It has had a ton of issues and the management team behind it has done some shadiness. Look at the cryptocurrency sub for info. ETH gets you the most users. Best L2 solution right now looks to be Loopring.
ETH. I don’t like the people behind Solana
I feel the same. Qualcomm engineer vs Thiel fellow
Solana is hotness right now but they need to prove that their chain is secure, decentralized and reliable. I heard they hv questionable design principles. Maybe start with ethereum to be safe
Make your Dapp on Solidity -> EVM Compatible. Then take it to all the EVM compatible chains. Certainly not Solana. In the future, even they will bring in EVM compatibility. You can decide then.
Ethereum TPS is limited by design. It is necessary for security and Decentralization. ETH devs can easily change a parameter and skyrocket the TPS. And make fees dirt cheap. That's not the point of blockchains . With L2 combined with sharding on /L1 , rollups will make use of ethereum's data availability . And scale to 100k TPS soon Vitalik is not your average blind dev. He is pretty damn smart.
True. Don't short a genius
call me dumb or whatever. How does buying ETH help with improving the chain? for bitcoin, it makes sense as I need a way to store of value. For eth or eth-based solutions, I am buying token as a “right to access” certain apps. If the ETH devs decide to make transaction fee dirt cheap, doesn’t it devalue my ETH holdings???
As an investor you want the chain to have lower fees so that people keep using the chain. The worst thing would be investing in a ghost town chain that nobody uses and the only value left are stubborn heavy bag holders. Ethereum upgrades will take years until they significantly reduce the fees on the base layer. L2s exist today and can be used to avoid high fees.
Both should be great investments, even after the Crypto exodus which will wipe out all the shitcoins.