I know Bitcoin. Supply is defined by blocks every 10 minutes, supply is cut in half every 4 years and you can exchange your BTC for whatever you want, given that the counterpart agrees. Ive been in the space for +10 years, just saying I get this one coin but…

With Solana, I do not know much. Are SOL like bitcoin, to trade for goods and services? store of value? why would a SOL be worth 50 today and the same one 5000 a few years later?

tshnks

  • Amr900@alien.topBEnglish
    1·
    1 year ago

    You shouldnt be comparing SOL to BTC, instead you should compare it to its main competitor ETH.

    They’re both smart contract platforms but Solana is faster, cheaper and more scalable.

    Solana has been slowly eating up the market share of ETH over the past few years. 3-4 years ago it was around 3% of ETH market cap, now it’s 8-12 depending on daily fluctuations.

    Solana also recently started getting more daily active users than ETH.

    Its number of developers are going up, number of new validators is going up, and the number of projects/companies being built on it is also going up. These are all healthy signs of growth.

    I watch a great youtuber called InvestAnswers that talks a lot about solana and other cryptos. He judges them based on loads of data related metrics/charts to find what’s worth investing in. Would defs recommend you watch a few of his videos.