Solana is a high-speed blockchain network with smart contract capabilities, one of several competitors to Ethereum. Its three-year returns sit at an impressive 924%, and the Solana blockchain launched in 2020, well after Ethereum and Cardano. This rapid growth followed by investor interest is driven by its fast and cheap transactions.
Solana generally processes between 700 and 1,000 transactions per second, and it’s reportedly capable of 65,000 tps. Average transaction fees are just $0.002, which contrasts with Ethereum’s higher costs of around $0.14. Solana’s low costs and high speeds have helped it gain popularity among developers as a platform for launching decentralized finance (DeFi) services and cryptocurrency tokens.
This doesn’t mean you should ditch Bitcoin for Solana; they’re very different types of cryptocurrency, with Bitcoin primarily serving as a store of value. There have also been periods when Bitcoin has outperformed Solana. If you’re in the process of building your crypto portfolio, you may want to consider picking up some of both. Bitcoin (CRYPTO: BTC) has delivered outstanding returns to investors who have bought it and held on through its ups and downs.
Over the last three years, Bitcoin rose by 423%. But there’s one popular altcoin that outperformed Bitcoin by a whopping 501%. Solana has handily outperformed Bitcoin over the last three years.
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