8 Solana Tools You Should Know

Solana (SOL) has been called the Ethereum (ETH) killer.

But they have completely different tools.

Here are the 8 Solana tools you need to know 👇

1) Coding Language

Developers need to know different coding languages.

ETH = Solidity

SOL = Rust

2) Wallet

You need to store your tokens and NFTs in different wallets.

ETH = Metamask

SOL = Phantom

3) Decentralized Exchange

Exchange your cryptocurrencies with other tokens/coins.

ETH = Uniswap

SOL = Radium

4) Borrowing & Lending

Borrow and lend your tokens/coins.

ETH = Aave

SOL = Solend

5) Domain Naming Service

This is what you use to purchase your domain. It is blockchain’s version of “.com”

ETH = ENS (.eth)

SOL = Bonfida (.sol)

6) NFT Marketplace

Buy and sell NFTs with others.

ETH = Opensea

SOL = Solanart

7) Block Explorer

Analytics platform to examine blockchain data.

ETH = Etherscan

SOL = Solscan

8) Community Management

Manage your gated community with tokens and NFTs.

ETH = Collab.land

SOL = Grape

9) Transactions Per Second (TPS)

This is not a tool, but had to include this difference in speed.

ETH = 15 (ETH 2.0 has potential for 100,000 TPS)

SOL = 50,000

10) Token Allocation

This is also not a tool but both have very different token allocation strategies. Solana sacrifices some decentralization for speed.

Key takeaway:

Solana is the new kid on the block and has a lot of strengths.

Even though it uses a different programming language, many people like it better because of its speed.

As such, it’s important to know the projects and tools that are being built on it.

But this doesn’t mean that there will be a “winner takes all” scenario.

It’s very possible that the future is multi-chain, where there are multiple winners.

Full twitter thread link: