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.
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:
It's quite interesting nice article Matt. I hope the ecosystem continues to grow. I am working on an alternative to Linktree on Solana (viewww.page)
@0xdchuck love that concept! would love for you to share it on smoothie if you're interested?
we're building product hunt for web3.
https://smoothie.so/