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Ethereum's L2 vs. Solana: Expert Shares His Opinion

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Fri, 09/17/2021 - 14:27
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Vladislav Sopov
One of the newest Ethereum (ETH) scalability solutions, StarkNet, has many advantages over Solana (SOL), Ryan Berckmans claims
Ethereum's L2 vs. Solana: Expert Shares His Opinion
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Ryan Berckmans, Ethereum (ETH) investor and active contributor to Ethereum-based products, explains the core benefits of scalability solution StarkNet.

StarkNet or Solana?

According to the tweetstorm by Mr. Berckmans, Ethereum's Layer 2 scalability solution, StarkNet by Starkware Industries, has a number advantages over much-anticipated "Ethereum killer," Solana.

First, StarkNet's fees remain low as its network scales, while Solana (SOL) fees will rise in case of congestion.

Then, StarkNet's "property rights" are actually those of Ethereum, so all interactions are protected by the entire L1 hashrate. At the same time, StarkNet is more decentralized.

While Ethereum (ETH) has four independent clients developed by different teams, Solana (SOL) has only one, and this status quo will most likely remain untouched.

All Ethereum L2s are skyrocketing

Finally, ownership of Solana's native token, SOL, looks far more whale-dominated than that of Ether's supply. Mr. Berckmans recalls that 40% of SOL is considered non-circulating supply.

Ethereum's L2s are rocketing
Image via L2Beat

As covered by U.Today previously, second-layer scalability solutions for Ethereum (ETH) are witnessing unparalleled upsurge in terms of user activity and total value locked.

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Here's Why Arbitrum's Meteoric Growth Hits 2,500% in Total Value Locked

 
As displayed  by leading L2 tracking dashboard L2Beat, the TVL of Ethereum's Layer 2 ecosystem more than quadrupled in seven days.

At press time, its total sits over $3.6 million for all mainstream platforms.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)